Are you watching futures tick chart ?

Discussion in 'Energy Futures' started by felichka, Apr 6, 2011.

  1. If yes how to get it work with IB charts, if not what time frame is used on charts scalping CL futures ? Thank you.
     
  2. If you are trying to get true "tick" charts from the IB data feed, you are wasting your time since their feed does not report on a tick-by-tick basis.
     
  3. Thank you.
    I thought this is because I am using a demo account but my question is still open.
     
  4. the1

    the1

    I tried trading a tick chart a long while ago and while I was profitable the commission ate it all up. Prop shops want your to churn you account scalping for a tick. I find it much easier to ride a move for 15 to 20 minutes, sometimes longer. I wouldn't recommend tick trading.
     
  5. Thank you The1.
    So the smallest time period is 1 min in Demo if I am not mistaken, is it the case in live IB trader workstation ?
     
  6. No the shortest is 5 secs.
     
  7. Thank you RonRayGun.
     
  8. marceck

    marceck

    Making simple decisions more and more complex by going smaller and smaller only leads to marginal gains and steady losses over time.
     
  9. If you are testing out platforms, Open Ecry's offers quite a few options for your chart setting - time (incl sub minute), volume, tick, momentum and range bars.

    http://www.openecry.com
     
  10. marceck

    marceck

    I don't bother with tick charts because there is more thrust potential in assessing time cycles during the day. If you are going to trade for minor scalps (and try and compete with far greater powers than you at that small level of move), your reward vs energy expended is just not worth it, IMHO.
     
    #10     Apr 9, 2011