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I work with multiple charts in a single layout (Ensign) or workspace
(SuperCharts). The positioning less important than the ordering. The bigger
time frames provide the roadmap so I consult them first for perspective then
drill down into the detail. In SC which I use for position trading and
investment work I check the monthly and weekly charts on a weekly basis and
daily on a daily basis. In Ensign, which I use for day trading the S&P, I
review my daily and 30 min charts at the start of the day and then move down
to 5 min and 1 min for trading. When my 1 min has moved a bit I check back
to the 5 and when the 5 has moved I check back to the 30 min. Generally I
pick the direction in which I want to trade from the 5 and 30 and use the 1
for entry. I stick with the 1 until it moves against me, and I get out, or
it moves well away from my entry. If it continues as planned, I move to the
5 minute while it's trending and use targets on the 5 and 30 to exit.
Earl
-----Original Message-----
From: Steven Buss <sbuss@xxxxxxxxxxx>
To: eadamy@xxxxxxxxxx <eadamy@xxxxxxxxxx>; RealTraders Discussion Group
<realtraders@xxxxxxxxxxxxxx>
Date: Wednesday, November 11, 1998 7:44 PM
Subject: Re: Multiple Time Frame Question
>Getting practical for a moment about multiple timeframes.....
>
>Take for granted familiarity with the concepts of "tide", "wave", "ripple"
>as described by Elder, et al, even if one disagrees about the indicators to
>be used for them....
>
>Also, take for granted Earl's point below, which it took me awhile to
>get....
>
>.....What are the various ways that folks have found it useful to POSITION
>the various timeframe bars and associated indicators on the screen.
>
>I've tried:
>
>- ripple bars at the top, wave bars in the middle, and tide bars at the
>bottom within a single TS workspace chart. Indicators were positioned just
>below the bars. (This was before I got the point Earl makes below.) This
>doesn't work very well because there isn't enough horizontal space for the
>larger timeframe bars to set context.
>
>- Most recently I've been putting a single timeframe within a TS chart
>within a single workspace. This is better but harder to follow. And I'm
>only looking at a single symbol.
>
>- I've thought about the need for multiple monitors. This would help
>alot. But then I'd have to think again about symbol/indicator timeframe
bar
>positioning.
>
>What do you think?.....
>
>Steven Buss
>Walnut Creek, CA
>sbuss@xxxxxxxxxxx
>
>-----Original Message-----
>From: Earl Adamy <eadamy@xxxxxxxxxx>
>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>Date: Wednesday, November 11, 1998 6:02 PM
>Subject: Re: Multiple Time Frame Question
>
>
>>If you run a 1 minute chart with 10 period ma, and then throw on a 50 pma
>>and a 300 pma you're still looking at a microcosm of data. I don't care
how
>>long and hard you look at it, you will never get the larger picture which
>>you will see looking at a 5 min chart with 10 pma and a 30 min chart with
>10
>>pma. If you trade daily, you should be looking at weekly and monthly
charts
>>to get the larger picture.
>>
>>Earl
>>
>>-----Original Message-----
>>From: Philip Schmitz <pschmi02@xxxxxxxxxxx>
>>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>>Date: Wednesday, November 11, 1998 4:20 PM
>>Subject: Re: Multiple Time Frame Question
>>
>>
>>>Don't understand, Ira. Since Elder has been
>>>mentioned as an advocate of multiple time frames,
>>>what's the difference between Elder's use of an
>>>EMA(13) for his first, long term "market tide"
>>>screen, and Goslin's 10-week moving average as a
>>>long-term indicator.
>>>
>>>> This doesn't qualify as multiple time frames. It
>>>> is multiple moving
>>>> averages.
>>>
>>>This is where I'm not getting it. How do you
>>>define the time frames? Could you shed some light
>>>on this? I thought if I set the data to "weekly"
>>>and dropped a 10-period moving average on it I
>>>would have an indication of a trend in a weekly
>>>time frame.
>>>
>>>> the other favorite for longer term traders is MA
>>>> of 10H, 8L,3C. Cover shorts as 3C crosses 8L go
>>>> long when 3C crosses 10H. Reverse for the down
>>>> side. I am not a MA advocate, but if that is
>>>> your thing, here is something to occupy your
>>>> time.
>>>
>>>No, mistaken though I may be, my interest lies in
>>>the "multiple time frame question. From what I
>>>recall, Goslin is not about moving averages
>>>crossing. Thanks, though.
>>>
>>>Philip
>>>
>>>
>>>> Ira.
>>>>
>>>> Philip Schmitz wrote:
>>>>
>>>> > Not to mention Chick Goslin's Intelligent
>>>> Futures
>>>> > Trading (thank you Steve Karnish for the tip).
>>>>
>>>> > Goslin uses a "Direction Line" (long term
>>>> > indicator: 10-week moving average); a "Timing
>>>>
>>>> > Line" (short term indicator: MA(2) or (3) or
>>>> (4)
>>>> > minus MA(9) or (10) or (11)); and finally a
>>>> > "Confirming Line" (intermediate term
>>>> indicator:
>>>> > an MA(13) of the "Timing Line".)
>>>> >
>>>> > This is one of those topics, I think, where it
>>>>
>>>> > would be REALLY HELPFUL if some of the
>>>> experienced
>>>> > traders out there would step up to the plate.
>>>> >
>>>> > Hello?
>>>
>>>
>>>
>>
>
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