Bila seorang masta muncul di FF (Kilang Forex) ; maka aku akan pastikan untuk membaca semua post mereka; kerana mereka bercakap berdasarkan pengalaman dan bukannya teori yang terdapat dalam buku dsb. Recently seorang Masta lagi muncul.. sekarang dia dah tak post sebab tak puas hati dengan mereka yang berforum secara tidak profesional. Namun beliau sempat memberi ilmu yang penting...
Summary of DIBS
Opening Time:
" I use 00.00 EST or 06.00 GMT as my open".
What's an Inside Bar (Candle)?
A bar with a High that is lower than the previous bar's High and a Low that is higher than the previous bar's Low. A strict definition for Trading DIBS Method is that an IB cannot exceeds the bounds of previous bar. Meaning that a top and/or bottom (High/or Low) can be equal to previous bar.
IB on which hour?
You want to particularly interested in the inside bar breakouts which meet the conditions early in the session, namely the first 9-10 hrs.
Where to put the Buy and where to put the Sell?
First Rule: We buy on a break of an IB if the price is above the daily open and sell if it's below. We will put Buy/Sell 1 pip outside the IB range and remember to add the spread.
Example: IB range is high @ 1.5500 and low @ 1.5400. Buystop: 1.5501 + spread, SL 1.5399, BE 1.5603 + spread. Sellstop: 1.5399, SL 1.5501 + spread, BE 1.5297. (chart to follow)
What is the TP?
We are looking to exit half of our position at 1:1. which means that once you're up the amount of pips which equals the amount of pips you're risking (IB Range + 2 (1 up and 1 down for breakout) + spread) then you close half your position. Do not remove the SL on the remaining 1/2. This is your "Free Ride" Trade and if after this prices come back and takes you out. You haven't lost anything.
What if an IB has it’s high above the daily open and it’s low below the daily open?
Then you take the break that occurs, if it breaks to the downside then sell and vice versa.
2, 3 or more IB’s in a row – which one to take?
I would take the first one which is the largest just to be on the sure side.
How to avoid losses?
If you look to ask this question then you’ll have to start all over again! Read PC’s posts.
Peter Crowns:
".... buying breakouts of inside hourly bars if the prices are "up" on the day, and selling downside breakouts of inside hourly bars if the prices are "down" on the day. These types of trades are simple, low-risk and potentially high reward. The only problem is you do have to be conscious when they happen so you can take the trade!.... "
"....What I like about these simple trades is the tendency to be able to cover your risk quickly by exiting half of your position at 1:1, allowing you to hold the remaining position with the initial stop (the other side of the inside bar) as a virtual "free trade".....
"I've found 'elegantly simple' in trading is best...."
"Simple works in the markets, because they are very simple. Most traders complicate things incredibly. Because their minds probably can't handle the truth yet that the markets basically feed where the orders are."
".....Win rate is not the most important factor in finding a good trading method. Profit potential/risk is."
"the best trades for us are the ones that don't give you ANY retracement after the breakout"
"The trade is simple and perverse at the same time. It also gives some of the best risk/reward trades possible and always ensures that you are with the daily trend. If you are also in tune with the weekly and monthly trends is when it gets exciting!"
The DIBS method is one of the surest "unknown" methods available for making money in Forex. I wish I had invented it. Having traded the concept personally for more than 15 years, I know how good and also how irritating it can be. As you mentioned, trading during the active hours is key to the best trades. It is hard to beat the combination of low risk and high probability. Yet it stays in obscurity, which is the way of all good methods."
Details Click Here
Summary of DIBS
Opening Time:
" I use 00.00 EST or 06.00 GMT as my open".
What's an Inside Bar (Candle)?
A bar with a High that is lower than the previous bar's High and a Low that is higher than the previous bar's Low. A strict definition for Trading DIBS Method is that an IB cannot exceeds the bounds of previous bar. Meaning that a top and/or bottom (High/or Low) can be equal to previous bar.
IB on which hour?
You want to particularly interested in the inside bar breakouts which meet the conditions early in the session, namely the first 9-10 hrs.
Where to put the Buy and where to put the Sell?
First Rule: We buy on a break of an IB if the price is above the daily open and sell if it's below. We will put Buy/Sell 1 pip outside the IB range and remember to add the spread.
Example: IB range is high @ 1.5500 and low @ 1.5400. Buystop: 1.5501 + spread, SL 1.5399, BE 1.5603 + spread. Sellstop: 1.5399, SL 1.5501 + spread, BE 1.5297. (chart to follow)
What is the TP?
We are looking to exit half of our position at 1:1. which means that once you're up the amount of pips which equals the amount of pips you're risking (IB Range + 2 (1 up and 1 down for breakout) + spread) then you close half your position. Do not remove the SL on the remaining 1/2. This is your "Free Ride" Trade and if after this prices come back and takes you out. You haven't lost anything.
What if an IB has it’s high above the daily open and it’s low below the daily open?
Then you take the break that occurs, if it breaks to the downside then sell and vice versa.
2, 3 or more IB’s in a row – which one to take?
I would take the first one which is the largest just to be on the sure side.
How to avoid losses?
If you look to ask this question then you’ll have to start all over again! Read PC’s posts.
Peter Crowns:
".... buying breakouts of inside hourly bars if the prices are "up" on the day, and selling downside breakouts of inside hourly bars if the prices are "down" on the day. These types of trades are simple, low-risk and potentially high reward. The only problem is you do have to be conscious when they happen so you can take the trade!.... "
"....What I like about these simple trades is the tendency to be able to cover your risk quickly by exiting half of your position at 1:1, allowing you to hold the remaining position with the initial stop (the other side of the inside bar) as a virtual "free trade".....
"I've found 'elegantly simple' in trading is best...."
"Simple works in the markets, because they are very simple. Most traders complicate things incredibly. Because their minds probably can't handle the truth yet that the markets basically feed where the orders are."
".....Win rate is not the most important factor in finding a good trading method. Profit potential/risk is."
"the best trades for us are the ones that don't give you ANY retracement after the breakout"
"The trade is simple and perverse at the same time. It also gives some of the best risk/reward trades possible and always ensures that you are with the daily trend. If you are also in tune with the weekly and monthly trends is when it gets exciting!"
The DIBS method is one of the surest "unknown" methods available for making money in Forex. I wish I had invented it. Having traded the concept personally for more than 15 years, I know how good and also how irritating it can be. As you mentioned, trading during the active hours is key to the best trades. It is hard to beat the combination of low risk and high probability. Yet it stays in obscurity, which is the way of all good methods."
Details Click Here
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