I just hope we don't have to wait for the FOMC's Minutes to be release, at 2:00 p.m., before we see some momentum.
Do you guys use time stops at all? If so...how long are you in a trade before you say...to hell with it?
Normally I use an hour as a time to get out. My backtesting has shown me that using my system if I haven't hit my profit in less than an hour it's very unlikely that I will hit it.
Thanks. I usually get weirded out if it's not there in 15 minutes...in markets like this though, trading is tough anyways. Got stopped out of 2 out of the last 3 trades this week, so I'm done until we see some trending.
Yep! I like those quick hitters too. Actually I've done some, time in trade averaging, and have found that the vast majority of my full profit winners happen in 30-45 minutes.