....?
Which Tick Charts do you prefer for Day-Trading?
- Thread starter achilles28
- Start date
Sorry, by tick charts, I meant tick *bars*?
As for markets - CL and YM?
As for markets - CL and YM?
Depends on the instrument you're trading.
It's going to be different for everyone.
Although some people think there are magic numbers that give you special insight into the markets (like Fib numbers, for example), there really aren't.
I've specificially seen 144 and 233 tick charts mentioned because they are fib numbers and the people actually thought they would give them different information than, for example, a 143 tick chart or a 234 tick chart.
But what's the most silly about all of that is it all depends on when your data feed starts its data. My 144 tick chart might look different from yours if the "start" of my chart is different than the "start" of yours.
The only answer to this question is, if tick charts suit your style (some people prefer volume or time charts), the ones that best meet your needs are best. Do you need fast or slow? Why do you want tick charts as opposed to volume or time? If you can't answer those questions, tick charts won't give you any benefit over volume or time charts.
It's going to be different for everyone.
Although some people think there are magic numbers that give you special insight into the markets (like Fib numbers, for example), there really aren't.
I've specificially seen 144 and 233 tick charts mentioned because they are fib numbers and the people actually thought they would give them different information than, for example, a 143 tick chart or a 234 tick chart.
But what's the most silly about all of that is it all depends on when your data feed starts its data. My 144 tick chart might look different from yours if the "start" of my chart is different than the "start" of yours.
The only answer to this question is, if tick charts suit your style (some people prefer volume or time charts), the ones that best meet your needs are best. Do you need fast or slow? Why do you want tick charts as opposed to volume or time? If you can't answer those questions, tick charts won't give you any benefit over volume or time charts.
Honestly, I have no idea. Time bars were my staple for years, and now I'm experimenting with tick bars and constant volume bars. Tick bars seem to produce a cleaner chart than time bars, which I like. Conventional charting platforms often chart bars with last trade, which I find ridiculous, as the bar can jump between the bid and ask multiple times, to produce a wacky bar, even though the ask / bid remained constant for the entire duration. For that reason, and perhaps others?, I seem to favor tick bars.
What's the difference between constant volume bars and tick bars?
Why do traders use tick bars over all other types of bars?
Why do others use constant volume charts over other types of bars?
What's the difference between constant volume bars and tick bars?
Why do traders use tick bars over all other types of bars?
Why do others use constant volume charts over other types of bars?