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The DIBS Method - No Free Lunch Returns 13 replies
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Peter Crown's DIBS method revisited 14 replies
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DislikedNo. This happens frequently.Only if it breaks hard the wrong way, or starts consolidating, should you withdraw your trade. If you search for Peter Crown's profile and then read his posts, from the first one, you will get a clear insight into his trading methods, on which this thread is based.Ignored
DislikedWould this have been considered invalid once price has broken has broken the high of the IB?
MattIgnored
DislikedHi Matt,
I've attached two charts to try and explain your very valid point. I no
1. For the DIBS setup, you are looking to take short trades when an inside bar forms below the day's open (6am GMT) and you are looking to take long trades when an inside bar forms above the day's open
2. On most of Peter's charts, the break of the first inside bar is what he seems to take (even when one or more inside bars from after that point).
3. A slight break above the inside bar does not invalidate the inside bar. Although Peter does not lay emphasis...Ignored
DislikedHi Matt,
I've attached two charts to try and explain your very valid point. I no
1. For the DIBS setup, you are looking to take short trades when an inside bar forms below the day's open (6am GMT) and you are looking to take long trades when an inside bar forms above the day's open
2. On most of Peter's charts, the break of the first inside bar is what he seems to take (even when one or more inside bars from after that point).
3. A slight break above the inside bar does not invalidate the inside bar. Although Peter does not lay emphasis...Ignored
DislikedThis is exactly why we want to go with the momentum of the day. The above Hikkake or false breaks where all against the daily momentum and then the market continued. We want to be on the continue side. If at the end of the day the market doesnt false step and it moves higher then no loss our our behalf, we just dont get a trade.
Razor
BTW this was more an answer to Matts question just using adding to your postIgnored
DislikedThis is exactly why we want to go with the momentum of the day. The above Hikkake or false breaks where all against the daily momentum and then the market continued. We want to be on the continue side. If at the end of the day the market doesnt false step and it moves higher then no loss our our behalf, we just dont get a trade.
Razor
BTW this was more an answer to Matts question just using adding to your postIgnored
DislikedI'm sure it's just a mistake, or you are a brokerbut your point 1. above is incorrect. I have pointed this out before and you managed to misinterpret PC's meaning, taking along a few other members with your interpretation.
I will post another quotation from PC which, I think, is clearer in meaning:
QUOTE:
"Thanks for the questions in such a logical order.
[i][color=Blue]1. You mentioned earlier that you only buy on up days and sell on down days. You also said that you look for entries in the first 9 hours of a trading day....Ignored
DislikedThank you for helping me out. I had the same question as FXMatt when i first started looking at the DIBS.
ZIgnored
DislikedI'm sure it's just a mistake, or you are a brokerbut your point 1. above is incorrect. I have pointed this out before and you managed to misinterpret PC's meaning, taking along a few other members with your interpretation.
I will post another quotation from PC which, I think, is clearer in meaning:
QUOTE:
"Thanks for the questions in such a logical order.
[i][color=Blue]1. You mentioned earlier that you only buy on up days and sell on down days. You also said that you look for entries in the first 9 hours of a trading day....Ignored