Dibs Trading System is a forex trading system. It is a simple and very reliable forex trading system. Dibs Trading System is easy to understand to any layman forex trader. The fewer technical indicators used in this forex trading system have contributed to its simplicity. You should understand the fact that a system necessarily doesn’t need to be very advanced to make money in the forex trading business. A simple system with well defined rules is what it takes to make money out of any forex trading system. The trading system and trader’s ability to use the system is two completely different things. In another words, system alone can’t help you make a consistent forex trader if the problem lies in your head. The way you think of trading, your perceptions regarding the market, and your attitudes matters a lot in trading. These factors tend to have significant impact in your trading result. If you have a good system in your hand but if you are negative attitude type person, you might have difficulties in making money in the market.
When talking about Dibs Trading System, it consists of three technical indicators in the main chart window and an indicator in the indicator window. When Dibs Trading System is correctly installed on your metatrader, your chart should look like this:
- Dibs V1.0
This indicator is a pink horizontal line that you can see in the main chart window. These horizontal lines work as support and resistance levels. Our buying and selling signals are mainly generated on the basis of these horizontal lines.
- 200 SMA
200 SMA used in this trading system helps us to define the long term trend of the market. The moving average is applied to high. Basically, you should be buying when the market is above this moving average and vice versa.
- CCI IOO
This indicator consists of histogram that fluctuates in positive and negative territory. You should be buying only when the histogram is in positive territory and vice versa.
Buying Conditions Using Dibs Trading System.
- Price should be above the 200 SMA.
- Price should be above the Dibs V1.0.
- Histogram should be in positive territory.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the histogram moves in to the negative territory.
Selling Conditions Using Dibs Trading System.
- Price should be below the 200 SMA.
- Price should be below the Dibs V1.0.
- Histogram should be in negative territory.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the histogram moves in to the positive
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