zupcon
Experienced member
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I know its just spam... and I know I should know better but...
Is it just me, or do other people get equally annoyed reading comments such as
"Murphy's Law dictates that the longer an intraday trade lingers in a never-never land between a profitable exit signal and the stop loss, then the more likely it is that the position will produce a loss"
Either this statement is true for a given set up, or it isnt, but either way, surely the author should be able to provide a more definative definition, i.e "research indicates that X% of all trades that linger in never never land for a period greater than Y produce an average loss of Z"
Is it just me, or do other people get equally annoyed reading comments such as
"Murphy's Law dictates that the longer an intraday trade lingers in a never-never land between a profitable exit signal and the stop loss, then the more likely it is that the position will produce a loss"
Either this statement is true for a given set up, or it isnt, but either way, surely the author should be able to provide a more definative definition, i.e "research indicates that X% of all trades that linger in never never land for a period greater than Y produce an average loss of Z"
Crap Buddist
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Hey Joe,
I dont like time stops ! if I remove myself from time, then ask "when should I stop a trade ? "
"If one is long the price in a rising price direction when should one stop his trade !? "
Discretionary traders have a love of trading, system traders have a love of money.
Now what about , ok any trader needs to find themsleves, identifying the traders role in the market place, his or her level of intention of their way to trade. Its like finding the way to god.
System traders = swing away, who cares,time important.
Discretionary traders= They care. Time not important.
So yes tic toc time might be as good as reason of any to "stop a trade" for a system trader. But discretionary traders ? If thats a reason for them to think about getting out then I think they should think a lot deeper about getting in, in the first place. Which reminds me..
If I'm pumping my next door neighbours dog should I stop just because 3 minutes have lapsed ? NO ! the time to stop is when old "Sparky's" ears prick up and we are both wailing like a pair of Banshee's!
Hope your keeping well Joe.
I dont like time stops ! if I remove myself from time, then ask "when should I stop a trade ? "
"If one is long the price in a rising price direction when should one stop his trade !? "
Discretionary traders have a love of trading, system traders have a love of money.
Now what about , ok any trader needs to find themsleves, identifying the traders role in the market place, his or her level of intention of their way to trade. Its like finding the way to god.
System traders = swing away, who cares,time important.
Discretionary traders= They care. Time not important.
So yes tic toc time might be as good as reason of any to "stop a trade" for a system trader. But discretionary traders ? If thats a reason for them to think about getting out then I think they should think a lot deeper about getting in, in the first place. Which reminds me..
If I'm pumping my next door neighbours dog should I stop just because 3 minutes have lapsed ? NO ! the time to stop is when old "Sparky's" ears prick up and we are both wailing like a pair of Banshee's!
Hope your keeping well Joe.
Is this you, or a paraphrase from somwhere else?
And as for 3 minutes?!... yeah yeah, whatever you say pal 😉
Crap Buddist
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Hmm so whats the standing with time stops? This popped into my head...
Trade what you see, not whats on your wristwatch, but whats going on in the market. 👍
Crap Buddist
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Yeah its 100% me Mr Gecko . I sat and thought about it ,as the question was asked in a thread here, I reached within for a definitive , so I could put it to bed, for myself I think. 👍
And as for time stops, well... I don't see how they are all that different to regular stops TBH.
I place my stops such that they will protect me if what I thought to be true is not, and to help clearly define the conditions of what I consider being "right" about a price move (I don't use stop orders for exits). Usually, this is clearly defined by price moving through some level I have identified beforehand. But what if a particular time plays a role in defining some conditions that I believe will produce a likely set of events? say, for example, that I think the price of crude will fall until the US session opens; or that I want to close out a Forex position for the weekend... I may place time stops to close @ market at the appropriate times.
...In this regard, I have included time as a condition that defines the opportunity, not just price (price has to be there, because you can't say "short if 4pm doesn't arrive"). And I think most of us do it anyway, without really realising (e.g. GTD and GTC stop orders for entry).
I place my stops such that they will protect me if what I thought to be true is not, and to help clearly define the conditions of what I consider being "right" about a price move (I don't use stop orders for exits). Usually, this is clearly defined by price moving through some level I have identified beforehand. But what if a particular time plays a role in defining some conditions that I believe will produce a likely set of events? say, for example, that I think the price of crude will fall until the US session opens; or that I want to close out a Forex position for the weekend... I may place time stops to close @ market at the appropriate times.
...In this regard, I have included time as a condition that defines the opportunity, not just price (price has to be there, because you can't say "short if 4pm doesn't arrive"). And I think most of us do it anyway, without really realising (e.g. GTD and GTC stop orders for entry).
well, it's fightin' talk, but i like it.
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