Time stops, 3

continued from yesterday...

I checked for Time Stops in Alexander Elder’s popular book Trading for a Living: Psychology, Trading Tactics, Money Management

Didn’t find it the Index. Didn’t find it in the Table of Contents. The closest advice in the book that I could find concerning Time Stops is at page 243 where the author talks about Stop Losses in general when using his Triple Screen trading system. He says “as soon as you buy, place a stop-loss one tick below the low of the trade day or the previous day, whichever is lower…Move your stop to a break-even level as soon as the market moves in your favor…If a trade does not work out fast, it is a sign that something is fundamentally changing below the surface of the market. Then it is better to run fast…”

...cont'd tomorrow...

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