What are the best tick chart settings for day trading cryptocurrencies?

3 answers

• Mar 19, 2022 · 3 years ago
  When it comes to choosing the best tick chart settings for day trading cryptocurrencies, it really depends on your trading style and preferences. Some traders prefer shorter tick intervals, like 1 or 5 ticks, for more granular price movements, while others prefer longer intervals, like 10 or 15 ticks, for a broader view of the market. It's important to experiment with different tick chart settings and see what works best for you. Additionally, consider the volatility of the cryptocurrencies you're trading. Highly volatile cryptocurrencies may require shorter tick intervals to capture quick price movements, while less volatile ones may work well with longer tick intervals.
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• Mar 19, 2022 · 3 years ago
  Tick charts can be a valuable tool for day trading cryptocurrencies, as they allow you to analyze price movements in a more detailed manner. When setting up tick charts, you can consider using a tick interval that aligns with your trading strategy. For example, if you're a scalper looking to capture small price movements, you may opt for a shorter tick interval. On the other hand, if you're a swing trader looking for larger price swings, a longer tick interval may be more suitable. It's important to note that there is no one-size-fits-all answer to the best tick chart settings, as it ultimately depends on your individual trading style and preferences.
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• Mar 19, 2022 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, recommends using tick chart settings that align with your trading strategy and goals. They suggest starting with a tick interval of 5 ticks and adjusting it based on the volatility of the cryptocurrencies you're trading. According to BYDFi, shorter tick intervals can be beneficial for day trading highly volatile cryptocurrencies, while longer tick intervals may be more suitable for less volatile ones. It's important to note that these are just general guidelines and it's always recommended to backtest and experiment with different tick chart settings to find what works best for you.
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