Quote from Buy1Sell2:
Most would call me a discretionary trader. It's a question of semantics.
As far as volume goes, it is an additional piece of info that can be misconstrued so easily, it will have you sitting on your hands or trading in the wrong direction more often than you would like. The more info you have MIGHT be better when making a decision, but it also adds to the number of things that can be interpreted incorrectly. Example: "we just went up on low volume, this must just be short covering" --Rubbish. It could be anything, including a breakout. This is why volume is so subjective. I stick with price and mathematically calculated indicators--they are much more probable to give me the correct answer.
How is volume "subjective" and not "mathematically calculated"?
I would argue that volume and price are equally subjective and objective. After all, there are no sure things in this business, other than taxes on capital gains. Looking only at one and not the other gives one only half the picture.
