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The DIBS Method... No Free Lunch continues

  • #9,001
  • Dec 18, 2009 11:38am Dec 18, 2009 11:38am
Quoting Razor_trader
Aim for a pathetic 10% per year, which less than 1% per month. By doing so year in and year out you will find yourself more comfortable managing larger dollars which in turn gives you a sustainable future.
Razor
i agree, thats realistic and achievable. everything above +20% a year is an outstanding year. even with a risk of 1% per trade.

because its very, very rare that you catch the trade which makes you 10% or 20% for your account.
to my experience there are only a few (2-4 trades) a year, which will make your profits.
hundreds of trades are between with no result to your euqity. they are just there to pay the commissions and slippage.
  • #9,002
  • Dec 18, 2009 3:30pm Dec 18, 2009 3:30pm
on a 1 minute chart to scalp equities at my "day job"

Its almost mindnumbingly simple in its elegence. you just need fast fingers
  • #9,003
  • Dec 19, 2009 12:19pm Dec 19, 2009 12:19pm
Quoting Razor_trader
The problem is, and i have stated this around before, is that people are thinking way to big over the longevity of there trading year, decade and life.

People come here and expect the 100:1 payoff to happen immediatly. Its not the case and for those who expect to make 100% ROI in a year, I suggest you go and join one of the '0' star, 100 or less posts threads that promise 99% wins and 100% ROI month in month out. What you will find there is disappointment.

IBs as a concept with the basis of long tails aims to produce that .5% winner that makes...

LOL.


Now even Razor Trader is admitting that dibs is pretty much a break even strategy (and it doesn't matter which time frame you use.)

Nobody is making consistent profits from dibs (and that including the big guru Peter Crowns), nor is anybody quitting the day job.

What a monumental waste of time. I'm sure there are better ways to be productive in society than dibs.
  • #9,004
  • Dec 19, 2009 1:24pm Dec 19, 2009 1:24pm
Quoting highneb
LOL.


Now even Razor Trader is admitting that dibs is pretty much a break even strategy (and it doesn't matter which time frame you use.)

Nobody is making consistent profits from dibs (and that including the big guru Peter Crowns), nor is anybody quitting the day job.

What a monumental waste of time. I'm sure there are better ways to be productive in society than dibs.
10% on a million is a better income than 3/4th the country. Just sayin!

When mixed with a knowledge of S/R and price action, this method is solid. It's just that most people aren't willing to go through the work involved to test every possible variation.

For instance, how many have tested what closing positions at 2:1, 3:1, 4:1, 5:1, at the next losing IB in the setup, with a trailing stop at the 20 MA, with one stop being at the loss of the next consecutive IB and the other portion left to run until stops are hit or we catch a runner, with stops at the next day's IB if a trade is still running, just trading 1:1, only taking trades if there are higher timeframe price action setups moving in the same direction as the IB trade, etc.

Unless you've gone through the ringer, I doubt you've put in the work needed to justify your notion of it being a "monumental waste of time".
I dream, therefore I become.
  • #9,005
  • Edited Dec 20, 2009 10:06am Dec 19, 2009 1:34pm | Edited Dec 20, 2009 10:06am
Quoting mike w
10% on a million is a better income than 3/4th the country....
You're the man Mike!

@ highneb,

Nobody here is saying DIBS is the Holy Grail, or the so waited answer to someone's quest for a way to quit its boring day-job...

It's a huge acquisition on a trader's toolbox. That's it. Plain and simple.

Cheers!
Many share my views with me. But I don't share them with them...
  • #9,006
  • Dec 19, 2009 2:12pm Dec 19, 2009 2:12pm
Quoting HouseTrader

It's a huge acquisition on a trader's toolbox. That's it. Plain and simple.

Cheers!
Exactly. Without other knowledge in the markets, if one were to hand you this method you'd probably still go bust. After watching for, oh say, thousands upon thousands of hours, things start to look a little differently though.

BTW, I forgot to mention one of the most important tests that I've done in my little list above. DIBS using only I4Bs. hmmm, there's a little something different.
I dream, therefore I become.
  • #9,007
  • Dec 20, 2009 5:47am Dec 20, 2009 5:47am
Quoting highneb
LOL.


Now even Razor Trader is admitting that dibs is pretty much a break even strategy (and it doesn't matter which time frame you use.)

Nobody is making consistent profits from dibs (and that including the big guru Peter Crowns), nor is anybody quitting the day job.

What a monumental waste of time. I'm sure there are better ways to be productive in society than dibs.
At what point did I say it was a breakeven method. If you have taken the time to actually read as well as do your own testing you would see that there is a statistical edge with this method, Nathan actually gave some good numbers. Even over 10 years of testing if you find yourself with a PF of only 1.05 based on say 5000 trades then thats a great number. If is though something that needs attention and discipline to take some trades that run past your norm, and that is where this may let down the average trader.

PC and Joel are both far from average and shows a moderate amount of arrogance and ingnorance on your behalf to make your claims but then what does it matter, you have obviously found your shrine that is making you millions because you can come and throw your 'value' into posts like the above.

I will just clap and bow at your obvious supremacy.

Oh and the bold highlight of your text shows how much of a lure this thread obviously is to you. Of your 30 or so post 95% have been submitted here for what ever reason, so its kind of odd that you return to this apparent waste of time to add your 'insight'.
  • #9,008
  • Dec 20, 2009 9:30am Dec 20, 2009 9:30am
highneb

do me a favor.......keep telling people this.......

Quoting highneb
LOL.


Now even Razor Trader is admitting that dibs is pretty much a break even strategy (and it doesn't matter which time frame you use.)

Nobody is making consistent profits from dibs (and that including the big guru Peter Crowns), nor is anybody quitting the day job.

What a monumental waste of time. I'm sure there are better ways to be productive in society than dibs.
  • #9,009
  • Dec 20, 2009 9:45am Dec 20, 2009 9:45am
Quoting highneb
LOL.


Now even Razor Trader is admitting that dibs is pretty much a break even strategy (and it doesn't matter which time frame you use.)

Nobody is making consistent profits from dibs (and that including the big guru Peter Crowns), nor is anybody quitting the day job.

What a monumental waste of time. I'm sure there are better ways to be productive in society than dibs.
Highneb: Why is this such an obsession with you? You've made 35 posts in the past two years. Each and every one is anti-DIBS. Is this all you have to say about trading? Why does this topic matter so much to you? Just wondering.
  • #9,010
  • Dec 20, 2009 11:43am Dec 20, 2009 11:43am
i understand highneb.

u need a lot of disziplin to play the small edge in trading to make constant profits.
for a newbie or even experienced trader the marktes are so exhausting and though, too tough for human beings.

my experience is, that you can show your system to any trader and he will not be profitable. because in the end it has to fit to your personality.

good traders take parts of a methodology and built it into their own system, failing traders copy 1:1 a methodology.

u need to do your own research and find your own UNIQUE way. DIBS will only help you and give you ideas, like Trendlines, dojis, fibos and indicators are doing.
  • #9,011
  • Dec 20, 2009 9:53pm Dec 20, 2009 9:53pm
this has nothing to do with personality..........it has to do with understanding basic math..........

Quoting RussiaTrader
i understand highneb.

u need a lot of disziplin to play the small edge in trading to make constant profits.
for a newbie or even experienced trader the marktes are so exhausting and though, too tough for human beings.

my experience is, that you can show your system to any trader and he will not be profitable. because in the end it has to fit to your personality.

good traders take parts of a methodology and built it into their own system, failing traders copy 1:1 a methodology.

u need to do your own research and find your own UNIQUE way....
  • #9,012
  • Dec 21, 2009 12:55am Dec 21, 2009 12:55am
Quoting razorboy
this has nothing to do with personality..........it has to do with understanding basic math..........
when u think trading DIBS is ONLY understanding basic math then do your own experience, go ahead!
you will soon realize that there is a human being behind the math.
  • #9,013
  • Dec 21, 2009 4:41am Dec 21, 2009 4:41am
Why is PC's start of the day 0600GMT? Is it the Frankfurt open? But many websites don't even mention Frankfurt in the list of trading session opens.
  • #9,014
  • Dec 21, 2009 5:03am Dec 21, 2009 5:03am
i'll say this...... yet again we have someone posting who i find utterly inspirational!! i'm inspired to bang my head against a wall again and again (although i'd prefer theirs lol)

May i suggest that anyone posting in a derogatory manner upon a subject they know very little and have done very little isn't worth the relpy.

never argue with a fool!... they will bring you down the their level then beat you through experiance.

Merry Christmas
  • #9,015
  • Dec 21, 2009 5:42am Dec 21, 2009 5:42am
Quoting icarusfx
i'll say this...... yet again we have someone posting who i find utterly inspirational!! i'm inspired to bang my head against a wall again and again (although i'd prefer theirs lol)

May i suggest that anyone posting in a derogatory manner upon a subject they know very little and have done very little isn't worth the relpy.

never argue with a fool!... they will bring you down the their level then beat you through experiance.

Merry Christmas

sounds like good advice to me
  • #9,016
  • Dec 21, 2009 6:23am Dec 21, 2009 6:23am
Quoting albertsy2
Why is PC's start of the day 0600GMT? Is it the Frankfurt open? But many websites don't even mention Frankfurt in the list of trading session opens.
Simply that it's 6 hours into the trading day for UK. If it's an up day by 6am then it's likely to be an up day and vice versa -that simple. Also trading out of the Japan/Sydney range, is a well tried and tested strategy. To by pass the recent arguments all you need then is a "hot hand". You can trade any inside bar if you want but you might only break even, especially if you are not good at trade management. If you are choosy you might learn a bit about price action on the daily and the H4. You might know a bit about inside bars and which tend to be better. Support and resistance. the list goes on. Then you might be able to spot a "hot hand". Of course, if the other guy has a wodge of aces then you lose. Nothing is guaranteed.
Gone to a better place
  • #9,017
  • Dec 21, 2009 6:28am Dec 21, 2009 6:28am
yes , its annoying

would suggest a start of a beginners or LAZY readers thread .
the old existing one is for advanced users or traders.
  • #9,018
  • Dec 21, 2009 8:05pm Dec 21, 2009 8:05pm
Quoting smikester
Simply that it's 6 hours into the trading day for UK.
Correct me if I'm wrong, but London opens 1 hour after Frankfurt. (DST has ended so London opens earlier by 1 hour now referencing my timezone, but still....) London's trading day starts at London's 8am (0800GMT). So why would PC start his day when London has not yet opened? Is it because his start of day coincides with Frankfurt open?

http://i294.photobucket.com/albums/m...t_sy2/6GMT.jpg
  • #9,019
  • Dec 22, 2009 12:11am Dec 22, 2009 12:11am
Read his posts, he explains why.



Quoting albertsy2
Correct me if I'm wrong, but London opens 1 hour after Frankfurt. (DST has ended so London opens earlier by 1 hour now referencing my timezone, but still....) London's trading day starts at London's 8am (0800GMT). So why would PC start his day when London has not yet opened? Is it because his start of day coincides with Frankfurt open?

http://i294.photobucket.com/albums/m...t_sy2/6GMT.jpg
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #9,020
  • Dec 22, 2009 1:39am Dec 22, 2009 1:39am
Quoting albertsy2
Correct me if I'm wrong, but London opens 1 hour after Frankfurt. (DST has ended so London opens earlier by 1 hour now referencing my timezone, but still....) London's trading day starts at London's 8am (0800GMT). So why would PC start his day when London has not yet opened? Is it because his start of day coincides with Frankfurt open?

http://i294.photobucket.com/albums/m...t_sy2/6GMT.jpg
You are talking about the exchange open times for equities. If you go to any trading floor in London the FX Spot desk traders are in and at work by 7am and there's usually one of them in a bit earlier than that. The other side of it is that there is macro news coming from eurozone at 8am on some occasions, companies are required to make important announcements an hour before exchange opening for equities, and all this can have an effect on FX.
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