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New york and Asian boxes vs DTB signals

Posted: Fri Apr 23, 2010 2:38 pm
by Leviathan
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.

Posted: Fri Apr 23, 2010 6:07 pm
by Leviathan
I think I stumbled across the answer to my own question in the NLA thread. When a 3 sema pops, expect it to keep pushing around 20+ pips. TP1 on the boxes is 15 pips, so that's probably how/why I was doing so well until the last 2 days...the semas poped without me noticing it on the other charts (didn't have the charts up until this week) and it pushed onward like it usually does.

Damn, was doing really well too considering I'm a noob. Made 20% in 2 weeks using 15 pip SL's and 2% risk. I'm still ahead almost $1000 so I guess I should just keep at it.