I went Short on UJ and EJ. Could have gone Short on GJ as well but left ithis pair out because: (i) Spread on GJ is high for my broker. (ii) Based on DIBS (using 00:00 GMT as day's opening for JPY pairs), we should Short all 3 JPY pairs of UJ, EJ ...

The DIBS Method... No Free Lunch continues

Sincere appreciation to all who have advised. Especially daytrading who has shared PeterCrown's views. Thanks!

The DIBS Method... No Free Lunch continues

I have consistently asked myself how strictly should we follow one of PeterCrown's rules: Go Long if the break of the IB is above the day's opening price, and go Short if the break of the IB is below the day's opening price. If we apply the above ...

The DIBS Method... No Free Lunch continues

Glancing through my broker's charts, I saw IBs formed at 1300 GMT on following major pairs: AJ, EU, GC, GJ, GU, UJ & CJ. Perhaps big players were waiting for report on Michigan Consumer Sentiment Index before reacting accordingly. People who then ...

The DIBS Method... No Free Lunch continues

Short U/C. Too bad did not enter position on E/U. Seems EUR strength is the reason behind this morning's moves. And I do remember PeterCrown mentioning to "Buy on strength, sell on weakness".

No Free Lunch but all the Free Coffee you can drink

PeterCrowns recommends that we treat start of day at 06:00GMT and to pay more attention to IBs formed in first 6-9 hours of the day, and he has explained clearly the basis for his recommendation. But when we say "we pay more attention to first 6-9 ...

No Free Lunch but all the Free Coffee you can drink

Thanks for clarification! P.S. Just curious, if the market reverses direction again (for example, EU going up again), then do we enter another Long EU position based on the break of the IB, once again?

No Free Lunch but all the Free Coffee you can drink

Just to clarify: Based on DIBS, are we supposed to take positions as follows: Short EU and Long UC now, based on the break of their respective IBs?

No Free Lunch but all the Free Coffee you can drink

I was really tempted to take positions in EU (Long) and UC (Short) because IBs formed at 05:00 GMT. But didn't do so in the end as I thought such moves would be jumping the gun. Regret it now.

No Free Lunch but all the Free Coffee you can drink

This USDCHF IB formed at 05:00GMT, the 'last' bar for 'previous day', before start of today's session at 06:00GMT. Aren't we supposed to pay particular attention only to IBs (particularly the first 6-9 hours) formed after today's session has ...

No Free Lunch but all the Free Coffee you can drink

Took positions in EURUSD and USDCHF, and both went well. Only regret was to close the positions with profit instead of letting the "profits run". Regards.

No Free Lunch but all the Free Coffee you can drink

GBPJPY — Used IB formed at 00:00GMT to enter position. S/L hit.

No Free Lunch but all the Free Coffee you can drink

Hi, Thanks for correction. I have posted new chart images with with opening prices in red line. So we would not taken the Long trade (which would have resulted in it being Stopped Out with a loss) in the case of AUDUSD because the price was below ...

No Free Lunch but all the Free Coffee you can drink

Newbie question - again — Another newbie question. Is there a "validity period" to an Inside Bar (IB)? - Let's say the bar from 09:00 to 10:00GMT is an IB. - The next bar goes below low of the IB, resulting in a Short trade. - Then the next 4 ...

No Free Lunch but all the Free Coffee you can drink

By the way, in case anyone wonders, following are timings of the two candlesticks pointed by the red arrows: - AUDUSD: 08:00GMT - EURUSD: 09:00GMT Regards.

No Free Lunch but all the Free Coffee you can drink

I am attaching another chart of EURUSD. Can I confirm that the red arrow correctly points to an Inside Bar for for this method? Regards.

No Free Lunch but all the Free Coffee you can drink

AUDUSD — I am attaching a chart of AUDUSD. Can I confirm that: - The red arrow correctly points to an Inside Bar which could have resulted in one Long trade and one Short trade? - The Long trade, if taken, would have been Stopped Out. I am ...

No Free Lunch but all the Free Coffee you can drink

Newbie question — Hi all, I have read through the thread a few times to try make sure I correctly understand DIBS. Unfortunately, I have probably missed out certain things because I am still not entirely clear of the method. Hence, I hope ...

No Free Lunch but all the Free Coffee you can drink

Thanks to Clouds and Rabid for being so helpful! I was giving an illustration trying to confirm I have understood the concept correctly. I knew you were not recommending anything :-). I will attempt to summarise what Clouds and Rabid have written. ...

Aussie Pairs

Hi, thanks for advice :-). To confirm that I have understood the concept correctly, do you mean that if I want to trade AUDJPY, then I should go Long when both AUDUSD and USDJPY are rising, or go Short when both AUDUSD and USDJPY are dropping? But ...

Aussie Pairs