How to read this VOLUME chart ?

Here's my bottom line, in case anybody cares.

Volume is at best, coincident. At worst, misleading.

While "volume" is considered the Holy Grail of trading... and any contrary view is trading heresy.... including volume in your trading decisions can only HARM your results. (In your efforts to "screen out losing trades because of volume considerations", or "confirm what you hope to be winning trades", you will also screen out waaayyy more profits than your "profit screens" saved you from losing trades.)

Let stops control risk, not "volume screens".
 
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Scataphagos said:
Here's my bottom line, in case anybody cares.

Volume is at best, coincident. At worst, misleading.

Including volume in your trading decisions can only HARM your results. (In your efforts to "screen out losing trades because of volume considerations", or "confirm what you hope to be winning trades", you will also screen out waaayyy more profits than your "profit screens" saved you from losing trades.)

Let stops control risk, not "volume screens".
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i appreciate your point of view which may well be right.....it may be a difficult way to trade
 
I don't pay attention to volume but do use tick charts which reflect the pace of price development.
 
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padutrader said:
i appreciate your point of view which may well be right.....it may be a difficult way to trade
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It's not a "difficult way to trade". Adding volume to the mix of trading decisions can only harm results. You don't get paid for being "in tune" with volume. You get paid for being in tune with "price".

In some earlier post, you inferred you were trading with $20 Million or more. Is that your personal money? OPM? I ask.. and please don't take offense... but for someone with that much capital to trade, you posts seem... how can I put this... naive?
 
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speedo said:
I don't pay attention to volume but do use tick charts which reflect the pace of price development.
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Tic charts are fine. (Personally, the shortest time frame I use is 1-minute... almost the same market story told, but much easier on the hardware.)
 
Scataphagos said:
Tic charts are fine. (Personally, the shortest time frame I use is 1-minute... almost the same market story told, but much easier on the hardware.)
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I have 3k-9k-27k on the ES which account for reasonably paced charts.
 
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