No, not really. Linda Raschke once said: "Give a man a watch and he'll know the time. Give him 3 watches, he may not know the time since each watch may show a different time". For me, I find that when I trade a single time frame, I am able to make decisive decisions. With multiple time frames, I will second guess my decision and hesitate on the trade. You may be different, but it is something to consider.
When considerating multiple timeframes, you can hold your trade based on a longer TF and use the smaller TF for entry. However I'm not sure if a pattern on the 3h would be much different from a 2h pattern.
I guess to each their own. Actually when i only use 4 now, without the 30Min i feel like i miss a lot of setups. So i will experiment,add more screens and see how it goes and try to find a sweet spot. (seems like i have already made up my mind lol...still looking if anyone can say from experience though). I don't know what was linda referring to.. Maybe to watching several stocks? Because all the timeframes are still showing the same chart. I would say it's more so like watching 3 different type of watches, showing the same time in a different form. Say an analogue watch, digital one and a sand watch. I might focus on the digital one for accuracy, but i will still glimpse over the sand watch to just get a feel for where we are and to be reminded of it. How many watches is too many... I guess i have to find out.
I have a screen with 6 charts. Timeframes i use regularly are 5min, 15min, 30min, 1H, 4H and 1D. i am wondering whether would it be advantageous to add another screen with 2H, 3H, 6H, 8H, 12H timeframes. would it be advantageous to add another screen? - maybe. 5m, 15, 30, 1H, 4H, 1D. so far so good... 2H, 3H, 6H, 8H, 12H - are these what i would add? not necessarily... Other charts to consider could be various settings on Range bars, Volume bars, Tick Chart, (new bar after a set Number of Trades, https://emini-watch.com/emini-trading/tick-charts/ Before you hook up another monitor though, set aside some "Sharpening the Saw Time" (The woodcutter can become even more productive by sharpening the blade, studying new woodcutting techniques, working out to become stronger, and learning from other woodcutters. Yeah yeah, whatever, so you could just duplicate the chartbook you use now and plug in the commands for Range, Volume, Tick. Take screenshots of the same dates and underlying using both your current chartbook and using prototype chartbooks of new chart types, save a quick trial run of screenshots that you can later ping-pong back and forth between the current and prototype versions to see advantages that exist. relax, have a home-brew and go look through your collection. If it looks promising, soldier on with more settings more examples, more dates, more underlyings. Take another look, evaluate, draw on your screenshots to illustrate good bad and ugly, set your course and let us know what you decide. - Like anyone else, Feel more than welcome to post any of your shots and work to Thumbnails: POST Some CHART Images in THUMBNAIL Format Right Here, Baby. https://www.elitetrader.com/et/thre...at-right-here-baby.343012/page-4#post-5100441 Full Sized: Charts For No Reason https://www.elitetrader.com/et/threads/charts-for-no-reason.344272/page-6#post-5155459 Better Yet, Start a Thread on this topic. - This would be a most excellent study without doubt. Some good screen shot apps are listed in this thread: https://www.elitetrader.com/et/threads/how-many-traders-take-screenshots-of-their-charts.347041/ - Below is an extremely rudementary example that pales in comparison to the above. $$$$$ Top Down analysis, or at the same Time? introduces more variables into decision making, which can lead to more information as well as more noise. here is a link to a set of charts for the same date, displayed as various timeframes, volume and range for the nq. when in use they would be expanded of course, but this gives an idea how they behave alongside a common set of moving averages 8 ema, 20, 50 200ma. https://www.elitetrader.com/et/thre...at-right-here-baby.343012/page-4#post-5100441 expanded, these charts become much more friendly, and the price action becomes more visible, and indicators that you use will respond uniquely to a range chart vv to a time chart. Tick chart is worth a look too, not shown here.