"Bars" are merely "chunks" of (streaming) data. The pace of volume is something you might want to consider to help remove the idk belief.
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How to read this VOLUME chart ?
- Thread starter etradeqeko
- Start date
"Bars" are merely "chunks" of (streaming) data. The pace of volume is something you might want to consider to help remove the idk belief.
true..i did give a chart or two....but what took me ten years to understand i cannot explain to you in few minuteswithout detalization sounds like dogma
my apologies
without detalization sounds like dogma
If you are truly interested, do the work. There are people around here who can help. Otherwise, whatever works for you is what you should do. Volume usage is not for everyone... due to preconceived beliefs, notions, and experiences, perhaps from unrelated or ill-founded origins, will never be viable within a persons trading plan.
Good luck.
i am reale real
to be real means to reason realistically
for me this means (for me only, i do not postulate anything):
1. leading indicators, if exist, are not avialable for retail teader with less than million $ deposit. volume included.
2. smart money activity firstly seen on price action and only after that on secondary indicators. volume included
3. realistic intraday trading strategy should have 4-6 ticks average trade. this means one can follow smart money but do not compete. if the average trade is not more than 6t one cannot turnover volume bigger than average volume on DOM and still be profitable
all the 1 2 3 points above are not absolutes and should be percieved with constructive criticism especially #3
i am open to any ideas but proven and logical, not dogmas
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you should not take notice of volume all the time, according to Tom Williams but see or focus on volume as the markets breaks support or resistance levels or breaks into 'new ground'.1. leading indicators, if exist, are not avialable for retail teader with less than million $ deposit. volume included.
there are a lot of finer points which have to be digested and that takes time patience and market experience.
the only way is to trade these concepts with money and then learn from the experience.
forums are a poor substitute for on the job experience.
get on the job and enjoy the journey!
i am real
to be real means to reason realistically
for me this means (for me only, i do not postulate anything):
1. leading indicators, if exist, are not avialable for retail teader with less than million $ deposit. volume included.
2. smart money activity firstly seen on price action and only after that on secondary indicators. volume included
3. realistic intraday trading strategy should have 4-6 ticks average trade. this means one can follow smart money but do not compete. if the average trade is not more than 6t one cannot turnover volume bigger than average volume on DOM and still be profitable
all the 1 2 3 points above are not absolutes and should be percieved with constructive criticism especially #3
i am open to any ideas but proven and logical, not dogmas
Ok. What you got to lose?
Working through examples in order to strengthen self-perception would be opposite of dogma in fact.
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you have to understand what role each facet of the market plays and it's importance and place in the larger scheme of things:laying too much and wrong emphasis on any one thing be it ellliot waves ,momentum, any indicators or fib, is injurious to your trading health.
or even volume trend lines, data reports or indeed, anything else: a multi dimensional,balanced, view is essentialyou have to understand what role each facet of the market plays and it's importance and place in the larger scheme of things:laying too much and wrong emphasis on any one thing be it ellliot waves ,momentum, any indicators or fib, is injurious to your trading health.
Just for fun I put volume on my chart and started watching it a bit over the last week in CL and NQ. The only thing I notice is that there will be a large volume spike on a 1 minute candle and this will usually be followed by a short term pull back and then price will continue in the initial direction. This spikes happen at s/r levels which can be found by looking left. The thing is this is only good for scalping because this information is not enough to know if this will be a trend reversal or just the start of a pull back. At this point profit taking becomes an issue and you either have crap R/R or you loose.
I think its better to use an indicator to gauge market momentum (which measures interest or volume indirectly) and trade based on that along with price action. I removed the volume off my charts.
I think its better to use an indicator to gauge market momentum (which measures interest or volume indirectly) and trade based on that along with price action. I removed the volume off my charts.
nothing is as simple as that:you have to co relate the amount of volume to the range or spread of the bar.if there is high volume but no movement of price then that move will go in the other direction.Just for fun I put volume on my chart and started watching it a bit over the last week in CL and NQ. The only thing I notice is that there will be a large volume spike on a 1 minute candle and this will usually be followed by a short term pull back and then price will continue in the initial direction. This spikes happen at s/r levels which can be found by looking left. The thing is this is only good for scalping because this information is not enough to know if this will be a trend reversal or just the start of a pull back. At this point profit taking becomes an issue and you either have crap R/R or you loose.
I think its better to use an indicator to gauge market momentum (which measures volume anyway) and trade based on that along with price action. I removed the volume off my charts.
but you have study the basics first..learn the abcd... and then try to make sense out of the [volume] language: it took me a month of trading daily with it to get the hang of it but it is useful for scalping; i once got 27 pips profit out of an hourly range of 20 pips;that is how precise you can be with it !
but it is a discretionary system not formula based and so you can get a win rate of 100% or 0%
anyway i am not going to try to convince a lot of people .....i am not getting paid for it
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