Why You Should Be Using Tick Charts When You're Day Trading
ฝัง
- เผยแพร่เมื่อ 4 ต.ค. 2024
- Hey y'all! I wanted to make this video for you on using tick charts before I head to the beach. Using tick charts when you are day trading will significantly help you in a number of ways that I talk about in this video.
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I noticed the most valuable trading TH-camrs are the ones with low amount of subscribers. You are a gem. Please keep doing what you're doing. You're a legend!
I tried tick charts as an experiment and it has changed everything, you are 100% right. Chart has become "normalized" during volatile and non-volatile periods, the patterns are more precise, there are more of them and give higher propability. I will never go back to time charts for entries.
Love this video, i was in a high streak of winning days and went in on a nasty 5 day slump. this video just cleared my whole mind
Time charts are helpful in uncovering the "impatience" factor.
So important to my results, and yes, that's what I missed when using tick charts.
In Thinkorswim you should turn on 'sync crosshairs position' to show your pointer position in both charts simultaneously
Thanks, Doug! I'll make sure to do that next time I make a video with ToS :)
I thought the same.
Hey man, fantastic explanation of the tick chart. One of my favorite channels is the day trader next door. He uses the tick chart and he did a video about it but it wasn't nearly as in-depth as this one so thank you very much
That’s awesome to hear Maxwell and no problem at all!
Outstanding. Thanks for sharing. Lots of respect from here in Iran 🇮🇷
Thank you very much!
this presentation is just fantastic. I have been switching back and forth from Time Tick charts for way too long. This single presentation is exactly what I needed. You know what to look for ! That's what it's all about !! Thumbs up + Subscribed !
A well explained video but reading and mastering the charts is not an easy task for a beginner, if you can't handle it. I highly recommend you hire a qualified personnel who can decipher it and assist you.
I decided I could do it on my own, I even used indicators and I am yet to yield profits can you assist me in anyway?
To fully understand the market you have to fully devote your time to research.
I'm still new to trading so I am practicing with a demo account
I am still supervised by the distinguished CONS. Edwin Earl and i rely on his experience to make profits weekly
I keep seeing CONS. Edwin Earl recommendations, I would like to know more about his services?
You just gave away something at one point in this video that has easily made tremendously 10x easier to trade futures. Insane, God bless
Awesome Bond and God bless you too!
Thanks for taking the time to put this together
No problem at all
Brian, thank you so much for making this excellent presentation comparing tick and time charts. This by far is the best I have ever watched! I am now a subscriber to your channel and thank you again.
Of course anytime John!!
Nice video u have to be the type of person who doesn't suffer from paralysis by analysis, quick decisions, trade has to be itm within seconds... ticks with awareness of key levels is important👍
Good Video Brian!! I also love tick charts for intra day trading!! I keep a 3 min chart up to left all the time also just so that I do not lose my way with in the big picture. But all my trades are executed on the tick charts. During those times of consolidation you just have to be a little careful so that you do not over trade. They are a lot of fun.
Thanks Kevin and I agree!
Hey Kevin , and for the tick charts , how many you have on your screen and how many ticks are set up 🙂
@@stephennn403 Right now I trade the ES Micro E-Mini. My charts are 2 or 3min chart, a 800 tick chart and my shortest term chart is 150 ticks. Works very well for me.
How are the charts working for you @Hap?
@@kthrapp340 not so well Kevin , I was using 500 ticks as a 5 and 90 ticks for scalping but I couldn't have 90ticks the candles were jumping like crazy when the stock was volatile... So I went back to 1 min 5 min and 1 hour , I was hoping to see more market structure on tick charts cause I'm a market structure trader , but nu way with those candles jumping around like a bunny bunny :/
Thank you for this great comparison of tick charts vs time-based charts. I can now see the value of tick charts for day trading.
No problemo sir!
I use Tick 8 with some momentum indicators, side by side with the chart where I go from M1 to M5 and higher. Except in the most idle time, tick chart shows always much more information what is going on inside M1. For overview of small, midsize and bigger trends I monitor higher TFs anyway, but at least I don't guess what one particular candle is going through (as many professionals), I rather see that closer and more precize and when I need it, I look inside M1 too.
Thank you.
Brian, first rate market surf lessons in finding the best surf board "tick" tools to trade the Index Big Blue Waves. Appreciate the way you prepare and scope the market surf conditions using tick charts just like Laird Hamilton screens the Hawaiian Big Blue Waves before "jumping in to deep waters."
Perhaps, as an observation, imo, add volume profile as tool to the chart as well as pivot levels for the added X-Ray view of surfing conditions and clarity on entry points.
Ty Brian, for sharing your vast trading expertise with fellow traders/"market surfers" across the world on YT. The truth shall set us all free on the market level as well as on the deeper big blue spiritual waves of liberation.
Ready to "duck dive" now and "hang ten" out on the Wall Street surf this morning with my new tick chart surf board.
Pacifico beer cheers. Smashing the like button. New US subscriber.
hahahahahaha thanks Spencer!
To see trend changes, tick charts are better than time settings (esp with Heiken Ashi candles)... but the 1-day ATR setting with range bar charts are even better.
Wow... It will be a game changer for me. Thank you so much for sharing...
I've just discovered the ability to have a 1 day 30 tick chart on ThinkorSwim by using the custom settings. I didn't think it was possible. I am definitely a scalper and find the 1 minute too slow. I'm looking forward to checking out this new chart style.
1 min time frame isn't the lowest available. There are lower time-based time frames.
Very interesting video, thank you. I hope that you will make more videos!
If you make your cursor sync with both charts it'd make it easier to follow. Good video.
Thanks David! I’ll make sure to do that for the next vid
Great video 🤙🏽🤙🏽 good info. For those who want to learn real trading, watch this again.
Thanks AJ!
Great video! Sync crosshairs would have made it even better, imo
For day trading/ scalping I can't live without tick charts. Price action is so much cleaner
@TradeYoYo depends on the instrument !!
This comparison makes no sense to me. The detail level of the two charts being compared is so different that it's apples and oranges. The way to do this comparison is to compare two charts with roughly the same number of bars on them. For example, in this case, the time chart should be a 1 minute, not a 5 minute. The structure Brian is saying can't be seen on the time chart could be just as obvious as on the tick chart if it were a 1 minute.
Absolutely sick video bro. Mad respect 👍
Thanks dude!
great video Mr. Brian, thank you! I've just discovered the existence of tick charts a few days ago since I started reading Bob Volman's book on scalping. I'd like to know, if possible, what platform or software do you use for the tick charts?
Thank you! I use Tradovate and sierra chart for tick charts
It is working well! Thanks for sharing this great information! ❤️❤️
Does it work for stock trading as well?
Awesome Susanna!! Yes I think it can, but each stock is different so you would need to fine tune the tick size for each stock
Interesting. Might be able to use this to help find imbalances also.
Hi mate great vid. Happy I’ve found your page. So for a 1 min scalper how many ticks would you suggest?
Thanks Kev! I don’t usually trade that small of a timeframe, but maybe 25-50 ticks. You probably need to backtest different settings based on the instrument
Gr8 Video !!! Thx a Ton 4 the Post.
No problem James!
Great video with those 2 side by side charts
Thank you!
Thanks for this! Quick question: Can tick charts be used for stocks as well? If so, how do you determine the tick number for your chart?
No problem Scott! Yes Rick charts can be used on stocks. You would have the adjust the number of ticks as needed based on the stock you’re trading by visually inspecting
Can you speak on the different kinds of tick number and what would they be best for
Hey Arzavier! Sure - each instrument is different when it comes to selecting the tick number so it's best to test for each case. It depends if you're a scalper where you would want more granularity by having a smaller tick number, or a position/trend trader where you would want more coarsely by having a higher tick number.
For example a 512 tick chart shows more price action (more candles) than a 1024 tick chart. This could help you identify reversals sooner at a level of interest and keep your risk lower.
Hope this helps!
@@BrianWeber whats a good number of ticks for scalping ? 72?
weeb it depends on the instrument and the closest structure to take profit. But I aim for 20-30 ticks on NQ. More if there’s volatility
Thanks good video👍
thx nicely explained
Thank You
Great explanation! Subbed also because you sound really nice :-D
A question: why we can use tick charts or time charts for indexes and etf? don't the indexes and etf move with the price actions of a BASKET of stocks? even though people buy the etf, it would not affect much how the etf/index move, right?
Hey thanks! You can use tick charts or time charts with ETFs such as the SPY or QQQ no problem. Time charts are self-explanatory, but for tick charts you will have to adjust the number of ticks based on the index's movement to not be too "noisy".
If you buy the ETFs you are in fact buying the underlying stocks per their allocation so it would directly affect how the ETF and individual stocks move to a degree.
@@BrianWeber Thanks for your reply. Could you please explain how you adjust the number of ticks based on the index's movement to not be too noisy?
@@sunflowerhk100 it is a trial and error process to find what works best for you to represent the price action. Less ticks is more granular (more candles) and more ticks is more coarse (less candles).
I also like to implement Range chart in conjunction with a tick & time based chart.
Have you used a Range chart?
Hey Steve! Yes I have used range charts before. They are great in low activity to cut out the noise 🤙
Great explanation!!! Do you know if/how to get a tick chart on Tradingview?
Which soft u use to plot thr tick charts. Please reply❤️
Tradovate or ThinkOrSwim
@@BrianWeber ❤️❤️❤️
Unfortunately tos won’t let you scan using tick. I wonder why 😂. I use 1000 ticks. Too often my scanner will find a stock with high volume 1 million plus and it only has 1 bar on the tick chart.
Hello Brian, would it be possible to use a 233 or 610 tick chart to trade the Forex market and have you ever tried it? Thank you and happy New Year.
Hey John! I have never traded forex but you can always try those tick settings on the instrument you trade to see if you like it. Happy new year to you as well!
How do you know on Tick charts where it has reached the highest or lowest price of the day for intra day trading, so we can take the trade and let it run until the end of the trend where price would reverse. How do you see if there was a previous high where the price retraced to and reversed so we can get in for a long ride on a down or uptrend. Thanks
Hey Sakina. Seems like your question is focused on plotting previous highs and lows from other. trading sessions rather than tick charts themselves. You would have to create a study that plots the high and low prices of the day, previous day, etc.
Great video, for overall market direction would it be better to use a multi time chart in time, or ticks when day trading using ticks charts? Thank You
Hey William. Multi time chart would be better for overall market direction like weekly -> daily -> 4H/1H -> 5min/1min or tick chart
Hey Brian, great video by the way. Just getting started in day trading Futures probably S and P. This research is all a bit overwhelming. Trying to do some do diligence before I jump in. Any courses you could recommend or books every day trader should read? Also, what platform is this? Thanks in advance.
Great content. Thank you.
You’re welcome William!
Was taught futures by a guy who used the 5 minute charts and basically just sat there with his finger on the button. Totally nerve wracking. This shows what's behind the curtain. Thank you
No problem!
Great video
Great video,
Dumb question why 233 ticks instead of say 1500 ticks? or any other value?
Cheers
Thanks Julio! The number of ticks depends on the instrument you’re trading. A good rule of thumb is if you want more granularity in price action, use a smaller tick value.
1 min time frame isn't the lowest available. There are lower time-based time frames. How do they compare to tick charts?
what tick settings that you find best compared to 5 mins?
Hey Mark. It depends on the instrument/stock. But for ES between 500-1000 and NQ half that
Thanks for the video. Can you tell me if it is possible to create alerts on Think or Swim based on the tick charts instead of the time charts? Thank you.
Hey Scott. Yes you can
how do you set up a tick chart in TOS?
Under the chart settings you can configure your favorite timeframes. Tick chart is only intraday I believe
How to enable it on Tradovate
Hell ya, nicely said
Thanks Ben!
Are you still using a 233 tick chart on the Nasdaq Futures?
Hey Tom. I’m using a 512 tick chart right now
Is there a tick counter on through charts that counts down to the end other bar?
Hey Mickey. I believe there is a tick counter in ToS and other platforms like Tradovate and Sierra chart. On ToS my tick counter counts up to the tick size I have set
hey brian great video thank you, stupid question how do you add the tick chart? to TOS
Hi Clarsen. The tick charts are in the same spot where the shorter timeframe chart settings are
Hi there thank you for sharing a great content could I ask sth if you don't mind ?
How do we get tick chart you like you
What platform do you use ?
Thank you.
Hi. What do you mean sth? You can use pretty much any platform that supports tick charts. I use Thinkorswim
Thank you for your replied sth refer to "something" as you can see I'm learning in english so hope you wouldn't mind.
You know the reason that I ask because In this country we don't have much broker or platform that provides tick chart for us to trade so just want some suggestions from you pro.
Thinkorswim that sounds cool !
if you have a platform or any broker more than thinkorswim it would be welcome. ^^
And thx again.
@@เจ้าหวัง oh no problem! Platforms I recommend are thinkorswim, Tradovate and Sierra chart. As far as brokers go, I’m not sure. You can check with td Ameritrade, Tradovate and AMP
@@BrianWeber Thank a lot Brain I will try it open to an international.
can you assist me in this query,
ass that 2 candles in tick chart have same size ( pip movement). both are reasonable size not small or with long wicks.
2 of them took 1 min to form , the other one took 5 min. to form
what would each one means ?
if my question is not clear please tell me to explain more
For SPY 0DTE option trading, what time frame with number tick chart you will recommend it? Thanks.
I don’t trade 0dte options so I’m not sure what is best for this type of trading.
What trading platform do you personally use btw bro
I use Tradovate now
@@BrianWeber Is there any free membership of tradeovate, i only find paid :(
@@GamerAnt007 yes there is a free 14 week trial then after that you have to pay for the data. Cheapest per month is $3 for CME top of the order book. You don't have to pay for a membership unless you want a discount on commissions.
Hey Brian I'm a time base chart trading and huge fan of market structure on 1min and 5 min Chart , if I switch to tick chart will 233 tick chart be 5min on time base as you used in the video and 1 min ?
Brian, I appreciate this nice educational video; had a question, is there any connection between this tick chart and the other type of tick chart like $tick, and when they talk about negative 1000 or positive 1000 tick, just wondering if there’s any connection here.
No comparison with this then with $TICK, ... $TICK for overall market trades on entire stock exchange for multiple stock as opposed to one stock. $TICK is basically number of trades on an exchange as opposed to a particular stock ....
I know this video is a few years old.... BUT why are you using a 5-minute chart, to compare to this tick chart, when it seems pretty clear to me, that you should've been comparing it to a 1-minute chart?.... Ok, so I asked the question a little prematurely but you still should've switched to a 1 minute, because the difference isn't that drastic. And depending on your trading/charting platform, you can drop below 1-minute and go into the seconds. Which is just another way to obtain granularity. And don't get me wrong. I'm not saying tick or time charts are better or worse... I'm just saying that even with a time chart (depending on platform), you can still gain more granularity in the price action, by drilling down under the 1-minute time frame. So one really isn't better than the other.
For 1 minute candle how many tick should be there??
That depends on the instrument. I suggest testing different settings
@@BrianWeber thanks for the reply.. Can you explain in detail
how do I get the tick chart for TOS.
It’s under chart settings where you can set a default tick chart.
Is a tick chart the same as a range chart?
Which platform is best for tick charts
Most platforms have the ability to display tick charts. But ThinkOrSwim is definitely the easiest
@@BrianWeber
I am from india so i dont have acces to think or swim platform but i use tradingview and interactive brokers they dont have tick charts.
what tick size to use
Hi what website do you use to view a tick chart? I can't find a provider!
Hi Jed. Ninjatrader as Fernando mentioned and many other platforms like ThinkOrSwim, Sierra Chart, Tradovate, etc.
TD Ameritrade -- the think or swim active trader also has Ticks that you can create any number of ticks you want
Can we use EMA with tick chart?
Of course
Can you use for futures trading
Yes that’s where I would recommend the most
Tick charts with supply and demand is gold
Does tradingview have tick chart
Yes but I think you have to code it as an indicator
Hey there , are you a tick chart trader day by day ?
500 LIKE mine .
first need to change background .2nd U look like U just got out of BED . now your doing a lot of explaining. what R U using do U have a Script or your trading by HAND . REMEMBER all people R not the same . some think Fast other Don"t . buy the time U figure out what may or may not happen it's to Late brain Freeze happens . NOW if U have a SCRIPT MULTI-STRATEGIES that can be Plugged into the Trading Platform now your TALKING .OTHER THEN THAT GOOD SHOW .