MetaStock only recognizes one "Default" at any given time. There are ways to deal with this. You could open all the securities in a folder with a default (which would create smart charts for all the securities) and you could then switch to a new "Default" template and do the same thing for your other folder. However, over time if you changed the defaults slightly, the smart charts would no longer represent the default and if you added new securities to these folders they too would need to be opened with their respective defaults. You can also use the "Use Chart As Template" feature when you change securities in the chart. Within Tools -- Options -- Chart Options, you can set the "Change" section to "Use Chart As Template". The limitation of this is that changes you make to the charts would be lost each time you applied the template vs. using Smart Charts. The benefit is that you can quickly use a particular template to view all the securities in a folder a given way.