Trading Tick Charts

[N Rothschild]

No one on this forum talks about tick charts, they are far more powerfull than time based charts!

Here is a trade that just happened. I didn't take it as i dont day trade anymore, but im bored so thought i would show others.

On the 512tick we have prices making new lows, with rsi deivergence. not bad technical set up right?

well add in the matrix, first screen shot you can see how much more there was on the bid than the offer. there was quite alot of buyers interested in this new lows (and lower). couple that with the divergences on the rsi and the tick chart. a good long set up!

The exit, the offer was pretty weak up untill about 1203 which is where you could have bailed as more selling interest came in. the market has since pulled back from here.

not bad 25-30 pips for very a very easy set up. you can do this ALL day long.

 

[N Rothschild]

lets try a short here with the same setup.

 

[N Rothschild]

sorry for that bad qual imiages dunno why its going that

 

[N Rothschild]

well looks like that last one hasnt worked out, nevermind!

 

[N Rothschild]

lets see if we can run higher!

 

[N Rothschild]

well that one did work either! maybe this is why i dont day trade?

either way have a play around with tick charts/rsi and depth of market..can show u alot more than normal time charts

 

[MrGecko]

this is Goldman

EDIT: Because they are being sued by the SEC I mean

 

[N Rothschild]

here was perhaps a better example than the last 2

 

[N Rothschild]

this is Goldman

EDIT: Because they are being sued by the SEC I mean

yes was quite a dump there

the one thing no chart can show you and demonstrates why those "trades" got ****ed.

news.

 

[N Rothschild]

had to swap that last pic out, just realised it revealed my posistioning strat lol, hopefully none of u noticed

anyway thats 2 winners, 2 loses..from a **** day trader..im sure some of the better day traders on here could do much better than me at this setup, but its still a very good setup

 

[MrGecko]

re: Tick Charts - I prefer Volume charts if you can get 'em, but agree they are better for short term trading... one caveat is for trendlines - trendlines need alot of people to see them to work... volume/tick/range bars screw up the x axis and subsequently the angle

re: Market Depth... most people I know that use market depth / market delta / orderbook delta say that, as a general rule, "price trades to size".. search DCraig1's posts

 

[MrGecko]

Similar setup in the EuroStoxx

each bar = 2000 contracts

Higher Low here would validate the setup IMO. I'm not taking it because I'm celebrating something and have had a beer, but here it is anyway.

 

[HawkTrader]

had to swap that last pic out, just realised it revealed my posistioning strat lol, hopefully none of u noticed

OMFG Thank God I saved that pic.

I'M GONNA BE RICH!!!!!!!

 

[N Rothschild]

only if you know how why and when

 

[HawkTrader]

only if you know how why and when

Gutted.

 

[oildaytrader]

Do divergence indications work?how , when and why?Pleased about this discovery.