Big Mike's Trading Blog

Day trading futures, discussing money management and trade management techniques, and more

Poll results: Favorite Chart

Below are the poll results for "Favorite Chart", which is now closed:

I really found this poll interesting.  I know it couldn't encompass everyone's desired answer, but I was shocked to find the overwhelming majority selected such a small time frame -- 233 tick.

I want to hear from you!  Post your comment and let me know why you choose the time frame you did, and what other chart time frames you look at when making your decision.  Personally, I tend to trade off a 5 range or 6 range chart, looking to a 5 minute chart for confirmation.

There is a new poll up, please cast your votes!  The new poll asks you to select the closest risk/reward ratio that you trade with.  For instance, 1:1 ratio means you risk 1 dollar for each dollar you win, say for example a 8 tick stop for an 8 tick target.  A 2:1 ratio would mean you risk twice as much (16 tick stop, 8 tick target, for instance).  Let me know!


Mike

6 comments:

Anonymous said...

I prefer 4 and 6 range personally, but use 233 for possible re-entry on overbought/oversold situations.

Anonymous said...

I prefer a 3000 volume chart on the ES.
I have used tic charts in the past including a 233t...just like the volume charts right now.

Anonymous said...

HI Mike, did you get my post here from yesterday?? Re. PRC etc? Email me direct if you wish at: jacquesnz@gmail . com

alleillo said...

Why 233 and not 222 0r 33333 or somethind else?

Big Mike said...

Hello alleillo,

The number 233 is not random, it is a fibonacci number. They are quite popular in trading.

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

Mike

Anonymous said...

This post is directed toward an earlier post about creating a tick database.

ICE Futures is for a limited time offering their historical tick databases for free. These databases normally cost thousands of dollars to purchase....Bryan R

Post a Comment

Note: Only a member of this blog may post a comment.

Platforms/Indicators

BMT - Traders Hideout

BMT - Programmers

BMT - Psychology

BMT - Journals