Tick or Time

Hello,

For those of you day trading, do you prefer to use tick or time candles and why?

Thanks in advance.

 

Time, but not neccesarily time candles. The shorter the time frame, the more accurate the picture you get of short term movement. Tick gives a much more accurate entry and exit signals, but it is so much work monitoring tick by tick.

Also, depending on your trading style, you may find tick or time useful to you.

 

Anybody else?

 

Amusing.
Answer: range and volume bar charts.

However I don't use charts to trade as I operate with a detailed predictive trading model (not chart based).

I do have a live chart as a visual just to watch price (YM) clean and clear of any indicators.

I also still run, from my earlier work on indicators, range bar charts on INDU and YM with a volume bar chart on YM each with stochastics and MA. The volume bar chart details and pre-warns ahead of the range bar charts. They work well as a trading suite but as I say I don't use charts as I use a non-chart trading model.

CONR, what are you doing?

 

I'm going back and forth between the tick and time candle charts along with several indicators. I'm still trying to figure out what works best for me.

Thanks.

 

Thanks.

By the way, how do you assign volume to every volume bar in the volume bar charts?

 

Minute Charts - The Markets are trading in Contract or Share increments not time so that means you are watching the Markets in constantly varying environment. At best you need Volume indicators to interpret price. Ever hear the phrase, "Open to interpretation"? Impossible to read anything consistent from them.

Tick Charts - These used to be "Constant Tick Charts" until GLOBEX decided to destroy them by manipulating the data, rearranging them at will. They are still better than Minute Charts but ot much. Even when they were Constant Ticks the number of contracts or shares trade per tick was a variable thus eliminating their consistency.

Range Bar Charts - These wonderful charts allow the user to guess at a specific range the Market will play in and then show you when Price breaks out of that range. Perfect for the Breakout trader. Ever see breakouts reverse?

Volume or Contract Bar Charts - A User defined Bar Chart giving the user the ability to see an accurate and consistant view of Price movement. Each bar is a specific number of contracts or shares traded. This is the only chart type that gives you a non-varying view of price. The problem with this chart is the way the charting companies build the bars. To date, Ensign Software and MultiCharts are the only companies that build these bars correctly. I was told that Esignal was working on a fix that would fix their problem building them.

 

Thanks.
How about Quote tracker for the Volume Charts?
And how to set volume number for Volume Charts?

 

I use candles when the lights go out. Well also for birthday cakes.

 

CHEESE, What is a DETAILED PREDICTIVE TRADING MODEL? I am wondering, is it a TIME MACHINE or a simple model put together with Testors model glue or Elmers paste glue. Thanks