When trading NASDAQ stocks, is it best to use TICK.NY or TICK.NQ? I would have thought it logical to use TICK.NQ but I was advised tonight to use the NYSE TICK but can't see why. spike
spike, Although I trade Nas stocks exclusively I've never found TICK.NQ (which is represented in a variety of ways across different software) to be of much value, and prefer to monitor the standard TICK or what you call TICK.NY. Yet strangely enough, when it comes to TRIN I tend to watch both. Anyway, best bet for you is to set both variations up and refer to them throughout the day. That way you can see if one or the other (or both) helps you with your trading.
I use TICKQ all the time. works fine for me. I chart it with 5 min candlesticks. Quite often it will lead the action a little.
FWIW I have used the NYSE tick with all trading. I find that the Nasdaq tick is too erratic, often swinging wildly btwn -25 and + 25, without significant correlation to the underlying market and movement. Cheers
dvegadvol, I find that the Nasdaq tick is too erratic...without significant correlation to the underlying market and movement. I have generally found the same, but I'm going to setup a 5 min chart as Nicodemus suggested and take a looksee. Maybe that smoothes things out enough to make them usable. Meanwhile, I'll stay with the standard TICK which seems pretty consistent.
Watch both more TICK (NYSE) though. I am not sure but I think I read somewhere(maybe here) that TICK.NQ is less valuable because determined by up/down bid on Nas stocks while TICK is derived from actual trades. Anybody can confirm this? Thanks
Thats my understanding too, Kicking, but I dont see what difference it makes. All that matters to me is if the tick is at an extreme or trending one way or the other and if the bids are dropping the market will be dropping too. The Big Board often diverges with the Naz. When it does, why would you follow the TICK rather than the TICKQ? Maybe I'm missing something.