Time Stop

[Phenom]

Does any here employ the use of a time stop, especially intraday traders?

 

[osorico]

Quote from Phenom:

Does any here employ the use of a time stop, especially intraday traders?

Not time stop per-se, but I do use barcount on a fast chart for protective stop tightening.

Of course, everything depends on the expectation of the setup being taken, the nature of market at the time, and the volatility.

Osorico

 

[hypostomus]

If you think you need time stops, then you are entering during consolidations, which you have no fucking business doing.

 

[Bob111]

Quote from Phenom:

Does any here employ the use of a time stop, especially intraday traders?

sure. all my positions are closed by EOD.
make any sense?

 

[osorico]

Quote from Bob111:

sure. all my positions are closed by EOD.
make any sense?

LOL!

Damn, I should of had a V-8 instead of Vitamin Water this morn.

Cheers

 

[Phenom]

Quote from hypostomus:

If you think you need time stops, then you are entering during consolidations, which you have no fucking business doing.

There are numerous time when a trader opens a position and price action begins to consolidate. It is impossible to know when price will consolidate and that is the purpose of a time stop. For intraday traders ask yourself this, if price is near your entry point a hour from now, how good can the trade be if anyone can enter at basically the same price you entered in an hour ago.

 

[xiaodre]

Trader28 has a 10 minute time stop built into his Simple Profitable Method.

 

[hypostomus]

When you're in a trade and price enters a consolidation (as at midday), you should immediately exit. Does not apply, of course, after a big run, which is just a pause to shakeout weak hands.

 

[Spectre2007]

useful information in this post

'you have no business entering a trade in a consolidation zone'


one of the most important points for intraday traders.