The DIBS Method... No Free Lunch continues | Page 398 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The DIBS Method - No Free Lunch Returns 13 replies

No Free Lunch but all the Free Coffee you can drink 736 replies

Peter Crown's DIBS method revisited 14 replies

DIBS Method EA 11 replies

Problem using Dibs EA 4 replies

Attachments: The DIBS Method... No Free Lunch continues
Exit Attachments

The DIBS Method... No Free Lunch continues

  • #7,941
  • May 26, 2009 7:54am May 26, 2009 7:54am
Yes RT, looks like NY session suites me the best...still no IB during london session.

One question: if IB forms during NY session, and it is right before a major news...do you still place the trade?

Thanks....CT
  • #7,942
  • May 26, 2009 8:09am May 26, 2009 8:09am
Personally news doesnt both me. The only news that really affects things are NFP and rates. However it is up to you. except for the 2 above, I still trade and iB. The market has to come to you first off so if it breaks in your direction, just hope you get filled. If it goes the other way, you either wont be in, will have been in and hopefully have a free trade anyway or you get stopped out. Hey thats business. For the ones you get stopped out on, then ones that run with the news may just make up for it.
  • #7,943
  • May 26, 2009 9:23am May 26, 2009 9:23am
Hi folks,

For those that use the "BarClock" indicator here's an important update as it seems that eventually most brokers will be moving towards a 5th decimal point quote pricing. See pic below for example of fractional pip spread.

Updated: 05/18/2009 - I added an auto 5/6 digit quote switch in the code for the spread display to be fully compatible with brokers that use up to 6 digit quotes. I changed the name to BarClock v3 (AAD Mods)...
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy with barclock v3.jpg Size: 66 KB
Attached File(s)
File Type: ex4 BarClock v3 (AAD Mods).ex4   4 KB | 599 downloads
  • #7,944
  • May 27, 2009 3:46am May 27, 2009 3:46am
Its obnoxiously quiet today....I checked the calendar for "news"etc ...nothing to write home about, I suppose it will be a long wait till New York kicks in.
  • #7,945
  • May 27, 2009 3:46am May 27, 2009 3:46am
Hi everyone! If u don't mind I have a question to ask. As I understand u don't pay much attention for news (by preseting max deviation from price in stop order). Than what about stop loss? I mean how often do u experience slippage?
Thanks for u time. (Sorry for my English)
  • #7,946
  • May 27, 2009 4:08am May 27, 2009 4:08am
Quoting Aad
Hi folks,

For those that use the "BarClock" indicator here's an important update as it seems that eventually most brokers will be moving towards a 5th decimal point quote pricing. See pic below for example of fractional pip spread.

Updated: 05/18/2009 - I added an auto 5/6 digit quote switch in the code for the spread display to be fully compatible with brokers that use up to 6 digit quotes. I changed the name to BarClock v3 (AAD Mods)...
Thanks Aad.

I'll try it at my new feeds broker
  • #7,947
  • May 27, 2009 5:55am May 27, 2009 5:55am
Quoting Scally85
Hi everyone! If u don't mind I have a question to ask. As I understand u don't pay much attention for news (by preseting max deviation from price in stop order). Than what about stop loss? I mean how often do u experience slippage?
Thanks for u time. (Sorry for my English)
Ive been trading this method for close to 3 months now and I havent noticed it at all. That may because Im not in the market, the market is no where near my order or the major news wasnt major enough to create slippage in my area. I dont trade around NFP or rates calls but if I have an order on from the past I just let whats going to happen, happen. If the trade is a free one then it doesnt bother me either way. Last night I could have locked in 50 pips or so profit on my shorts (which would have been good in hindsight) but I try to give trades the chance they need to maturise.

If you worry about the news, then you will limit yourself to trading around it. News can be good or bad, just depends on the side of the tracks your travelling.
  • #7,948
  • May 27, 2009 6:03am May 27, 2009 6:03am
Quoting Razor_trader
Ive been trading this method for close to 3 months now and I havent noticed it at all. That may because Im not in the market, the market is no where near my order or the major news wasnt major enough to create slippage in my area. I dont trade around NFP or rates calls but if I have an order on from the past I just let whats going to happen, happen. If the trade is a free one then it doesnt bother me either way. Last night I could have locked in 50 pips or so profit on my shorts (which would have been good in hindsight) but I try to give trades...
Thanks. It really helps.
  • #7,949
  • May 27, 2009 6:31am May 27, 2009 6:31am
EUR short just hit 1:1. Next Profit target is around 3750 give or take some. Im looking for profit as this is against the trend so I will be looking at some key areas to move my SL to book some profit. Ultimatly if I find an IB lower that signals up I may use that to take me out and get in at the resumption of this up trend.
Attached Image (click to enlarge)
Click to Enlarge Name: EUR Free trade.gif Size: 15 KB
Attached Image
  • #7,950
  • May 27, 2009 7:55am May 27, 2009 7:55am
hey razor nice trade... i left that 1 alone I was waiting on a eur/gbp short to drop through previous low.... took it's time but got there in the end. entered several times on this 1 as i thought a break would give a nice move! well it wasn't as big as i hoped and i took the 1;1 then 1:2 but i'm gonna sit on the rest for a bit. Better mortgage numbers would have been nice.

looks as though we'll see general $ weekness but with north korea making waves where will things go?!? we used to see $ strength during such times but with diversifying of the chinease holding etc we could see a shift and a slow weaking of the dollar throughout the year...or not lol just thinking out loud :o)
  • #7,951
  • May 27, 2009 8:33am May 27, 2009 8:33am
Quoting icarusfx
hey razor nice trade... i left that 1 alone I was waiting on a eur/gbp short to drop through previous low.... took it's time but got there in the end. entered several times on this 1 as i thought a break would give a nice move! well it wasn't as big as i hoped and i took the 1;1 then 1:2 but i'm gonna sit on the rest for a bit. Better mortgage numbers would have been nice.

looks as though we'll see general $ weekness but with north korea making waves where will things go?!? we used to see $ strength during such times but with diversifying of the...
THE DEFINITION OF FRUSTRATION?

THE EUR/USD over the past 2 days. Great breaks down but no continuance. Im getting past it this week, just seems like we need to breakdown but we may not get it. Closing off for the night now, tired frustrated need sleep or I may just do something silly LOL.

Take Care all
  • #7,952
  • May 27, 2009 10:12am May 27, 2009 10:12am
Indeed RT...talk about frustration, but on the other hand it could be a good thing to stay out, and not to enter a bad trade.

I started to look for IB during NY session (since I started this method last couple days), and so far none! But then again, there is no good wine until its time
  • #7,953
  • May 27, 2009 10:12am May 27, 2009 10:12am
My first trade with EA, same as Razor TP hit 1:1.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 18 KB
  • #7,954
  • May 27, 2009 11:28am May 27, 2009 11:28am
Quoting candletrader
Indeed RT...talk about frustration, but on the other hand it could be a good thing to stay out, and not to enter a bad trade.

I started to look for IB during NY session (since I started this method last couple days), and so far none! But then again, there is no good wine until its time
Hey, candle and razor...

lots of "yo-yo" markets these days.... ...a poison to DIBS... Been out most of the time the last 3 days, working... no trade at all...

Imagine how many traders were caught in this yo-yo and lost some decent bucks... If you are frustrated cause you couldn't get some decent DIBS, but ended at BE...well, I fell you are all still breathing, right?....... You both are much better than the majority of the traders.... Let's take a good wine and wait for the next setup.... patience's value is way above thousands of pips....

Cheers!
Many share my views with me. But I don't share them with them...
  • #7,955
  • May 27, 2009 11:28am May 27, 2009 11:28am
Quoting icarusfx
morning all! hope everyone had a good weekend!

i c the markets must have been slow yesterday :o) nice pic by the way.... the "girl" on the right look like the chap that fronted milli vanilli lol always wondered where he disappeared !?!


Many share my views with me. But I don't share them with them...
  • #7,956
  • May 27, 2009 12:35pm May 27, 2009 12:35pm
Quoting HouseTrader
Hey, candle and razor...

lots of "yo-yo" markets these days.... ...a poison to DIBS... Been out most of the time the last 3 days, working... no trade at all...

Imagine how many traders were caught in this yo-yo and lost some decent bucks... If you are frustrated cause you couldn't get some decent DIBS, but ended at BE...well, I fell you are all still breathing, right?....... You both are much better than the majority of the traders.... Let's take a good wine and wait for the next setup.... patience's value is way above thousands of...
Cheers HT...I've already dried up 2 good bottle of chilean wines waiting for those IB patterns. Well, to catch a nice trend day, can't do much but to wait...tic tac tic tac...
  • #7,957
  • May 27, 2009 12:55pm May 27, 2009 12:55pm
Quoting candletrader
Cheers HT...I've already dried up 2 good bottle of chilean wines waiting for those IB patterns. Well, to catch a nice trend day, can't do much but to wait...tic tac tic tac...
Wow.....

Be careful.... last time I was waiting with this (wonderful) kind of "fuel" I started to ssseeee IBzzz eeeffrryyywhere..... at the roof, the walls, hanging on the lamps, .... WOW... IBzzzz efffrywhheeerre....... hic..



Cheers!
Many share my views with me. But I don't share them with them...
  • #7,958
  • May 28, 2009 4:12am May 28, 2009 4:12am
Quoting HouseTrader
Wow.....

Be careful.... last time I was waiting with this (wonderful) kind of "fuel" I started to ssseeee IBzzz eeeffrryyywhere..... at the roof, the walls, hanging on the lamps, .... WOW... IBzzzz efffrywhheeerre....... hic..



Cheers!

lol ht i think most of us will have done that at some point! a couple of years back i "thought" i closed a position only to find it still open in the morning and my account had been on a roller coaster ride but i was pretty much where i "closed" it the night before! no more vino with trading anymore.

a couple of weeks back over here a chap got banned from trading for 2 years after he had a liquid lunch then traded his ass off in the afternoon to be 5mill down when he came in in the morning!! can you imagine... anyways he couldn't trade his account and didn't want to say what he had done so he traded his friends account (not sure if the friend knew about it) but buy the end of the day he was 1 mill up (they still sacked him).

just goes to show the vino seems to get us all!

i'm a Barolo man myself but i do like a Chilean Merlot, Good Spanish Rioja or American Zinfandel.

lol 10am with wine on the mine.....

eur/gbp trades hanging on in there also dibs on gpb/usd (not taken due to my other trade) but theses a reasonable correlation between the 2 atm and i don't fancy doubling my risk atm

what a long post sorry

regards

Wine-o :o}
  • #7,959
  • May 28, 2009 6:47am May 28, 2009 6:47am
anyone with me on this one? ^_^
Attached Image (click to enlarge)
Click to Enlarge Name: 9.gif Size: 22 KB
  • #7,960
  • May 28, 2009 6:48am May 28, 2009 6:48am
Took this long trade while sober...it has a nice risk:reward ratio.
Attached Image (click to enlarge)
Click to Enlarge Name: Dibs_trade01.gif Size: 41 KB
6 traders viewing now