Inside bar strategies

I'm currently using DIBS system on the 1hr and 4hr charts with good rate of success. Anyone that uses the inside bar strategy, can you please state how you approach it and any indicator you may use in conjunction with it.

Thanks.

Quote Originally Posted by Calin125 View Post
I'm currently using DIBS system on the 1hr and 4hr charts with good rate of success. Anyone that uses the inside bar strategy, can you please state how you approach it and any indicator you may use in conjunction with it.

Thanks.
Hi Calin,

Just read your post and realise that you didn't reveive any responses. A pity indeed.

Are you still pursuing dibs? Please feel free to PM me if you are and we can share trade setups/ideas/etc.

kr,
Ayden

Hi Guys,

I don't know what "DIBS" stands for, and a quick look in Google didn't tell me, but I'm guessing something like "Daily Inside Bar Set-up"?

I trade inside bar set-ups from spot forex charts every day, anyway: it's one of my regular set-ups for major forex pairs, and is profitable overall, for me.

My method is terribly simple: in an uptrend, I enter long by buy stop 2-3 pips above the high of the mother bar; in a downtrend I enter short by sell stop 2-3 pips below the low of the mother bar.

I put the initial stop-loss 2-3 pips above/below the most recent swing-high/low.

(One could derive a take-profit target, for trading a single lot, from the ATR and/or recent S/R levels.)

I trade three lots, closing the first two at half the SL-distance plus 0.5 pips, to cover dealing costs and effectively "pay for the third lot", and then I let the third one run, adjusting its stop-loss manually above/below the most recently-formed swings high/low on the M15 chart to which I switch, having opened a trade from an M30 chart.

I have an overall Profit Factor of 1.5 - 1.7 with this method.

I don't open long trades just below recent resistance or "-00 numbers", or short trades just above recent support or "-00 numbers".

I don't trade around significant news/fundamentals announcements.

I've done a lot of backtesting, and found that this works steadily and reliably on H1 charts or anything longer. I can also make it work on M30 charts (and I do) with careful money-management and attentive trade management. I wouldn't want to trade it on any charts faster than that.

That's about it - simple, and it works for me.

Quote Originally Posted by lexys View Post
Hi Guys,

I don't know what "DIBS" stands for, and a quick look in Google didn't tell me, but I'm guessing something like "Daily Inside Bar Set-up"?

I trade inside bar set-ups from spot forex charts every day, anyway: it's one of my regular set-ups for major forex pairs, and is profitable overall, for me.

My method is terribly simple: in an uptrend, I enter long by buy stop 2-3 pips above the high of the mother bar; in a downtrend I enter short by sell stop 2-3 pips below the low of the mother bar.

I put the initial stop-loss 2-3 pips above/below the most recent swing-high/low.

(One could derive a take-profit target, for trading a single lot, from the ATR and/or recent S/R levels.)

I trade three lots, closing the first two at half the SL-distance plus 0.5 pips, to cover dealing costs and effectively "pay for the third lot", and then I let the third one run, adjusting its stop-loss manually above/below the most recently-formed swings high/low on the M15 chart to which I switch, having opened a trade from an M30 chart.

I have an overall Profit Factor of 1.5 - 1.7 with this method.

I don't open long trades just below recent resistance or "-00 numbers", or short trades just above recent support or "-00 numbers".

I don't trade around significant news/fundamentals announcements.

I've done a lot of backtesting, and found that this works steadily and reliably on H1 charts or anything longer. I can also make it work on M30 charts (and I do) with careful money-management and attentive trade management. I wouldn't want to trade it on any charts faster than that.

That's about it - simple, and it works for me.

hello Lexy

Simple and effective tactic. I m sure the result are consistent. Is there a certain pair/index you focus on?