How is a daily volume calculated

[Pekelo]

Quote from gnome:

"Shoot the messenger"?

He didn't ask if it was useful, he asked how it was calculated.

 

[Hurricane]

Quote from hughb:

Back in the 90's there was some squabbling between the NYSE and the Naz over volume reporting. The Naz was reporting more volume than the Big Board so the NYSE complained that the Naz was inflating it's volume reporting by reporting a transaction of 100 shares as being 200 shares in that a buyer bought 100 and a seller sold that 100. I don't really remember for sure, but I think the NYSE started changing how it reported volume as well. I did a quick google, but I couldn't find anything definitive in the first few hits.

I think the Naz practice was to double report volume because a seller sold stock to a dealer and then the dealer sold the stock to a buyer. There wasn't the electronic matching of buys and sells as there is today. So you ended up with two separate transactions and the dealer had the risk of ownership like any other buyer no matter how brief a period of time this was.

 

[MaklodaSux]

Well you go to your local library and you look for a book that has it in it you lazy ass.

 

[Syprik]

Quote from gnome:

Good traders don't care. Volume is not reliable.

How about addressing the OP's question? Many successfully incorporate volume into reliable strategies, including myself. Just because you have not found one nor understand how to dissect volume, does not mean they do not exist.

WRT to OP, will try and locate a good article I stumbled upon that discussed this topic. It was a WSJ weekend edition from a few years ago if I remember correctly.