Second based charts for Daytrading?

Discussion in 'Trading Software' started by antares66, Feb 12, 2020.

  1. I realized that tick charts are the better option than second based charts.
    For stocks which are moving fast at the open but show a moderate number of trades within a one minute time frame i use a 34 tick chart. For stocks with a huge number of trades i use a 377 tick chart (fibonacci number). By using a 34 tick chart i wouldn´t get a clear picture because of the huge number of bars showing up.
     
    #21     Feb 12, 2020
    cafeole and CALLumbus like this.
  2. CALLumbus

    CALLumbus

    Nothing to do with selling tops or buying bottoms... those are all relative, anyways.
    This game is about getting a good price. Both on your entry, and on your exit.

    This chart is from the market opening today, NQ, first few seconds (9:30 NY time):
    nq.PNG

    9580 at 9:30:10 am or 9585 about 10 seconds later, no matter if you go long or short... thats 100 USD difference per contract.
    If you only trade 10 contracts, that means 1000 USD more or less in your pocket, within seconds. Isnt that worth some effort to have a closer look at what the crowd is doing ?
     
    Last edited: Feb 12, 2020
    #22     Feb 12, 2020
    birdman and Real Money like this.
  3. CALLumbus

    CALLumbus


    NO
    , I dont, because I do not really use THIS (!?) 1m.
    I make some money though, doing other ((xM) and (yT)), and even more doing d O M

     
    #23     Feb 12, 2020
  4. padutrader

    padutrader

    :D
    I don't either
     
    #24     Feb 12, 2020
  5. padutrader

    padutrader

    but the idea is to make money some how

    if we do not double our expenses every 5 years we have to half our expenses

    that is every where in the world

    but Trump need not worry :D
     
    #25     Feb 12, 2020
  6. padutrader

    padutrader

    you really think the crowd is looking at 10 sec charts?

    are you serious?
     
    #26     Feb 12, 2020
  7. Fonz

    Fonz

    The day trading crowd watches 5 min charts :sneaky:
     
    #27     Feb 12, 2020
  8. CALLumbus

    CALLumbus

    o_O
     
    #28     Feb 12, 2020
  9. Then they are missing the train all the time. I refer to low float stocks.
     
    #29     Feb 12, 2020
  10. easymon1

    easymon1

    those baby's can zip on by
    have you already got the new incarnation of process rolling?
    would like to hear more as time permits down the road.
    cheers
     
    #30     Feb 12, 2020