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The DIBS Method... No Free Lunch continues

  • #10,441
  • Apr 17, 2014 9:20am Apr 17, 2014 9:20am
Quoting Razor_trader
{quote} I haven't traded IB's exclusively for years, I am more akin to looking at the market from a Daily/weekly POV, looking for breakouts and then steering into a lower timeframe once I see a potential entry point, but IB's are range candles and the higher the timeframe, the longer the consolidation will be on the lower timeframes. Hindsight is always 20/20 and we don't know the outcome of a trade until after it has happened. I think therefore what Mike says is true to some regard with having the patience to see whether a break has any power behind...
Thanks RT for your feedback - much appreciated
lights a lot of bulbs - and raises even more questions to be honest
Slow & steady
  • #10,442
  • Apr 17, 2014 7:38pm Apr 17, 2014 7:38pm
Quoting Razor_trader
{quote} Having the setups, be it IB's, Breakout/Pullbacks, Divergence, MA's or any other form of strategy is one thing, being able to trade without hesitation and without emotion is a whole new kettle of fish. That last piece of imformation may have been of topic but to trade IB's exclusively I think takes alot of patience, to both absorb some ranging losses and being able to sit on your hands long enough to realise a profit. I believe Jessie Livermore said the same thing about making money by sitting...
BRAVO!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,443
  • Apr 23, 2014 6:38am Apr 23, 2014 6:38am
Can someone tell me:

Why in the world would Peter Crowns watch usd.chf and eur.usd as 2 of the only 4 pairs he watches? they are the same.

gbp.usd and eur.usd are similar too. basically... he was watching two pairs but complicated it.
  • #10,444
  • Apr 23, 2014 7:08am Apr 23, 2014 7:08am
Quoting chiba_san
Can someone tell me: Why in the world would Peter Crowns watch usd.chf and eur.usd as 2 of the only 4 pairs he watches? they are the same. gbp.usd and eur.usd are similar too. basically... he was watching two pairs but complicated it.
Hi Chiba

the only explanation is that although prices are moving in tandem, the price action trigger he used (inside bar) coud happen on one but not on the other...That being said there would be no advantage of taking both if entries set up at the same time.
tradewith60
  • #10,445
  • Apr 23, 2014 7:36am Apr 23, 2014 7:36am
Quoting 60minuteman
{quote} Hi Chiba the only explanation is that although prices are moving in tandem, the price action trigger he used (inside bar) coud happen on one but not on the other...That being said there would be no advantage of taking both if entries set up at the same time.
thank you 60minuteman. as always, much respect to you, sir.
  • #10,446
  • Apr 23, 2014 9:10am Apr 23, 2014 9:10am
Quoting chiba_san
Can someone tell me: Why in the world would Peter Crowns watch usd.chf and eur.usd as 2 of the only 4 pairs he watches? they are the same. gbp.usd and eur.usd are similar too. basically... he was watching two pairs but complicated it.
They are not the same to me unless you know something I don't. Please elaborate in detail.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,447
  • Apr 23, 2014 9:30am Apr 23, 2014 9:30am
Quoting chiba_san
I want to know how DIBS handles news. There are more and more whipsaws. Even if it goes the right way, there is so much whipsawing. just look at these news wicks. nobody can trade it. they shake you out and make sure they are long enough to do so.
Trading the 15m IB following news is a very effective method for handling news. Let the 15min news candle pass, wait for the next 15m candle to form - it is very often an IB. Then trade that one.

Seneca Pilot describes it here http://www.forexfactory.com/showthre...89#post6500089
  • #10,448
  • Apr 23, 2014 2:37pm Apr 23, 2014 2:37pm
Quoting hollowhead
{quote} Trading the 15m IB following news is a very effective method for handling news. Let the 15min news candle pass, wait for the next 15m candle to form - it is very often an IB. Then trade that one. Seneca Pilot describes it here http://www.forexfactory.com/showthre...89#post6500089
Thank you Hollowhead! appreciate it.
  • #10,449
  • Jun 3, 2014 4:22pm Jun 3, 2014 4:22pm
Hi maybe this indicator could help in trading IBs, it has helped me a lot.
Attached Image (click to enlarge)
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  • #10,450
  • Jun 3, 2014 4:35pm Jun 3, 2014 4:35pm
Quoting chiba_san
Can someone tell me: Why in the world would Peter Crowns watch usd.chf and eur.usd as 2 of the only 4 pairs he watches? they are the same. gbp.usd and eur.usd are similar too. basically... he was watching two pairs but complicated it.
Only since the credit crisis quantitative easing and the SNB instituting a floor in EURCHF do they move the same way.
It used to be that in the European trading session (which DIBs is written for) they would move differently even vs the USD. In US trading hours it is more about the USD and they move the same way often.
If you haven't been trading more than 5 years you won't have seen it but it will come back again.
  • #10,451
  • Jun 4, 2014 5:19pm Jun 4, 2014 5:19pm
Quoting charlivia
Hi maybe this indicator could help in trading IBs, it has helped me a lot. {image}
So what exactly does this indicator do? Just highlight any IB's?
  • #10,452
  • Jun 5, 2014 1:02pm Jun 5, 2014 1:02pm
After you install the indicator any time frame you change it to it will show you the IBs that can be traded. The list of pairs can be changed to what ever pairs you are watching
  • #10,453
  • Jun 6, 2014 2:04am Jun 6, 2014 2:04am
Quoting charlivia
Hi maybe this indicator could help in trading IBs, it has helped me a lot. {image}
Hello Charlivia, can you please post the indicator?
  • #10,454
  • Jun 6, 2014 3:56pm Jun 6, 2014 3:56pm
Has anyone else noticed that most of the breakouts in the first picture in the first post on the first page are actually pennant or triangle breakouts (some of them will be best visible on lower TFs, but anyway) ?
  • #10,455
  • Jun 6, 2014 11:11pm Jun 6, 2014 11:11pm
Quoting ksofty
Has anyone else noticed that most of the breakouts in the first picture in the first post on the first page are actually pennant or triangle breakouts (some of them will be best visible on lower TFs, but anyway) ?
Yeah. After a while you start noticing that almost all the strategies found in Forex Factory are basically doing the same things, looking at the same picture through different lenses. It can be amusing watching people argue about whose approach is best though.
si hoc legere scis nimium eruditionis habes
  • #10,456
  • Jun 7, 2014 10:02pm Jun 7, 2014 10:02pm
Quoting numbnuts
{quote} Yeah. After a while you start noticing that almost all the strategies found in Forex Factory are basically doing the same things, looking at the same picture through different lenses. It can be amusing watching people argue about whose approach is best though.
Traders love to argue. Well, some do. And some are downright nasty, too! Ask a simple question on some threads and you get told to go do your homework. A lot of trader ego. Hard to pinpoint what they gain from treating fellow traders so poorly. Maybe a sense of import?! It is fun watching the clowns.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,457
  • Jun 8, 2014 1:10am Jun 8, 2014 1:10am
Quoting TooSlow
{quote} Traders love to argue. Well, some do. And some are downright nasty, too! Ask a simple question on some threads and you get told to go do your homework. A lot of trader ego. Hard to pinpoint what they gain from treating fellow traders so poorly. Maybe a sense of import?! It is fun watching the clowns.
I see you have been to the Sonic thread, where they are using a completely fictional construct to average down

Garbage In, Garbage Out....is it any wonder why tah and his cult of followers is so rude?
If you are good at something, never do it for free--Joker
  • #10,458
  • Jun 8, 2014 8:55pm Jun 8, 2014 8:55pm
Quoting jmn5611
{quote} I see you have been to the Sonic thread, where they are using a completely fictional construct to average down Garbage In, Garbage Out....is it any wonder why tah and his cult of followers is so rude?
Viewed the Sonic thread for a while. Couldn't stand the rudeness, not only to me, but to others. Rudeness to others doesn't add value to my portfolio. As question that has been asked and answered previously, could be pointed out to newcomers to the thread without being derogatory. Makes one question how well Sonic is doing in the market place. Making bank would make me happy and less inclined to be rude and mean. Does any of this make sense to you?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #10,459
  • Jun 11, 2014 7:38am Jun 11, 2014 7:38am
Quoting chiba_san
Can someone tell me: Why in the world would Peter Crowns watch usd.chf and eur.usd as 2 of the only 4 pairs he watches? they are the same. gbp.usd and eur.usd are similar too. basically... he was watching two pairs but complicated it.
Remember the comments from Crowns regarding the "Hot Hand".
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #10,460
  • Jul 4, 2014 11:30pm Jul 4, 2014 11:30pm
Quoting Knight Rider
RE: Winners Peter Crowns is genius. Peter Crowns, I believe, is a discretionary trader. This should be the biggest clue to most traders in this thread. I would not listen to RazorTrader or whatever his name is. Smikester (chart) seems to be on the right track, as do a few others...whether they know it or not is another matter... I thought I knew it months ago. I have just this second realised how close I was. It is the simplest methods that are correct. The simplest price actions that do not lie...that price intention cannot hide from. DIBS is not...
Great post!

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