does anyone have any opinions on tick charts, and how they can help with intraday stock trades, entry and exit?? thanks weld1 need help!
weld1, I do use them when I trade the ES and the NQ intraday, because they are the best in portraying the actual behavior of the market. This approach however is not for beginners. For example, if you are comfortable with trading a certain methodology based on the 2 min charts, you could start looking at the 200 or 250 tick chart and see if it shows you market behaviors that may be advantageous to your technique. Same for other time periods and (sort of) corresponding tick charts. Some scalpers use the 5 or 10 tick charts to catch the first impulse of the move and jump on it early with a very tight stoploss. It's a very difficult kind of trading, and it takes a lot of training and nerves of duranium
since my main strategy is going long at the open, I just watch the bid price and last price. no symbols.
weld sometimes time charts can hide movement within a bar.. tick charts help iron out some of that.. i prefer them personally.. -qwik
I simply use Seconds charts. For example 30sec or 10sec charts. This way I can get the headsup but don't lose the time count.