<i>"Austin, I suggested her the 5 second chart (with volume) to look inside the entry formations of the 10,000 but she thinks multiple charts will just reduce concentration so scaling into her entry is the only thing I could think of to avoid the no fill runs that screw with her mind."</i>
One of the common objections on working with more than one chart is potential for conflict in signals. Truth is, there can only be conflict if the trader creates that in their own mind.
Let's say we settle on trading a 10k volume chart for ES. Good choice, it is a slower setting that filters out much = most random noise between true swings. That is our chosen chart, we define swings and trends based on this view of the market waves, nothing else is relevant.
In other words, this specific chart is what we consider "the market" for our own use.
If that is the standard by which we measure waves and trends, using a smaller = faster chart to see inside those waves cannot create conflict. When the 10k-V chart is bullish, it doesn't matter if an 89-tick chart is flashing sell signals. Those are totally irrelevant to our definition of waves and trends. Right? The only signals that matter are buy signals off an 89-tick (or 5 sec, or whatever) chart when the 10k-V chart is bullish. Nothing else matters, nothing else exists but that.
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The conflict comes from watching failed setups on 10k-V chart signaled early as reversals on the smaller chart. Because retail traders naturally want to see every single turn and profit from every single entry, they are drawn to the faster action in a small chart whih showed a successful trade opposite the 10k-V chart. We quickly forget the five other fade trades off smaller chart signals that failed miserably... while sticking with 10k-V directional bias made money each time. We tend to clearly recall the infrequent times where a fade against the 10k-V chart worked... emphasis on <b>minority of the time</b>.
See where the conflict arises? In our own mind the ceaseless pull of fear = greed (same emotion expressed in different ways) draws us away from the core concept of a 10k-V chart definition's for waves and trends.
If we opt to work from two charts, it's really just a blend of one chart in reality. The filter, core or anchor chart is where our decisions are based. The faster chart is merely viewed to see if/when validated signals are confirmed near key action points on the main chart. Simple as that. The core chart is where all decisions are made. The small chart is where those same decisions are acted upon.
Two charts, one view of the current price action. No conflict exists unless we create that in our own mind. Conflict usually stems from fear=greed. Simple human behavior that constantly gets in the way of our getting rich.
