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The DIBS Method... No Free Lunch continues

  • #9,861
  • Nov 9, 2010 5:44am Nov 9, 2010 5:44am
Very very nice trade on the eur/usd congratulations.I missed that one.However i do have various open trades so still happy.All my stops on these trades have been moved to just under the 1.3700 would you mind giving me a clue as to what sort of trailing stop you are using please?

Thanks.
  • #9,862
  • Nov 9, 2010 6:49am Nov 9, 2010 6:49am
although the topic of trailing stop differs gr8tly from one trader to another
i am a Very long term Trend trader and i trail my stops under the last retracement on the WEEKLY CHARTS because once i have a tail i will try to push the profits to the MAX.

here is an example
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  • #9,863
  • Nov 9, 2010 7:11am Nov 9, 2010 7:11am
Thanks for your explanation of your trailing stop.So on that eur/usd trade you watched the price drop 750 pips before moving your stop.Well done i dont think i could have done that myself but its paid off big time for you.Nice one.
  • #9,864
  • Nov 16, 2010 8:27am Nov 16, 2010 8:27am
The battle of trailing stops (tighter or wider) is pretty much matter of trader choice. As a rule of thumb though, I ve found that wider trailing mechanism means more profitability but wilder equity swings, and tighter the trailing stops - reduces profitability but smoothers the equity. The same goes for scaling out or holding the whole size of the position till the end of the trade. Scaling out = smoother equity, Whole position=more profitability. Of course all this matter only if you already have profitable method in hand.

So if you are happy with the profitability of your method but you cant "eat" the drawdowns, tighten your trailing stops. On the other hand if you have method that produces nice smooth equity curve, but its not as profitable as you would like, then hold your trades a bit longer through using wider trailing stop.
You wont survive without preserving!!!
  • #9,865
  • Nov 16, 2010 5:53pm Nov 16, 2010 5:53pm
Quoting DemoForever
Thanks for your explanation of your trailing stop.So on that eur/usd trade you watched the price drop 750 pips before moving your stop.Well done i dont think i could have done that myself but its paid off big time for you.Nice one.
It is very difficult to do however if you think about where a potential trade run starts it can make the thought process clearer. While 750 pips is a lot to give back the fact may be that the trade run started 2000 pips back. By conventional TP rational most trades would have been exitted a long time back and therefore the equity build would have been alot less. Also trading DIBs requires the ability to take some losses while having some long term runners build and absorb some of the blows along the way. The tighter the stop (trailing or mechanical) the more likely it is that small corrections take you out, the larger means stomaching giving back potentially huge returns or withstanding larger pullbacks with the uncertainty that the market will continue in your favour.

In any case the emotional factors are different for everyone and this is always apparent when you read through posts in these forums.

Take care

RT
  • #9,866
  • Nov 20, 2010 2:40pm Nov 20, 2010 2:40pm
Quoting Razor_trader
It is very difficult to do however if you think about where a potential trade run starts it can make the thought process clearer. While 750 pips is a lot to give back the fact may be that the trade run started 2000 pips back. By conventional TP rational most trades would have been exitted a long time back and therefore the equity build would have been alot less. Also trading DIBs requires the ability to take some losses while having some long term runners build and absorb some of the blows along the way. The tighter the stop (trailing or mechanical)...


very correct

thats why i always say that trading is very personal and differs from one individual to the 0ther gr8tly because each of us have a UNIQUE tolerance degree

BUT

here is what u should think think about if u want to trade something like this so lets assume that the a runner trade reversed SO what!!!!
u will be Break-Even

But heres what u should be always looking for and thinking of when u trade something like this what if it doesnt reverse



the forex market is an extremely trendy market
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  • #9,867
  • Nov 26, 2010 12:27am Nov 26, 2010 12:27am
I want an email once a day at 12:01am if yesterday's bar was inside or outside bar.... if doing this at 4 hour graph, i want one email every 4 hours.... thats it... can someone code that?

can someone help me please. I found an indicator called in&out indicator that works fine but it has a problem. It does not send email out when there is an outside/inside bar. I tried to put in the sendmail function in there but i got like 1000 emails. It sent me an email at every tick, and I dont want that.

please help
  • #9,868
  • Nov 27, 2010 7:36am Nov 27, 2010 7:36am
Quoting torontobboy2
I want an email once a day at 12:01am if yesterday's bar was inside or outside bar.... if doing this at 4 hour graph, i want one email every 4 hours.... thats it... can someone code that?

can someone help me please. I found an indicator called in&out indicator that works fine but it has a problem. It does not send email out when there is an outside/inside bar. I tried to put in the sendmail function in there but i got like 1000 emails. It sent me an email at every tick, and I dont want that.

please help
.

Not sure what you are asking?You want an email sent to yourself every time there is an inside bar?Then you will open your trading platform and place a trade .From my own point of view you would be better allowing yourself time to look at your charts before the various bars have completed.That would take you say 15 minutes per bar.
  • #9,869
  • Nov 27, 2010 12:50pm Nov 27, 2010 12:50pm
Forex can be quite simple adapting to the market rule.
My life as a forex trader have been boring trying to read my chart/indicators to determine the market movement, which eventually end up sucking most times. Till I came across a strategy called. ''TAKE A COFFEE'' and the market will drop right in your cup of sugar.

CHECK THIS CHART BELOW.
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Trade the odds, But don't get caught.
  • #9,870
  • Nov 30, 2010 10:57am Nov 30, 2010 10:57am
Have not posted for a while, here is a long from an IB on gold, took the entry from the high of the mother bar, in profit ..but for how long?
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Seek not to change the world; seek only to change your mind about the world
  • #9,871
  • Nov 30, 2010 3:17pm Nov 30, 2010 3:17pm
Quoting gez40
Have not posted for a while, here is a long from an IB on gold, took the entry from the high of the mother bar, in profit ..but for how long?



How long is not up 2 u it's actually up t0 the market , whats up 2 you is to Break even at 1:1 and trail it TO THE MOON IF IT WENT TherE
  • #9,872
  • Dec 2, 2010 10:43am Dec 2, 2010 10:43am
Quoting gez40
Have not posted for a while, here is a long from an IB on gold, took the entry from the high of the mother bar, in profit ..but for how long?
Update, still going nicely.
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Seek not to change the world; seek only to change your mind about the world
  • #9,873
  • Dec 3, 2010 3:10am Dec 3, 2010 3:10am
Quoting gez40
Update, still going nicely.
Good job! and it looks like willing to go even higher
Patience is magic
  • #9,874
  • Dec 3, 2010 6:20am Dec 3, 2010 6:20am
Quoting muntu ntu
Good job! and it looks like willing to go even higher
Been working on exits, not gonna touch this now until a close below the 8ema(red), fed up with getting out to early and leaving pips on the table.
Seek not to change the world; seek only to change your mind about the world
  • #9,875
  • Dec 3, 2010 7:13am Dec 3, 2010 7:13am
Hello Traders, this thread is more than 2 years old. May I kindly ask if anyone was able to make some kind of profit with this method?
  • #9,876
  • Dec 3, 2010 10:39am Dec 3, 2010 10:39am
Quoting Adilius07
Hello Traders, this thread is more than 2 years old. May I kindly ask if anyone was able to make some kind of profit with this method?
Still on demo and going well, switched to daily charts though.
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Seek not to change the world; seek only to change your mind about the world
  • #9,877
  • Dec 3, 2010 12:17pm Dec 3, 2010 12:17pm
Quoting gez40
Still on demo and going well, switched to daily charts though.
Hello Gez, I see you do something very different though. You don't use SL and take a trade on the break of a "mother" bar.
  • #9,878
  • Dec 4, 2010 7:42am Dec 4, 2010 7:42am
where is the original DIBS method discussed by peter ? which thread ?
  • #9,879
  • Dec 4, 2010 7:58am Dec 4, 2010 7:58am
Quoting whatfx
where is the original DIBS method discussed by peter ? which thread ?

http://www.forexfactory.com/showthread.php?t=56907
  • #9,880
  • Dec 4, 2010 10:19am Dec 4, 2010 10:19am
Quoting Adilius07
Hello Gez, I see you do something very different though. You don't use SL and take a trade on the break of a "mother" bar.
I use a SL in live trading but on demo i just make a note of it..it`s only a demo account, break of the mother bar always for me, i prefer it.
Seek not to change the world; seek only to change your mind about the world
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