Range Chart - number of ticks for day trading - NinjaTrader | futures io social day trading
futures io futures trading


Range Chart - number of ticks for day trading
Updated: Views / Replies:1,951 / 12
Created: by eone Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Range Chart - number of ticks for day trading

  #11 (permalink)
 R.I.P. 1969-2016 
montreal quebec/canada
 
Futures Experience: Beginner
Platform: CQG/NT7
Broker/Data: IB/AMP/CQG
Favorite Futures: CL
 
Okina's Avatar
 
Posts: 2,149 since Sep 2015
Thanks: 758 given, 5,415 received

There is no good or bad answer to your question.

As for myself I never change the setting of my range bar but I use standard deviation to set the level of my exit signals.

I do not pretend to have a good solution but the one I like is to use a variable moving average based on standard deviation and I add to this VMA a specific number of standard deviation on it (it is a kind of homemade bollinger bands). The VMA get shorter as volatility rise but at the same time the standard deviation get bigger so I have an exit signal that adapt to the market volatility but not too much. If you use for example a regular MA your exit signal could be far away when you have a spike in volatility. Some people will like that some as me do not like that. Make some test and create your own indicators it is easy and it is worth trying.

You will also see that is you plan to trade with RB a lot of indicators are not really adapted. You will have to create your own.

It also a very personal point of view but I think that trading with your own indicators help you greatly to build your confidence.

R.I.P. Olivier Terrier (aka "Okina"), 1969-2016.
Please visit this thread for more information.

Last edited by Okina; February 21st, 2016 at 12:07 AM.
Reply With Quote
The following user says Thank You to Okina for this post:
 
  #12 (permalink)
Elite Member
Detroit, MI
 
Futures Experience: Master
Platform: Sierra Chart
Favorite Futures: NQ, CL, ES, GC
 
Posts: 59 since Jul 2011
Thanks: 8 given, 49 received


eone View Post
Thank you Babool,
Much thank you.

May I ask how you measure volatility?

Well, I don't exactly measure it but I look at my chart and ask myself two questions.

1) Is the chart moving to fast to trade..meaning that by the time I am able to react to my method entry that price has moved so far away or to close to my first partial target that i can'/wont take the trade.

2) Is the chart whipsawing moving up and down and looking like a jumbled mess ? Slowing the chart down by going to a larger range bar or increasing a time based bar (e.g. going from a 3 minute bar to 9 minute) will add clarity.

Depending on the method you trade volatility may or may not be a factor in your decision making. For example if your a market profile trader and your putting a buy order in at a 50% retracement of B period in order to attempt to participate in a possible range extension to the upside volatility may not be a big factor for you as your order is a resting order and your stop would be under the current day low. If your a daytrader trader that attempts to trade pullbacks in the direction of the trend using range bars, volatility will be an big factor in your decision making because of the size of the range bar will have a great effect on the number of trades you take, your target, your stop loss, etc.

Hope this helps.


Last edited by Babool; February 21st, 2016 at 10:25 AM. Reason: add
Reply With Quote
 
  #13 (permalink)
Market Artist
Portland, United States
 
Futures Experience: None
Platform: Private
Favorite Futures: ES, CL, GC, Currencies, Bonds
 
Posts: 169 since Jun 2015
Thanks: 943 given, 123 received

Answer
This post has been selected as an answer to the original posters question Answer



eone View Post
What is the ideal number of ticks on a Range chart for day trading?

It's all personal preference. So how do we figure that out? It really depends on what you want to see.

Smaller Number of Ticks = More Detail

Larger Number of Ticks = Less Detail


So for slower markets like the ES you'd probably want to play around with 1-8 tick range bars. For faster moving markets like CL check out 1-14ish

Personally, I like to use a 1 tick and 3 or 5 tick for the ES. I use the 1 tick to monitor the micro swings and the "health" of a trade's location. The 3-5 is my main chart which I use to draw Volume Profiles on. I only scalp for 1.5 or 2 points.

Reply With Quote
The following user says Thank You to Portland for this post:

Reply



futures io > > > > Range Chart - number of ticks for day trading

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Sierra Chart sound alert every 'x' ticks (range) to gauge momentum Big Mike Sierra Chart 18 May 31st, 2016 06:13 PM
Indicator for counting number of ticks/point between 2 points zbear NinjaTrader 5 February 11th, 2016 03:05 PM
Can NinjaTrader provide data on the average number of ticks a trade moves against me? RMorgan NinjaTrader 2 July 14th, 2014 07:49 PM
number of ticks in a bar/ms timestamp ? sam028 NinjaTrader Programming 15 September 21st, 2012 08:50 AM
Previous Day OHLC for Range Chart? essiar NinjaTrader 2 October 15th, 2009 11:28 AM


All times are GMT -4. The time now is 08:59 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-11 in 0.09 seconds with 25 queries on phoenix via your IP 54.83.122.227