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The DIBS Method... No Free Lunch continues

  • #10,861
  • Jun 17, 2016 3:03am Jun 17, 2016 3:03am
Quoting suneth2
This method is great, But my problem is i don't have enough patient for hold profits, I tried a lot to improve patient but still not luck with that, Do you guys have some resources or method about improve patient ? If there have can you share that or PM me please. Thank You

LOL ... you make my day.

Seriously, trading is a question of patience, practice and self-control. I'm bad at all 3 of course, but this is the way, amigo
"Let us strive to be more parents of our destiny than children of our past"
  • #10,862
  • Jun 17, 2016 8:48am Jun 17, 2016 8:48am
eu free trade
Attached Image (click to enlarge)
Click to Enlarge Name: eu 17th 2016.PNG Size: 23 KB
thankyou gregwilson
  • #10,863
  • Jun 17, 2016 8:57am Jun 17, 2016 8:57am
Quoting njokie
eu free trade {image}
Good one, good for you.

I just did not like the structure at all. And given that its Friday. No trade for me. Markets are all confused. but that's just me. We have an important even next week so I will be liquid and watching with intent.

Have a great weekend.

(I know nothing , don't follow me for God's sake. But I humbly request to Please do no hesitate to TEACH me. Thanks)
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #10,864
  • Jun 17, 2016 10:48am Jun 17, 2016 10:48am
Quote
This method is great, But my problem is i don't have enough patient for hold profits,
I tried a lot to improve patient but still not luck with that, Do you guys have some resources or method about improve patient ? If there have can you share that or PM me please. Thank You

Having a complete trading plan that you have tested will help you follow the rules.
  • #10,865
  • Jun 17, 2016 11:50pm Jun 17, 2016 11:50pm
Quoting Dale
{quote} Having a complete trading plan that you have tested will help you follow the rules.
Thank You
Failure is not failure if you learn from it...
  • #10,866
  • Edited Jun 19, 2016 9:44am Jun 18, 2016 11:05am | Edited Jun 19, 2016 9:44am
Quote
Thank You


If a trader/investor thought they saw opportunity on this chart wouldn't it be nice if they had some method of low risk entry into the market? Would he/she get out if we thought prices had run their course?
Attached Image (click to enlarge)
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  • #10,867
  • Jun 19, 2016 1:43pm Jun 19, 2016 1:43pm
Quoting Dale
{quote} If a trader/investor thought they saw opportunity on this chart wouldn't it be nice if they had some method of low risk entry into the market? Would he/she get out if we thought prices had run their course? {image}
Thanks Dale.

I've spent most part of this weekend, contemplating and meditating over this concept. Why would I get out of something that is just going in one direction. It took me a long time to understand (at a superficial level of course) why Mr. Crown trades the DIBS as he does. LONG TRAILS or is it TAILS? Both make sense to me.
You see a trend on the weekly or the daily chart, you have reason to believe it should continue, you take a FREE TRADE and ADD a FEW more to that STRUCUTRE and somehow allow it to just continue to Grow. (with of course a set criteria how you trail your SL locking in profits along the way to eventually get stopped out wit ha massive multiple of RR's. How nice...

Hope everyone had a good weekend.

ps:
@Suneth2
we made a bit of joke of that very important question. First, sorry about that, but it was a good laugh. Second thanks Dale for guiding us. Yes, a Trading Plan and Testing the concept greatly helps. When you know you're trying to trade a concept, an idea which gives you higher odds, higher probability of success, you know that you're simply executing a well thought out plan and you have nothing fancy to do here. You just keep taking the right setups and continue to manage them correctly. When you start to enjoy it, being patient is not even something you think about. Because its FUN.

Here i'd like to Quote Jarro from the Illustrious JAMES16 thread.

Quoting jarroo
{quote} Tell yourself that it's NOT stronger then you, is a start. Patience can be learned . . it just takes Practise . .just like anything else. If Patience was easy is wouldn't be a virture. Fun thing is, I'm pretty impatient person outside of trading. But once I realized that waiting for the best set-up pays off big time. Why would I ever rush a trade ever again. Don't get me wrong, my patience is always tested just not as much.
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #10,868
  • Jun 19, 2016 4:18pm Jun 19, 2016 4:18pm
Quoting njokie
eu free trade {image}
nice gap up for you!!! enjoy
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #10,869
  • Jun 19, 2016 9:41pm Jun 19, 2016 9:41pm
Thank you
  • #10,870
  • Jun 20, 2016 1:07am Jun 20, 2016 1:07am
Quoting dustbin
{quote} Thanks Dale. I've spent most part of this weekend, contemplating and meditating over this concept. Why would I get out of something that is just going in one direction. It took me a long time to understand (at a superficial level of course) why Mr. Crown trades the DIBS as he does. LONG TRAILS or is it TAILS? Both make sense to me. You see a trend on the weekly or the daily chart, you have reason to believe it should continue, you take a FREE TRADE and ADD a FEW more to that STRUCUTRE and somehow allow it to just continue to Grow. (with...
Great, Thanks for the info
Failure is not failure if you learn from it...
  • #10,871
  • Jun 20, 2016 2:29am Jun 20, 2016 2:29am
UC & GJ (Nice gap closed whith a good profit my 1:1 trades) . Now letting run this Free Trades.
Attached Images
"Let us strive to be more parents of our destiny than children of our past"
  • #10,872
  • Jun 20, 2016 1:18pm Jun 20, 2016 1:18pm
Quoting kaltrax
UC & GJ (Nice gap closed whith a good profit my 1:1 trades) . Now letting run this Free Trades. {image} {image}
BRAVE decisions. I know it is useless to say it now but imagine if those gaps were the other way round. Its not an Impossibility however on this occasions there was enough evidence of longs to continue. I won't take new positions on a Friday for FEAR of such events specially in the current climate.

All IMHO Know-er of no-thing. Dustbin of Rubbish IDEAS...
[Trading Will Continue for me Post Brexit]
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #10,873
  • Jun 22, 2016 2:58am Jun 22, 2016 2:58am
Hi friends, moving my SL , Brexit is near and it's better tight your gadgets, lol...

It's true that a gap could be a whooping profit or worse..., normally i don't like open new trades at friday but it was a faith jump (bad long run strategy, take it whith care).
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"Let us strive to be more parents of our destiny than children of our past"
  • #10,874
  • Jun 22, 2016 4:58am Jun 22, 2016 4:58am
Quote
Hi friends, moving my SL , Brexit is near
Hi Kaltrax,
I am trying to understand this method and i have a question.
I suppose you entered long @149.199 after the second IB on june 17.
You should have been taken out 3 bars later, what are your stoploss settings?
Thanks.
Herman.
  • #10,875
  • Jun 22, 2016 5:30am Jun 22, 2016 5:30am
Quoting HermanV
{quote} Hi Kaltrax, I am trying to understand this method and i have a question. I suppose you entered long @149.199 after the second IB on june 17. You should have been taken out 3 bars later, what are your stoploss settings? Thanks. Herman.

Hi HermanV:

My IB was 5th from OB and order filled 5 bars later. SL normally IB range , sometimes a bit more if i see round numbers, fibo confluence.

Good Trading
"Let us strive to be more parents of our destiny than children of our past"
  • #10,876
  • Jun 24, 2016 3:05pm Jun 24, 2016 3:05pm
Attached Image (click to enlarge)
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Well, I hope everyone avoided the "Brexit" avalanche in cable, EUR/USD etc.

Before the biggest one-day drop in GBP/USD's history, there were a few DIBS trade set-ups
in the aftermath of MP Jo Cox's tragic death on the 16th. The pound had bottomed out at
about 1.4010, and before the weekend it had already risen to about 1.4350.

(This is a forex.ca chart; your OHLC prices may be a little different, of course.)

Attached Image (click to enlarge)
Click to Enlarge Name: THE WEEK OF THE BREXIT VOTE - GBPUSD - TWO VALID IB setups - starting 2016-06-19 Asian open.png Size: 56 KB


The rest is history...

Attached Image
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #10,877
  • Jun 28, 2016 10:06am Jun 28, 2016 10:06am
Finally finding a bit of confidence in actually taking a trade.
Free Trades on UJ but don't know what will happen, as always. However as long as there are no surprise spikes or gaps it looks pretty good so far.
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"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #10,878
  • Jun 29, 2016 8:38am Jun 29, 2016 8:38am
Quoting dustbin
Finally finding a bit of confidence in actually taking a trade. Free Trades on UJ but don't know what will happen, as always. However as long as there are no surprise spikes or gaps it looks pretty good so far. {image}
Both got stopped out one for BE another for some. But should be still in that one. Does not matter NEXT
GU long today at 10amUK time BAR was ideal for longs. But I was already long on the range breakout so did not take it. I have however, closed half and SL is still at -1R. See hwat happens. i'm thinking 1.4 and 1.38 areas. haha
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #10,879
  • Jun 29, 2016 10:34am Jun 29, 2016 10:34am
Quoting dustbin
{quote} Both got stopped out one for BE another for some. But should be still in that one. Does not matter NEXT GU long today at 10amUK time BAR was ideal for longs. But I was already long on the range breakout so did not take it. I have however, closed half and SL is still at -1R. See hwat happens. i'm thinking 1.4 and 1.38 areas. haha
I took that Cable inside bar and up currently 120 pips, will see ho far it runs, hopefully it will fill the gap !
Thank you J16 & Trader Dante
  • #10,880
  • Jun 30, 2016 12:58am Jun 30, 2016 12:58am
Quoting dustbin
{quote} Both got stopped out one for BE another for some. But should be still in that one. Does not matter NEXT GU long today at 10amUK time BAR was ideal for longs. But I was already long on the range breakout so did not take it. I have however, closed half and SL is still at -1R. See hwat happens. i'm thinking 1.4 and 1.38 areas. haha

Very good managed, Dustbin.

I'm aside, don't look well out there, maybe a trade or two but not today....,, tomorrow... lol
"Let us strive to be more parents of our destiny than children of our past"
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