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The DIBS Method... No Free Lunch continues

  • #10,881
  • Jul 5, 2016 4:12am Jul 5, 2016 4:12am
We are back in the game guys ..

Here is UJ I took YD and added today. Entry was IB influenced but was hesitating a bit earlier and then took it anyway. Today's entry was clear cut.

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GBP/JPY Missed

This is a good setup because we have momentum ahead of the IB overnight. Making it a better entry. I missed it.
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"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #10,882
  • Jul 8, 2016 4:36am Jul 8, 2016 4:36am
Quoting dustbin
We are back in the game guys .. Here is UJ I took YD and added today. Entry was IB influenced but was hesitating a bit earlier and then took it anyway. Today's entry was clear cut. {image} GBP/JPY Missed This is a good setup because we have momentum ahead of the IB overnight. Making it a better entry. I missed it. {image}
The shorts concluded with good profits on USD/JPY and today I'm long
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"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #10,883
  • Jul 8, 2016 8:27am Jul 8, 2016 8:27am
Hi dustbin,

could you please elaborate on your results in the recent months with this system? and how long do you use it profitably? I tried to backtest it on EURUSD and GBPUSD a few weeks ago but the results were not that bright. When there is no trend, I mostly lost with this system. Of course it very much depends on someone's trailing mechanism since entry is not discretionary. I was using a midterm exponential MA on hourly charts.
Regards.

Quoting dustbin
{quote} The shorts concluded with good profits on USD/JPY and today I'm long {image}
  • #10,884
  • Jul 8, 2016 8:32am Jul 8, 2016 8:32am
Quoting Lanes110
Hi dustbin, could you please elaborate on your results in the recent months with this system? and how long do you use it profitably? I tried to backtest it on EURUSD and GBPUSD a few weeks ago but the results were not that bright. When there is no trend, I mostly lost with this system. Of course it very much depends on someone's trailing mechanism since entry is not discretionary. I was using a midterm exponential MA on hourly charts. Regards. {quote}
Peter Crowns trailed using a 20 day SMA, that is part of his system.
  • #10,885
  • Jul 8, 2016 10:12am Jul 8, 2016 10:12am
Quoting Lanes110
When there is no trend, I mostly lost with this system. {quote}
I would not expect money to be made with a trend system when there is no trend. It is like trying to sail without any wind. Your job is to determine as early as possible during a session whether it is a trend day or a ranging day. In fact, as a daytrader, this is one of the most important skills to develop.

You will often see a range day (with narrower hi-lo range) immediately following a big trend day in which there was volatility expansion (wider hi-lo range). This is due to volatility being mean-reverting which in fact is the key to DIBS, as an inside bar represents a volatility contraction that can be expected to revert to volatility expansion and a price move before long.
  • #10,886
  • Jul 8, 2016 2:16pm Jul 8, 2016 2:16pm
Quoting Lanes110
Hi dustbin, could you please elaborate on your results in the recent months with this system? and how long do you use it profitably? I tried to backtest it on EURUSD and GBPUSD a few weeks ago but the results were not that bright. When there is no trend, I mostly lost with this system. Of course it very much depends on someone's trailing mechanism since entry is not discretionary. I was using a midterm exponential MA on hourly charts. Regards. {quote}
Hi,

I consistently grab between 5-10% per month risking only half to one percent per trade. I don't take every signal. Trading every signal does not require human skill. If it was profitable on trading every signal I would easily get an algorithm put together but that's not how it works. The Secret lies in 2 things. 1. The HOT Hand and the 2. The ability to allow your winners to run. There is a fine balance between letting it run too long or getting out prematurely cant get it right all of the time but my formula is based on PTJ as long as I keep getting 5:1 Winners I will never lose money with this system.

hope it makes sense. btw: i have not yet managed those monster big winners that you run on the dailies. But may be one day. I believe markets move in what some would call wave 3 for 2-3 days followed by a sideways market for 1-2 days sometimes longer and then another 1-2 days impulse. This can then create a major reversal or a sideways market with higher range. And then it repeats. I try to catch those 1-3 days long trades. As long as I catch 1-3 a month, i'm up for the month. simple.

I hope it makes sense. Have a great weekend. NFP was great, I traded breakouts and grabbed over 3%. nice start.

cheers
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #10,887
  • Jul 12, 2016 4:56am Jul 12, 2016 4:56am
usd/jpy free trade
Attached Image
thankyou gregwilson
  • #10,888
  • Jul 12, 2016 8:47am Jul 12, 2016 8:47am
Quoting njokie
usd/jpy free trade {image}
nice one, the GY DIBS YD, is AWESOME and its flying. so is the Eur/Jpy i took both.
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #10,889
  • Jul 12, 2016 11:27am Jul 12, 2016 11:27am
Today I opened this short IB trade on XAUUSD, then guess what? It was only one order (it moved so fast I could not catch it), I could not cover half at 1:1. So I said it is better to close all of it I got 4 $ move but then it moved additional 14 $!

Also there was an IB USDJPY trade (mentioned above) but i did not take it because I did not find it strong. Then it made a huge move.
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  • #10,890
  • Jul 12, 2016 2:10pm Jul 12, 2016 2:10pm
Quoting njokie
usd/jpy free trade {image}

closed at 1:5
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thankyou gregwilson
  • #10,891
  • Jul 13, 2016 11:21am Jul 13, 2016 11:21am
Quoting njokie
{quote} closed at 1:5 {image}
Nicely done Njokie, Very NICE>>> simple
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #10,892
  • Jul 13, 2016 2:22pm Jul 13, 2016 2:22pm
Quoting dustbin
{quote} Nicely done Njokie, Very NICE>>> simple
thenx dustbin trying to capture huge moves.....
thankyou gregwilson
  • #10,893
  • Jul 13, 2016 3:04pm Jul 13, 2016 3:04pm
Quoting dustbin
{quote} nice one, the GY DIBS YD, is AWESOME and its flying. so is the Eur/Jpy i took both.
Hi Dustbin
I am a new in this thread and learning method, what do you think about this enter and why you chois 8.00 GMT?
Thanks
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  • #10,894
  • Jul 13, 2016 4:37pm Jul 13, 2016 4:37pm
Quoting safrash
{quote} Hi Dustbin I am a new in this thread and learning method, what do you think about this enter and why you chois 8.00 GMT? Thanks {image}
Hi

Have breakfast, take a deep breath and READ POST 1.

cheers
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #10,895
  • Jul 14, 2016 4:21am Jul 14, 2016 4:21am
usdchf free trade
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thankyou gregwilson
  • #10,896
  • Jul 14, 2016 7:06am Jul 14, 2016 7:06am
NEWS Events are awesome if you know how to trade them.

Quick 3.5%
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USD/JPY had a dibs trade but due to this news event I chose not to take it.
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #10,897
  • Jul 14, 2016 7:21am Jul 14, 2016 7:21am
Quoting dustbin
NEWS Events are awesome if you know how to trade them. Quick 3.5%{image} USD/JPY had a dibs trade but due to this news event I chose not to take it.

congrats.......... my sl hit where had you put your sl
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thankyou gregwilson
  • #10,898
  • Jul 14, 2016 9:32am Jul 14, 2016 9:32am
Quoting njokie
{quote} congrats.......... my sl hit where had you put your sl {image}
sorry to hear that mate. oh well.. NEXT
however for me, there was no pullback after entry, on my feed, as Iwas watching the price, it started moving a minute before the realease came up to my order then went down and at news went straight up. I guess my broker is good. I do manage my trades on broker provided almost no latency vps. (always less than 5ms)

cheers

ps: attached pic of M1 chart to get an idea of what happened.
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"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #10,899
  • Jul 14, 2016 12:44pm Jul 14, 2016 12:44pm
usd chf closed at 1:3 dustbin i guess i will try your broker
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thankyou gregwilson
  • #10,900
  • Jul 14, 2016 12:47pm Jul 14, 2016 12:47pm
Quoting dustbin
{quote} sorry to hear that mate. oh well.. NEXT however for me, there was no pullback after entry, on my feed, as Iwas watching the price, it started moving a minute before the realease came up to my order then went down and at news went straight up. I guess my broker is good. I do manage my trades on broker provided almost no latency vps. (always less than 5ms) cheers ps: attached pic of M1 chart to get an idea of what happened. {image}
i see what happened i entered too early thenx for helping me know where i went wrong dustbin
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thankyou gregwilson
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