Daytrading- Big Picture and Volume Analysis

Quote from shortorlong:

Ah, I posted the question to the NT guys and got a response (great service always over there).

orders that occur between the bid + ask do not get plotted on the buysellvolume histogram. That is what is happening there.
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OK.
Firstly, how much volume can you squeeze between the bid and ask on ES rth.

Secondly, I have counted back similar volume bars on both Ensign and NT and they occupy the same time spans.

Finally, the NT volume histo is stable but the bid-ask is woobly so I do not think we have been offered an acceptable solution by NT.

So I am left to conclude that NT bars are OK for ES at least.

regards
f9
 
Quote from shortorlong:

Actually, VOL is okay, but BuySellVolume (real time) is not okay. I guess it depends on which you are using.
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For clarification -

NinjaTrader Volume bar charts have equal volume for each bar. Quick example, if you have a 500 volume bar and a tick for a trade size of 1000 comes in, you would get two bars.

The BuySellVolume indicator is an indicator that plots volume >= the offer and <= the bid. Volume in between is excluded. If we included the "in-between" volume then this indicator is of no value.
 
You guys need a hobby. :)

I have no problem with others using what in their minds works for them. We all will agree (or should agree ) that as we progress we see more from less.

We all have seen golfers never get to par, we all have went fishing and got skunked, we all have been turned down for dates, we all see professional baseball players strike out, football pros fumble the ball, as guys we have been misunderstood by women, in job interviews we were passed up because the other guy seemed to be the better fool the company was looking for. The list is long.

But whatever we did, as time went on we either failed or we got better. I hold out hope that the volume users will use less and less as time travels on. Before all the dribble we have today at our fingertips how the the big winners in days gone by make so much money? Personally computers made great advances in trading but also made the game very complicated for the misinformed.
The real question that should be asked and given considerable consideration is : IS ALL THE INFORMATION usefull?

You know my answer. Why do some come up with more than is necessary?
 
07-21-08

We came into the day monitoring the tight 1260-1250 consolidation area.

Price opens up above with absolutely no volume confrimation (right), and this sets the stage for price to drift back into, merge, and slightly widen the overall consolidation area.

So we go into Tuesday with two merged consolidation days, and this continues to set the stage for a nice eventual breakout that will tell us a lot about where the big picture is headed next.
 

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simply amazing there big boy, simply amazing.


<a href="http://www.sweetim.com/s.asp?im=gen&ref=11" target="_blank"><img src="http://content.sweetim.com/sim/cpie/emoticons/000201C8.gif" border=0 ></a>
Thats the best ya got?
 
Quote from bighog:

You guys need a hobby. :)

I have no problem with others using what in their minds works for them. We all will agree (or should agree ) that as we progress we see more from less.

We all have seen golfers never get to par, we all have went fishing and got skunked, we all have been turned down for dates, we all see professional baseball players strike out, football pros fumble the ball, as guys we have been misunderstood by women, in job interviews we were passed up because the other guy seemed to be the better fool the company was looking for. The list is long.

But whatever we did, as time went on we either failed or we got better. I hold out hope that the volume users will use less and less as time travels on. Before all the dribble we have today at our fingertips how the the big winners in days gone by make so much money? Personally computers made great advances in trading but also made the game very complicated for the misinformed.
The real question that should be asked and given considerable consideration is : IS ALL THE INFORMATION usefull?

You know my answer. Why do some come up with more than is necessary?
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Bighog,

You are absolutely correct in striving for as simple as possible. For me, my execution now consists of price and a few moving averages at thats it...Ive stripped away everything else.

I just happen to find value in knowing the bigger picture condition of the market I am trading in, thats all.

Ive been studying market profile from the beginning, and for a long time it was tricky to know excatly how to put it into practical use, but now I see how a lot of the intiating and responsive price activity forms much of the support and resistance in the market, so I dont think thats too terrible to try to get a handle on.

Someone messaged and reminded me the classic market profile axiom which is so true. "Price advertises, volume confirms and time regulates."

But getting away from the slogans, wasnt it of value today to know we have a strong breakout coming from Fridays consolidation, and when price opened above consolidation today with no volume confirmation at all, it lead to us staying in consolidation for the rest of the day?
 
07-22-08 Pre-Open Comments 6:00 am Price=1250

Although this looks like a big gap down, at the moment we are simply at the bottom of 1260-1250 consolidation area...We had a false break up on low volume yesterday, and we'll have to see if the same happens today on the downside

We do have nice resistance at the 1256 area inside oonsolidation (from the patient buyers yesterday) if there is to be directional movement today, but we still need to keep a close eye on if this is going to be a 3-day merge of overlapping value or not?

From a Big Picture standpoint, we start with a down bias, which will stay in force as long as 1256 area holds to start, and then we will monitor how price moves relative to this 1260-1250 consolidation area.
 

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Looks like pompous explanation of nothing more than simple support and resistence. Correct?

The more you explain and come across as Mr Niceguy to detractors such as myself the more you confirm that all the dribble about volume etc is just pompous junk. Correct?

What is your mission? Support and resist is known by everyone out there, some use it better than others but that is what makes a mkt and different traders will always have a different level of expertise. I see no point in trying to help you correct your ill advised ways because you and only you know what you hope to accomplish. It sure is not learning to trade.

Time to prepare for some bacon slicing today. Enjoy

Bumper sticker: http://bumperstickers.cafepress.com/item/pompous-jerk-sticker-bumper-10-pk/263368719
 
Quote from bighog:

Looks like pompous explanation of nothing more than simple support and resistence. Correct?

The more you explain and come across as Mr Niceguy to detractors such as myself the more you confirm that all the dribble about volume etc is just pompous junk. Correct?

What is your mission? Support and resist is known by everyone out there, some use it better than others but that is what makes a mkt and different traders will always have a different level of expertise. I see no point in trying to help you correct your ill advised ways because you and only you know what you hope to accomplish. It sure is not learning to trade.

Time to prepare for some bacon slicing today. Enjoy
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Extremely think sliced I see.
 
Quote from bdon:

Volume. Ha. Its supposed to provide a key to direction, but since the majority waits for it, it get exploited and used.

Electronic trading was supposed to allow for more volume and less volatility. Instead it leads to more market manipulation than ever.
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Yup you know it alot of wash trading these days thank god the SEC is retarded and doesnt understand anything about trading so the big boys can keep pumping cash out of the technical newbs haha.
 
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