Help me stop obsessing over TICK charts! | Traders Hideout


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Help me stop obsessing over TICK charts!

  #18 (permalink)

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TraderJohn66 View Post
I am scalper obsessing over whether to use TIME, TICK or VOLUME bases candles. I understand the benefits of all three but what I don't understand is why so many people use seemingly random TICK settings. At least in a TIME chart there are just a few common time frames like 1M, 5M, 15M etc.

Could someone please give their insight as to wether or not TICK charts are even necessary?

To comment on one part of your above post regarding...
Quoting 
seemingly random TICK settings

Many traders make use of the Fibonacci sequence to set the tick amount per bar.

0 1 1 2 3 5 8 13 21 34 55 89 144 233 377 610 987 1597 2584....etc --->∞

https://en.wikipedia.org/wiki/Fibonacci_number

Ron

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