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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: TraderAlan who wrote (9123)	6/23/2000 2:26:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 18137

I agree that it is allot safer to stick with one time frame. And if I was trading stocks, I could do this since I would have a good universe of stocks to filter for and select from. But since I trade the SPOO exclusively, this is not possible. So I have a procedure I use to select to time frame the market is operating in for me. And I have learned to make the necessary adjustments. Part of this is understanding when this approach does not work for a particular set up or even for a session of trading. I am a discretionary trader as you can see. This approach of shifting time frames usually works for me as long as I am selective in the setups I choose to trade and how I enter them. I believe emotions tend to be a bigger influence in the smaller time frames. That is where there is little time to make an intellectually thought out decision. And it is easier to get "caught up" in the price action and overtrade (otehrwise called gambling). So the emotional part of the mind can have a greater influence here. This is what I meant. I have been down this path and managed to break away from this spiral of disaster. But it was not easy. It required a significant shift in my frame of mind. And I have to be on guard to prevent this from happening again. And what helped me to make this shift in the way I thought about my trading was NOT the understanding that I was financially doomed if I continued to pursue that self-desctructive path, but it was when I felt it would be "safe" to change. I find this to be an odd thought. As a side note, I have learned much more about myself by day trading than I really care to know and contend with. But contend with I must. :-) Bob Graham