Don't quite understand tick

Hi, I don’t quite understand the nature of a tick.

First, I read from several sources and it seems there are two definition:

1. A tick happens when either bid or ask price or both vary of at least the minimum value (1 pip).
2. A tick show the update in the prices after a trade happen.

If I combine both ideas then it would mean that a trade will always result in a change in either price, which I am not sure is true. Can someone verify if either idea is true.

Thank you

My understanding is that a tick is a change in price no matter how big or small the change. Not necessarily minimum of 1 pip but most brokers have minimum price change of 0.1 pip.

I think generally, a tick in forex represents the minimum price change (on the right side of the decimal point). I think it updates regardless of whether or not you enter a trade. So if the price of EUR/USD changed from 1.1716 to 1.1712, you have 4 ticks.

I think there’s also such a thing as bid tick, which could be closer to your first definition.

A tick is the least cost fluctuation. Eg: If the EUR/USD moves from 1.36543 to 1.36547 this is 4 TICK, 10 ticks in Forex equals 1 pip (Applicable to majors)

@jonandthink - Your answer # 2 is the closest I can see on this thread -

Here’s a book based on tick charts - which are smoother and more logical since a 70 tick candle may print in 30 seconds or 2 hours - his other book is based on teh same principles but relates to 5 minnute charts for those of us who do not have free access to tick charts.

I understand 1 “tick” to represent a single transaction - so 70 transactions takes as long as it takes - then prints a candlestick.
.

[Edit the small increments of pips - ie 1/10th of a pip are called “pipettes” - ticks are something different - effectively I think what the old master “tape readers” - like Livermore, Wyckoff and their contemporaries used to “Feel” through their fingers !

If you go here
.

and open up some of the images - you can see what a 70 pip chart looks like

It’s the smallest change in price to the right of the decimal.