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The DIBS Method... No Free Lunch continues

  • #11,041
  • Oct 21, 2016 8:57am Oct 21, 2016 8:57am
Quoting dustbin
{quote} Now Look what it did. If PC was a man I could meet today. It would an interesting meeting. all the best guys. Let this be a great lesson to all of us. Simple WORKS.
and now it has turned into a proper structure .... don't know if anyone has done this on this thread... I am proud yet humble to know that I did a few times this year. Its the toughest form of trading. The constant learning ones can teach you a proper lesson...

I have marked the trades I took on the euro dollar an still holding all free trades one trade marked red was a losing one in this "structure". PC... Thank You.

you might notice there are no buy trades. Based on the range that this pair broke I was firmly opinionated on the bear side.
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"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #11,042
  • Oct 21, 2016 7:39pm Oct 21, 2016 7:39pm
Nice job holding on......................
  • #11,043
  • Oct 21, 2016 10:47pm Oct 21, 2016 10:47pm
Yes indeed, splendid job....and at a glance, I think the best trade was entry #2....where the inside bar formed right next to support.

I've noticed some of the best breakouts are like this....setting up right on top or below key areas of support and resistance.
  • #11,044
  • Jan 23, 2017 8:43am Jan 23, 2017 8:43am
Missed 3 chances to enter this trade, so no excuse...

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"The reason I was born and came into the world is to testify to the truth."
  • #11,045
  • Jan 23, 2017 1:49pm Jan 23, 2017 1:49pm
In a risky move I decided to enter on the 4th chance, even though too late into the day
Entry at @1.0746 with only 1 position at 15:37 GMT
TP at @1.0728 (luckily) at 17:23 GMT
Now it's back again above @1.0740

Attached Image (click to enlarge)
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That was my 2nd DIBS trade (kind of). First one was on Friday - a loss.
"The reason I was born and came into the world is to testify to the truth."
  • #11,046
  • Jan 24, 2017 4:12am Jan 24, 2017 4:12am
Hi Awesome People,

Finally finished reading through this glorious thread. Will be going and applying this strategy to my trading now. Just have one request if anyone could help a fellow trader.Because of my work hours I cant trade this system manually so I started looking and found Steve Hopwood's DIBS autotrader and DIBS_Ver7.mq4 trading robots in forexfactory.

My Request-
1- Could anyone share the latest versions of these EAs along with set files or detailed instructions especially around the time based entries as getting the right time is very important to get this strategy to work efficiently.

I believe this will benefit myself and lot of other new traders getting started on the DIBS method, who can't trade this awesome system manually because of the respective limitations.

Any response will be deeply appreciated.
  • #11,047
  • Jan 25, 2017 6:34am Jan 25, 2017 6:34am
Quoting PiPRock
Could anyone share the latest versions of these EAs along with set files or detailed instructions especially around the time based entries as getting the right time is very important to get this strategy to work efficiently. I believe this will benefit myself and lot of other new traders getting started on the DIBS method, who can't trade this awesome system manually because of the respective limitations.
Hi PiPRock,

I think that such request is not quite in the direction of the entire thread philosophy, which is.... "no free lunch".

Your limitations are understandable as I myself missed several DIBS entries while sleeping, but still I could enter some positions manually on some later times. Besides that, according to your own timezone, you can try different markets, like JPY/AUD/NZD during Asian market or whatever.

All the discussion about taking literally the 6:00 GMT daily start makes me think about this movie:
Inserted Video


"Fight Club" if one may not know it :-)

6:00 GMT can be the optimum daily start... or not, depending on the traded pair. It's up to us to find it out.
"The reason I was born and came into the world is to testify to the truth."
  • #11,048
  • Jan 25, 2017 6:42am Jan 25, 2017 6:42am
USDJPY had a valid DIBS entry when I woke up today, so I took the risk.

First tried the upper break @113.638 but without much confidence. Decided to stop it at @113.688 for +5 pips

Then tried the lower break @113.481 also without much confidence and set TP @113.230. When I came back to the screen after 15 minutes, the TP was already taken... and the pair moved further down to @113.036 before retracing a bit.

Beautiful DIBS setup but I was lucky to have given up the false upper break with +pips

Attached Image (click to enlarge)
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"The reason I was born and came into the world is to testify to the truth."
  • #11,049
  • Feb 8, 2017 9:29am Feb 8, 2017 9:29am
Beautiful DIBS setup on AUDUSD today

Why did I take the trade? The market was ranging for many hours and then created a IB quite late. Somehow it seemed clear that the only possible market action would be a breakout (eventually a big one).

I prepared both short and long positions, since both options were valid for DIBS. Luckily there was no fake breakout to the downside - it went straight up.

Took +20 pips since I don't make long term trades. Enough to compensate a stupid loss from yesterday.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1.png Size: 44 KB
"The reason I was born and came into the world is to testify to the truth."
  • #11,050
  • Feb 14, 2017 10:40am Feb 14, 2017 10:40am
After some days watching (and missing) possible setups, today I caught another DIBS trade on NZDUSD. I don't like to trade news, but...

Why did I take the trade? I started to watch the IB formed at 0400 GMT (no, I don't start at 0600 GMT) and the market stayed "locked" inside a 20-pip range until Yellen spoke at 1500 GMT. There were two small breakouts upwards but I missed both (luckily). So it was a sign that the bulls would have failed and a breakout would start to the other side.

Yellen made my sell position be triggered at 0.7174 (1 pip below the original IB) and TP reached at 0.7156 for +19 pips (I saw some support at 0.7155 yesterday - didn't risk my profit). Eventually the market went further up to 0.7134... whatever.

Attached Image (click to enlarge)
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"The reason I was born and came into the world is to testify to the truth."
  • #11,051
  • Mar 2, 2017 1:54pm Mar 2, 2017 1:54pm
Quoting dustbin
{quote} and now it has turned into a proper structure .... don't know if anyone has done this on this thread... I am proud yet humble to know that I did a few times this year. Its the toughest form of trading. The constant learning ones can teach you a proper lesson... I have marked the trades I took on the euro dollar an still holding all free trades one trade marked red was a losing one in this "structure". PC... Thank You. you might notice there are no buy trades. Based on the range that this pair broke I was firmly opinionated on the bear side....
What is your approach to exits? Did I see you say in an earlier post that you are not a fan of moving averages?
  • #11,052
  • May 11, 2017 2:03pm May 11, 2017 2:03pm
hey
do u guys still trading DIBS?
  • #11,053
  • May 12, 2017 1:11am May 12, 2017 1:11am
yes of course. its a wonderful&simple system with high winning trades...if you get one good entry.
trading is like dancing, don't think and just listen to the music!
  • #11,054
  • May 13, 2017 12:42pm May 13, 2017 12:42pm
hey guys
how many candle after the IB, and the signal will still be valid?
check pic for example
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  • #11,055
  • May 15, 2017 3:57am May 15, 2017 3:57am
Quoting Saleh198
hey guys how many candle after the IB, and the signal will still be valid? check pic for example {image}
yes of course. i always take them when they fit into the picture.
trading is like dancing, don't think and just listen to the music!
  • #11,056
  • May 16, 2017 2:28pm May 16, 2017 2:28pm
eurusd and usdchf has been trending last few days i decided to enter usdchf today .....free trade
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thankyou gregwilson
  • #11,057
  • May 17, 2017 5:20am May 17, 2017 5:20am
George Lanes work may help to spot the right inside bars that have greater potential...my observation and personal research
thankyou gregwilson
  • #11,058
  • May 17, 2017 6:31am May 17, 2017 6:31am
gbpusd free trade
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thankyou gregwilson
  • #11,059
  • May 19, 2017 10:34am May 19, 2017 10:34am
Sup guys
if either HIGHS or LOWS of two candle are equal, do we still enter
and can we trade the 15min chart, if so where to set the daily open
and what pair do u trade the most
thanks, and sorry for the many question
  • #11,060
  • Jun 2, 2017 5:45am Jun 2, 2017 5:45am
Today I have Inside Bars after the London opening forming on USDCHF and USDJPY
Anyone else on this?
Yesterday I took just 2 Inside bars on EURGBP and GBPUSD. The former I took profit at 1:1 and the latter closed just above breakeven.... I had moved both stop losses to BE anyway.
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