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  • #621
  • Dec 9, 2009 10:21am Dec 9, 2009 10:21am
Quoting cc1
I am implimenting the DIBS strategy into my forex trading plan. Can someone please advise me as to which moving averages are incorporated into this method? I am not concerned with moving averages used for trailing but for support and resistance. I am trading the DIBS technique on the hourly set ups.
Thanks
CC!
You'd do well to read the thread from the beginning. The DIBS method, in it's original form, doesn't rely on MAs.

A continuation of this thread with a good summary of the rules on the opening post can be found here: http://www.forexfactory.com/showthread.php?t=86766

There's a thread in the commercial forum: http://www.forexfactory.com/showthread.php?t=133929 that utilizes indicators along with inside bars, but it's not the original DIBS method discussed here.
  • #622
  • Dec 10, 2009 5:37am Dec 10, 2009 5:37am
Thank you very much for your post.... NO moving averages for me...
  • #623
  • Dec 15, 2009 8:03pm Dec 15, 2009 8:03pm
Quoting PeterCrowns
Multi-part rant-

-outapips-

I genuinely thank you for being brave enough to ask this question the way you did, and taking the trades you did. If anyone has asked this question before in the FF forum, I didn't see it -- (much like the sound I hear when a tree falls in the woods when I am not there).

In answer to your question, I didn't take the offending trades, but easily could have. You'll figure out the rest of my answer from the dialogue below.

-outapips-
Any negativity expressed...
I'd like everyone to go back to post #438 again and read it thoroughly. Damnit, you're made of gold. Thanks again Peter.

Look past the "rant" and you'll find a few pots in there that will bring you success folks. Have a good night. I just can't even express what I feel right now and still sound sane. lol
I dream, therefore I become.
  • #624
  • Dec 17, 2009 4:11am Dec 17, 2009 4:11am
Dear Dibs traders,

i trade with oanda, spread is great, but when it's widening I HATE IT! crap. how YOU deal with it?
  • #625
  • Dec 17, 2009 6:47am Dec 17, 2009 6:47am
Quoting sphinx
Dear Dibs traders,

i trade with oanda, spread is great, but when it's widening I HATE IT! crap. how YOU deal with it?
I see Oanda widening the spreads in 2 situations: Early Asian session (before Tokyo open, but it's a small increase) and at a few minutes before till few minutes after major news... they all go at least to 10. BUT as I don't trade news, it's not a headache to me.
Many share my views with me. But I don't share them with them...
  • #626
  • Jan 8, 2010 10:35am Jan 8, 2010 10:35am
I am trading the DIB. I wonder if the set up does not trigger on the third bar is it appropriate to wait intill it does , even several hours later? Or is it necessary to wait for another pattern to set up ?
  • #627
  • Jan 9, 2010 6:24pm Jan 9, 2010 6:24pm
Quote
I am trading the DIB. I wonder if the set up does not trigger on the third bar is it appropriate to wait intill it does , even several hours later? Or is it necessary to wait for another pattern to set up ?

In all due respect CC1 how is it that your trading this method and you don't have an answer to your own question. What does Your trading plan tell you to do. You do have a plan based on your own back testing research right? Your research would have told You how long a Ib can remain active and still offer up an edge over a reasonable sample size, right?
  • #628
  • Jan 16, 2010 2:54am Jan 16, 2010 2:54am
I've had some time to pilfer through FF this evening and am quite glad I found this thread..Old Scotty has been operating quite differantly lately and this thread resonates in part with what I've been up to.

I notice that Peter Crowns has only posted 41 times..To bad..I can tell he knows his stuff.

I'm away from home at the moment but I am going to make reading through this thread my #1 priority while I have some freetime this weekend.

I think Peter makes a great point when he says not all breakouts are alike. Some are really of no consequence. The best trade filter for taking breakout trades is only trading when you know there is enough umph in the market to consume a lot of liquidity at once. Sometimes a great looking setup only has a small potential because theres just not enough people that will be pushed into fight or flight mode. If all you are looking at is price alone, you wouldn't even be aware of this and would get 'faked out' quite often.

Also, when you have a confirmed breakout, all that happens is lots of other traders are put in a tough place. In the marketplace, it is the losers job to replace the old batch of losers. You just need to know where the new batch of losers are positioned and wait for the stampede to begin while hiding behind a bush with your rifle.

Winners don't move the market like the losers do. Winners gently push the losers over the cliff.

So anyways..Thanks to Peter Crowns for posting here.

Scotty B
  • #629
  • Jan 19, 2010 7:37am Jan 19, 2010 7:37am
Quoting mike w
I'd like everyone to go back to post #438 again and read it thoroughly. Damnit, you're made of gold. Thanks again Peter.

Look past the "rant" and you'll find a few pots in there that will bring you success folks. Have a good night. I just can't even express what I feel right now and still sound sane. lol

Couldn't agree with you more. Post 438 is excellent. Got to be able to handle losses..........which means you need good money management...........which means you stick to the rules, as shared by Peter. OK?
  • #630
  • Mar 23, 2010 1:21am Mar 23, 2010 1:21am
Man I'm so late to this party.
This thread is gold. Thank you for sharing Peter, please continue to do so, this is great stuff.
One Mind, Any Market
  • #631
  • Mar 29, 2010 9:10pm Mar 29, 2010 9:10pm
Cyrus,
hey bro, he's been out for a long time now. (hopefully he's lurking )
lots of whiners/parasities turn several great traders off
at least Sir Peter left us with 'something to chew on'
  • #632
  • Apr 5, 2010 10:18pm Apr 5, 2010 10:18pm
Quoting supremeChaos
Cyrus,
hey bro, he's been out for a long time now. (hopefully he's lurking )
lots of whiners/parasities turn several great traders off
at least Sir Peter left us with 'something to chew on'
yeah. realised Peter left ages ago. but he left us with plenty of good material to think on. read it again and again and again...

whiners/parasites turn most pple off. LOL.
I'm fine with harsh. This isn't residential care, it's speculation. =P
One Mind, Any Market
  • #633
  • Apr 7, 2010 7:36pm Apr 7, 2010 7:36pm
Quoting supremeChaos
Cyrus,
hey bro, he's been out for a long time now. (hopefully he's lurking )
lots of whiners/parasities turn several great traders off
at least Sir Peter left us with 'something to chew on'
Something to chew on ?????? you're not serious are you
the IB break out does not give any statistical hedge
I read idiotic posts in this thread that not all break outs are the same another words some discretion is needed to trade this setup and be profitable
if the setup on it's own has no hedge then what difference does it make to trade the set up or an oscillator turn in a overbought zone or just a moving average crossover
all the these including the IB crap are equally worthless

It amazes me how many idiots get attracted to this kind of crap
  • #634
  • Apr 7, 2010 8:01pm Apr 7, 2010 8:01pm
Quoting eurolinux
the IB break out does not give any statistical hedge
There are some posts in this, and the associated thread, which say IB breaks do give a statistical edge.

edit: eurolinux. Are you Peter Crowns gimmick account?
Many of your 17 posts, since 2008 are disparaging this method. Yet Peter Crowns is one of your 2 buddies.

Suspicious, no?
  • #635
  • Apr 8, 2010 11:44am Apr 8, 2010 11:44am
Quoting Ted1983
There are some posts in this, and the associated thread, which say IB breaks do give a statistical edge.

edit: eurolinux. Are you Peter Crowns gimmick account?
Many of your 17 posts, since 2008 are disparaging this method. Yet Peter Crowns is one of your 2 buddies.

Suspicious, no?
Not suspicious
I was testing this method extensively and I bookmarked Peter so I don't miss anything
I was a waste of time, so I'm doing you all a favor learn from my research
that's all
  • #636
  • Apr 8, 2010 11:47am Apr 8, 2010 11:47am
Quoting eurolinux
Not suspicious
I was testing this method extensively and I bookmarked Peter so I don't miss anything
I was a waste of time, so I'm doing you all a favor learn from my research
that's all

OK I see. Would you mind sharing your research please, the criteria you used for testing and so?
  • #637
  • Apr 8, 2010 12:03pm Apr 8, 2010 12:03pm
Quoting Ted1983
OK I see. Would you mind sharing your research please, the criteria you used for testing and so?
there is no need for that
read my previous post the IB break on it's own does not give you any hedge
If you take all the signals and do it for a long time you will end up with 0 less slippage and commissions

if you apply any type of discretion it's not good either becuase you missing signals, you much better of taking signals from an adaptive oscillator like ValueCharts or HMA turn ...but again indicators have limitations ... the problem with any indicator is that it's is based on a fixed number of bars even if it's an adaptive one the adaptiveness is based on a fixed callculation
You just can't beat god like this he will always find a way for you to go back to work

if you're looking for robustness Larry Williamses work if worth to look at
also tick volume makes a big difference

I haven't seen an indicator based system to work well out of sample
and I forward tested many trust me
  • #638
  • Apr 8, 2010 12:43pm Apr 8, 2010 12:43pm
Quoting eurolinux
there is no need for that
read my previous post the IB break on it's own does not give you any hedge
I see what you are saying. But I am still curious what your testing criteria were. Were you using the daily open line as per the system rules. Or just testing inside bars with no directional bias, on there own merit. Did you try using a moving average as trailing stop for example.
  • #639
  • Apr 14, 2010 7:40pm Apr 14, 2010 7:40pm
I love when people come in here and either pump/discredit a method without actually stating their testing parameters. Given all the permuations that I have seen of this very simple trend following system, how in the world could anyone assume that you are testing the same assumptions PC has outlined if most people don't even understand the basic approach to being with.

I have no clue about your position sizing, your trading times, building positions and your take profit method, etc, etc, etc. So forget about telling us about your terrible result, why dont you tell us what exactly you tested in the first place.

Or you could do us a favor and keep your opinions to yourself.........your call


Quoting eurolinux
there is no need for that
read my previous post the IB break on it's own does not give you any hedge
If you take all the signals and do it for a long time you will end up with...
  • #640
  • Apr 26, 2010 12:51pm Apr 26, 2010 12:51pm
First of all if Peter is still around thank you very much for sharing your system, I'm about to give it try.

Just a couple of questions I have before diving in:

1) Once an inside bar has been identified what is the optimal distance to place the trigger and stop loss order at each end of the IB i.e 2, 4, 6, 7, pips etc + the spread?

2) Suppose the next hourly bar after the IB does not trigger the trade i.e break out above/below the IB and the price action does n't reverse enough to make it obvious that the trade is n't going to work. I'm thinking of some sort of consolidation taking place. How does one determine when to cancel the trade.

If anyone could answer, it would be much appreciated.
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