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The DIBS Method... No Free Lunch continues

  • #8,501
  • Aug 3, 2009 10:58am Aug 3, 2009 10:58am
They took a little while kick, but when they did

Took 2/3 at a little over 1:1, then took the rest at about +100 pips. I need to build account capitol, did't want to give back, and they started to level off around 15:00 GMT. Looking forward to tomorrow~!


Rusty
  • #8,502
  • Aug 3, 2009 4:34pm Aug 3, 2009 4:34pm
mjs5

Yes I did try diff. pip ranges and of course they vary for the pair you are trading. Of course I had mixed results.
I believe in the case of SL method/settings you have to ask yourself and define in writing what you are trying to accomplish. Are you trying to get a runner or extract a certain % of a daily/weekly/hourly/whatever move.
It's a personnel choice and I know for me it has changed over time. As a matter of fact it changes back an forth. Currently I am not trying very hard to catch a runner and get out of some trades to early.But I am comfortable and don't waste as much time as I used to saying I should have done this or that.
  • #8,503
  • Aug 3, 2009 7:45pm Aug 3, 2009 7:45pm
Quoting rusty105
They took a little while kick, but when they did

Took 2/3 at a little over 1:1, then took the rest at about +100 pips. I need to build account capitol, did't want to give back, and they started to level off around 15:00 GMT. Looking forward to tomorrow~!


Rusty
That is fine, well done. I took my total profits yesterday when we hit weekly areas of S/R and the market stall. in total almost 450 pips. Im now looking at PA in areas of previous resistance seeing if they hold now as support. If they do then we may break the monotony of the previous few months and be back with the trends.

Nice start m8

Razor
  • #8,504
  • Aug 4, 2009 4:47am Aug 4, 2009 4:47am
All my set ups are blown for a half hour so I thought I would wade into your back testing discussion.
I have not found a lot of value in back testing much more than to look at how a method behaves in a couple of trending markets and a couple of ranging markets.
Its pretty similar to trying to forecast a basketball game based on how the teams performed in there games over the last 5 years. Now that I think about it back testing 4x for long periods is even more useless.
In a BB game the rules have pretty much remained the same over time,in 4X governments and brokers etc. are changing the rules all the time.
In BB we know when the players change, in 4X we don't. Heck in 4X we don't even know who showed up for the game on a given day or who is sick or had a fight with there wife or got caught with there mistress. In BB or any other sport we can find that all out by reading the newspaper.
I could go on but you get the point....or don't.
  • #8,505
  • Aug 4, 2009 12:40pm Aug 4, 2009 12:40pm
Well chop-chop is the word of the day.

Anybody get any DIBS today?

Rusty
  • #8,506
  • Aug 4, 2009 12:51pm Aug 4, 2009 12:51pm
Quoting rusty105
Well chop-chop is the word of the day.

Anybody get any DIBS today?

Rusty

Hi Rusty,

Took one this morning on the usdjpy, only got 40 pips, apart from that not much else for me, as you say chop chop.
usdcad seems to be moving right now.

Gez
Seek not to change the world; seek only to change your mind about the world
  • #8,507
  • Aug 5, 2009 9:19am Aug 5, 2009 9:19am
Been a bit busy today, caught this for +35, everyone else doing ok?
Attached Image (click to enlarge)
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Seek not to change the world; seek only to change your mind about the world
  • #8,508
  • Aug 5, 2009 9:54am Aug 5, 2009 9:54am
Quoting gez40
Been a bit busy today, caught this for +35, everyone else doing ok?

Missed that one, (we'll get back to that in a second) But got GBPUSD @ 0800 GMT Long from 1.6934. It went into a free trade within an hour, and was up 100+ Pips, until it retraced, closed it for +58pip. Also got EURUSD @ 1100GMT Long from 1.4401. That one also went to a free trade, but then retraced back to SL.

My money management is a little different then what I think most do with DIBS. At the 1:1 point, or a little above, I close about 2/3rds of the order, and let the rest run free. I also bring the SL to the entry point, so that if it retraces, the last 1/3 of the original order will NET 0, and not lose any $$. I have been doing this to build up account capitol until a point where I am a little more confidant that that market will pick a direction, and stay that way for a while.

As far as EURGBP:
I never really looked at that one before, but I will have to start looking at it. How has it been working for you?

Rusty
  • #8,509
  • Aug 5, 2009 10:38am Aug 5, 2009 10:38am
Quoting rusty105
Missed that one, (we'll get back to that in a second) But got GBPUSD @ 0800 GMT Long from 1.6934. It went into a free trade within an hour, and was up 100+ Pips, until it retraced, closed it for +58pip. Also got EURUSD @ 1100GMT Long from 1.4401. That one also went to a free trade, but then retraced back to SL.

[size=2]My money management is a little different then what I think most do with DIBS. At the 1:1 point, or a little above, I close about 2/3rds of the order, and let the rest run free. I also bring the SL to the entry point,...
EURGBP is one of my favs to trade, can`t believe i missed the cable though that`s also one i trade a lot, mind you i have had a busy day doing other stuff.

Well done on your trades though.

Gez
Seek not to change the world; seek only to change your mind about the world
  • #8,510
  • Aug 6, 2009 7:02am Aug 6, 2009 7:02am
DIB formed in consolidation and broke to downside. 5 min chart shows retest of breakout level. Small profit as we approach ADP numbers... as always entering trades is easy, managing them more difficult.
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  • #8,511
  • Aug 6, 2009 8:22am Aug 6, 2009 8:22am
I didn't see this in the original posts or any of the modified threads so please don't redirect me there and help me out by answering if you guys wouldn't mind.

If you get a DIBS signal and the breakout happens opposite of the trend (expected) how long will the original DIBS signal be valid.

For example: On the one hour chart you have a down day and thus only short DIBS. However the bar after the inside bar breaks up and it runs up for 3 hours then comes back down and breaks through the original bar signal. Is this entry still valid? How long would any individual signal be valid?

Thanks in advance,
The Fens
  • #8,512
  • Aug 6, 2009 9:08am Aug 6, 2009 9:08am
When your not around and you get something like the chart below. We have 3 Ibs inside a parent candle which are getting tighter and tighter, then a breakout candle that closes as a Bearish Outside Bar and WWWWWWWWWAAAAAAAAAAAAMMMMMMMMMMMM a 100+ pip break to the downside. A great setup were the rules would have had you take a break at either end, as the parent IB (1st one) was close enough to open/close of 6 am candle. Had you set it up with the first IB (not closed down your risk on the following IBs) then you would be laughing. Had you adopted the 1:1 after the move then you would be well up over 3x risk on that break candle to have take your initial 1/2 off.

These dont happen to often, but they are the ones that help. I can now take comfort in the fact the market has moved backwards which opens up some more room to the upside.

Hope at least someone caught the bullet train

Razor
  • #8,513
  • Aug 6, 2009 9:26am Aug 6, 2009 9:26am
Quoting Razor_trader
When your not around and you get something like the chart below. We have 3 Ibs inside a parent candle which are getting tighter and tighter, then a breakout candle that closes as a Bearish Outside Bar and WWWWWWWWWAAAAAAAAAAAAMMMMMMMMMMMM a 100+ pip break to the downside. A great setup were the rules would have had you take a break at either end, as the parent IB (1st one) was close enough to open/close of 6 am candle. Had you set it up with the first IB (not closed down your risk on the following IBs) then you would be laughing. Had you adopted...
Nice "little" move, i was on that nice ride.

I've been working on a system that has generated over 100pips daily (in these chop chop market) so haven't been able to post here as much as i would have liked.

Z
  • #8,514
  • Aug 6, 2009 9:30am Aug 6, 2009 9:30am
Quoting zuret9
Nice "little" move, i was on that nice ride.

I've been working on a system that has generated over 100pips daily (in these chop chop market) so haven't been able to post here as much as i would have liked.

Z
Ive had a bad combination of work and more work, hence my involvement at these lame times has been limited. However being lame, I still lament missing that single move, given that most of my attention over the past 2 months has been cable, G/J and E/J crosses. Ohwell, onto the next lol

Razor
  • #8,515
  • Aug 7, 2009 6:35pm Aug 7, 2009 6:35pm
Hello, i been reading all DIB's posts and try some trades, the system is really strong and simple, i have a doubt on this trade, i toke the trade on the line N.1, i want to know if the line N.2 is a valid entrie or the next valid entrie is the line N.3

ty
Attached Image (click to enlarge)
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  • #8,516
  • Aug 8, 2009 5:49am Aug 8, 2009 5:49am
Quoting bacoazul
Hello, i been reading all DIB's posts and try some trades, the system is really strong and simple, i have a doubt on this trade, i toke the trade on the line N.1, i want to know if the line N.2 is a valid entrie or the next valid entrie is the line N.3

ty
Hi bacoazul,

Welcome to the DIBS thread. You seem to have a good hand of what DIBS is about.

Following DIBS strictly, you would have gone long above line N.1 and would have been stopped out. Then you would have gone short below line N.2 and had a good ride.

Line N.3 would have been your best entry considering NFP news had just recently been released.

We all apply different filters to our DIBS trades. A good filter is not to be in a trade prior to NFP being released (or at least tighten your stop(s) to lock in profits).

I personally was short at Line N.3 but also took a quick 'scalp' on the 5minute chart as shown.

Something that needs to be pointed out is the risk of this trade. SL at over 85pips ( i would have dumped my positions long before that if things went wrong).

Hope this helped?

Z
Attached Image(s) (click to enlarge)
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  • #8,517
  • Aug 8, 2009 10:23am Aug 8, 2009 10:23am
Quoting bacoazul
Hello, i been reading all DIB's posts and try some trades, the system is really strong and simple, i have a doubt on this trade, i toke the trade on the line N.1, i want to know if the line N.2 is a valid entrie or the next valid entrie is the line N.3

ty
Hi bacoazul,

Looking at your chart you don`t seem to have your 6am open line in the right place, look at the chart on zurets post, his open line is slightly higher than yours, i think you have yours set to the close of the 6am candle which would be 7am open, drop down to a 1min chart and look at the 5.59am candle, the close of that would be your 6am open.

Gez.
Seek not to change the world; seek only to change your mind about the world
  • #8,518
  • Aug 9, 2009 11:02am Aug 9, 2009 11:02am
ty zuret9, that was very helpful, im gonna try to post more charts and more questions, gez40 i just check and seems that my 6:00 a.m. line is just at the open of the 6:00 a.m. (GTM) candle open, i look the hours here http://rmartos.galeon.com/trucos/HorasDelMundo.htm
and when is 6:00a.m. GTM my line starts to draw, but im gonna check again at the next 6:00 a. m. candle.

Ty all for the answers
  • #8,519
  • Aug 10, 2009 12:07pm Aug 10, 2009 12:07pm
Some nice trades today with DIBS, hope you all got some...
Attached Image(s) (click to enlarge)
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Seek not to change the world; seek only to change your mind about the world
  • #8,520
  • Aug 10, 2009 6:05pm Aug 10, 2009 6:05pm
Quoting gez40
Some nice trades today with DIBS, hope you all got some...
Yesterday was a very good day. I took 3 trades in total but cut down the timeframe to 15 mins on the IBs i liked and got a nicer entry, in some cases the risk was only 12 pips (instead of 25-30) which allow me to load up a little more. I took my first trade off at 143 pips (full lots also, didnt come back to my 1:1 point) which worked out at close to 11:1, I still have 2 trades running, both full lots with Cable trade also at close to 100 pips, and my E/U ran overnight and has now pulled back slightly, however looks read to drop again with it forming a new Lower High.

Well done to those who took the trades. I would normally leave all trades running for longer but am looking at things a little differently until the trend really looks like kicking off.

Im still quite bearish for G/U, E/U and commodities, we will just have to see how the rest of the week pans out

Razor
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