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Strategy on trading insider bars?

Posted: Thu Apr 23, 2009 1:25 pm
by PINKPANTHER5
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??



:idea:
:roll:

Posted: Thu Apr 23, 2009 10:01 pm
by TheRumpledOne
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.

Posted: Fri Apr 24, 2009 1:44 am
by PINKPANTHER5
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

Posted: Fri Apr 24, 2009 8:16 pm
by TheRumpledOne
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.