Tick
a.k.a. Price tick
The smallest possible price change in a market, or simply each individual price update.
In plain English
The smallest possible price change in a market, or simply each individual price update.
A tick is the smallest step a price can take. In futures it is set by the exchange; in forex, most brokers quote to a fifth decimal, so the smallest tick is usually a pipette (a tenth of a pip).
Traders also use "tick" for each new price update. A busy market might print dozens of ticks a second; a quiet one, a few a minute. Tick charts plot a new bar after a set number of ticks rather than a set amount of time.
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