Jump to content
Sign in to follow this  

Ask, Bid, Mid price setting on chart

Recommended Posts

Howdy folks! Maybe I'm opening a can of worms -- in my head. 🙃 As I was looking for a volume tick chart on the IG online platform (is there one?), I've just noticed the Ask, Bid & Mid price settings. It is set to Mid. Is this best? 

From my research opening and closing prices are Mid price anyway, whereas highs are usually Ask, and lows, Bid.

Any advice would be appreciated. 🍻

Share this post


Link to post
35 minutes ago, eloronz said:

Howdy folks! Maybe I'm opening a can of worms -- in my head. 🙃 As I was looking for a volume tick chart on the IG online platform (is there one?), I've just noticed the Ask, Bid & Mid price settings. It is set to Mid. Is this best? 

From my research opening and closing prices are Mid price anyway, whereas highs are usually Ask, and lows, Bid.

Any advice would be appreciated. 🍻

Hi, to open a long trade you buy the ask price and to close that long trade you sell at the bid price, the mid is just a reference between the two, the difference between the two is the brokers markup. You are best to have the chart set to mid but be aware it won't show exactly where the in/out of the trade was activated.

Tick volume shows the number of orders processed but not the size of each, the online platform shows actual volume as taken from the exchange if there is one, FX must use tick volume as there is no central exchange. A tick chart just shows orders as they are matched and the resulting price change.

 

Share this post


Link to post
1 hour ago, Caseynotes said:

Hi, to open a long trade you buy the ask price and to close that long trade you sell at the bid price, the mid is just a reference between the two, the difference between the two is the brokers markup. You are best to have the chart set to mid but be aware it won't show exactly where the in/out of the trade was activated.

Tick volume shows the number of orders processed but not the size of each, the online platform shows actual volume as taken from the exchange if there is one, FX must use tick volume as there is no central exchange. A tick chart just shows orders as they are matched and the resulting price change.

 

Thanks so much for the explanation, I better start flicking between settings. 🍻

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      7,259
    • Total Posts
      36,008
    • Total Members
      46,032
    Newest Member
    Stonesfield1
    Joined 21/08/19 07:18
  • Posts

    • Mercury, of course, how you label your wave counts is entirely up to you. Corrective waves (according to EWT) are in the following form: ZigZags, Flats (Regular & Expanded) & Triangles. Complicated corrections are usually a combination. A common one is a double Zig-Zag. Triangles can often found in wave 4 or B but never wave 2. Motive waves are usually pretty simple to spot even for a novice. The problem always occur with corrections in my experience. Knowing the substructure count is critical in that respect. ZigZag (5-3-5), Flat (3-3-5), Triangle (3-3-3-3-3). There is often an alternative count (although one will always be preferred) and only subsequent price action reveals which is correct. There are a few rules, but really not many, and some guidelines. With respect Mercury there is no rule nor guideline that I have ever seen that says "the move does not penetrate above the previous high" for a corrective wave!! For those that don't have the time nor inclination you can subscribe to various services. In the hands of an expert, when combined with Fibonacci ratios, trend lines and sentiment indicators it is, IMHO, a powerful tool. 
    • Actually I thought Corrigan was pretty good and pretty much spot on in his general take on a multitude of economic topics, there was no political agenda and of course it was his view so to get balance -er, find someone else with a different econ view?
    • Good piece on copper here from CME focusing on it's strong links with the Chinese economy and the very low current implied volatility. "Copper closely tracks growth in China, yet copper options prices tend to be closely related to U.S. monetary policy. How will Fed rate cuts impact the metal? " https://www.cmegroup.com/education/featured-reports/coppers-options-paradox.html?utm_source=twitter&utm_medium=social_post&utm_campaign=economic_research&utm_content=20190618_hp
×
×