The DIBS Method... No Free Lunch continues | Page 466 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The DIBS Method - No Free Lunch Returns 13 replies

No Free Lunch but all the Free Coffee you can drink 736 replies

Peter Crown's DIBS method revisited 14 replies

DIBS Method EA 11 replies

Problem using Dibs EA 4 replies

Attachments: The DIBS Method... No Free Lunch continues
Exit Attachments

The DIBS Method... No Free Lunch continues

  • #9,301
  • Feb 25, 2010 5:10pm Feb 25, 2010 5:10pm
Quoting Basber
I Forgeted The Word "Hot Hand". I Have No Intension To Argue With You. I Found You Post a Little Harsh, Now I Believe I Misunderstood You.

I'd Buy The Market That Was Up For The Day (I Drew Line At 6GMT As Peter Said) And Vice Versa. I Didn't Buy Below That Line And Vice Versa.

The Thing I Didn't Do, Was Comparing With Last Week's Close. In Some Peter's Trades, He Didn't Compared It To Last Week Close (Trades Are In No Free Launch ... )

I'll Be Glad To Here Your "Experiences" About This System.

Regards,
Basber

Don't take this as an attack.

I actually want to read your posts but it is much harder to read a post with every word capitalized than one where you just capitalize the beginning of the sentence. That help the eye follow your structure and pace.

Can you please stop capitalizing every word?
  • #9,302
  • Feb 25, 2010 7:51pm Feb 25, 2010 7:51pm
this method does not work no matter what instrument and time frame you apply it to
waste of time
  • #9,303
  • Feb 25, 2010 8:33pm Feb 25, 2010 8:33pm
Quoting eurolinux
this method does not work no matter what instrument and time frame you apply it to
waste of time
Yeas... BTW this method is used on majors and 1H TF.
Many share my views with me. But I don't share them with them...
  • #9,304
  • Feb 25, 2010 11:00pm Feb 25, 2010 11:00pm
Quoting kiwi_trader
Don't take this as an attack.

I actually want to read your posts but it is much harder to read a post with every word capitalized than one where you just capitalize the beginning of the sentence. That help the eye follow your structure and pace.

Can you please stop capitalizing every word?
Yes I thought about this too. This gentleman is Iranian. His native tongue is Persian and he would normally write in Persian script so I think it's a great achievement to write in English at all. Hey Basber you're welcome.

By the way Housetrader . Your acting doorman here next month as well. You do it so well. LOL
Gone to a better place
  • #9,305
  • Feb 26, 2010 4:10am Feb 26, 2010 4:10am
Quoting smikester

By the way Housetrader . Your acting doorman here next month as well. You do it so well. LOL

lol thats why he's callled Housetrader...... because he's got lots of patients!! boom boom.. thanks ..yes i'm here all week :OD
  • #9,306
  • Feb 26, 2010 7:09am Feb 26, 2010 7:09am
A few questions...

I’m gonna point out one thing that I’ve always come back to in one of PC’s posts: not all breakouts are the same
Question number 1: What does this really mean? Have you ever thought about this line, and I mean really thought hard about it?

He continues by saying:
I know which breakouts have 2 - 5 times the edge of similar-looking breakouts others take, get frustrated with, and likely lose money trading if they don't have perfect skills.
Question number 2: What does this mean?

In another post he says:
the best trades for us are the ones that don't give you ANY retracement after the breakout
Question number 3: What do we do if we get a retracement?

This is my absolute favourite post
Question number 4: He calls it The DIBS trade of the Month! How can he know that for sure?

Question number 5: Why did he say that he loved the trade posted by Jarro here in this post, what was so special about is?

----------------------------------------------------------------------

Here I've put just a few of the things that I've been having in my mind over and over again since I first read PC's posts, and I've read PC's posts countless of times. Did you ever read PC's posts and thought about them, and I mean really thought about them? By that I don't mean: "Ok I see what he means, let's head over to the charts and see if I can find a trade?" By that I mean fully understand what he is so generously trying to say to us.

This is his profile, and this is what he says on the subject Preferred Trading Strategy/System(s):
Breakout systems work the best for me. Finding ranges that have to breakout are my bread and butter
My last question here is: what's a range, and when and why does price have to breakout of that range?

--------------------------------------------------------------

PC's words are so full of wisdom and before you say that this system doesn't work, please try to understand how, why and when it's successfull. Do you think that it will take 1 day, or maybe 1 week? Do you think that PC has been profitable for such a long time, if he had only been studying it for a short period of time? Do you think doctors get a job after studying 1 year?

Yes there's a lot to learn, but if you treat this as a hobby, well guess what - that is how Forex will treat you! It will play with you whenever it feels like it... Study and make this system (or any other system) your own. There isn't one way to trade DIBS, and not all of us will take the same DIBS trades. Explore, learn and you'll profit, but remember that it won't happen over night and if you're gonna give up immediately maybe you should think about doing something else with your precious time...

By the way: the answer to number 3 is in PC's posts (what a shocker I know)! Can you find the answers to the rest of them? Maybe the answer is there to be found, and maybe there's more than one answer but only one that suits you... And maybe you have your own set of questions that is in need of answers...

Best of luck!
  • #9,307
  • Feb 26, 2010 7:49am Feb 26, 2010 7:49am
Thanks NowandLater. I can't believe that it's taken me so long to discover this thread and method. The entries are easy to spot, and it just works. I'll need to look through my history to see for sure, but the large majority (60%+) hit the "free trade" point where I let the second run free.

I'm experimenting now order sizing - for instance, taking profit on a larger portion of the trade so that I collect a bit of profit while the smaller portion sits for the long tail. Maybe only 1 out of 20 trades will catch that long tail, but those trends can last for months.

Looking at PC's posts, you can see that his fave trade was up against a trendline and had multiple IBs. This is a very low risk trade - if it breaks that trend, it will break big. Obviously, the smart money is undecided. I haven't looked at the EURUSD mirror of that setup, but I'd bet that some large options were not far from that point (they sit at the 1.xx00 and 1.xx50 prices, usually). This would pull the trade even harder in that direction.

This method is an eye opener. I'm just glad this system gets buried under all the junk.
  • #9,308
  • Feb 26, 2010 7:54am Feb 26, 2010 7:54am
Quoting Catch-22
IB on GJ 1 hour incase you haven't seen it. - South

just wanted to highlight this trade of catch-22..... i've said i'm not gonna post here anymore about the validity for dibs but i just can't help myself!

anyway good trade the currency had some good momentium and the ib was nice and early in the trading day! today also brought a re-entry after another ib break (again nice and early) both trades should be 1/2 closed and stops@ or above break even.... the first currently stands @ 1:4 r/r the 2nd @1:3 we have a position with no risk!

think about it... we have a position currently worth (if total initial risk was 1%) about 3.5% and we have no risk to our capitial

this is how trading is done by many many people not dibs per se but the application of position building within a trade, please read and understand infinite yield theory.

always ask yourself would you take the other side of your trade? ie with a fixed small profit but with unlimited risk?

have a nice weekend all.

again good trade catch!
  • #9,309
  • Feb 26, 2010 7:56am Feb 26, 2010 7:56am
Quoting kiwi_trader
Don't take this as an attack.

I actually want to read your posts but it is much harder to read a post with every word capitalized than one where you just capitalize the beginning of the sentence. That help the eye follow your structure and pace.

Can you please stop capitalizing every word?

Quoting smikester
Yes I thought about this too. This gentleman is Iranian. His native tongue is Persian and he would normally write in Persian script so I think it's a great achievement to write in English at all. Hey Basber you're welcome.

By the way Housetrader . Your acting doorman here next month as well. You do it so well. LOL
Sorry, I just did it for fun, and now that it's not fun anymore, I'll no longer intend to do it, because one of my friends once told me that's hard to read, and now that disagreement with this style of typing (maybe a terrible one!) become more, so i'll put it aside.

Thanks Smikester for nice words As you said, English is my second language, so pardon me if I don't write as good as native people

Anyway, I just wanted to know results by traders who are trading with this method as a daily routine ... I'll be thankful to hear your experiences guys/gals.

P.S. : Hmmm ... I think it's good to get rid of pressing "shift" at the first of every single word ! LOL

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #9,310
  • Edited 12:40pm Feb 26, 2010 7:57am | Edited 12:40pm
Quoting NowAndLater
A few questions...

I’m gonna point out one thing that I’ve always come back to in one of PC’s posts: not all breakouts are the same
Question number 1: What does this really mean? Have you ever thought about this line, and I mean really thought hard about it?

He continues by saying:
[i]I know which breakouts have 2 - 5 times the edge of similar-looking breakouts others take, get frustrated with, and likely lose money trading if they...
Good ole NAL striking again!!!

I'm very pleased to see you around my friend, and realise that you just didn't lost the grip on DIBS... As usual, a great post.... Wish I could give you another "v" .... this post deserves....

Cheers and take care my friend...

HT
Many share my views with me. But I don't share them with them...
  • #9,311
  • Feb 26, 2010 8:01am Feb 26, 2010 8:01am
Quoting Basber
I've Told You Matt, I Just Read PeterCrowns Posts, And There Was No Thing Named "Hot Hand". Now That I Realized It, I Can Test It Again Over This Weekend.

I Didn't Invent Anything. As You Know, This Hot Hand Is Just a Filter. First Go Through What You Wanna Say And Then Post It ! If You Can't Support a System (Please Don't Call Your Post a Support !!), Then They Don't Tell You You're Aphonous And Speechless. I Was Just Contributing About This Method. If You Can't Stand It And Get Emotionally Involved, It Better To Observe Than Posting Like...
You're pretty welcome, Basber

Just saw your post. Yes, I'm interested on knowing about your trading style.... will send you a PM later...

Cheers!
Many share my views with me. But I don't share them with them...
  • #9,312
  • Feb 26, 2010 11:03am Feb 26, 2010 11:03am
I find that the reason for all these endless warfare is impatience. Since I found this thread, I've read it over and over because I met some cryptic sentence construction from PC. I have used IB with good success, maybe because I was not looking for a perfect tool but a simple guide. I don't trade IB without first looking to identify the nearest historical support and resistace because I find that this could very easily rubbish a trade that would have come out good.
If you take IB without considering other factors, you might never be successful in it. Same with other trading systems. We all need discretion and filters we're comfortable with.
If I spot an IB on H4 and consider all other roadblocks, a 4 hour IB has been more profitable for me, surprisingly followed by M30 IB.
Please Gentlemen and Babes let's end this war of words and concentrate on searching to see if there is any value in IB trading.
Backtesting and Forwardtesting can be nuisance, they don't make all the considerations a reasonable human can, so let's not argue over them.
This is advice from an FF newbie

Kennedy
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #9,313
  • Feb 26, 2010 5:28pm Feb 26, 2010 5:28pm
Quoting HouseTrader
Good ole NAL striking again!!!

I'm very pleased to see you around my friend, and realise that you just didn't lost the grip on DIBS... As usual, a great post.... Wish I could give you another "v" .... this post deserves....

Cheers and take care my friend...

HT
Hiya mate! Today I was home (sick) and felt like typing a little . Just had to put it up there... And thank you
  • #9,314
  • Feb 27, 2010 3:43pm Feb 27, 2010 3:43pm
Quoting NowAndLater
A few questions...

I’m gonna point out one thing that I’ve always come back to in one of PC’s posts: not all breakouts are the same
Question number 1: What does this really mean? Have you ever thought about this line, and I mean really thought hard about it?

He continues by saying:
[i]I know which breakouts have 2 - 5 times the edge of similar-looking breakouts others take, get frustrated with, and likely lose money trading if they don't have perfect...
I have read Crown's posts a few times and asked myself these very same questions (only these 2). I have also asked myself why doesnt he post the answers to these, lets face it, easy and intuitive questions, if his system is so profitable. My conclusion is: this man's posts are way overrated. I dont doubt that he is a very good trader and that he's had success with the IB's, but in the form that is presented here, im pretty sure it's a breakeven strategy long term. That being said, trading IB's on higher timeframes, such as Daily or Weekly is better. Price Action, is superior to any kind of multiple ema/indicators system and i came to this conclusion in only 2 months of Forex. Im glad...
  • #9,315
  • Feb 28, 2010 6:33am Feb 28, 2010 6:33am
is this some sort of joke or rhetorical question?

Maybe PC should just cut you a few checks every month and put them right in your account.

Given the quality of back tested and interpretation of the english language, most of the time by native english speakers, on this site, I'm not surprised at the conclusion most people arrive at

If the answers are so easy and intuitive, figure it out (and post the results) yourself lazy ass.........


Quoting Alexone
I have read Crown's posts a few times and asked myself these very same questions (only these 2). I have also asked myself why doesnt he post the answers to these, lets face it, easy and intuitive questions, if his system is so profitable. My conclusion is: this man's posts are way overrated. I dont doubt that he is a very good trader and that he's had success with the IB's, but in the form that is presented here, im pretty sure it's a breakeven strategy long term. That being said, trading IB's on higher timeframes, such as Daily or Weekly is better....
  • #9,316
  • Feb 28, 2010 8:05am Feb 28, 2010 8:05am
Hi, this is my first post so please go easy on me, and apologies in advance if this has been discussed before....

I started reading the Peter Crown threads last night and was really excited at the propect of using such a simple but what appeared to be effective strategy.

However I just did a quick back test for last week (22nd Feb to 26th Feb 2010) on cable and EUR/$ and found that the majority of trades where losers and overall trading this system would have lost me money.

This was of course just looking at the last 5 days so this does not constitute a representitve sample so i just wondered if anyone keeps a daily performance log of this strategy?

Thanks
  • #9,317
  • Feb 28, 2010 10:29am Feb 28, 2010 10:29am
Quoting razorboy

If the answers are so easy and intuitive, figure it out (and post the results) yourself lazy ass.........
Actually, you should read my post again. It's easy to be ignorant. I said in my post that the questions are easy and intuitive. The answers however are clearly not and im not even sure if there's anybody out there who would want to cough them up so easily. I know i wouldnt if i knew them.
  • #9,318
  • Feb 28, 2010 10:51am Feb 28, 2010 10:51am
Quoting NowAndLater
This is my absolute favourite post
Question number 4: He calls it The DIBS trade of the Month! How can he know that for sure?
Your post is interesting, but you start from the premises that everything PC posted is correct and should be taken as is. I also dont understand why you use so many words and be all mysterious about it.

I understand why this is your favorite post. The pair was up quite a lot from the start of the day, also it was above the Daily Open, hot hand (or whatever) and everything, so this is a good trade, Peter Crowns wise. If you trade inside bars, assuming that the pair has moved a lot from the starting of the day and therefore is hot, you are making a mistake imo. IB's signify, according to almost all the books i read, a change or a weakening of the trend. It seems illogical to me that PC always assumes that the trend will continue in the same direction if IB's are a reversal pattern, wouldnt u agree?
  • #9,319
  • Feb 28, 2010 3:47pm Feb 28, 2010 3:47pm
Quoting Alexone
Your post is interesting, but you start from the premises that everything PC posted is correct and should be taken as is. I also dont understand why you use so many words and be all mysterious about it.

I understand why this is your favorite post. The pair was up quite a lot from the start of the day, also it was above the Daily Open, hot hand (or whatever) and everything, so this is a good trade, Peter Crowns wise. If you trade inside bars, assuming that the pair has moved a lot from the starting of the day and therefore is hot, you are making...
IB's are considered indecision bars.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #9,320
  • Feb 28, 2010 6:58pm Feb 28, 2010 6:58pm
Quoting LasVahGoose
IB's are considered indecision bars.
Mr. Las strikes.

@Alexone and hornet99,

IB (inside bars) are Indecision Bars. Period.

DIBS is a WAY to use Indecision Bars to get in on a potentially good trade with small risk. Period.

DIBS is a DISCRETIONARY method. So, backtesting a discretionary method is quite hard, especially that part that we need to use the DeLorean (see pic below). Do a forward test, demo it, and refine your DISCRETION, not the entry method (cause it just can't be more simple!), that's the catch.

http://image.guardian.co.uk/sys-imag.../future460.jpg

DIBS is not the holy grail, not even close. PLease, folks, it's just another great TOOL to a traders toolbox.

Nobody (Not even Peter Crowns) trades using only DIBS.

Cheers...
Many share my views with me. But I don't share them with them...
3 traders viewing now