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The DIBS Method... No Free Lunch continues

  • #7,981
  • May 28, 2009 10:29am May 28, 2009 10:29am
Quoting icarusfx


a good exit for you would have been the break of the last ib to the bottom side... after all lets not forget what ibs show/tell us.
on second thoughts i take the above back.... i wouldn't have moved my stops there.... i would have set t/p at the resistance i mentioned some post b4 @ 97.10 ish as i'm a bit of a wimp when it comes to resistance lol

ah it was a good trade anyway but i'd be set on keeping a 1% profit so s/l at b/e and just see what happens maybe set tp b4 the high?

regards

even with hindsight i've only 15/20
  • #7,982
  • May 28, 2009 11:00am May 28, 2009 11:00am
Thanks Icarus. Food for thought there. I shouldn't be too greedy.
Gone to a better place
  • #7,983
  • May 28, 2009 6:51pm May 28, 2009 6:51pm
WOW has it been choppy. Not much there for IB's unless you take some profit along the way.

I decided not to play yesterday instead opted to head to a poker tounament. Not a bad night, finished 2nd and won $180 for a $10 buy in so no complaints. (thats 18:1 R/R for you) best IB ive had all week LMAO
  • #7,984
  • May 28, 2009 9:09pm May 28, 2009 9:09pm
Quoting Razor_trader
WOW has it been choppy. Not much there for IB's unless you take some profit along the way.

I decided not to play yesterday instead opted to head to a poker tounament. Not a bad night, finished 2nd and won $180 for a $10 buy in so no complaints. (thats 18:1 R/R for you) best IB ive had all week LMAO
Razor, Poker is the 2nd thing I just can not understand in this world. It's a mental block... The 1st are Fibs...



Cheers!
Many share my views with me. But I don't share them with them...
  • #7,985
  • May 29, 2009 12:37am May 29, 2009 12:37am
Quoting HouseTrader
Razor, Poker is the 2nd thing I just can not understand in this world. It's a mental block... The 1st are Fibs...



Cheers!
It is my way to avoid gambling in the markets. However saying that, since having a renewed outlook for trading I feel I have somewhat adapted much of my mentality into playing poker. The results so far have been quite good (bar the episode of complete randomness and luck where someone calls with crap and I get nutted for it).

I dont trade with more than I can afford to loose and poker is the same. The best part of poker is FAR FAR to many take it seriously and FAR FAR more think that by being serious it helps there game. Very few understand that the vast majority of the game is luck (as opposed to skill which so many attribute winning poker as being) and at the end of the day your cards can be won or lost regardless of how strong they are. Trading has the same aspects, no matter how good a setup may be and how well you read the market, ultimatly you can only put your money in with the best setup. Lady fortuna has the final say in either case.

Thats why I love poker, very few understand the above and therefore are very easy to play and manipulate, especially online when there are no tells (a tell is something a player may do when they hold something worthy, usually a good time to fold) so therefore you can play any ole hand, if you want to gamble that is LOL.
  • #7,986
  • May 29, 2009 2:30am May 29, 2009 2:30am
Hello anyone,

I've just read 50pages of this thread. I should imagine there could have been some small changes to the system from the original.

Can I jump to certain page of thread or continue reading page by page? It's a long 533page thread at the moment.

Thank you.
  • #7,987
  • May 29, 2009 2:42am May 29, 2009 2:42am
Quoting watchout4me
Hello anyone,

I've just read 50pages of this thread. I should imagine there could have been some small changes to the system from the original.

Can I jump to certain page of thread or continue reading page by page? It's a long 533page thread at the moment.

Thank you.
Morning all
Havent posted for a while too busy with trading and day job.
Watchout4me, I`ve kept to the rules and added a couple of EMA`s. For me its the best system out there, you dont get many IB`s but when you do they are very effective. Since trading this from March 2009 I`m up well over 88% trading mini lots.
  • #7,988
  • May 29, 2009 2:58am May 29, 2009 2:58am
This strategy is as simple as it looks. Page 1 is enough to read.
Gone to a better place
  • #7,989
  • May 29, 2009 3:27am May 29, 2009 3:27am
Quoting croesesFX
Morning all
Havent posted for a while too busy with trading and day job.
Watchout4me, I`ve kept to the rules and added a couple of EMA`s. For me its the best system out there, you dont get many IB`s but when you do they are very effective. Since trading this from March 2009 I`m up well over 88% trading mini lots.

good trading croesesfx
  • #7,990
  • May 29, 2009 4:00am May 29, 2009 4:00am
pending sell on eur/gbp @ 8709
  • #7,991
  • May 29, 2009 4:26am May 29, 2009 4:26am
i am already shorting the usd/chf
  • #7,992
  • May 29, 2009 4:38am May 29, 2009 4:38am
Quoting croesesFX
pending sell on eur/gbp @ 8709
trade cancelled
  • #7,993
  • May 29, 2009 6:09am May 29, 2009 6:09am
pending buy on g/j @ 155.07
  • #7,994
  • May 29, 2009 6:49am May 29, 2009 6:49am
Quoting croesesFX
pending buy on g/j @ 155.07
I took that too. Stopped out. Quite a big ask but it's GBP/JPY.
Gone to a better place
  • #7,995
  • May 29, 2009 7:17am May 29, 2009 7:17am
Quoting smikester
I took that too. Stopped out. Quite a big ask but it's GBP/JPY.
I actually cancelled (forgot to post) as the market went lower than the IB bar
  • #7,996
  • May 29, 2009 9:07am May 29, 2009 9:07am
Quoting Razor_trader
It is my way to avoid gambling in the markets. However saying that, since having a renewed outlook for trading I feel I have somewhat adapted much of my mentality into playing poker. The results so far have been quite good (bar the episode of complete randomness and luck where someone calls with crap and I get nutted for it).

I dont trade with more than I can afford to loose and poker is the same. The best part of poker is FAR FAR to many take it seriously and FAR FAR more think that by being serious it helps there game. Very few understand that...
Well, that said, I guess I can say I'm starting to figure the Poker stuff...

Regarding to Fibs... Oh.. That I really can't understand...

Cheers!
Many share my views with me. But I don't share them with them...
  • #7,997
  • Jun 1, 2009 7:40am Jun 1, 2009 7:40am
Hi All,

a newbie question. If there is an IB say at 7pm. And we are waiting to long and the price keep dropping, then finally at 9pm, the long position was initiated. Is the trade valid if using DIBS method?

Kindly advise and thank you in advance.
  • #7,998
  • Jun 1, 2009 9:04am Jun 1, 2009 9:04am
Quoting Jiriko
Hi All,

a newbie question. If there is an IB say at 7pm. And we are waiting to long and the price keep dropping, then finally at 9pm, the long position was initiated. Is the trade valid if using DIBS method?

Kindly advise and thank you in advance.
According to Peter's rule; any trade within the first 6 hourly bars from the IB, is a valid trade...so I say, yes, if trade is triggered, take it.
  • #7,999
  • Jun 1, 2009 10:28am Jun 1, 2009 10:28am
Quoting candletrader
According to Peter's rule; any trade within the first 6 hourly bars from the IB, is a valid trade...so I say, yes, if trade is triggered, take it.
Thanks for the answer. God bless!
  • #8,000
  • Jun 1, 2009 7:50pm Jun 1, 2009 7:50pm
Quoting Jiriko
Hi All,

a newbie question. If there is an IB say at 7pm. And we are waiting to long and the price keep dropping, then finally at 9pm, the long position was initiated. Is the trade valid if using DIBS method?

Kindly advise and thank you in advance.
Yep there is no problem with holding an IB for a longer period of time with execution. Some of the best IBs happen straight after, momemtum takes you in, however in the reversal case there may be sometime between the changing of the guards. PC had a number of good trades that took of after the initial bar, and he also had some really good trades that took some time.

I believe so long as the IB is not too close to the end of London close then leaving it should be ok.
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