{"id":42507,"date":"2015-08-23T07:52:38","date_gmt":"2015-08-23T14:52:38","guid":{"rendered":"https:\/\/brookstradingcourse.com\/?p=42507"},"modified":"2015-08-23T07:56:58","modified_gmt":"2015-08-23T14:56:58","slug":"time-stops-al-brooks-approach","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/ask-al\/time-stops-al-brooks-approach\/","title":{"rendered":"Ask Al: Time stops — Al’s approach"},"content":{"rendered":"

BPA trading room Q&A: June 1, 2015<\/h2>\n

I analyzed my trades and found out most of my profits were from trades that took less than 10 minutes to complete. So I\u2019m wondering if a time stop could help me. Do you think time stops are useful in positions \u2014 in addition to price actions stops?<\/p>\n

Audio duration: 1min 35sec
\n <\/em><\/p>\n

 <\/p>\n

Audio transcript<\/h2>\n

Time stops — different approaches<\/h3>\n

\"Time<\/p>\n

In a way, you hear me talk about time stops, but I don\u2019t use the phrase \u201ctime stop.\u201d I\u2019ll say something like, \u201cOkay, I just took a trade. I am disappointed by the entry bar. I\u2019m disappointed by the follow through. And now, two to three follow through bars later, I\u2019m still disappointed. This trade is not working out the way I thought it was going to work out, therefore, I\u2019m going to get out breakeven. Maybe I can make a tick or two, maybe I\u2019ll lose a tick or two.\u201d<\/p>\n

So in that sense, I use time stops. If I take a trade expecting something and something else happens — for example, the market enters a tight trading range, and I was not expecting that, I thought that was a lower probability outcome — I just get out. So effectively, that is a time stop.<\/p>\n

But that\u2019s the only way I use time stops. I know some traders use a fixed time limit<\/a>. Like, they\u2019ll say, \u201cOkay, I\u2019m going to put a bracket order. I\u2019ll buy here and I\u2019ll place an order to sell 4 points higher, and a stop order 4 points lower But I\u2019ll also get out in 30 minutes if neither of my orders are filled.\u201d And the math is probably okay, but to me, I don\u2019t like being too rigid, and I prefer to use stops based upon movement.<\/p>\n

So I guess you could argue it\u2019s the lack of movement, and that therefore, it\u2019s a type of movement that I personally never get out on a fixed hard time stop — like I\u2019m going to get out 30 minutes after I get in — whether or not I have a profit. If the premise is still valid, a lot of times I\u2019ll hold. If the premise is no longer valid, especially if it\u2019s entering a tight trading range, I\u2019ll just get out.<\/p>\n

Al Brooks<\/em><\/p>\n

Information on Al’s Online day trading room<\/a><\/p>\n

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BPA trading room Q&A: June 1, 2015 I analyzed my trades and found out most of my profits were from trades that took less than 10 minutes to complete. So I\u2019m wondering if a time stop could help me. Do you think time stops are useful in positions \u2014 in addition to price actions stops? […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[159],"tags":[],"class_list":{"0":"post-42507","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-ask-al","7":"entry","8":"has-post-thumbnail","9":"override"},"featured_image_src":null,"author_info":{"display_name":"BTC Admin","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/richardhk\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/42507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=42507"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/42507\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=42507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=42507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=42507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}