Discussion in 'Strategy Development' started by Lorenzo, Sep 7, 2006.
$TICK seems to anticipate price action
Just curious if someone uses it to scalp the mini ES
Yes.....I have been using it for several years.....it can at times help confirm or deny a signal from other tools I use. It is great for "snap back" trades on strong trend days for scalping.
BTW, your chart example looks really good.....great demonstration of the concept!
Also, some good benchmarks for the NYSE TICK is +800 and -700.
Is a great tool for exiting positions. If long and the tick goes +1000 I always liquidate a portion of my position. Same thing if I want to enter from the long side. I like to wait for the tick to go -500 to -1000 to get long into. Definetly a great tool for entry/exits.
I used the TICK....many years ago....worked good....but you need to be careful when using it for the ES. The problem is....the TICK is based on the NYSE....not the S&P 500....which the ES is based on. Thousands of stocks on the NYSE.
Attached is a chart....with the TICK....TRIN....etc. The values on the chart may differ from what others may think....but this worked for me. For instance....the TICK can often go to +/- 1200....while my chart shows much less. The reason for this....is I wanted make sure I watched the TICK carefully....anytime it was above the values I show. At some point it will turn....and many times it will turn near the values you see on my chart. Sometimes....when it goes above or below those values....while it may indicate a strong Trend....this can also indicate an exhaustion move....and can change direction very fast.
I haven't used the TICK for several years now....don't need it the way I trade.
You might want to look at a thread I started....Scalping....My Way With ACV. Watch the TICK and ACV....see if they go together.
Good trading to you.
So sometime yes and sometime no eh ?
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