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The DIBS Method... No Free Lunch continues

  • #10,021
  • May 2, 2011 9:45am May 2, 2011 9:45am
Quoting razorboy
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
Simple thing works but hard to believe.
  • #10,022
  • May 3, 2011 10:56am May 3, 2011 10:56am
I can vouch for that, it took me 2 years before i finally realized that simple fact. You gotta ride those trends otherwise you go nowhere or stay at break even at best.
  • #10,023
  • May 6, 2011 11:30am May 6, 2011 11:30am
Hi guys,

I'm demoing this method.Looks good so far.But I'd like to raise a question re profit taking.Let's say I'm in a long trade and my trailing stop is daily 20 SMA or 2xDaily Volatility or something similar.So I have been in a trade for several days and "surprisingly" faced the opposite signal i.e IB which formed below 6AM GMT.Do I take the trade?
  • #10,024
  • May 6, 2011 5:25pm May 6, 2011 5:25pm
Quoting liopro
Hi guys,

I'm demoing this method.Looks good so far.But I'd like to raise a question re profit taking.Let's say I'm in a long trade and my trailing stop is daily 20 SMA or 2xDaily Volatility or something similar.So I have been in a trade for several days and "surprisingly" faced the opposite signal i.e IB which formed below 6AM GMT.Do I take the trade?
By the original rules yes but it personally up to you in the end. Current market conditions will be your guidance and the recent to long behaviour (ranging, new trend or strong trend) plus a fundamental outlook will help make decisions on what is the better trades to make.

At the end of the day if it becomes a break even trade then it is for the most just an opportunity. Some iwll see it this way and others will see it as a waste of profit.

RT
  • #10,025
  • May 31, 2011 5:32am May 31, 2011 5:32am
i am italian newbie of this thread
i have same questions

1) i use Dibs triggerlines V1.2a(AAD Mods) indicator, but i don't undestand if i read it good.

in the H1 chart same time the indicator to draw no double line (orange/blu line at the same candle) but blu line alone or orange line alone.

I see this point like IB point but i dont Know why the indicator don't draw the double line (orange/Blu). Is there samthing i don't know?

the point 2-3-6-8 to have only one line (blu line alone/ orange line alone)
WHY?

1) my broker is fxcm (london) GMT0 but now GMT+1
i must chang set up ( +1 ) at the Dibs trigger indicator?
2) the same at the open daily candle indicator (+1)?

thank..grazie
Attached Image (click to enlarge)
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  • #10,026
  • May 31, 2011 8:20am May 31, 2011 8:20am
[quote=L,,Olonese;4655506]i am italian newbie of this thread
i have same questions

In the H1 chart same time the indicator to draw no double line (orange/blu line at the same candle) but blu line alone or orange line alone.

I see this point like IB point but i dont Know why the indicator don't draw the double line (orange/Blu). Is there samthing i don't know?

The indicator calculates the direction of the potential trade based on the dibs rules. If the proper trade is a short the indicator only draws an orange line. If the trade should be long a blue line will appear. If according to the Dibs rules you can go either way with the trade you will see both lines.
Hope this helps.
  • #10,027
  • Jun 7, 2011 2:46am Jun 7, 2011 2:46am
Why would you want to use an indicator to trade this strategy? There are lots of hourly inside bars which should be left alone. Only take the smaller ones and only in the direction of the trend, preferably during a high momentum move. Look back at what happened 1 month ago, 1 year ago. Learn about how it works. Read Peter's posts. Then read them again.

I am policing this thread to make sure it doesn't degenerate into an indicator and ea feeding frenzy. I will arrest those who think they will achieve it.
Gone to a better place
  • #10,028
  • Jun 7, 2011 3:14am Jun 7, 2011 3:14am
Quoting L,,Olonese
i am italian newbie of this thread
i have same questions

1) i use Dibs triggerlines V1.2a(AAD Mods) indicator, but i don't undestand if i read it good.

in the H1 chart same time the indicator to draw no double line (orange/blu line at the same candle) but blu line alone or orange line alone.

I see this point like IB point but i dont Know why the indicator don't draw the double line (orange/Blu). Is there samthing i don't know?

the point 2-3-6-8 to have only one line (blu line alone/ orange line alone)
WHY?

1) my broker is fxcm (london)...
Check again, plenty of IB`s in there.
Seek not to change the world; seek only to change your mind about the world
  • #10,029
  • Jun 7, 2011 7:03am Jun 7, 2011 7:03am
Quoting smikester
Why would you want to use an indicator to trade this strategy? There are lots of hourly inside bars which should be left alone. Only take the smaller ones and only in the direction of the trend, preferably during a high momentum move. Look back at what happened 1 month ago, 1 year ago. Learn about how it works. Read Peter's posts. Then read them again.

I am policing this thread to make sure it doesn't degenerate into an indicator and ea feeding frenzy. I will arrest those who think they will achieve it.
Let's keep it simple. Inside bars are all over the place. We dont need an EA for that

Olu
If you think you can or cannot do it you are correct
  • #10,030
  • Jun 9, 2011 11:30am Jun 9, 2011 11:30am
Don't know if you guys will find this interesting or not, but it took me a while to get my head around why PC would take trades where the low/high of the IB was only broken a few bars later, the attached is strategy actually based on this phenomena
Attached File(s)
File Type: pdf Hikkake Set up.pdf   167 KB | 1,728 downloads
  • #10,031
  • Jun 10, 2011 6:06am Jun 10, 2011 6:06am
Quoting Chinadiapers
Don't know if you guys will find this interesting or not, but it took me a while to get my head around why PC would take trades where the low/high of the IB was only broken a few bars later, the attached is strategy actually based on this phenomena

I have read this with great interest! Thank you!
  • #10,032
  • Jun 10, 2011 8:46am Jun 10, 2011 8:46am
Quoting Chinadiapers
Don't know if you guys will find this interesting or not, but it took me a while to get my head around why PC would take trades where the low/high of the IB was only broken a few bars later, the attached is strategy actually based on this phenomena
Very interesting! Thanks for the info.
  • #10,033
  • Jun 12, 2011 2:32pm Jun 12, 2011 2:32pm
Quoting liopro
Hi guys,

I'm demoing this method.Looks good so far.But I'd like to raise a question re profit taking.Let's say I'm in a long trade and my trailing stop is daily 20 SMA or 2xDaily Volatility or something similar.So I have been in a trade for several days and "surprisingly" faced the opposite signal i.e IB which formed below 6AM GMT.Do I take the trade?
If you really want to enjoy Inside Bar trading, trade it only along the major trend or when a 123 reversal forms. If you follow IB up and down, you'll not so much like your result in the end. IB for the most part is trend continuation.

My little suggestion for an IB pal
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #10,034
  • Jun 12, 2011 2:47pm Jun 12, 2011 2:47pm
Quoting Chinadiapers
Don't know if you guys will find this interesting or not, but it took me a while to get my head around why PC would take trades where the low/high of the IB was only broken a few bars later, the attached is strategy actually based on this phenomena
Got some nice information about fake out from your book. Nice upload. Thanks
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #10,035
  • Jun 12, 2011 2:49pm Jun 12, 2011 2:49pm
Quoting Precap2
Got some nice information about fake out from your book. Nice upload. Thanks
Same here, thanks for the upload!
  • #10,036
  • Jun 16, 2011 8:36am Jun 16, 2011 8:36am
Quoting smikester
Why would you want to use an indicator to trade this strategy? There are lots of hourly inside bars which should be left alone. Only take the smaller ones and only in the direction of the trend, preferably during a high momentum move. Look back at what happened 1 month ago, 1 year ago. Learn about how it works. Read Peter's posts. Then read them again.

I am policing this thread to make sure it doesn't degenerate into an indicator and ea feeding frenzy. I will arrest those who think they will achieve it.
I would suggest there are some wise words in the post above for all you dibs followers. By the way there is no "Holy Grail" to trading. The "Holy Grail" exists inside each and everyone of you.

I would only consider trading these dibs with the "hot hand". I wonder how many people on this forum have actually only traded the "hot hand"? Has anyone bothered to try to define what a "hot hand" actually means?
(I would be interested to hear some comments on this please and on what type of dibs trade they think is the best one to take)

If so, I apologise for not reading the whole of this very long thread. I would suggest that:

1. Only trade the hot hand. No exception - especially with hourly.
2. A good Donchian method works well with this concept also and on different timeframes.
3. You might wish to consider which time of year is best too - especially with longer timeframe dibs trades. I suspect January (and possibly June) are good places to start.
4. The single most important aspect of this "system" is RISK. I will say this again: the single most important aspect of this method is the amount of RISK you take on each dib trade. I now refer you to Smikester's post above for the smarter ones amongst you who GET this. Now look at which dib trade you take and how much loss you are prepared to take on retracements. Are these type of retracement trades the best ones to take?Putting one's head into the jaws of a lion should strike home to some of you wanting or wishing to "become" traders. I would suggest one reads the bit about limited risk on each trade for "unlimited" reward. Anybody who gets stressed in a trade because of the amount of RISK they have put on should NOT be trading.
5. I would only ever trade a particular dibs trade if it was above or below the opening AND close of the day, week, month etc.

Happy dibs hunting and good luck!

KR
(giving something back to the forex forum)
  • #10,037
  • Jun 16, 2011 11:46am Jun 16, 2011 11:46am
HAHAHAHA

Quoting Knight Rider
The "Holy Grail" exists inside each and everyone of you.
Hey Knight Rider, by your reasoning, anyone can play center in the NBA with the right attitude. WRONG!
  • #10,038
  • Jun 16, 2011 12:53pm Jun 16, 2011 12:53pm
Quoting tdion
HAHAHAHA



Hey Knight Rider, by your reasoning, anyone can play center in the NBA with the right attitude. WRONG!
Tdion, you were amusing when I first saw some of your posts almost a year ago. I saw you as a contrarian, an individual - not one of the sheep. Some of your comments I agreed with and some I didn't - notably in regard to TRT. (I think you were wrong about the PE on one of his methods).

The "Holy Grail" really IS within everyone (NBA aside - very funny). It is in one's utility. I now refer back to the most important point above for all those newbies. Point 4. Take it or leave it. Unfortunately for me, my first loss (many years ago) was not my best loss!

It is my way of giving something back. Unfortunately, nobody gave me any solid pointers when I first started (boo hoo)!

Best wishes,
KR
  • #10,039
  • Jun 17, 2011 5:40am Jun 17, 2011 5:40am
Did anyone catch that 9am GMT hourly dib on the euro? I did. How much retracement was there?

What a nice time to prove Smikester's point. Unfortunately, the weekly suggests this is a short term trade, but worth picking a "pocket or two"?

KR
  • #10,040
  • Jun 19, 2011 2:13pm Jun 19, 2011 2:13pm
Quoting Knight Rider
Did anyone catch that 9am GMT hourly dib on the euro? I did. How much retracement was there?

What a nice time to prove Smikester's point. Unfortunately, the weekly suggests this is a short term trade, but worth picking a "pocket or two"?

KR
Surely that trade was contrary to Smikester's point, as it was neither small nor in the direction of the wider trend?
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