[statsign]

Each tick is seen in RT charts regardless of bar interval - one tick charts are useless 99% of the time for chart watching price action.

[BlowFish]

Originally Posted by statsign »

one tick charts are useless 99% of the time for chart watching price action.

They might be useless for 99% of people or even 99% of applications but not necessarily 99% of the time. Mind you the types of trader that are analysing tick by tick are less likely to use charts at all so perhaps your are right

I think its probably up to the individual trader to define their terms. For example sampling the data into bars and taking trades based on levels that those bars reveal is the essense of price action trading to me. Bars (to me) are indicative of price but not indicators per se. Filtering or using other derivatives of price are not 'price action' (again only to me). Frequently traders who use derivative methods will still use price action as a component of there trading. e.g. when there awesomo oscillator is saying sell they might still use a bar break out to trigger.

[Head2k]

Sevensa is often rough, but perhaps it can be helpful (though I am not sure if that's his intention). If you honestly answer to yourself the questions he asks, you might get a better insight at what it is that you are looking for and why. And maybe make some conclusions. Or not.
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AFAIK, DbPhoenix started trading off 1 tick chart some time ago. But it is not the only chart he uses. He does his prep on CVB charts (finds S/R), then he watches 30 s or 1 min chart for overview of intraday moves and then he uses 1 tick to watch action in the areas of his interest. AFAIK he used 5 s chart before he started to use 1 tick.
Unfortunatelly, DbPhoenix hasn't been active on TL for the last 3 months. But you can find his insights in his blog and in Wyckoff Forum.

Regarding definition of PA trading, I think the core meaning is to base your trading decisions on watching demand / supply changes at key areas. You determine S/R and you watch traders' behavior when price gets there. How they push to get through, how hard sellers and buyers try and what they achieve. And your task is to determine the point of victory of one side, that is the moment when the other side is done, exhausted, and gives up. And to determine the key zones of S/R, a PA trader usually uses AMT (auction market theory). Or at least that's how I see it.

[statsign]

If a tradable has enough liquidity to be worthwhile for trading then there are often 1000 ticks at the same price and more often hundreds of ticks moving around 2 to 3 minimum movements making one tick charts nothing but horizontal lines most of the time.

Price movement confirmation of some indicated state is a good point.

These are tough topics. Trading futures or options is the way to go.
Equities are illusive to many of the tactics posted here. Because:
How much volume is just shaking for rebates? (most?)
How much of the price move is directed from flash reading and front running?
etc. These things have ended trading careers.

[ochie]

Originally Posted by statsign »

If a tradable has enough liquidity to be worthwhile for trading then there are often 1000 ticks at the same price and more often hundreds of ticks moving around 2 to 3 minimum movements making one tick charts nothing but horizontal lines most of the time.

Wonder if that small tick chart used in conjunction with a significant move on a CVD plot at a key predetermined S/R level might bring that flat line more to life?

Also, I've seen interesting uses of tick divergence (for Equity Futures) in these situations. As mentioned previously, see Wyckoff forum.

[wrbtrader]

It's important that Jumper understands (I'm sure he does) that there is no "one size that fits all" for the definition of a price action only trader. Also, I myself don't think a definition is important unless we need to label ourselves for discussion purposes.

I myself use second charts (20s and 30s), 1min, 2min, 3min, 5min, 15min, 60min and daily charts as a price action only trader. I tend to go with the lower chart intervals (second charts and 1min charts) during extremely volatile price action and when I don't want to hang around too long. However, if there's one chart interval I've used more often than the others it's the 2min chart and not because it has some sort'uv advantage (it doesn't)...I use it more often than the others out of habit and that could be due to space limitations of my monitors (how much information I want to see).

Important stuff to me are volatility analysis, supply/demand analysis, support/resistance zones, intermarket analysis, japanese candlestick analysis and global economics to prevent tunnel vision. Each one of the things I've mentioned can be broken down into sub-categories and I've used the same thing +25 years except for japanese candlesticks (early 90's). I studied price action for about 5 years prior to my very first trade. I'm not into DOM, tick charts, indicators, moving averages nor volume in my own trading. I'm not saying the stuff doesn't work...I just don't use them and you may see me post charts about such (rarely) in reply to someone that does use it.

Jumper made the comment that "no one is willing to share anything that will actually make a difference".

That's a matter of perspective because I've seen lots of sharing here at Traderslaboratory.com and other discussion forums that some find the information very useful while others don't. For example, I mention I don't use volume. If someone shares methods or trading tips involving volume...it's not going to make a difference for me because I don't use it nor will I be interested in such conversations. However, someone else that does use volume may find the information being shared very useful. Simply, it's really just a matter of perspective based upon our interests, beliefs, experiences about what's useful.

Once again, there's no one definition and every price action only trader I've met uses something different or something with the same label but in a different way in comparison to another price action only trader.