I am trading a trading range breakout system (for all of one month).
Two of my trades are going very well, two are passable and one is just hovering along at $55 profit showing no signs of moving north.
I would like to pyramid into one of the winners but haven't got the capital in my account. My system doesn't have a time stop (ie bail when the thing doesn't go my way within so many bars). That's probably hurting me right now.
Who uses time based stops, and in what type of system?
Who just lets them run so long as the initial protective stop is not hit?