Does anyone here use time stops?
By that I mean exiting a trade that either immediatley goes into consolidation or one that goes into consolidation after moving in your favor or not.
....1) Do you feel, after an extended perod of little movement, that your capital could be used better elsewhere?
....2) Do you feel at some point your analysis is no longer valid?
....3) If you use time stops, do you have a firm rule that you apply without question? Such as:
.........a. number of candles elapsed?
.........b. give weight to time of day, or day of week?
Obviously there are many variable such as timeframes, rangebound or trending conditions.
Do you use time stops in every condition, or use them in some but not others?
If you use time stops let us know how you apply them. There is no right or wrong answer.
Thanks
Bill
By that I mean exiting a trade that either immediatley goes into consolidation or one that goes into consolidation after moving in your favor or not.
....1) Do you feel, after an extended perod of little movement, that your capital could be used better elsewhere?
....2) Do you feel at some point your analysis is no longer valid?
....3) If you use time stops, do you have a firm rule that you apply without question? Such as:
.........a. number of candles elapsed?
.........b. give weight to time of day, or day of week?
Obviously there are many variable such as timeframes, rangebound or trending conditions.
Do you use time stops in every condition, or use them in some but not others?
If you use time stops let us know how you apply them. There is no right or wrong answer.
Thanks
Bill