Strategy on trading insider bars?

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PINKPANTHER5
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Strategy on trading insider bars?

Postby PINKPANTHER5 » Thu Apr 23, 2009 1:25 pm

Insider bars look very profitable since you dont care which way the market goes before you enter the trade, but I suppose you dont just blindly put a buy entry and sell just by looking at the insider bar. Do you have to check the candle colors on higher time frames or trends?

I've heard people who said they have had real success with this, but it appears to have too many fakeouts which trap you in both positions. Any ideas??



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TheRumpledOne
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Postby TheRumpledOne » Thu Apr 23, 2009 10:01 pm

I use the H1 chart to determine inside bar trades.

DIBS uses the London session open to establish a daily bias and only takes trades with the bias.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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PINKPANTHER5
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Postby PINKPANTHER5 » Fri Apr 24, 2009 1:44 am

Thanks for the reply,

Do you use the DIBS method? If you are trading insider bars, is there something else you look at before just placing buy and sell orders on the insider bar? Just curious because there have been so many fakeouts. I must be doing something wrong


thanks

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Postby TheRumpledOne » Fri Apr 24, 2009 8:16 pm

This is TRADING... ANYTHING CAN HAPPEN!!

You either take the trade or you don't.

Sometimes you win.

Sometimes you lose.

It's that simple.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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