how to use tick charts?

Originally posted by ADX_trader
Breakout and Don:

Thank for your comment!

How could you specified the number of ticks to dispaly? My system seems to only dispaly tick-by-tick charts. What software are you using?


Glad to help...I use "Omega supercharts real/time". I think all
the Omega products create these charts. Also, I've been told
"Metastock pro" draws these charts and I'm almost positive
" Ensign Software"does, too.
 
tick charts also give you a better view of what the eminis do overnight.

my problem with tick charts is that I don't see the importance of a tick. A tick is a trade. So with tick charts, one tick is as good as the next no matter how much volume they each have.

Volume tick charts seem better to me although I haven't used them, and I guess that would make equivolume the best.

I started with minute charts, and for now I'll stick with minute charts.

Can you imagine watching a 500 tick chart during the lowest volume part of the day? You'd be watching one bar forever. I like watching the bars unfold and knowing when the next bar will occurr.

Minute bars are especially important when using a time based system rather than price based system. If I think the market will reverse in 4 bars, I can go out and eat lunch and come back just when my bar is about to open.
 
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