Tick Charts Give You A Winning Edge In Day Trading
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- Опубліковано 3 кві 2017
- Tick Charts in day trading: Are they better than minute charts?
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Here are 3 advantages that tick charts have over minute charts in a day trading strategy ... and also 3 disadvantages they have!
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Barry Burns
Top Dog Trading
TopDogTrading.com
Facebook: / topdogtrading
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Watch the related video: "Tape Reading Price Action Trading Strategies."
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RISK DISCLAIMER:
The information contained on this video is for informational and educational purposes only. We are not registered as a securities broker-dealer or as investment advisers, either with the U.S. Securities and Exchange Commission or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. Trading and investing involves substantial risk. Financial loss, even above the amount invested, is possible. Seek the services of a competent professional person before investing or trading with money.
The information contained on this video, is not provided to any particular individual with a view toward their individual circumstances and nothing in this video should be construed as investment or trading advice. Each individual should assume that all information contained on this site is not trustworthy unless verified by their own independent research.
Any statements and/or examples of earnings or income, including hypothetical or simulated performance results, are solely for illustrative purposes and are not to be considered as average earnings. Prior successes and past performance with regards to earnings and income are not an indication of potential future success or performance.
You should never trade with money you cannot afford to lose. The information in this video is in no way a solicitation of any order to buy or sell. The author and publisher assume no responsibility for your trading results.
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HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. - Навчання та стиль
Wow! This topic is spot on for something I wanted to learn about. You are amazing in how you teach. I just found and purchased your 2 primary courses about a week ago, and I am loving all of your presentations. Thank you so much for all the care and dedication you offer to us as traders.
Rebecca Calkins ahh that didn’t sound rehearsed at all, nice
It is not complicated issue to identify a double top chart pattern. Being a reversal pattern from a previous swing high,you can easily scan for swing highs and set an alert when price revisits that price zone using the Blended Model Strategy.
Two tops, top 1 & top 2 (or swing highs or peaks )that are almost on the same price level. Financial markets are not perfect so expect some price splash around the levels. But applying this strategy makes my entries successful. As a Forex market swing trader, once you see all these things lining up, you know you are should take your trade because price usually moves fast downward once top 2 resistance level is not broken to the upside.
An excellent introduction and explanation - thank you.
Well presented Dr. Burns. Thank you for your excellent and clear explanation of tick charts compared to time based charts.
Good video, thank you for the survey of the two chart differences. What numbers for the TICK chart would you use for the NASDEQ at the opening? 1000, 5000?
This answers my question I asked during the webinar tonight, Thank you
That's great! Glad this video brought clarity to your question.
For high volume stocks and etfs like SPY I use 3200 ticks and this approximates a 6 min chart. Other smaller volume stocks 1600 ticks is adequate.
This really helped me understand it better. Thank you!
That's great - happy to be of help.
Great tip. I didn't knew this before. Thank you.
Happy to help!
Thank you Barry, appreciate your easy to understand education style
Thanks Rick, I'll keep doing my best for you.
Thank you for a very interesting presentation. I particularly like your observation that tick charts produce more wave like price patterns which makes them more predictable than time based charts.
Yes, I love that about tick charts too.
Thank you, Barry, May god bless you long life!
Thank you Shaik - I hope we both have long lives!
This video was very helpful... thank you!
Glad it was helpful!
This was great Barry ... those $ in the Details ... are so great! Appreciate your devotion to education us traders.
Thank you Sharon.
Thanks for your great videos. Volume for tick based charts ~= tape speed indicator
You're more than welcome Jeff, I'm glad you're finding the videos helpful.
Thanks Barry - Great clear explanation as usual
Glad it helped bring clarity.
thank you. I needed this information.
Glad it was helpful Wanda!
i really liked the clarity of the content. thx
I'm so grateful for your positive feedback, thank you!
another great video! thanking you muchly
My pleasure!
Very informative, thank you.
You're very welcome Christel
Great video and clear explanation, thank you!
Glad it was helpful!
Great video. Just to clarify for my own understanding …do tick charts track “round trip” trades (i.e. a stock/contract is bought AND sold, or if short - sold AND bought) or are these one way “transactions” as you would find printed on Time and Sales in which a stock is bought OR sold? I presume we talking trades made by the market maker where for every buyer there’s seller or vice versa, correct? So for example, a 1000 round trip market trades, correct?
Sir , i owe to you for this video"s information, thanks a lot ,pliz keep it up for our betterment
This was great, I have been researching "forex reading" for a while now, and I think this has helped. Ever heard of - Reyichael Candlesticks Blaster - (just google it ) ? Ive heard some interesting things about it and my mate got amazing success with it.
I just came across this video while researching tick charts. Great information, thank you. I guess I'm a little late for the rubberband trade and cycle indicator? Thank you. I can't wait to have enough knowledge to pay it forward.
Thanks MB. I'm not doing the cycle indicator webinar live anymore, but you can still watch a recording of it here: www.indicatorwebinar.com/
Thank you so much for this video. Excellent presentation. One question though, you indicate that the tick chart has little variance in volume, but since each tick bar represents 500 ticks for example, wouldn't the volume be 500 for every tick bar?
Great question - it wouldn't because in this context a "tick" represents one trade, regardless of how many shares (or lots or contacts) are made in that trade.
thank you for sharing
Crystal clear explanation. Thank you so much. I have a question though. I have been trying to search for WHERE I can get tick charts, and can't seem to get the answer. Could you suggest one? Please? Thanks in advance
:)
Thank you for your question Lorena. There are quite a few platforms that have them: NinjaTrader, eSignal, Tradestation, ThinkOrSwim to name a few.
Informative.
Great video, thank you!
You're very welcome Jenkins
Thank you for another excellent video
You're more than welcome.
Great voice, great teacher, good information - Subscribed
Much appreciated!
great vid. Learned some good stuff
Wonderful, I'm glad it was helpful.
My theory on tick vs time, is based on your teaching about there are TWO axes on any chart. Ticks are more aligned with PRICE (meaning they are more accurate in terms of price), and are X-axis based, while time charts are obviously TIME based, or y-axis based, so are more accurate for timing your entries/exits. I use both, so that I can find the confluence of TIME and PRICE.
Great point and very well said. Excellent contribution to the discussion!
Have you seen Renko, kinda the same concept but it is only a function of price. Time and volume are no subject
@@Abduldoctor I've heard of it. Will have to check it out
@@Abduldoctor I'm interested. Could you further explain?
Isn't the X axis time, and the Y axis price?
thanks you for the lesson
My pleasure Darren
Excellent Presentation. Question - Do The Indicators and Studies Work Well On Tick Charts? For Example : Moving Averages, MACD, RSI...
Good question and yes, they absolutely do Michael.
I use 333tk and 512tk. Best method I found to trade.
Thank you for sharing that.
Great video, In day trading using tick charts would it be better to use a multi time chart in time, or tick? for market direction? Thank You
Thank you William. If you're using a tick chart as your primary chart, then I'd use a tick chart for your longer-term chart as well.
Great video, thanks!
Could you make a video on range bars, and constant volume bars? I hear them being mentioned lately.
Great suggestion, I'll add it to my "to do list."
@@TopDogTrading Thank you!
really good - great topic very useful for scalping , do you know where would be good to get it on mt4
Thank you Ayrton. Sorry I can't help with MT4 since I don't use it, but I'm sure if you contact their support team they can help.
@@TopDogTrading What trading software do you use. Thanks
Well presented
Thank you so much.
Thnkx so much!
You're welcome!
I have been watching all your videos. Excellent effort. Would be great to learn the difference between hikenashi chart, renko chart and tick chart.
Thank you for the kind words. Those are good suggestions, I'll add them to my "to do" list.
This was great! Still, wondering when to use the stick chart size like should you use 100-500-1000-2000?
Hi Archie, "it depends!" Here's a blog post I wrote about how to determine that best time intervals for an individual trader based on several criteria: www.topdogtrading.com/question-what-is-the-best-interval-for-day-trading-part-2/
@@TopDogTrading This is great thans!
Professional and well explained. Kudos
Thank you Paul.
@@TopDogTrading my pleasure
Can you make a video about day trading volatile penny stocks and small cap stocks, especially gappers under 10$
keep the work up i'd like to learn from you newbie in forex market =)
great video! 👍👍🤚🤚👍👍
Thank you Ruben 👍
Thank you for the video.....Does candlestick still work with tick chart? I know it is not that extreme as compare to minutes chart, but can I still rely on the candle patterns?
Yes they do still work, but as you said, they aren't as good as using time-based charts for Candlestick patterns Susanna.
What about off US hours trading session for ES mini future? Can we still trade effectively during Europe market hours (before US hours)?
Nice content ! what is charting platform used?
Thank you. I used NinjaTrader charting platform in this video.
Spot on
Thanks Tech Pro.
I want to learn more about tick trading.
very insightfull
Thank you Louis, I'm glad you found the tutorial helpful.
I did watch the whole rubberband video and it just started circling at the end and I didn't get the free download. I love your training method and I would appreciate the download. Thank you
Thanks for letting me know. Sounds like a server or Internet connection issue.
What is the software that offers tick charts? Because MT4 doesn't offer them. Besides I don't know how do u get reliable data for tick charts.
Many charting programs offer tick bars including NinjaTrader, Tradestation, Think or Swim, eSignal, and many, many others.
Very nice and helpful
I'm glad you found the tutorial helpful Jean.
very good video and very useful information but... where can I get tick charts? I looked trough a lot of different programs but i couldn't find any, could you help me please? Which software are you using? Thanks in advance.
There are many, but I know for a fact that NinjaTrader, Tradestation and Think or Swim all offer tick charts.
Thank you!!! you're so kind! subscribed!
Hey man, how to i access tick candles. Is there a specific software you use or is it your broker that offers it?
There are many charting platforms that offer it - NinjaTrader, Tradestation, ThinkOrSwim ... many others.
Thank you
You're welcome Edvin.
Thank you for another great video! Is it true that tick charts are not as reliable in Forex as in Futures for example?
Thank you. That's a good question. I personally prefer tick charts for Forex. Volume in Forex is measured by ticks, not by lots, so I would think volume bars would be less reliable.
Thank you Jamie, I'm glad you found the lesson helpful.
You're more than welcome.
Thanks a lot for your answer Dr Burns. I asked because I read that among other reasons tick charts in Forex can be filtered by the data feed provider, set to start re-counting at different starting points (e.g. midnight, open, etc.), or miss trades due to internet interrruption. So would it be more optimal to use it side to side with time-based candlesticks?
nice video, it helped alot:))))
That's great Q, I'm glad it helped.
this is actually very well done.. however, I would suggest that Tick charts certainly can show candle patterns very well, they just cannot convey that same sense of urgency that time based bars do.. for ES I use the best of both worlds : a 5 minute base chart for market Bias, and a 1500 Tick chart for execution, great combo !! plus certain indicators seem to "work better" on tick based charts. thanks Dr. B !
Excellent contribution to the discussion James. When trading the ES I have a 5 minute and a 1,000 tick chart on my monitors. And I agree, tick charts do still show candlestick patterns better than volume bars or range bars, but just not quite as good as time-based bars.
@@TopDogTrading I like the idea of both a 5 min and 1,000 tick combo, can you please then explain which fractal chart of 3x I should follow; time or tick? Thank you, once again.
Subbed and shared.
Thank you, I look forward to bringing you more value for your trading.
What is the ideal tick chart for intraday
There is no "ideal" that applies to every chart and every trader as the best. However here's a free article that will help you determine what the best tick chart is for day trading for you: www.topdogtrading.com/question-what-is-the-best-interval-for-day-trading-part-2/
Does any of this matter if you’re using Limit Orders ?
Thank you for asking and yes, it still does apply.
There seems to be some debate about whether they are suited to Forex because of the decentralised exchange
That's a good point Adam, and that is true of most everything. But remember you're trading within your broker's universe of data, not the universe of data, so that helps offset that point a bit.
How many ticks would you set it for swing trading?
Personally I use tick bars for day trading, and daily charts for swing trading.
TopDogTrading Thanks
What Trading Platform is that ?
That's NinjaTrader.
Where l can find this chart in any platform
Some platforms offer tick charts, and others do not. Among those that do, each platform is different, you'd have to contact the support team of the platform you have.
Sir can tick charts be use on equity markets?
Yes, absolutely Raghav
@@TopDogTrading sir do you know any platform which is providing tick charts other than ninja trader and thinkorswim
SIR, Which support is more likely to hold-- A) one with fractal support Or B) one without fractal support?
Which support is more likely to hold A) fresh recent support--not tested before Or B) Support which has proved successful being tested many times before?
Which support is more likely to hold A) where price spent little time before being repelled away successfully Or where price spent a lot of time before moving away? I seek your wisdom on these life & death questions.
All those are factors, but the more important determination is the money flow as price moves into any of those areas of support.
Anyone know if there is a way to get tick charts on Tradingview for the ES contract?
Last I heard TradingView does not offer tick charts.
is tick chart available int mt4.
I don't believe it is, but you should ask them directly to be sure.
any good number for tick chart for stocks? i am using 4500 1500 500
It varies depending on the average daily volume of the stock you're trading and also on the size of your account. Too much to explain in a brief UA-cam comment, but you (or anyone here) are welcome to send me an email at Barry@TopDogTrading.com and ask for my articles on "How To Determine the Best Time Intervals for Your Charts." I'll be very happy to send you links to those articles. No charge of course.
would you use fibonacci numbers in a tick chart such as 144, 233, 377, 610, etc? I recall seeing your presentation on fractals and those ratios elsewhere.
It is not complicated issue to identify a double top chart pattern. Being a reversal pattern from a previous swing high,you can easily scan for swing highs and set an alert when price revisits that price zone using the Blended Model Strategy.
Two tops, top 1 & top 2 (or swing highs or peaks )that are almost on the same price level. Financial markets are not perfect so expect some price splash around the levels. But applying this strategy makes my entries successful. As a Forex market swing trader, once you see all these things lining up, you know you are should take your trade because price usually moves fast downward once top 2 resistance level is not broken to the upside.
Why use tick charts and not volume charts directly?
I like to see extreme price bar formations because they give me information I use for trading.
👍
what software is this?
Hi Lam, that's NinjaTrader software.
@@TopDogTrading it is free or paid to use?
I don’t understand the relationship between ticks and volume. It sounds to me like a tick IS the volume? Tick is x amount of trades correct? And volume is an amount of trades isn’t it? Aren’t ticks and volume the same thing? I’m confused 😓
Good question Vinny. Ticks are the number of trades, but volume is the number of shares traded - each trade can be made with a different number of shares (or contracts, lots).
I will nvr understand why any trader will use minute bars. The market has nothing to do with time, but only on price points. Thats it
Thank you for your perspective on that Kimster Trader.
It is not complicated issue to identify a double top chart pattern. Being a reversal pattern from a previous swing high,you can easily scan for swing highs and set an alert when price revisits that price zone using the Blended Model Strategy.
Two tops, top 1 & top 2 (or swing highs or peaks )that are almost on the same price level. Financial markets are not perfect so expect some price splash around the levels. But applying this strategy makes my entries successful. As a Forex market swing trader, once you see all these things lining up, you know you are should take your trade because price usually moves fast downward once top 2 resistance level is not broken to the upside.
Yes, and I especially like your point that "Financial markets are not perfect so expect some price splash around the levels." That's 100% true. Thanks for your thoughtful contribution to the discussion here.
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