Time

They don't call me oldtime just because I am old

Anybody else out there working with time?

For instance, how long it takes you to get hit

Too long, you tighten up the time, not the price

Too soon, you widen the time

But you do it all with price

 

it all started when I guess I was doing ok in forex

but sometimes I was trading every 20 seconds

and other times I was only trading once every few days

all based on price

so I just set the whole thing up in a paper account, with no regard to money

and suddenly, I wasn't trading on price

I was trading on time

Haven't actually done it with real money yet

but that's the good thing about et

no matter what idea you come up with

somebody else has already tried it, and can tell you how it will go

 

so for instance, in my case, I don't use stops, but I do add to winners and losers

and when you are adding quicker than usual

in otherwords, time

you can adjust, to keep your money management in tune

by using price to adjust time

(and yes, I'm a pothead, and only smoke when I'm flat, and just happen to be flat at the moment, after a very profitable day I might add)

It goes back to my dream of a strategy that evolves over time

not based on price

but how quickly or slowly things change

 

There is the idea that Mandelbrot talked about relating to price action and time....

 

yeah well, I know it means a hell of a lot more to you option traders than it does to me

the point I was getting to is

the regular occurring of instances

measured by time

rather than the values

 

sooo.... this might not even be what you are talking about but... if you have a rate of change on the increase should you not adjust your position . because inessense time is speeding up.. if you considered price action a function of time..... direction changes yes.. but the rate is the same if scaled to time.. if you take a fast market .. slow it down.. it looks very similar to a slow market.. and vice versa.. i heard a guy talking about increasing position size in slow trading and decreasing it in fast markets.. basically your using the same position size adjusted to a scaled time..

 

yes, that's exactly what I am talking about

mathematicians have explained this to me many times

it's always better to put it all on with a stop

but I can only lose 100% one time

so I have to be more careful

but to put it in laymen's terms, you adjust by how often your limits are getting hit

so if you are a one hour trader, and your limits are getting hit every minute, you need to widen up

 

i've heard of guys just generally putting time stops on trades to... just a little more logic... if this and if this then stop out...

 

two things have screwed me up more than you can imagine

one was trailing stops

the other was time stops

and I've used them both ways

to stop a loss and to add to a winner

and both of them just totaly screwed me

but wouldn't it be nice if it was just that simple?

 

the only thing that works for me.. is trading in times of long movements.. haha anything inbetween i can't trade.