Want to set both your in and out points for a layer? This can easily be accomplished in the Timeline Window.
Place the Current Time indicator at the desired time.
To set the Time In, press the [ (left bracket ) key. This will move the in-point to the Current Time indicator. If you'd like to trim earlier material, press Option+[ (Alt+[ ) to Time Trim the in point.
Move the Current Time indicator to the desired end time.
To set the Time Trim for the out point, press Option+] (Alt+]).