Very impressive edge hunter, and you will be happy to know that you are first to be seated in Row 1.
Whilst I will not argue with you, as I have no reason to, and I might well learn from the pupil in this case, as teaching can be a two way thing, all I will say, is that I do not use volume at all, ever !
The only thing that I use for trading is a good old bar chart, the one with the vertical line and the 2 little spiggots sticking out on either side of it.
The little spiggots are very useful for catchin market moves, but only if you understand that they are part of a big family !
Volume is the amount of contracts traded. This is subject to manipulation by those with the deep pockets, so, if they decide to dump quickly, after a sharp rally, then no volume figures in the world will get you back on the right side of that trade, that is if you are on the wrong side in the first place, of course !
I bet this sounds familiar to a lot of experienced traders, for I know it happend to me many times in the past, but now, since I got rid of volume, it is not as bad !
But, we digress. Making money has nothing to do with volume or picking direction. Remember, no matter who, you with your volume readings, me with my spiggots, as soon as we get filled, the price can tick any way, and no matter how hard we try to convince ourselves, this is the hard and real fact about trading.
Hello, did I hear a knock on the door ?
Yes, it is Mr Edge !
Apologies edgehunter, as when I read the post it might look that Mr Edge is referring to you. It is not, it is Mr Trading Edge !
Whilst I will not argue with you, as I have no reason to, and I might well learn from the pupil in this case, as teaching can be a two way thing, all I will say, is that I do not use volume at all, ever !
The only thing that I use for trading is a good old bar chart, the one with the vertical line and the 2 little spiggots sticking out on either side of it.
The little spiggots are very useful for catchin market moves, but only if you understand that they are part of a big family !
Volume is the amount of contracts traded. This is subject to manipulation by those with the deep pockets, so, if they decide to dump quickly, after a sharp rally, then no volume figures in the world will get you back on the right side of that trade, that is if you are on the wrong side in the first place, of course !
I bet this sounds familiar to a lot of experienced traders, for I know it happend to me many times in the past, but now, since I got rid of volume, it is not as bad !
But, we digress. Making money has nothing to do with volume or picking direction. Remember, no matter who, you with your volume readings, me with my spiggots, as soon as we get filled, the price can tick any way, and no matter how hard we try to convince ourselves, this is the hard and real fact about trading.
Hello, did I hear a knock on the door ?
Yes, it is Mr Edge !
Apologies edgehunter, as when I read the post it might look that Mr Edge is referring to you. It is not, it is Mr Trading Edge !
