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- Mets replied Jul 3, 2008
In Peter's lastish post he mentioned "Your First Loss Is Your Best Loss." For those looking for some reading, I'd suggest this: url Yes it is in the context of stocks, but the information applies to all markets.
No Free Lunch but all the Free Coffee you can drink
- Mets replied Jul 3, 2008
Anybody taking any more trades for the day, or for the week for that matter, in the wake of NFP, or did we all decide to take a vacation with our pips?
The DIBS Method... No Free Lunch continues
- Mets replied Jul 3, 2008
Yes it's very confusing, all of the numbers suggest that USD should be getting weaker, not stronger...but this is why it burns to trade the news. The guys in the EURUSD thread said that because Trichet claimed that he had "no bias" towards rate ...
The DIBS Method... No Free Lunch continues
- Mets replied Jul 3, 2008
I'm not a news trader, but I'm shocked that it fell on bad numbers across the board. This just confirms to me why I don't at all want to be a news trader. I don't think anybody here has any idea what's going on, just people riding the wave once it ...
EURUSD
- Mets replied Jul 2, 2008
Forex007, I agree in regards to the indecision, as an IB represents price consolidation. Not sure what you mean by BB, is that the breakout bar or something? Also, the up/down day does work for our method because we are looking for the trade with ...
The DIBS Method... No Free Lunch continues
- Mets replied Jul 2, 2008
Just a quick question - how long are the IBs valid for, and how many times are you trading them. I.e. if it goes up, down, up, down, even if it's hitting 1:1 each time, how far past the IB are you willing to take a trade based on it?
The DIBS Method... No Free Lunch continues
- Mets replied Jul 2, 2008
Should see a setup here on the GBP/USD again for a short in a few. It's down quite a bit on the day though, not sure if I should pull the trigger (or if I'll have a chance).
The DIBS Method... No Free Lunch continues
- Mets replied Jul 2, 2008
Stupid news spikes killed everything on the EUR/USD and GBP/USD this morning. Still squeezed a few pips profit out but nothing to write home about.
The DIBS Method... No Free Lunch continues
- Mets replied Jul 1, 2008
Straddle, from the master himself: On a separate note, there's a EUR/USD setup, though it's late in the day.
The DIBS Method... No Free Lunch continues
- Mets replied Jul 1, 2008
hey guys, I've been noticing that the setups early in the morning (around 1-2am EST) tend to be highly variable. Today for example, both setups on the GBP/USD and USD/CHF went one way, stopped out, and then trended well in the opposite direction. Is ...
The DIBS Method... No Free Lunch continues
- Mets replied Jun 30, 2008
Thanks for the answers. One more question - how late in the day do you guys trade? I usually trade 1am - 1pm and it's worked out well. Most of the setups (read: those from last week) I've found after 2pm usually end up being trend reversals, as an ...
The DIBS Method... No Free Lunch continues
- Mets replied Jun 30, 2008
Scot, does that mean you buy when the ask price crosses above the IB (not the chart itself) on a long and sell when the ask price is below the IB on a short, or do you just increase the distance to the target?
The DIBS Method... No Free Lunch continues
- Mets replied Jun 30, 2008
Ok maybe not always (wishful thinking) but it appears that it gets hit more often. I've only been using this for about 1.5 weeks though, so I could have just gotten a good market or something. Some people have been using this for a while, so I ...
The DIBS Method... No Free Lunch continues
- Mets replied Jun 30, 2008
hey, I've noticed that a lot of times, due to the spread, I'm quoted several pips beyond the entry point. Should I pick my 1:1 target based on the IB only, or based on my entry position (a few pips above the top) and my exit position (1 pip below ...
The DIBS Method... No Free Lunch continues
- Charts based off of the bid price?Started Jun 18, 2008|Rookie Talk|1 reply
Hi, The intraday forex charts that my broker (thinkorswim) provides me are all based off of the bid ...
- Mets replied Jun 16, 2008
Thank you NowAndLater, and thank you so much PeterCrowns. The thing that first got my attention on this thread was when Peter said in post #23 "when you are ready to actually make money..., and stop the bleeding..." As a new trader, I've tried ...
No Free Lunch but all the Free Coffee you can drink
- Mets replied Jun 16, 2008
Bemac, fxprocessor, thanks very much, I think I have it down now. One final question, and if it should be in the other forum, feel free to move the post - do you wait until there is a CLOSE above/below the inside bar to initiate a new position, or ...
No Free Lunch but all the Free Coffee you can drink
- Mets replied Jun 13, 2008
I was following this thread, and I saw that Peter said for stops, place them at the "other side" of the inside bar. I'm not sure if I'm thinking of the same thing he is. Would that be the top (for short) or bottom (for long) of the bar that comes ...
No Free Lunch but all the Free Coffee you can drink
- Mets replied Jun 9, 2008
hey, great system, it looks very effective. I just tried a few trades with it on a demo account - can anybody comment on these setups? Both are short. image image
Powerful Fib Based System - by DAZfx