what is a "Tick'?

Hi,
I have several times come across the word"tick". Can someone please explain in simple terms whats a tick? And when someone says something like keep the SL 5 ticks below low, what does it mean? Would it mean 5 rupees below?


Regards
Krist.

1 tick means minimum movement (or steps) of stock/tradable instrument. For nifty futures, the movement is 5 paise.
So when u read 5 ticks below low, it means 25 paise below the low price.

For stocks it could be in steps of 1 paise, or 1 rs. or some other number.

hope this helps.
happy trading

Thank you.
This helps a lot.

So when we say "Tick Volume" and "Tick data", do we mean volume at price traded in steps of 5 paise for nifty?
Regards
Krist

It means Volume traded at each "tick"...need not be 5 paise necessarily...it can be greater also!

e.g Suppose 1 lot of Nifty is traded at 5600 at a particular time during the day...the volume traded at the next tick(i.e. the next traded price) can be 2 lots i.e. 100 at 5600.30!

Hope it is clear!

deleted...correct answer posted abv by anayash

I am sorry but I didn't quite understand what you mean.
Since I am a newbie, will you please explain a bit more?
I suppose you mean to say its a chart with 1 second timeframe?

regards
Krist.

what is a pip in forex...is it 1 dollar or what......or like different for different pairs......as people say i made 100 pips etc.....

Understanding Pips In The Forex Market

To forex traders, everything revolves around pips.

"I'm up 35 pips for the day."

"I made a 127 pip profit on my last trade."

That's great, but what's a pip?

Pip is short for "percentage in point" and you may sometimes hear people refer to pips as points.

Put simply, a pip is the smallest unit of price for a currency. It's the last decimal point in exchange rates or currency pairs.

For most currencies its 0.0001. So if you bought USD/CHF 1.2475 and sold at 1.2489 you made 14 pips.

One common exception is USD/JPY. In this currency pair there are only two decimal places so a pip is equal to 0.01.

Dear Krist,
Go through babypips.com....