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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Chip McVickar who wrote (18401)	3/12/1999 1:19:00 AM
From: Teresa Lo	Read Replies (1) of 44573

The bottom line to trading is money management so I had to adjust my trading from daily charts to 5 minute charts...it's harder work than before, but more money is made in a shorter time frame, so I can't really complain. As for the professional screen, I know a lot of people watch 10000 things at once, read all the chat in a dozen chat rooms, watch TV and read financial publications but I don't do any of that. I watch the price chart using Japanese candlesticks, use a moving average, volume and ADX. In the end, everything is manifested and reflected in the price and volume, so I think it is best to just keep an eye on price and not worry too much about the rest. Also, if you think about it, price leads everything, rather than the other way around so I think price is the most important thing to watch, along with volume. In the end, a trader needs to decide which time frame is suitable for his temperment and wallet. Then watch for patterns or whatever on that main time frame. Move in one time frame to execute trades. Watch a couple time frames out for bigger picture moves. It works for me.

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