144 tick charts

Discussion in 'Trading' started by lgc, May 26, 2010.

  1. lgc



    Today I asked the host at a webinar why he uses 144 tick charts, and he bluntly replied he'd tell me when I bought his software (a $5000 piece).

    I've been googling around and I see many use it, but I still haven't found out what's the magic in this number (why not 140 or 150, for example), except for it is a Fibonacci number.

    What gives? Thanks.
  2. Occam


    Sounds very questionable to me. There's no way for me to know the details of this, but I personally would never fork over $5k based on this info.

    My impression is that systems that really work are rarely, if ever, sold, and that they are mostly used to trade internal funds or hedge funds as they are not infinitely scalable. Caveat emptor.
  3. He uses 144 tick because he is dumb enough to think it matters what size you use.
  4. lgc


    Not to mention that next week he's going to scale up the price another thousand, and so on. The system apparently works (I followed it real-time for a couple of hours during the session) and it seems to base its entries on pivots. But I would never buy into such a blunt sales tactic.

    However, my question was on the technical side. Why do people use the 144 tick chart as opposed to any other value?

  5. I'm gonna front-run him and use a 143 tick chart.
  6. lgc


    That makes sense. But what is the *purported* benefit of using such charts?
  7. There is none. A robust method (or rigid system) should run profitably across a myriad of charts. If the equity curve is based on a massaged chart setting, it is short-term curve fitted.

    If the guy was working discretionary and that's the chart he used, it's just a random selection based on fibs and nothing else. It won't work any better or worse than 125-tick, 150-tick, 162-tick, etc

    imo it's a waste of $5k but that may be construed as a biased opinion. whatever. let's just say that no magic exists in any particular chart setting... but everyone has to settle on some setting for some random reason.
  8. risky63


    if you're selling a "profitable" trading system it just means 1 thing..........
    it doesn't work and the op needs mo money for his "HABIT"
  9. spd


    Im gonna use a 1 tick chart and beat everyone, wut!?!?

    Also, I think tick charts are silly.
  10. if you use 1 tick chart, 144 willl front run you.

    So i front run the 142 tick to 143-tick-chart-guy . :D
    #10     May 26, 2010