Come into my trading room

I was interested by some of Alexander Elder's comments in his book, "Come into my trading room." For those of you who have never heard of him, he is a professional trader who at one time was a psychiatrist.  

He states that a successful trader needs to stand apart from the crowd and one way to do so is to be unique in choosing your timeframes.  I've always used the 60-minute, 180-minute, 240-minute, and the Daily timeframes.  Elder says that it pays to use uncommon parameters for charts and indicators.  Most traders use the default timeframe configurations in their trading software but since thousands of people use half-hourly charts, why not be the minority that use 25-minute charts.  The benefit to this also is that you may get signals a little faster.  

I was reading more about his Triple Screen Strategy not really because I'm looking for a brand new strategy to use (I'm always open-minded) but because it stresses the use of multiple time frames for entering and exiting positions.  I've always treated each timeframe as a totally separate entity mostly because it simplifies entries and exits and also because I adopted this style after reading Raghee Horners first book.

Elder seems to have a lot to offer in the way of trader psychology and money management.  I'll continue to post anything interesting if I come across it.

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