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The DIBS Method... No Free Lunch continues

  • #8,641
  • Sep 10, 2009 6:05pm Sep 10, 2009 6:05pm
Nice update, I like the ignore Sunday bar. I was wondering if it's not too much trouble, can you change or add to the indicator so that the horizontal line draws from the previous bar close vs. the current bar open? I know it doesn't seem like a big difference...



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.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #8,642
  • Sep 11, 2009 3:11am Sep 11, 2009 3:11am
EU, IB formed, possible long and short

Open at 0600GMT = 1.4618
Spread = 2

IB High = 1.4620
IB Low = 1.4596

Long at = 1.4623
Short at = 1.4595

Currently short triggered,
Attached Image (click to enlarge)
Click to Enlarge Name: 20090911_eu.gif Size: 20 KB
  • #8,643
  • Sep 11, 2009 3:21am Sep 11, 2009 3:21am
USD/CHF

Open = 1.0352
Spread = 4

IB High = 1.0374
IB Low = 1.0352

Long at = 1.0379
Short at = 1.0351

Currently, long triggered
Attached Image (click to enlarge)
Click to Enlarge Name: 20090911_uf.gif Size: 21 KB
  • #8,644
  • Sep 11, 2009 3:44am Sep 11, 2009 3:44am
Quoting maxximuz
USD/CHF

Open = 1.0352
Spread = 4

IB High = 1.0374
IB Low = 1.0352

Long at = 1.0379
Short at = 1.0351

Currently, long triggered
Yeah!

I did take both IBs on EU and on CHf/U

EU is now at b/e.
At the worst case I will become "0"
  • #8,645
  • Sep 11, 2009 3:48am Sep 11, 2009 3:48am
The KEY here is IMHO to keep trading constantly.
  • #8,646
  • Sep 11, 2009 3:51am Sep 11, 2009 3:51am
Quoting dim4ik42
Yeah!

I did take both IBs on EU and on CHf/U

EU is now at b/e.
At the worst case I will become "0"
If I remember correctly, we will close half position at 1:1, and ride it with the free trade.

Refer to my chart, so far EU yet to hit TP1, is it becoz your chart is different with mine (different broker) or I miss out something...

Appreciate your advice, thanks
  • #8,647
  • Sep 11, 2009 4:05am Sep 11, 2009 4:05am
Quoting maxximuz
If I remember correctly, we will close half position at 1:1, and ride it with the free trade.

Refer to my chart, so far EU yet to hit TP1, is it becoz your chart is different with mine (different broker) or I miss out something...

Appreciate your advice, thanks
I trade DIBS come different. The difference is only here: I take 1 trade with 1 lot and DON'T take half profit on 1:1. In this case (1:1) i just move my STOP LOSS to B/E. Why i do so? I feel me better trading this style.
  • #8,648
  • Sep 11, 2009 4:15am Sep 11, 2009 4:15am
Yes, I think it's good to try different money management strats.
  • #8,649
  • Sep 11, 2009 4:17am Sep 11, 2009 4:17am
Currently Short EU, Long UCHF, pending short on UJ.
  • #8,650
  • Sep 11, 2009 4:17am Sep 11, 2009 4:17am
People!!!

Please, tell me if you know!

My terminal allows me to trade CFD #C, #AA, #GE, #INTC, #JPM, #XOM, #MSFT.

I do not know a lot what they are, and if are they good for trading.
My broker does not konw a lot about it too. Here in Ukraine we did not see this things earlier. Only Forex...

So - What these are, and is it normal to trade them.
After my looking at them I see that they are more simple to trade with DIBS than currencies. Am I wrong or right?
  • #8,651
  • Sep 11, 2009 4:18am Sep 11, 2009 4:18am
Quoting dim4ik42
I trade DIBS come different. The difference is only here: I take 1 trade with 1 lot and DON'T take half profit on 1:1. In this case (1:1) i just move my STOP LOSS to B/E. Why i do so? I feel me better trading this style.
Thanks, but refer to my chart, EU yet to hit TP1 (1:1). Do you mind to post your chart?

I am new to DIBS method, I went through the original thread and the first page of this thread to understand the method, but not manage to read through the whole thread as it is too many pages.... I might miss out something
  • #8,652
  • Sep 11, 2009 4:31am Sep 11, 2009 4:31am
Quoting maxximuz
Thanks, but refer to my chart, EU yet to hit TP1 (1:1). Do you mind to post your chart?

I am new to DIBS method, I went through the original thread and the first page of this thread to understand the method, but not manage to read through the whole thread as it is too many pages.... I might miss out something
Now...

I tell you, I understand that more than less trades will finish with loss. Peter Crowns did write in the forum - "the best trades for us are the ones that don't give you ANY retracement after the breakout."

I made my little research abiut 5-6 years. I did see it. The best trades do not retrace back after breakout. So, I may be wrong in my trading, but i tend to move my STOP to B/E when I have at least 10-12 pips profit. I do it very often. With EU I did the same. When it was +10 I did move Stop to b/e.
Now - I am off the trade - bcz market did hit my b/e stop.
But very often this scenario helps me not to loose money.
I do not tell that it is better or worse. I just trade so...
Attached Image (click to enlarge)
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  • #8,653
  • Sep 11, 2009 4:40am Sep 11, 2009 4:40am
Thanks for sharing what u have found out. Agreed, after all capital preservation is important.

Quote from Post #39 by PC in the original thread:

" When I'm wrong, I correct myself quickly with no ego involvement. Hesitation has little reward in life and none in trading. In trading I stay wrong for only brief periods of time and encourage you to act the same."
  • #8,654
  • Sep 11, 2009 5:05am Sep 11, 2009 5:05am
Quoting dim4ik42
People!!!

Please, tell me if you know!

My terminal allows me to trade CFD #C, #AA, #GE, #INTC, #JPM, #XOM, #MSFT.

I do not know a lot what they are, and if are they good for trading.
My broker does not konw a lot about it too. Here in Ukraine we did not see this things earlier. Only Forex...

So - What these are, and is it normal to trade them.
After my looking at them I see that they are more simple to trade with DIBS than currencies. Am I wrong or right?
Does anyone know???
  • #8,655
  • Sep 11, 2009 6:10am Sep 11, 2009 6:10am
Quoting dim4ik42
Does anyone know???
You are asking in the wrong thread. Try opening a thread in the Rookies forum or Trading Discussion forum, or even in the member's lounge. You will get more exposure to experienced traders.
Gone to a better place
  • #8,656
  • Sep 11, 2009 6:23am Sep 11, 2009 6:23am
CFD's are "contracts for delivery" or futures contracts and those are stocks. American Airlines, General Electric, etc.
If you want to trade stocks go ahead.
This is a FX forum which is why you did not get a fast reply.


Quoting dim4ik42
People!!!

Please, tell me if you know!

My terminal allows me to trade CFD #C, #AA, #GE, #INTC, #JPM, #XOM, #MSFT.

I do not know a lot what they are, and if are they good for trading.
My broker does not konw a lot about it too. Here in Ukraine we did not see this things earlier. Only Forex...

So - What these are, and is it normal to trade them.
After my looking at them I see that they are more simple to trade with DIBS than currencies. Am I wrong or right?
  • #8,657
  • Sep 11, 2009 6:48am Sep 11, 2009 6:48am
Quoting elitejets
CFD's are "contracts for delivery" or futures contracts and those are stocks. American Airlines, General Electric, etc.
If you want to trade stocks go ahead.
This is a FX forum which is why you did not get a fast reply.
Thanks for answer!!!

Yes, I know that here we speak about Forex. I will not speak here about this. Of course! But I just did want to know what it is... Just to know.

Thank you!
  • #8,658
  • Edited Apr 9, 2013 11:18pm Sep 11, 2009 8:16pm | Edited Apr 9, 2013 11:18pm
Quoting dim4ik42
Thanks for answer!!!

Yes, I know that here we speak about Forex. I will not speak here about this. Of course! But I just did want to know what it is... Just to know.

Thank you!
Hi dim4ik42,

Although this is mainly a Forex forum there is a commodities and stocks section [http://www.forexfactory.com/forumdisplay.php?f=138] where you can post any questions you have regarding stocks/commodities.

Regarding CFDs, please take a look at the attached. Hope it helps?

Z
  • #8,659
  • Sep 11, 2009 8:32pm Sep 11, 2009 8:32pm
Quoting maxximuz
USD/CHF

Open = 1.0352
Spread = 4

IB High = 1.0374
IB Low = 1.0352

Long at = 1.0379
Short at = 1.0351

Currently, long triggered
Hi maxximuz,

Prior to taking any DIBS trade, i like to look at the 4hr chart to make sure that i am trading with the established trend on that time frame. In this case, i would only be taking Valid short entry DIBS or using Long entry DIBS to reduce my position size.

Z
Attached Image (click to enlarge)
Click to Enlarge Name: UC.jpg Size: 75 KB
  • #8,660
  • Sep 11, 2009 9:23pm Sep 11, 2009 9:23pm
Quoting zuret9
Hi maxximuz,

Prior to taking any DIBS trade, i like to look at the 4hr chart to make sure that i am trading with the established trend on that time frame. In this case, i would only be taking Valid short entry DIBS or using Long entry DIBS to reduce my position size.

Z
Thanks a lot Zuret9, will try that out.....
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