Scalping using a tick chart vs. standard candlestick chart

Re: Scalping using a tick chart vs a standard candle stick chart

Exactly Timmy, live feed is completely different to downloading daily data once per day. You should even see tick by tick updates on a daily candle if you have a live feed.

Re: Scalping using a tick chart vs a standard candle stick chart

Timmy said:

Maybe it depends on the software you are using - if I have a 15-minute (or whatever) bar/candle chart running on live prices on the charting software I use the final bar/candle (on the right edge of the chart) does update very tick. So while the bar is forming the 'close' price is changing (running up and down the bar/candle, or extending the bar/candle) as new ticks come through, until the 15 minutes (or whatever) is complete then the last price tick in that 15 minutes (again, or whatever period) is the final 'close' price and then a new bar/candle starts to form.

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Yeah exactly. And that is how Oanda works--the broker that I quoted the pics in. And that's why i looked at the discrepency between the bid price in the actual quote vs the actual bid price shown in the chart and there is like 50pips/points difference.

lol, imagine trying to scalp the spi and being 50pts wrong if you were looking only at the chart for your price and making trades directly from the chart

Anyway, I have gotten around all of that. I use FXCM for the tick chart and make my entries and exits off the tick but I look at the candle charts in oanda for trends and basic analysis.

I notice that MT4 seems to update the live stream of the current candle accurately--unlike Oanda.

Re: Scalping using a tick chart vs a standard candle stick chart

Trembling Hand said:

In fact that ain't trading. its never alright to have a stop 2 times your target.

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Had any luck with the TP = 5, SL=10 system - Wysiwyg

I mean, if its making $$$, then its definitely something to be considered.