Linda Raschke – Intraday trading with the Tick

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Author: Linda Raschke

Linda discusses five choice trading patterns she uses. Based on a logical set of market principles, these five patterns work equally well in equity and commodity markets. Understanding these enduring market setups provides you with a solid foundation for trading technically. They simplify analysis for the beginner and give the aggressive trader added confidence. Linda has used these patterns as the core of her intermediate-term analysis but they work well on any timeframe.

Intraday trading with the Tick

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Trade on the tick

A tick is an upward or downward price change. For some securities, such as futures contracts, the tick size is defined as part of the contract. For others, such as stocks, a tick can be anywhere from a penny to infinity (at least in theory).

You can also calculate the tick indicator for the market as a whole. (In fact, most quotation systems calculate the market tick for you.) The tick for the market is the total number of securities in that market that traded up on the last trade, minus the number that traded down on the last trade.

If the tick is a positive number, that’s good: The market as a whole has a lot of buying interest. Although any given security may not do as well, a positive tick shows that most people in the market have a positive perspective right now.

By contrast, a negative tick shows that most people in the market are watching prices fall. Sure, some prices are going up, but unhappy people outnumber happy ones (assuming that most people are trading on the long side, meaning that they make money when prices go up, not down). This shows that the sentiment is negative in the market right now.

Linda Bradford Raschke is an American financier, operating mostly as a commodities and futures trader.

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