Time Stop
Definition
A time stop is a rule that closes a trade after a set time if it hasn't reached its target or its price stop.
Detailed Explanation
Most stops are about price. A time stop is about opportunity: if a trade built on momentum or a trend goes nowhere for 30 to 45 minutes, the reason for being in it has probably gone, and your attention and capital can do something else. It also takes the emotion out of a stalled position, since the exit is decided before entry. The right length depends on the setup. A scalp may get a few minutes, while a trend pullback may get most of an hour. Time stops work alongside a price stop, and never replace one.
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