LBR Street Smarts question

I'm reading her book and she mentions to place an order "5-10 ticks" from a high or low. What is 5-10 ticks? I know what a tick is but what does she mean by it?

 

Which strategy? what pages are you referring to?

 

turtle soup chapter.

 

why do I feel like its 1999?

 

Page 22, number 3. what part of that don't you understand?

 

what the hell is a tick?

 

tick is the smallest potential incremental move in a futures instrument.

for YM: 1 pt
for DAX: 1/2 of a pt
for ES: 1/4th of a pt

 

Your first post said you knew what a tick was. A tick is the smallest increment that a market can move at one time. Tick sizes vary according to the instrument being trading. One tick in the emini s&p is worth $12.50 per contract. In the mini Dow it's $5. It depends on the what market you're trading.

You may want to read a book on trading basics before getting into specific strategies(Street Smarts).

 

I do. Just wanted to make sure it was the same thing she was saying.
Thanks for the clarification.

 

you're welcome.