Triple Screen Resolve The Contradictions Between Indicators & Timeframes...
Note: Winners have the discipline to take what is offer and use it to succeed. Wining take discipline, discipline come from confidence and the only system in which you can have confidence is the one you have tested on your own and adapted to your own style...
Method is a general philosophy of trading: trade with trend.. buy undervalued.. sell at resistance zone..
System is set of rules for implementing the method. So if the method is to follow the trend, then the system may buy the trend is up.. using trend indicators tool.
Technique is a specific rules for entering and exiting the trades... Fine tune the entry and exit based on method and system.
Common Problems With Newbies:
1. Have a conflict to choose the right indicators...
2. Have a conflict to choose the right time frames.
The method of triple screen is to analyze markets in several time frames and use both the trend following indicators and oscillators.
We will make a STRATEGIC decision for LONG or SHORT by using Trend Indicators On Long Term TimeFrames...
We will make TACTICAL decisions to enter or exit using Oscillators on Intermediate Time Frames..
Conflicting Indicators..
Technical Indicators help identify trends & its approach is more objective as compare to using a chart patterns. However, you must becareful, not fiddle with indicators until they tell you want you want to see especially if you adjust the indicators setting..
Two main major group of indicators:-
1. Trend Following Indicators - help to identify trend (rise when market are rising, decline when markets fall & flat when markets enter trading ranges)..
2. Oscillators help to catch turning points.
Different group of indicators often give conflicting signals. Trend following indicators may turn up, telling us to buy, while oscillators become overbought, telling us to sell. The good trader must learn to handle this contradiction.
Conflicting Time Frames
An indicator can call up trend and a downtrend in the same pairs on the same day on different time frames. Daily TF may gives you buy signal buy 4Hr TF may gives you sell signal.
To resolves the problem of conflicting timeframes, you should not get you face closer to the market but push yourself further away.. take a broad look at what's happenning, make a STRATEGIC decision to be BULLS or BEARS, and only then return CLOSER to maker and look for ENTRY and EXIT points..
What is Long Term and what is short term? Triple screen avoids rigid definitions by focusing instead on the relationships between time frames...
Triple screen defines the Long Term by multiplying the intermediate time frames by five. What is intermediate? Intermediate timeframes is the time frames that you choose to trade or enter the trade...
So choose your favorite time frames to trade and this is your intermediate time frames and then immediately move up one order (multiply by five) of magnitude to a long term chart... And make a STRATEGIC decisions at Long Term Chart - Decide BULLS, BEARS or STAY ASIDE.. and return to intermediate chart for entries and exit..
Note: Winners have the discipline to take what is offer and use it to succeed. Wining take discipline, discipline come from confidence and the only system in which you can have confidence is the one you have tested on your own and adapted to your own style...
Method is a general philosophy of trading: trade with trend.. buy undervalued.. sell at resistance zone..
System is set of rules for implementing the method. So if the method is to follow the trend, then the system may buy the trend is up.. using trend indicators tool.
Technique is a specific rules for entering and exiting the trades... Fine tune the entry and exit based on method and system.
Common Problems With Newbies:
1. Have a conflict to choose the right indicators...
2. Have a conflict to choose the right time frames.
The method of triple screen is to analyze markets in several time frames and use both the trend following indicators and oscillators.
We will make a STRATEGIC decision for LONG or SHORT by using Trend Indicators On Long Term TimeFrames...
We will make TACTICAL decisions to enter or exit using Oscillators on Intermediate Time Frames..
Conflicting Indicators..
Technical Indicators help identify trends & its approach is more objective as compare to using a chart patterns. However, you must becareful, not fiddle with indicators until they tell you want you want to see especially if you adjust the indicators setting..
Two main major group of indicators:-
1. Trend Following Indicators - help to identify trend (rise when market are rising, decline when markets fall & flat when markets enter trading ranges)..
2. Oscillators help to catch turning points.
Different group of indicators often give conflicting signals. Trend following indicators may turn up, telling us to buy, while oscillators become overbought, telling us to sell. The good trader must learn to handle this contradiction.
Conflicting Time Frames
An indicator can call up trend and a downtrend in the same pairs on the same day on different time frames. Daily TF may gives you buy signal buy 4Hr TF may gives you sell signal.
To resolves the problem of conflicting timeframes, you should not get you face closer to the market but push yourself further away.. take a broad look at what's happenning, make a STRATEGIC decision to be BULLS or BEARS, and only then return CLOSER to maker and look for ENTRY and EXIT points..
What is Long Term and what is short term? Triple screen avoids rigid definitions by focusing instead on the relationships between time frames...
Triple screen defines the Long Term by multiplying the intermediate time frames by five. What is intermediate? Intermediate timeframes is the time frames that you choose to trade or enter the trade...
So choose your favorite time frames to trade and this is your intermediate time frames and then immediately move up one order (multiply by five) of magnitude to a long term chart... And make a STRATEGIC decisions at Long Term Chart - Decide BULLS, BEARS or STAY ASIDE.. and return to intermediate chart for entries and exit..
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