Time Stops for Dug

Chart Forum » Trading - Systems » Time Stops for Dug

«« Previous Next »»

Thread Start New Thread
Last Poster Posts Pages Last Post

Author

Message

007

Member

Post Number: 376
Registered: 05-2005

Rating: N/A
Votes: 0


Friday, January 12, 2007 - 08:40 pm:

Hi Duggy,

I don’t think the time stop I was referring to in Poptops thread is anywhere near as extravagant as qed’s T3 you refer to. I obviously missed that/those thread/s where mention of it was made, so I’ve no idea what you’re talking about. Nor do I reckon what I’ve got to say concerning time stops is worth an entire thread, but seeing as you’ve requested, well, double-0 is also a genie and your wish is my command.

Although I’m certain they’ve been around for yonks I got the time stop concept from Joe Ross at one of his weekly 1-hour live chat sessions. It was here I learnt that in addition to initial protective stops, time stops can also be used to further protect positions particularly against mistimed entry, and especially when trading short-term patterns/setups where the timing element is more critical. Hence, I only really use time stops for short-term patterns/setups. Joe advocates the use of a 3-bar time stop whereby if you haven’t achieved breakeven after 3 bars have printed on the chart from the time of entry, you exit the trade.

With regard to my own use of the word “stops” my internet service broker doesn’t provide mechanical stops, nor have I searched for one that does, all my stops are performed manually, and I’m more than happy to keep it that way for now provided my current broker keeps the fees low.

Well that's about it, I've covered what once seemed tricky in three short paragraphs. How's that?

Regards

lafee

Member

Post Number: 268
Registered: 04-2003

Rating: N/A
Votes: 0


Friday, January 12, 2007 - 09:26 pm:

007,

I cannot express strongly enough in favour of time based stops for short term pattern. I have no idea of your dispute with Dug about the matter. To be honest I don't really care. What I do know is that trades that work best tend to work straight away and that the more time that passes the more likely the market will focus on something other than the reason you made the trade on in the first place. Every trade I make has a time based stop and I cannot express strongly enough how much difference it has made to my bottom line.

Cheers

Lafee
ps. 85% of my trades last less than 5 days.

If nobody can be certain of anything, how can I be certain of that?

Ayn Rand

When I was young people called me a gambler. As the scale of my operations increased, I became known as a speculator. Now I am called a banker. But I have been doing the same thing all the time.

Ernest Cassel

"My major hobby is teasing people who take themselves & the quality of their knowledge too seriously & those who don’t have the guts to sometimes say: I don’t know...." (You may not be able to change the world but can at least get some entertainment & make a living out of the epistemic arrogance of the human race).

Nassim Nicholas Taleb

dug

Member

Post Number: 2021
Registered: 07-2005

Rating: N/A
Votes: 0


Saturday, January 13, 2007 - 10:04 am:

So that's it,007.Makes sense.Lafee I'm not ALWAYS in dispute,more often than nix,I'm stirring for infomation,some stimulation.I'm a pretty jaded pilgrim in the Stock Market.

Anyway 007,my reference to T3 was simply based on the 3 day to settlement method supposedly by report done by some day traders where they HAVE to buy and sell within 3 days.Must have Short Attention Span syndrome,hey?

So as usual with newspapers they probably misinterpreted your Joe Ross bit.The reporters usually bring it up when a Halt is declared that runs past 3 days from Significant Action.

I can see the rationale behind If you bought it expecting an event,and it don't pretty much unfold quickly,the probability is you've jumped the gun,entered early,jumped d'gun,got it wrong,misinterpreted etc.

I'll get back to you,007 but it's a pity you used my tag in d'Title but at least one of my d'tractors came in with his point.

regards 00.

Dig for the sake of it.

shah_ji

Member

Post Number: 1
Registered: 06-2007

Rating: N/A
Votes: 0


Thursday, June 07, 2007 - 02:07 am:

i want 2 do demo trading but i have no access on my home PC....
i couldnt b able to down load online trading plate form y? even i have deleted my history and all cookies and pop ups .....kindly guide me...
regards