New york and Asian boxes vs DTB signals
Posted: Fri Apr 23, 2010 2:38 pm
Asian and NY box have been doing really great for me the past 2 weeks. However, the past 2 days have been causing me all kinds of grief. Maybe it's my own fault...I've been scalping the boxes instead of using the SL suggested by the indicator. I've been setting a SL of 15, and as soon as the price broke out of the box, I'd go for TP1, or higher if things looked good, risking 2% on each trade.
I started with 10k. After 8 days of trading, I was at 12K. Last night and today however, I've lost nearly $650. I kept wondering why EUR and GPB were retracing on me so badly to cause this....so I switched over to my DTB charts.
Low and behold, DTB is firing off lvl 3 semaphores on the edge of the boxes the past couple of days. Is it really logical for the box to suggest that the sema will essentially repaint from 15-45+ pips? Or is this something that usually doesn't happen and I missed the signs? I'm starting to think that the boxes are actually occuring with a daily high (or low) on one edge, and if the price takes a run at it, I am in danger of a retrace. Is my thinking correct?
Thankfully DTB has been recouping my losses today so I'm repairing the damage.
I started with 10k. After 8 days of trading, I was at 12K. Last night and today however, I've lost nearly $650. I kept wondering why EUR and GPB were retracing on me so badly to cause this....so I switched over to my DTB charts.
Low and behold, DTB is firing off lvl 3 semaphores on the edge of the boxes the past couple of days. Is it really logical for the box to suggest that the sema will essentially repaint from 15-45+ pips? Or is this something that usually doesn't happen and I missed the signs? I'm starting to think that the boxes are actually occuring with a daily high (or low) on one edge, and if the price takes a run at it, I am in danger of a retrace. Is my thinking correct?
Thankfully DTB has been recouping my losses today so I'm repairing the damage.