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The DIBS Method... No Free Lunch continues

  • #10,001
  • Apr 19, 2011 12:09pm Apr 19, 2011 12:09pm
Going back to the Euro trade. Look how it broke out this morning. Drawing a box round the Asian session, this was a good move. The inside bar on the H1 was after a strong bullish bar, no strong resistance appearing on the charts. Perfect.
Gone to a better place
  • #10,002
  • Apr 19, 2011 12:10pm Apr 19, 2011 12:10pm
Quoting smikester
The EUR/USD is a great trade. This is an uptrend on the daily and looks as though it tested support before going on to test the recent highs.

Not sure why you would want to buy the dollar, though. Possibly USD/CHF might show some strength and maybe USD/JPY might turn soon. But if you look at the daily these are not strong trades yet.

I think they all fit the rules. Just not all good trades.
Thankyou sir for your comments. Can you please explain more. That would be great help for me.
  • #10,003
  • Apr 19, 2011 12:31pm Apr 19, 2011 12:31pm
My rules include trading with the daily trend. How this is defined varies from trader to trader. This filters out quite a lot of trades. GBP/USD is in a large range but the trend is still up, though not reliably. EUR/USD is in an uptrend but pulled back to retest the Novemeber highs. The hope here is the uptrend resumes and that H1 trade takes off. The other two are in strong down trends.
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  • #10,004
  • Apr 19, 2011 12:39pm Apr 19, 2011 12:39pm
Quoting smikester
My rules include trading with the daily trend. How this is defined varies from trader to trader. This filters out quite a lot of trades. GBP/USD is in a large range but the trend is still up, though not reliably. EUR/USD is in an uptrend but pulled back to retest the Novemeber highs. The hope here is the uptrend resumes and that H1 trade takes off. The other two are in strong down trends.
I appreciate your response. It means that we need to consider higher time frame trend and also s/r levels too. Am I correct.
Also would you suggest by your experiencing that 4 hour trend direction is better for 1 hour (as we are taking short term/intra day moves - as I am sticking for 1-1 for first half and 1-2 for second half to grip on method then later will see how to run longer) or you think that daily trend has more effective for this method?

Thanks for your kind help.
  • #10,005
  • Apr 19, 2011 12:51pm Apr 19, 2011 12:51pm
The H4 trend is not all that useful. We want the daily or even the weekly and monthly trend. The daily is the best for this strategy, though. Nice when it matches the weekly and monthly.
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  • #10,006
  • Apr 19, 2011 2:45pm Apr 19, 2011 2:45pm
Quoting smikester
The H4 trend is not all that useful. We want the daily or even the weekly and monthly trend. The daily is the best for this strategy, though. Nice when it matches the weekly and monthly.
Thankyou Sir, very informative. I will match that method with daily now.
One question: very basic question.

I place order at 1 pip above/below IB H/L + spread, it saves some fakeouts but also stoploass increases due to which first and second targets also increases and some time market does just come back 1 or 2 pip before tg1.
I was looking Mr. Jarroo's example (also very helpful and thanks for all help), he just took one pip above high of ib and exact price of low of inside bar to calculate the risk.
So I am little bit confused which mehtod produce more success results. For example in my GU trade if I put my order 1pip+spread then it did not hit first time where market gives false break a lit bit and then move to stop loss and then come back again in direction. As I was just one pip above so I had stopped out but if I added spread then It was at least first target hit and still in for second target.

As you are experienced guys so by your experiencing what you suggest?

Thanks again.
  • #10,007
  • Apr 19, 2011 3:10pm Apr 19, 2011 3:10pm
Ideally we would set a stop order at the high/low plus spread. In practise there is often a difficulty getting a fill at our price. My opinion is that it doesn't have to be that accurate. After all, it is the runners which make this strategy proftable. Much more important to manage those. Often, this strategy can be infuriating.

Jarroo is one of the good guys. Gives out loads of information and expertise.
Gone to a better place
  • #10,008
  • Apr 20, 2011 4:33am Apr 20, 2011 4:33am
see how it goes.
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  • #10,009
  • Apr 20, 2011 5:27am Apr 20, 2011 5:27am
PC:

"If you know what the opening price of the day (and the closing price of yesterday) is, you know at any moment if the price is "up" or "down" vs. yesterday's close ."

You're trading against the day's trend. Not recommended.
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  • #10,010
  • Apr 20, 2011 5:36am Apr 20, 2011 5:36am
Quoting 786 trading
see how it goes.
Personally I wouldn't have taken that one due to the traffic your trading into befor being able to get to b/e....

The ib of the high which hit res area would have been my play (if pressed on this pair).

just my imput hope you don't mind

regards

Nathan
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  • #10,011
  • Apr 20, 2011 5:39am Apr 20, 2011 5:39am
Quoting smikester
PC:


You're trading against the day's trend. Not recommended.
agreed but it is tradable.... just not quite how he/she traded it.
  • #10,012
  • Apr 21, 2011 12:49am Apr 21, 2011 12:49am
Both Targets hit on EU Long and UJ Short.
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  • #10,013
  • Edited 8:56am Apr 21, 2011 1:14am | Edited 8:56am
Possible sell setup ... waiting to close the bar.
Edit: Both targets hit.
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  • #10,014
  • Edited 8:59am Apr 21, 2011 2:19am | Edited 8:59am
Short order below IB on UJ...lets see how it goes
Edit: First Target hit. Move SL to breakeven (against the rule but I had to go out so dont want to leave my trade alone.. )
-- See you guys tomorrow --
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  • #10,015
  • Apr 21, 2011 9:00am Apr 21, 2011 9:00am
Quoting 786 trading
Both Targets hit on EU Long and UJ Short.

Hi 786, what targets are you setting? I don't trade dibs (or my version) much anymore as i found i like a smoother equity curve (who doesn't lol) i guess thats why your not holding & adding.

just curious

regards
  • #10,016
  • Apr 21, 2011 10:01am Apr 21, 2011 10:01am
Quoting icarusfx
Hi 786, what targets are you setting? I don't trade dibs (or my version) much anymore as i found i like a smoother equity curve (who doesn't lol) i guess thats why your not holding & adding.

just curious

regards
My half lots at 1-1 second half 2-1 RR. I am not adding or holding for now. May be later I will do that but first I want to grip on method. So far it is working for me, may be I will keep it as it is...
  • #10,017
  • Apr 21, 2011 12:12pm Apr 21, 2011 12:12pm
Hi All. Does anyone enjoy advisor DIBS_EA? I test it in tester. Its very nice.
http://www.forexfactory.com/showthread.php?p=2113137

I read the whole Thread.
He looks inside bars and open pending orders. Does anyone know what it means value "MoveToBE = False/True";

I love this strategy, but it is very difficult all the time be near the computer and wait for the inside bar.
  • #10,018
  • Apr 21, 2011 11:12pm Apr 21, 2011 11:12pm
Quoting Zvezdochot
Hi All. Does anyone enjoy advisor DIBS_EA? I test it in tester. Its very nice.
http://www.forexfactory.com/showthread.php?p=2113137

I read the whole Thread.
He looks inside bars and open pending orders. Does anyone know what it means value "MoveToBE = False/True";

I love this strategy, but it is very difficult all the time be near the computer and wait for the inside bar.
I did not test EA. Will give a try next week.
  • #10,019
  • Apr 30, 2011 7:48am Apr 30, 2011 7:48am
I am amazed how much discussion a simple trading technique can still garner after all these years
  • #10,020
  • Apr 30, 2011 7:49am Apr 30, 2011 7:49am
If you do not hold and add to your position, you will not have a winning system here

I can promise you that

But you are free to try for yourself


Quoting 786 trading
My half lots at 1-1 second half 2-1 RR. I am not adding or holding for now. May be later I will do that but first I want to grip on method. So far it is working for me, may be I will keep it as it is...
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