Does volume matter?

Scataphagos said:
Even that is a BS notion. To "know the volume", you have to wait for the "bar" to be completed, right? Is that daily bar... an hourly bar... a 5-min bar? Whatever it is, at best it's a LAGGING "something" (I don't want to use the term "indicator" here.. or ever). If you're any good at the markets, you'd catch your signal from price... before anything you think you might get from volume.)

I don't know where the Hell the notion of "price and volume" ever got started. Whenever it was, it was WRONG... just as it's wrong today.

(Ya think I'll "burn in Hell" for my bucking of conventional wisdom and TA heresy?) :)
More...
Yep that lagging thing can really mess you up in several ways. Algos or discretionary. A lots of folks get around that issue by using slightly proportional time frames, e.g. 4 min instead of 5. Been there, done that. Volume to me is data, like price action and other "price" things. It is not separate, but for lack of a better description partially derivative.

I think it got started with the old (1930's) classic tape readings, Rollo-tape Wykoff etc. But wouldn't they be blow away on how far trading technology has changed!
 
Scataphagos said:
That's the "conventional wisdom"... but it's not true. It shows "whimsy" and "knee jerk" mostly. Neither is reliable about future anything.
More...
Yep it is so easy to game. It has been in the news. It took the feds so long to finally fine them for the order book spoofing. And the spoofing was old news last century.
 
People saying no were enable to profit from it.
People saying yes were/are able to.

You have to find your own way.
You have to do your homework.
 
easymon1 said:
What Products and vol Settings do you look at?
More...

Currently only YM.
Basically looking at the volume gives me an orientation of what the price could do but this is not always accurate because institutions accumulate at various levels before the price turns.
Volume is not the holy grail.
I compare it with the salt in food, with salt the food tastes better, the more nuances the better.
However, in the end what commands is the price.
If the price does not go in the expected direction you have to exit.
I think I will finally stay as I am using time and volume bar graphs at the same time because the view is more complete.
 
trader1974 said:
Currently YM
More...
Hey man, we all got to explore what works for each of us.
Take whatever feedback is helpful and practice due diligence.
Set chartbooks up for volume bar charts, range bar charts, point and figure charts. A lot of traders do. Look at all of them.
So back to my question, what volume numbers do you plug in to your ym charts when you watch them live?
 
I don't use fixed numbers.
It depends on the market conditions, but I usually do something that looks like 60, 15, 5, and 1 minute but with volume bars.
 
during fast markets aproximating a 1 minute chart sounds interesting.
Those baby's can mos def get a move on if the vol number is too low, lol.
What works for you for one minute approx on ym say between 9:45 and 10?
Do you use fibonacci multiples, or how do you go about selecting the numbers.
 
You must log in or register to reply here.
Back
Top