If you don't risk, you don't ever have to lose.
- #18,185
- Sep 1, 2010 3:31pm Sep 1, 2010 3:31pm
I reply with a quote from the original DIBS thread:
I'm not going to go into why the first 9-10 hours are most important. It should be obvious to everyone (if not, please contact me via PM and I will provide you a list of materials and links to go through, no need to spam this thread). In case you can't read between the lines, that means this is a wrong time to be looking for a trade setup (R:R wise, anyway). :nerd:
I see that you are eager to take a trade without knowing how, where, when and what. I've been there myself and it's a tough place to be in. But since you've already taken an interest in the inside bar method, why don't you carefully read through the first 14 pages of the thread to at least get some of the basics of when, how, where and what not? http://www.forexfactory.com/showthread.php?t=56907
Make sure to write down notes on the way. You might also want to consider printing out some of the stuff (I sure did). You have to know what you're dealing with. If you want to trade the DIBS method, you gotta know the DIBS rules. You can develop new rules along the way as you advance, but right now you would really want to go over the original thread.
I'm logging off now, gotta get some sleep. Make sure you read the thread.
One last tip: You want to be particularly interested in the inside bar breakouts which meet the conditions early in the session, namely the first 9 - 10 hours.
I see that you are eager to take a trade without knowing how, where, when and what. I've been there myself and it's a tough place to be in. But since you've already taken an interest in the inside bar method, why don't you carefully read through the first 14 pages of the thread to at least get some of the basics of when, how, where and what not? http://www.forexfactory.com/showthread.php?t=56907
Make sure to write down notes on the way. You might also want to consider printing out some of the stuff (I sure did). You have to know what you're dealing with. If you want to trade the DIBS method, you gotta know the DIBS rules. You can develop new rules along the way as you advance, but right now you would really want to go over the original thread.
I'm logging off now, gotta get some sleep. Make sure you read the thread.
If you don't risk, you don't ever have to lose.
- #18,186
- Sep 2, 2010 3:52am Sep 2, 2010 3:52am
- | Membership Revoked | Joined Aug 2010 | 1,300 Posts
Thank you
How's your day going?
Any UJ plans? I am looking to add a short at 84.62 and another at 84. 89.
Tiny lots ofcourse
Yesterday I just was not into it, just didn't feel right so I didn't force anything and turned off the computer. Had a Short on the USD/CAD which I made a few Pips with only to find out later it dropped another 100 Pips.
I hate when that happens.
In this Pair I am still only thinking Long but I am being careful until the employment numbers come out tomorrow. I think a worse than expected release is already factored in...but how much worse. I am a little worried about jumping in with more Longs because I feel it will be horrendous but I am still only thinking Longs.
If I do go Long today my entry price will between 83.75--84.00.
Hope you finish out the week well!
- #18,187
- Edited 4:58am Sep 2, 2010 4:36am | Edited 4:58am
- | Joined Jun 2008 | Status: Trader | 2,013 Posts
I reply with a quote from the original DIBS thread:
I'm not going to go into why the first 9-10 hours are most important. please contact me via PM and I will provide you a list of materials and links to go through
carefully read through the first 14 pages of the thread to at least get some of the basics of when, how, where and what not? http://www.forexfactory.com/showthread.php?t=56907
i was looking for the IB after the beginning of a new day , after midnight NY ... hence was not prepared for that IB u have highlighted .
ps check ur PM.
ok, will re-read the peter crowns thread, " No free lunch ... " ...
- #18,188
- Sep 2, 2010 6:10am Sep 2, 2010 6:10am
Hi
I am doing great after another 50 pips from my short yesterday at 84.62
why not divide your lot into two? Take a half at your first TP and leave the rest to run?
As far as UJ is concerned, I will be looking at buy at 83.5 area and more at 83.00. I strongly feel that this pair has got to make a new low before heading back up. but again I could be wrong.
have a great day
I am doing great after another 50 pips from my short yesterday at 84.62
why not divide your lot into two? Take a half at your first TP and leave the rest to run?
As far as UJ is concerned, I will be looking at buy at 83.5 area and more at 83.00. I strongly feel that this pair has got to make a new low before heading back up. but again I could be wrong.
have a great day
How you doing?
Yesterday I just was not into it, just didn't feel right so I didn't force anything and turned off the computer. Had a Short on the USD/CAD which I made a few Pips with only to find out later it dropped another 100 Pips....
- #18,189
- Sep 2, 2010 6:55am Sep 2, 2010 6:55am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Hi
I am doing great after another 50 pips from my short yesterday at 84.62
why not divide your lot into two? Take a half at your first TP and leave the rest to run?
As far as UJ is concerned, I will be looking at buy at 83.5 area and more at 83.00. I strongly feel that this pair has got to make a new low before heading back up. but again I could be wrong.
have a great day
There are plenty of 'professional' analyists saying that at test of the all time low in the 79 region is likey, but personally I think that's extremely unlikey.
So if we get to re-test the 83.60 area, I'll start building longs from there...
Doing what you like is Freedom. Liking what you do is Happiness.
- #18,190
- Sep 2, 2010 7:14am Sep 2, 2010 7:14am
- | Membership Revoked | Joined Aug 2010 | 1,300 Posts
why not divide your lot into two? Take a half at your first TP and leave the rest to run?
In the meantime I am scalping the Hell out of it whenever it breaks below 84, I am just locking that one Long position away in a vault for a very long time.
I made one L trade already this morning for 20+ Pips.
Hopefully I can do the same a couple more times today.
83.80--83.90 is my support level which has held up very nicely. I have a Weekly Pivot @ 84.01 and a Daily Support 1 @ 83.84. Whith these 3 all in the same general area I will continue to scalp with Longs when it gets to these levels while all the while leaving that 1 Long position alone for the long term.
- #18,191
- Sep 2, 2010 8:30am Sep 2, 2010 8:30am
Good luck to you mate 
I hear what your saying but I have just one Long position that I plan on holding for Long term.
In the meantime I am scalping the Hell out of it whenever it breaks below 84, I am just locking that one Long position away in a vault for a very long time.
I made one L trade already this morning for 20+ Pips.
Hopefully I can do the same a couple more times today.
83.80--83.90 is my support level which has held up very nicely. I have a Weekly Pivot @ 84.01 and a Daily Support 1 @ 83.84. Whith these 3 all in the same general area I will continue...
- #18,192
- Sep 2, 2010 9:11am Sep 2, 2010 9:11am
- | Membership Revoked | Joined Aug 2010 | 1,300 Posts
Good luck to you mate
Took another L @84.10 (admittedly above the price I said I would enter at) but the 8:30 EDR while not great held there own so I went Long again and currently have my SL @ 84.31.
Still waiting for tomorrows numbers then I will reevaluate everything over the weekend.
Again, thanks for the kind words , I wish you the best.
- #18,194
- Sep 2, 2010 10:18am Sep 2, 2010 10:18am
- Joined Jun 2009 | Status: A slave to the tape | 4,390 Posts
- #18,196
- Sep 2, 2010 10:24am Sep 2, 2010 10:24am
- Joined Jun 2009 | Status: A slave to the tape | 4,390 Posts
- #18,197
- Sep 2, 2010 10:26am Sep 2, 2010 10:26am
Hi,
After spending sometime working with the UJ chart today, I believe, we could hit as low as 82.82. Again, I am no professional so this could be BS
the 83.6X area has already been tested twice (please correct me if I am wrong) and the third time we could actually have a break. I am sure many of those who have bought right now may have their stops below this area, and once the stops go, this thing could move pretty quick. Some how I feel this area (83-84) is being 'artificially held'. The upmoves in my opinion seem very nervous; people (including myself) want to jump off as quickly as possible once they have collected some profit. on the other side, down-moves move with a lot more weight.
I am sure many retail traders have already bought a lot at this level and in forex, I believe the majority is wrong
Again, this is just my take. I could be wrong as always.
Thanks
After spending sometime working with the UJ chart today, I believe, we could hit as low as 82.82. Again, I am no professional so this could be BS
the 83.6X area has already been tested twice (please correct me if I am wrong) and the third time we could actually have a break. I am sure many of those who have bought right now may have their stops below this area, and once the stops go, this thing could move pretty quick. Some how I feel this area (83-84) is being 'artificially held'. The upmoves in my opinion seem very nervous; people (including myself) want to jump off as quickly as possible once they have collected some profit. on the other side, down-moves move with a lot more weight.
I am sure many retail traders have already bought a lot at this level and in forex, I believe the majority is wrong
Again, this is just my take. I could be wrong as always.
Thanks
I'm inclined to agree. I've stayed away from this pair for the past 10 days or so, but I imagine that another test of the 83.60-ish level is possible.....perhaps even 83 flat.....and it may be that NFP provides that.
There are plenty of 'professional' analyists saying that at test of the all time low in the 79 region is likey, but personally I think that's extremely unlikey.
So if we get to re-test the 83.60 area, I'll start building longs from there...
- #18,198
- Sep 2, 2010 10:34am Sep 2, 2010 10:34am
- Joined Jun 2009 | Status: A slave to the tape | 4,390 Posts
Hi,
After spending sometime working with the UJ chart today, I believe, we could hit as low as 82.82. Again, I am no professional so this could be BS
the 83.6X area has already been tested twice (please correct me if I am wrong) and the third time we could actually have a break. I am sure many of those who have bought right now may have their stops below this area, and once the stops go, this thing could move pretty quick. Some how I feel this area (83-84) is being 'artificially held'. The upmoves in my opinion seem very nervous; people (including...
- #18,200
- Sep 2, 2010 11:10pm Sep 2, 2010 11:10pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Hi,
After spending sometime working with the UJ chart today, I believe, we could hit as low as 82.82. Again, I am no professional so this could be BS
the 83.6X area has already been tested twice (please correct me if I am wrong) and the third time we could actually have a break. I am sure many of those who have bought right now may have their stops below this area, and once the stops go, this thing could move pretty quick. Some how I feel this area (83-84) is being 'artificially held'. The upmoves in my opinion seem very nervous; people (including...
I agree that some retail traders trying to long this might get burnt but that's because they don't have a strategy.
For me, I will watch with interest at NFP time to see what happens....assuming we do down, once the dust settles I will start thinking about building longs because Japan, although intervention directly is almost certainly not going to happen, will probably take some kind of action.....maybe to buy a shit load of dollars or something. Several EU banks are reported to be buying at 84.00-ish which is stopping it going down further. We don't know what strings Japan can pull with EU banks and other trading partners it has.
Doing what you like is Freedom. Liking what you do is Happiness.