There are no shortage of turn key timer solutions out there. You can likely hack a digital stop watch or look at some of the many Pinewood Derby timer solutions along the lines of
similar to this one.
However, if you choose the DIY method to build your own there are a few things (terms) you need to get familiar with as they apply to counters and timers.
Hi I am new to the forum and was wondering if there would be someone that would be willing to help me build an electronic timer that is accurate to 1000 ths of a sec?
That is sort of an open statement. What you seem to want is a display that can resolve down to three places to the right of the decimal. That is more a matter of resolution than accuracy. Resolution being along the lines of the ability to read an instrument or of the instrument to be read. It says nothing of the accuracy or uncertainty. The fact that the timer in this case can display 3 places to the right of the decimal point simply means it can display out to .001 second but nothing about how accurate the numbers will be.
The quote you used from another forum or that you found online:
I plan on using a temperature compensated crystal oscillator using a frequency of 1mhz, and dividing it down to 100hz. I would use a 555 timer circuit for the clock generator, but unfortunately they are too inaccurate for this purpose. The crystal oscillator is accurate to +/-1ppm, so out of 1 million pulses in a second, it might miss one pulse. I can live with that kind of accuracy. The clock generator signal will not start until after the start button is pushed. Once the timer starts, it will be directed into a Counter/Display driver, which uses a 4 digit 7 segment LED display. Four digits will get me 0.000-9.999 seconds. The laser module will be set at the finish line, opposite an enclosed photodetector circuit. When the beam is broken, the counter will stop, leaving the finished time displayed on the main box.
Note the mention of PPM (Parts Per Million) which defines the accuracy or uncertainty of the oscillator. Actually it could be a drift rate from a nominal of 1.000000 MHz but we won't worry about that. One PPM works out to be ± .00010% or at 1.000000 MHz ± 1 Hz which is pretty good for most applications. If I resolve out to 3 places that 1 Hz won' t amount to anything. If I resolve out six places .000000 it would only amount to ± 1 count in the last place.
Now if I were to build a counter to have a resolution of .001 second I would not even think about considering the 555 in an astable mode as a clock. Here is why. If we read the data sheet for the 555 timer IC which
can be found here. We will see that using it in an astable mode as a clock oscillator has an allowable error of 2.25% or expressed in PPM about 22,000 PPM. The allowable drift rate is 150 PPM per degree C of temperature change. Actually pretty lousy specifications if you want to do somewhat accurate measurements of time resolving out to .001 second. Another option was using a 32.768kHz crystal oscillator and using binary division to get the frequency down. This will not work well or easy either. The reason is if we begin to divide 32,768 Hz down using divide by 2 functions we get 16,384, 8,192, 4,096, 2,048, 1,024, 512, 256, 128, 64, 32, 16, 8, 4, 2, and last but not least 1. The 1 being a very nice 1 second time base but not what I want. I want a 1 KHz ( .001 second time base). One second is nice for my watch but not what I want for my timer.
So what to do? I buy
one of these little oscillators for literally less than $3.00 USD. Then I use some divide by ten counters like the CD4017 to divide my 1 MHz clock down 1,000,000, 100,000, 10,000, 1,000 and I have my pretty accurate 1 KHz (.001 second) clock. Using one of these has some nice features, I get pretty good accuracy but I also get a nice gate thrown in. I can apply a simple signal to Pin 1 to open or close my clock gate. Open the gate and my 1 KHz pulses are counted, close the gate and they stop. The open and close become the Start / Stop for my counter.
Overall, hack a stopwatch!
Ron