neil
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Found this "KISS" forex method which might appeal to the aspiring/experienced forex traders among you.
(Peter Crowns is an ex- floor trader)
The DIBS Method . . . No Free Lunch continues --------------------------------------------------------------------------------
This is a continuation of the DIBS Method which was started at the
No Free Lunch but all the coffee you can drink thread.
No Free Lunch but all the Free Coffee you can drink.
It is a must to read and study the above thread to be current with this thread.
This method was started by Peter Crowns and any input from him would be greatly appreciated."
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."
Attached Images
No Free Lunch but all the Free Coffee you can drink. - Page 5
The DIBS Method . . . No Free Lunch continues
Don't forget "Jacko's forex house of pleasure and pain,"..........amusing title but has a serious following of happy traders.
Jacko's Forex House of Pleasure and Pain
Enjoy:cheesy:
(Peter Crowns is an ex- floor trader)
The DIBS Method . . . No Free Lunch continues --------------------------------------------------------------------------------
This is a continuation of the DIBS Method which was started at the
No Free Lunch but all the coffee you can drink thread.
No Free Lunch but all the Free Coffee you can drink.
It is a must to read and study the above thread to be current with this thread.
This method was started by Peter Crowns and any input from him would be greatly appreciated."
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."
Attached Images
No Free Lunch but all the Free Coffee you can drink. - Page 5
The DIBS Method . . . No Free Lunch continues
Don't forget "Jacko's forex house of pleasure and pain,"..........amusing title but has a serious following of happy traders.
Jacko's Forex House of Pleasure and Pain
Enjoy:cheesy:
