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  • #661
  • Jul 9, 2011 3:30am Jul 9, 2011 3:30am
Quoting steve10%
The principle is to look at the market after around 6AM GMT as this is toward the end of the asian session.

Your graph is looking at IBs before this.

Take the basic principle ie sell weakness,buy strength.
You could apply this to other chart patterns.

The basic idea of taking profits then having a free trade combined with buy strength sell weakness is important.
Hi, Steve,

please look at this snapshot quoted from Peter's post. What confuses me is the entry time. Someone mentioned we should look IB only after 6:00 GMT. But in many snapshots of Peters, he played IB before 6:00 GMT, even @ 1:00 GMT, such as the following image shows:

I am sincerely look forward tohearing any comments on this.

BTW, may i know the indicator that can show the IB's low and high and the previous day's close, as shown in Peter's image. Thank you!

best regards and nice weekend

Joey
Attached Image (click to enlarge)
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  • #662
  • Edited 7:04am Jul 9, 2011 5:03am | Edited 7:04am
Quoting hotjoey
Hi, Steve,

please look at this snapshot quoted from Peter's post. What confuses me is the entry time. Someone mentioned we should look IB only after 6:00 GMT. But in many snapshots of Peters, he played IB before 6:00 GMT, even @ 1:00 GMT, such as the following image shows:

I am sincerely look forward tohearing any comments on this.

BTW, may i know the indicator that can show the IB's low and high and the previous day's close, as shown in Peter's image. Thank you!

best regards and nice weekend

Joey
Joey You will find the answer to this question in post # 61 (read carefully).My suggestion to anybody struggling with the concept that Peter has set out is to print out all of Peters posts and read them again and again untill you know them. Then you can start putting the ideas into practice. Good Luck.
  • #663
  • Jul 9, 2011 10:00am Jul 9, 2011 10:00am
Quoting fsiltd
So by saying I was "having a go"?
And in return got as a response...
I would still disagree about who drew-down first.

But I will agree with it being difficult to judge sentiment/tone with a written post. That is why, when I mean it, I always preempt my posts with "No offense meant/intended" "With all due respect" etc. etc.

Maybe I've just conversed with more floor/pit traders than I originally accounted for, and always hope that "the next one" will be somehow different. But alas... not yet.

Anyway, I'm probably cluttering up...
Oh, man, cut the crap. From the beginning, your posts in this thread were not constructive; if you got more secret on trading, why not share it to us? We'd lovely to hear that. If not, stay out of this thread or shut up to learn in a humble attitude. I might thought that is why you still hang over this forum and still stay in unprofitable trading. Since you came here, why not learn sth, or share sth, or help other? What a pathetic to you.
  • #664
  • Jul 9, 2011 10:04am Jul 9, 2011 10:04am
Quoting DemoForever
Joey You will find the answer to this question in post # 61 (read carefully).My suggestion to anybody struggling with the concept that Peter has set out is to print out all of Peters posts and read them again and again untill you know them. Then you can start putting the ideas into practice. Good Luck.

thank you!
  • #665
  • May 31, 2012 8:57pm May 31, 2012 8:57pm
I have revisited the DIBS method and have found that now after the dobb frankenstien act when you close half of your position it comes off the oldest trade instead of the current trade which is where you really want it to take the profit...... let me know what you guys think about this.....
  • #666
  • Jun 1, 2012 12:11am Jun 1, 2012 12:11am
Quoting tradestar1
I have revisited the DIBS method and have found that now after the dobb frankenstien act when you close half of your position it comes off the oldest trade instead of the current trade which is where you really want it to take the profit...... let me know what you guys think about this.....
Guess you mean the fifo thing, how brokers have to record your trades. Won't affect you at all, it's just an accounting procedure.
  • #667
  • Jun 1, 2012 12:15am Jun 1, 2012 12:15am
It has affected me...... I just had three DIBS trades today that all hit the close half position target and the units came out of the first position in the string. NOT the corresponding trade that it should have........
  • #668
  • Jun 1, 2012 12:29am Jun 1, 2012 12:29am
Quoting tradestar1
It has affected me...... I just had three DIBS trades today that all hit the close half position target and the units came out of the first position in the string. NOT the corresponding trade that it should have........
and how does that affect you negatively? You have less profit now? No, you just have a problem with the display. But in the end, it doesn't affect your balance. Or I just don't get your problem.
  • #669
  • Jun 1, 2012 1:31am Jun 1, 2012 1:31am
Say I have 4 trades in play....
each opened with 20,000 units...(I trade at Oanda).

First trade is entered and the 1to1 is hit so now I have 10000 units left in play from the first entry.

Second trade is placed and it is also a hypothetical perfect trade so the 1to1 is hit and again half the position size is closed....... problem is it comes off the first trade so now the first trade is completely closed.
The second position still has 20000 units and it's original SL in place.

This continues throughout the series..... Yes I have made money but the earliest trades are no longer in play thereby minimizing the overall possibility of a 5 to 1 , 10 to 1, 100 to 1 potential winner..... The possible fat tails have been bobbed so to speak.

Get it now?
  • #670
  • Jun 1, 2012 3:31am Jun 1, 2012 3:31am
Quoting tradestar1
Say I have 4 trades in play....
each opened with 20,000 units...(I trade at Oanda).

First trade is entered and the 1to1 is hit so now I have 10000 units left in play from the first entry.

Second trade is placed and it is also a hypothetical perfect trade so the 1to1 is hit and again half the position size is closed....... problem is it comes off the first trade so now the first trade is completely closed.
The second position still has 20000 units and it's original SL in place.

This continues throughout the series..... Yes I have made...
That's annoying, but you could have verified this on demo before if you weren't sure - that's what it's there for.

As Oanda don't allow partial closing now, not on the Europe division anyway, you're best off opening 2 positions per IB, and closing one at 1R or whatever, and letting the other ride.
  • #671
  • Jun 1, 2012 8:14am Jun 1, 2012 8:14am
Quoting mr_p
That's annoying, but you could have verified this on demo before if you weren't sure - that's what it's there for.

As Oanda don't allow partial closing now, not on the Europe division anyway, you're best off opening 2 positions per IB, and closing one at 1R or whatever, and letting the other ride.
That is certainly an alternative and not a bad one at that.

In one of Peter Crowns last posts he told about a fellow (Keith) who had contacted him re: DIBS and had done extensive backtesting.... He found that just trading DIBS without the 1/2 profit taking (He writes about it here) actually had a higher RR but the equity curve was not as smooth.

Well this was more of a rant re the elected ones and there attempts at protecting us from ourselves, and to bring this back for some discussion to see how others if any are still trading DIBS and how they have felt with the little things.......

Happy trading
  • #672
  • Jun 1, 2012 11:23am Jun 1, 2012 11:23am
Quoting tradestar1
That is certainly an alternative and not a bad one at that.

In one of Peter Crowns last posts he told about a fellow (Keith) who had contacted him re: DIBS and had done extensive backtesting.... He found that just trading DIBS without the 1/2 profit taking (He writes about it here) actually had a higher RR but the equity curve was not as smooth.

Well this was more of a rant re the elected ones and there attempts at protecting us from ourselves, and to bring this...
The easiest way around the Oanda FIFO is to stage the units differently. If I have more than 1 open position with 1 particular currency and the risk measurements mean the position size will be the same as the other, I just make it 1 unit bigger or smaller.

For example the first position is 100000 and the second is 100001. That 1 unit at the very end is really insignificant in terms of the overall size and it now allows you to close any part or all of your second position.

In regards to what Custos was stating. It is more just a manipulation of the SL boundaries and whilst it might appear confusing at first, once you have done it a few times it works out to be just the same. It is alot more work and your calculations need to be pretty accurate but it is possible to have the long tail trades, although in this current environment it has been a test to get some highly significant tails.

Try the odd position size and see if it works. It should do because I use it and have been using Oanda for sometime. Alternatively I think it also works if you make the mistake of not making the values the same, to close out 1 unit of the first position it then allows you to manipulate the 2nd, 3rd and so on, so long as there is a difference of value between all your positions the FIFO thing doesn't work. I re confirm it on a demo but like I say, I am pretty sure my trades this week allowed me to close out later ones first.

Take care

RT
  • #673
  • Edited Jun 2, 2012 1:48am Jun 1, 2012 4:30pm | Edited Jun 2, 2012 1:48am
Quoting Razor_trader
The easiest way around the Oanda FIFO is to stage the units differently. If I have more than 1 open position with 1 particular currency and the risk measurements mean the position size will be the same as the other, I just make it 1 unit bigger or smaller.

For example the first position is 100000 and the second is 100001. That 1 unit at the very end is really insignificant in terms of the overall size and it now allows you to close any part or all of your second position.

In regards to what Custos was stating. It is more just a manipulation...
I do that already and it works fine for closing a specific order, but it does nothing when you try to close half a position on a specific order.

I think the work-around is to open 2 positions and use the second to execute a 1/2 position TP.... In other words 2 positions at 5000 units, (or whatever you MM specifies) SL at the high/low of the inside bar, one of the 2 positions has a TP at 1 to 1, now the remaining position has essentially a free trade same as original rule.
  • #674
  • Jun 8, 2012 8:33am Jun 8, 2012 8:33am
Quoting tradestar1
I do that already and it works fine for closing a specific order, but it does nothing when you try to close half a position on a specific order.

I think the work-around is to open 2 positions and use the second to execute a 1/2 position TP.... In other words 2 positions at 5000 units, (or whatever you MM specifies) SL at the high/low of the inside bar, one of the 2 positions has a TP at 1 to 1, now the remaining position has essentially a free trade same as original rule.
True, I didn't think of it in that light (close partial of second, third plus orders. Opening multiples can be a right pain in the arse but then again the rule changes were never meant to make it easier. I don't run long tails any more, then longest I have run recently was about 190 pips. Markets just don't seem to allow much with alot of back and forth uncertainty. I choose my exits and position myself in a way that makes small amounts with occasion solid amounts which seems to work at a time like this. I no longer scale out a position but more will aim to take full profit where it seems comfortable.

I wish you all the best

RT
  • #675
  • Jun 10, 2012 8:22am Jun 10, 2012 8:22am
Quoting Razor_trader
The easiest way around the Oanda FIFO is to stage the units differently. If I have more than 1 open position with 1 particular currency and the risk measurements mean the position size will be the same as the other, I just make it 1 unit bigger or smaller.

For example the first position is 100000 and the second is 100001. That 1 unit at the very end is really insignificant in terms of the overall size and it now allows you to close any part or all of your second position.

In regards to what Custos was stating. It is more just a manipulation...
Good info...thanks!

Another work around for me is to move my SL very close to the current price on the order I wish to close on Oanda, and let price close out the trade. FIFO is necessarily thwarted this way. Also, the additional benefit is that frequently price continues away from the SL, and you end up with an even more profitable position on the trade you are attempting to close! lol
  • #676
  • Sep 1, 2012 4:43pm Sep 1, 2012 4:43pm
I wanted to express my gratitude for this thread. I stumbled onto it ...read every word that Peter Crowns wrote inclusive of his rant where he pledged never to return. I INTEND TO REREAD IT EVERY WEEK NOW UNTIL IT CEASES TO YIELD NEW INSIGHT WHICH MAY BE FOR ALONG TIME.

I am using his process and winning bigger than I could have imagined. Now I am working with 9 years of professional inputs that I could never have duplicated for lack of inside knowledge of the innner workings.

To those who are reading this message take the word of a profesional teacher and read the thread from beginning to end.
Ask yourself if you are one of the foolish simpletons who drove him to cease to share his knowledge as they pummelled him with their petty questions etc.
or are you someone who recognizes good talent when he or she speaks.
I haev come to conclude there are a large number of special special people who hang out here. There are times I ask myself why.

but then I simply say thanks and think how lucky I am to have this resource.

If I ever get a chance to thank Peter personally I will
I will not ask him how to avoid losses!
I will not try to add or tinker with his model of proven success!
I will not show my ingratitude as so many in this thread did.!

Another word of caution.
Get this threads threads value today

And be on the look out for other pearls of wisdom from men and women of intergrity and capabilities and a desire to help those who are self reliant looking for wisdom not handout.
Green pips away
Trading Consultants Inc JJG
  • #677
  • Oct 14, 2012 10:49am Oct 14, 2012 10:49am
Quoting Turtle Man
I wanted to express my gratitude for this thread. I stumbled onto it ...read every word that Peter Crowns wrote inclusive of his rant where he pledged never to return. I INTEND TO REREAD IT EVERY WEEK NOW UNTIL IT CEASES TO YIELD NEW INSIGHT WHICH MAY BE FOR ALONG TIME.

[font=Times New Roman][size=3]I am using his process and winning bigger than I could have imagined. Now I am working with 9 years of professional inputs that I could never have duplicated for lack of inside knowledge of the innner...
Hello Turtle Man,

You put it perfectly. I agree completely.
-happyTrading, maaj-
  • #678
  • Oct 29, 2012 5:38am Oct 29, 2012 5:38am
There is no such a thing as free in this world. You can find a deal somewhere and get a free coffee only if you will buy something. In regards of forex it is as every where hard work
  • #679
  • Nov 15, 2012 5:39am Nov 15, 2012 5:39am
Hello

Interrogation about trade management with DIBS.

Maybe my English is not sufficient, I did not found my interogation answered in the previous post. I understand and accept the fact that stop loss / trade management / position size is personal to each of us. So my interrogation is not for a precise answer but more what tho the pro may be prone to do.

Once a trade is entered
- When do you close 1/2 position
a) When price reach 2X the risk so you secure 1 Risk
b) When price reach 1X the risk so you Brake Even

- Once a partial profit has been taken
- You let the initial stop place and manage it for a long term position
- You move it to brake even ( price of entry)


Any point of view or opinion accepted
A good trading day to all

Martin
  • #680
  • Nov 15, 2012 6:44am Nov 15, 2012 6:44am
Quoting arjfca
Hello

...
Once a trade is entered
- When do you close 1/2 position
a) When price reach 2X the risk so you secure 1 Risk
b) When price reach 1X the risk so you Brake Even

- Once a partial profit has been taken
- You let the initial stop place and manage it for a long term position
- You move it to brake even ( price of entry)
...
Martin
Hi Martin, I am not an expert here just studying the DIBS thread like you at the moment.

As far as I read the original intentions are:
Remove half when price reaches 1X Risk and
You keep original STOP and manage for Longer Term using e.g. 20SMA

Good Luck

Alan
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