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The DIBS Method... No Free Lunch continues

  • #8,401
  • Jul 22, 2009 9:26am Jul 22, 2009 9:26am
Quoting advfntrader
just learning this method but I see you HAVE to get out half at 1:1 as it can turn on your pretty fast !
I depends on you as a trader. When I place my trades 1:1 doesnt come in the equation until after the trade has run past it, then I put in my 1:1 exit meaning I dont take of 1/2 at 1:1 unless the market comes back and takes it out. This allows for me to, in the event the market runs, to move my initial 1:1 to above and have a full trade that potentially rewards me at a greater level.

This will work, as with most IBs when the market starts to trend. These past few months have been tough, just have a look at a monthly chart and you will see that the market has run both ways and then closed close to its opening point, so ultimatly the trend hasnt been long standing enough to gain really great results.

Take care

Razor
  • #8,402
  • Jul 22, 2009 10:01am Jul 22, 2009 10:01am
If I remember correctly, back last year or so in this thread, it was discussed that alternate starting times were working for some folks. Particularly on the /jpy crosses. Did I remember correctly, and what was this alternate starting time?
Rusty
  • #8,403
  • Jul 22, 2009 12:18pm Jul 22, 2009 12:18pm
Nice one for me +45 so far
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Seek not to change the world; seek only to change your mind about the world
  • #8,404
  • Jul 22, 2009 12:29pm Jul 22, 2009 12:29pm
Quoting gez40
Nice one for me +45 so far
You shoould have reached 1:1 by now. I love free trades

Rusty

nice!

I am still waiting for my funds to clear my broker.
  • #8,405
  • Jul 22, 2009 12:31pm Jul 22, 2009 12:31pm
Quoting rusty105
You shoould have reached 1:1 by now. I love free trades

Rusty

nice!

I am still waiting for my funds to clear my broker.
yep
Seek not to change the world; seek only to change your mind about the world
  • #8,406
  • Jul 22, 2009 2:38pm Jul 22, 2009 2:38pm
Quoting rusty105
If I remember correctly, back last year or so in this thread, it was discussed that alternate starting times were working for some folks. Particularly on the /jpy crosses. Did I remember correctly, and what was this alternate starting time?
Rusty
6am GMT and 12am GMT (Mid Night)

Z
  • #8,407
  • Jul 22, 2009 2:46pm Jul 22, 2009 2:46pm
Quoting gez40
Nice one for me +45 so far
I was in at .6400 just above that pin bar. When i say the DIBS i knew a few friends will join me on the trade to .6500

Z
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  • #8,408
  • Jul 23, 2009 2:20am Jul 23, 2009 2:20am
support from 39ema again, trade still open
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Seek not to change the world; seek only to change your mind about the world
  • #8,409
  • Jul 23, 2009 5:24am Jul 23, 2009 5:24am
Quoting gez40
support from 39ema again, trade still open
What indicator are you using?

Thanks.
  • #8,410
  • Jul 23, 2009 6:32am Jul 23, 2009 6:32am
Quoting calderone
What indicator are you using?

Thanks.

Check post 8355
Seek not to change the world; seek only to change your mind about the world
  • #8,411
  • Jul 23, 2009 11:26am Jul 23, 2009 11:26am
Quoting calderone
What indicator are you using?

Thanks.
http://www.forexfactory.com/showpost...postcount=8355
  • #8,412
  • Jul 23, 2009 11:45am Jul 23, 2009 11:45am
Hi Gez ,

Your indicator for I/B misses some I/B's ? I see a setting on it for # of bar backs but it still doesnt recognize all I/B ? Is there way to set so that all I/S bars show up ?


Thanks ,

EZ
" Master Your Set-Up , Master Yourself "
  • #8,413
  • Jul 23, 2009 12:03pm Jul 23, 2009 12:03pm
Quoting EZTrades
Hi Gez ,

Your indicator for I/B misses some I/B's ? I see a setting on it for # of bar backs but it still doesnt recognize all I/B ? Is there way to set so that all I/S bars show up ?


Thanks ,

EZ
EZ

It`s based on the indicator in the pdf, this one uses atr as well hence the name NR4ID-ATR, read the book should make it clearer.

This one picks every IB and marks the high low of the mother bar.

All the best

Gez.
Attached File(s)
File Type: mq4 H1H1_IB_Indicator.mq4   6 KB | 1,184 downloads
Seek not to change the world; seek only to change your mind about the world
  • #8,414
  • Jul 23, 2009 2:51pm Jul 23, 2009 2:51pm
Quoting EZTrades
Hi Gez ,

Your indicator for I/B misses some I/B's ? I see a setting on it for # of bar backs but it still doesnt recognize all I/B ? Is there way to set so that all I/S bars show up ?


Thanks ,

EZ
EZTrades

If you use the following settings, you should be able to pick up a lot more inside bars.

Although i don't use this indicator myself, i can see where it will be very handy indeed.

Z
Attached Image
  • #8,415
  • Jul 23, 2009 3:13pm Jul 23, 2009 3:13pm
Thanks gez and zuret9 ,


I 'll try to change the settings . I have another I/B indy that paints the bar , but its the same , it only paints some of the I/B's but not all .
Thanks for your help .



EZ
" Master Your Set-Up , Master Yourself "
  • #8,416
  • Jul 24, 2009 4:39am Jul 24, 2009 4:39am
Quoting EZTrades
Thanks gez and zuret9 ,


I 'll try to change the settings . I have another I/B indy that paints the bar , but its the same , it only paints some of the I/B's but not all .
Thanks for your help .



EZ
Try this...
Attached File(s)
File Type: mq4 DIBSv1.0.mq4   5 KB | 721 downloads
Seek not to change the world; seek only to change your mind about the world
  • #8,417
  • Edited 4:49pm Jul 24, 2009 4:02pm | Edited 4:49pm
Originally posted by Jaroo

IB on which hour?
You can play an IB, be it at 5.00 GMT, 4.00 GMT, 3.00 GMT or even 2.00 GMT as long as it is off the Open of the Day, 6.00 GMT. Peter's charts show this.

Thanks a lot Jaroo.

Pls I want to understand what u mean by your statmente as above. I was following d understanding by PC that d IB to follow must be formed after d trading day open price, but I discovered on your chats attached that U pointed out some IBs that formed before d trading day open price @ 6.00GMT. Do U mean to say that PC rule recommends breakouts (up or down) base on such IBs?

Secondly, can you teach me how to close a fraction of my open position, while the remaining is kept running; eg. running a position of 2 lots, to close 1/2 of it, what do I key in?

You Do Well!
  • #8,418
  • Jul 24, 2009 4:30pm Jul 24, 2009 4:30pm
Quoting Orjiel
IB on which hour?
You can play an IB, be it at 5.00 GMT, 4.00 GMT, 3.00 GMT or even 2.00 GMT as long as it is off the Open of the Day, 6.00 GMT. Peter's charts show this.
Hi Orjiel,

Welcome to the DIBS thread. What was meant is that when an inside bar forms between 3am-5am GMT it is ok to take the break of the high after 6am.

The attached chart shows an example. Inside bar formed at 5am but was only broken at 7am, this is still classed as a valid DIBS.

Hope this helps?

Z
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  • #8,419
  • Jul 24, 2009 5:23pm Jul 24, 2009 5:23pm
Quoting Orjiel
Originally posted by Jaroo

IB on which hour?
You can play an IB, be it at 5.00 GMT, 4.00 GMT, 3.00 GMT or even 2.00 GMT as long as it is off the Open of the Day, 6.00 GMT. Peter's charts show this.

Thanks a lot Jaroo.

Pls I want to understand what u mean...
I see you have now highlighted in green certain section of your initial comments!!! Here is another chart, this time from one of Peter Crowns postings. An inside bar formed at 3am but was taken at 6am.

Please go back and re-read the whole thread, take your time and formulate a plan that you feel comfortable with. Also note that DIBS is well defined but we all have our various ways of filtering out the trades we take or don't take.

Good Luck.

Z
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  • #8,420
  • Jul 26, 2009 6:01am Jul 26, 2009 6:01am
Quoting PeterCrowns

  1. After simulating 18,554 Forex trades he calculates the profit factor of his simple version of DIBS as 1.27. (return of 127 dollars for every 100 dollars risked. With 1/2 profit taking profit factor dropped to 1.21 but the equity curve was substantially smoother making possible greater leverage.

I have no doubt in the power of this method, but I've always wanted to know... how much are people willing to risk per trade on this?
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