That's my point. A discretionary system by definition does not have a complete set of rules. As an example, say your system dictated a TP at 1R, which happens to be 100 pips for a given trade. A defined ruleset would say TP at 100 and if price ...

The DIBS Method... No Free Lunch continues

As you took that according to the rules... I've not got a chart in front of me so apologies if I'm wrong - but if that IB is from 10am to 11am surely it's down on the day and you're looking for shorts, not vice versa?

The DIBS Method... No Free Lunch continues

I'm guessing that's a H1 countertrend? How far would you ride it?

The DIBS Method... No Free Lunch continues

You're right, you cant automatically back-test a discretionary system. But you can manually - either by scrolling back the chart and "taking trades" as they come into view, or by buying some FX strategy testing software that allows you to trade on ...

The DIBS Method... No Free Lunch continues

Yes, IBs can indeed be traded in many different ways. A few posts back is a link to a new thread that may well give more insight into the straddle approach. As a word of encouragement I've taken a look at the 5min on GBPUSD, over the last 5 days ...

The DIBS Method... No Free Lunch continues

It's great to see such a well-thought-out answer with sound logical PA basis. By the sounds of it you wouldn't trade a Hikkake (which I believe is a 3 bar wait) unless a higher time-frame showed confirming PA. Do others have different approaches? I ...

Daily Inside Bars

Subscribed The entry criteria we all know but I'd love to start a discussion on when you consider your criteria invalidated? For instance, how many bars will you wait? Is there a maximum distance you will allow price to move before you ...

Daily Inside Bars

I think the market dynamics may be slightly different at the moment as I'm seeing a lot of sideways action on many of the weeklies as the currencies slowly shift direction this year. Because of that, booking profit is possibly a better approach in ...

The DIBS Method... No Free Lunch continues

No worries. The hot hand is used to determine which pair to buy or sell. If an inside bar prints on the USD/JPY, the GBP/JPY and the GBP/USD the "Hot Hand" filter allows you to determine which pair to trade - as you would only ideally take one of ...

The DIBS Method... No Free Lunch continues

Seeing as you feel my advice to read the original instructions was "not supportive enough", below are links to the two relevant posts. Incidentally they are posts 16 and 23 respectively so they are hardly obscure! ...

The DIBS Method... No Free Lunch continues

I'm sorry to have to correct you Basber, but there IS a thing named "Hot Hand" and it IS a part of Peter Crown's original description of the method - in fact it is an integral part of it. Before trying to start an argument I suggest you get your ...

The DIBS Method... No Free Lunch continues

Not at all, thank you for your answer!

KissFan's Trading Journal

If you don't know what the hot hand is then you haven't been back-testing DIBS but rather some method you've invented. I suggest you go back to the original thread and read the method in its entirety before trying to back-test it.

The DIBS Method... No Free Lunch continues

Hey Triger, forgive my ignorance but please could you give me a brief couple of lines explaining the PA that got you into those trades? Cheers!

KissFan's Trading Journal

BasbeR, ArE YoU TradinG ThE HoT HanD OR JusT EUR/USD?

The DIBS Method... No Free Lunch continues

Can anybody tell me why today was such a slow day in many of the markets? Was there a holiday some where? Are traders staying of the market for upcoming news that I don't know about? Is everyone risk averse and hiding their cash under the mattress??

james16 Chart Thread

Thanks Triger & Benem As always, failure to look at the bigger picture!

james16 Chart Thread

So you're saying Peter lied when he said he'd traded it profitably for over 10 years?

The DIBS Method... No Free Lunch continues

Did anyone trade the USD/CAD outside bar on Friday? And if you saw it but rejected it, what was your thoughts? Or was this just one of those losses and I should accept it as such and move on?

james16 Chart Thread

Looks like our very own Nasir Khan is doing that contest?

james16 Chart Thread