Answer:  One important concept to understand is that each time-frame is like its own universe.  The 15 minute can have "zigs and zags" at very different points then the 60 minute.  Sometimes they will be in sync, but more often then not you will drive yourself crazy trying to get everything to line up perfectly.  The more time frames you try to line up the harder it gets.

As far as your friend with all the time-frames…  In theory that would seem to make sense, but I have many students who have paid thousands of dollars for that software and are still having a hard times with picking their entry points.

The way I trade is to concentrate on whatever time frame I am going to trade off of.  For example when I use the 30 minute chart for forex I will stick to that to pick my entry and exit points.  I may glance at a 60 minute or 2 hour chart just to get the "bigger picture", but I will always give my main trading time frame the most importance. 

The bottom-line in trading is to keep things simple.  The more stream-lined your approach, the easier it will be to trade and as a reult your P/L should improve as well.

Peace & Prosperity!