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TRANSCRIPT
With Trader Tim Racette of EminiMind.com
Day Trading With Tick Charts and Heikin Ashi Candlesticks
What You’ll Learn…
Why Tick Charts & Heikin Ashi Candlesticks are so great
How you can quickly identify a change in momentum
How to get in (and stay in) a trade
About Me
Trading since 2006
Trade stocks, options, and futures
Contributor to SFO Magazine, Money Show, Active Trader
Speaker at Traders Expo’s
Mountain Biker & Adventure Seeker
What is a Tick Chart?
Time frame
Based on # of transactions
Faster forming bars mean more volume
Derived from price
What is a Heikin Ashi Candlestick?
Similar to traditional candlestick
Except “open” price starts from midpoint of prior candle
Color coded bars give clear direction
Trend change is obvious
Traditional Candlestick
Heikin Ashi Candlestick
The Ultimate Duo
Combining 512 tick chart + Heikin Ashi Candlestick study
Great visual representation
Easy to identify changes
Traditional Candlestick
Heikin Ashi Candlestick
Identifying the Trend
Market structure Made up of waves
Driven by human behavior
(emotions: fear, greed)
What makes a trend? Uptrend
High after high
Downtrend
Low after low
Getting in the Trade
1. Wait for break of swing high/low
2. Draw 50% retracement
3. Place limit order at 50%
How to Stay in the Trend
Initial stop below 61.8%
Trail stops
Option1: Trail each candle
Option2: Trail each swing high/low
Summary
1. Tick Chart + Heikin Ashi provides clear visual cues Identify the trend
Identify the change in trend
2. Enter at onset of new trend 50% retracement
3. Trade management Trail stop outside each candle
Or trail swing lows/highs
One Final Note
No shortcuts or substitute for screen time
Work smart, be patient, stay disciplined
EminiMind.com/festival
Complete guide to Tick Charts & Heikin Ashi Candlesticks
Presentation slides
Trading Rules for the ES & 6E
Thank You!
More at www.EminiMind.com
Tim Racette Sincerely,