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The DIBS Method... No Free Lunch continues

  • #8,621
  • Sep 8, 2009 11:52am Sep 8, 2009 11:52am
Quoting dim4ik42
now you have this on Rapidshare:

http://rapidshare.com/files/27512981...I_B_S.pdf.html
The above File has expired.
Here is the Full File... Life time working Link!

http://rapidshare.com/files/27731561...xplanation.pdf


Nice Contribution dim4ik
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #8,622
  • Sep 8, 2009 4:05pm Sep 8, 2009 4:05pm
Quoting dim4ik42
Hi!

I want to say something... I may be wrong, but I think that the power of this method is in the simple of trading and understanding... Not something very complex... The pros have not time for very coplex systems... They need time for trading!
Yeah, you're right!. I shouldn't make it more complex than it is. I guess I will try the mentioned methods along the way and see which suits me best.
  • #8,623
  • Sep 8, 2009 8:58pm Sep 8, 2009 8:58pm
Well all I like to state is the fact that I've been trading IB's on the hour charts on the major pairs for the last six years and have experienced nothing but positive growth in my account. The hardest part of trading is sticking with something long enough to experience a positive outcome. I'm not trying to convince anyone this is the holy grail but it does represent the bulk/core of my trading and has provided my family and myself a really good standard of living. I encourage all to do a backtest of five years or more and than decide the merits of such a system for themselves. Well thats my 2 cents for whatever it's worth. Hope this helps/ encourages someone.-james
  • #8,624
  • Sep 9, 2009 12:30am Sep 9, 2009 12:30am
Quoting james996
Well all I like to state is the fact that I've been trading IB's on the hour charts on the major pairs for the last six years and have experienced nothing but positive growth in my account. The hardest part of trading is sticking with something long enough to experience a positive outcome. I'm not trying to convince anyone this is the holy grail but it does represent the bulk/core of my trading and has provided my family and myself a really good standard of living. I encourage all to do a backtest of five years or more and than decide the merits...
Hi, James!

Thank you for your "2 cents"!
This is very nice from you.

Can I please you about something very usefull for us today in our work?
You did say - "The hardest part of trading is sticking with something long enough to experience a positive outcome." If I did right understand you mean to hold on winning positions long enough ??? Right? Is it the key? (just Yes or NO)

If yes, please - hint us what kind of trailing-method one can use for it...
Switch on light in tunnel...
  • #8,625
  • Sep 9, 2009 12:34am Sep 9, 2009 12:34am
I'd guess he's more implying putting on the trades after a string of losers still knowing that one or two of these trades will pay forr all the losses and more.

Everyone say they still would but it's not so easy when you've lost £1000 maybe and the next signal pops up......will you take that trade or are you scared of ending up losing £1200 in a row????????
  • #8,626
  • Sep 9, 2009 12:48am Sep 9, 2009 12:48am
Quoting foredog
I'd guess he's more implying putting on the trades after a string of losers
Got it!
Gone to a better place
  • #8,627
  • Sep 9, 2009 1:59am Sep 9, 2009 1:59am
Quoting james996
Well all I like to state is the fact that I've been trading IB's on the hour charts on the major pairs for the last six years and have experienced nothing but positive growth in my account.....
Thanks for sharing your insight, James.
Hope we could see u post here from time to time.
  • #8,628
  • Sep 9, 2009 3:12am Sep 9, 2009 3:12am
Hi guys,

DIBS is sounding more and more like where I want to be headed in terms of trading.

Is this A/J a good example of inside bar which was just broken to the downside while daily candle was red? Or does it need to actually break and close the inside bar?
Attached Image (click to enlarge)
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  • #8,629
  • Sep 9, 2009 4:51am Sep 9, 2009 4:51am
Been reading this thread for past few days and have gained a lot of valuable insights. Like to contribute back.

I have updated the DIBS indicator to include configurable indications of opening hour and number of trading hours from open.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot.GIF Size: 37 KB

Attached Image


Attached File(s)
File Type: mq4 DIBSv1.1.mq4   6 KB | 2,393 downloads

Attached File(s)
File Type: ex4 DIBSv1.1.ex4   6 KB | 1,432 downloads


Hope you will find it useful for your backtesting/trading.
  • #8,630
  • Sep 9, 2009 5:49am Sep 9, 2009 5:49am
Quoting sinner-
Hi guys,

DIBS is sounding more and more like where I want to be headed in terms of trading.

Is this A/J a good example of inside bar which was just broken to the downside while daily candle was red? Or does it need to actually break and close the inside bar?
seems ok to me, large ish pin then an IB followed by a break lower.

not sure what you mean by break and close the IB?
  • #8,631
  • Edited 1:38pm Sep 9, 2009 9:50am | Edited 1:38pm
The hardest part of trading is sticking with something long enough to experience a positive outcome.

To summarize what I mean. It takes time and patience to stick with a given methodology. All proven methods have there strengths and weaknesses. One must find what works with there personality and back test it. Then back test it again and again and again. Then one needs to allocate a time frame long enough to reap the rewards. I'm not talking about a few months here either. Do you think personal financial freedom is achieved by trading for a few months? How about a few years? It's like any other business, one must pay their dues and put in their time. There will be times when no profits are made even though you have done all you could do(following a proven and back-tested method). It's part of the game. I think most people get into trading desiring the so-called life style it can offer. The problem arises when reality sets in. Trading is not about a life style of leisure but like all other careers. One must work hard to achieve success. All successful traders I know spend or have spent an incredible amount of time back testing various methods. It's hard tedious work that for the most part is manually done. I'm talking about hundreds of hours of work.This is what gets you through the drawdowns. Lossing is part of the game and one must get over it and get on with it. Also contrary from what is printed in books out there I dont know of anyone risking more than 1/4 to 1/2 percent on a given trade. The real treat given to this forum from Peter was the ideal of reaching a free trade status. The rest is all about trade management. As I type this I'm in 3 of them. I have no ideal what will happen to these trades but it's mentally easy to let them play out when in the worst case I will b/e. Thats all you need. Something to think about. Oh and I put in an average of 11 hours a day trading.Getting up at 2:30 in the morning to 1pm. Not exactly what is potrayed by the marketing gurus out there. I will get off my soapbox now.


SupremeChoas do you ride?
  • #8,632
  • Sep 9, 2009 10:23am Sep 9, 2009 10:23am
Quoting sinner-
Hi guys,

DIBS is sounding more and more like where I want to be headed in terms of trading.
It is a dibs trade but I think you may need to read the thread a little more, with respect. If you look at the way that pair has been moving this week you may consider it's not an exciting trade to take. Hope this helps a bit. Good trading to you, and take the time to do your homework and you will succeed. It's an easy strategy.
Gone to a better place
  • #8,633
  • Sep 10, 2009 3:49am Sep 10, 2009 3:49am
Quoting alipapa
Been reading this thread for past few days and have gained a lot of valuable insights. Like to contribute back.

I have updated the DIBS indicator to include configurable indications of opening hour and number of trading hours from open.

Attachment
Attachment

Attachment
Attachment

Hope you will find it useful for your backtesting/trading.
I am backtesting DIBS, but have been doing it manually on the 5 major pairs....I am not a computer savvy, how do i put the dibs indicator in MT4?
  • #8,634
  • Sep 10, 2009 4:09am Sep 10, 2009 4:09am
Quoting Fxtrader
I am backtesting DIBS, but have been doing it manually on the 5 major pairs....I am not a computer savvy, how do i put the dibs indicator in MT4?
copy the indicator to your MT4 platform folder under .../experts/indicators

Restart your MT4 platform, open the Navigator panel and u will see the indicator under "Custom Indicators". Drag the indicator to the chart will do
  • #8,635
  • Sep 10, 2009 4:14am Sep 10, 2009 4:14am
Quoting maxximuz
copy the indicator to your MT4 platform folder under .../experts/indicators

Restart your MT4 platform, open the Navigator panel and u will see the indicator under "Custom Indicators". Drag the indicator to the chart will do
Thanks, will do that
  • #8,636
  • Sep 10, 2009 4:26am Sep 10, 2009 4:26am
I am new to DIBS, am I correct that we are looking for a Short now for GU ?

IB formed below Open:

IB High = 1.6528
IB Low = 1.6504

Short at = 1.6503
SL at = 1.6533 (1 pip above IB High + spread)

Spread = 4

Let see how it goes, good luck
Attached Image (click to enlarge)
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  • #8,637
  • Sep 10, 2009 4:38am Sep 10, 2009 4:38am
Seems right to me.
USDJPY in a buy.


EDIT: GU just triggered.
  • #8,638
  • Sep 10, 2009 4:41am Sep 10, 2009 4:41am
Quoting Oromis
Seems right to me.
USDJPY in a buy.
Thanks, am still new to the DIBS, trading GU only at the moment... Good luck to your UJ
  • #8,639
  • Sep 10, 2009 6:27am Sep 10, 2009 6:27am
GU stop out
Attached Image (click to enlarge)
Click to Enlarge Name: 20090910_gu(1).gif Size: 21 KB
  • #8,640
  • Sep 10, 2009 6:38am Sep 10, 2009 6:38am
Quoting Oromis
Seems right to me.
USDJPY in a buy.


EDIT: GU just triggered.
Can you post your setup for UJ? Here is my UJ chart:-

Today - So far, I don't see a Long setup for today.

Yesterday - there is a Long but already stop out.
IB High = 92.52
IB Low = 92.43
Spread = 3

Long at = 92.56 ( IB High + 1 pips + spread )
SL = 92.42

Or I miss out something, coz I yet to finish reading all the post, too many pages to go...

thanks
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