I believe that "order behavior will tell you.."
Agree with all the rest.
Why doesn't Al Brooks use volume analysis concepts?
- Thread starter Saigyou_123
- Start date
Agree with all the rest.
Whatever works for you....we are all different and we all have different trade plans.
You are better man. Than me. I burned it much before chapter three.
I have Al Brooks trading course. It is video. Very good course. In video 2B he says that as a day trader, volume and price action combine rarely during the week to give set ups. Price action itself will give far more good set ups. He doesn't care what volume is because volume is as likely to trick him into not taking a good trade or taking a bad trade. Price is truth. Brooks says. He gives many examples of volume misleading in that video.
Volume is transactions. Transactions are buying and selling. Heavy volume can take place and price barely budge. Almost every bar of the 81 5m bars in ES will have a lot of buying and selling. Both bullish and bearish pressures are ALWAYS present on every bar. It is far more important what price does than what volume does. Once buying and selling dries up price will probe and move to where MORE transactions will begin another round. Volume is an indicator and a leading indicator as such but it is not necessary for successful scalping of 1 to 8 ES points and often it can trap a trader who is relying on it.
The price/volume relationship is a chicken/egg issue.
A quoted price means nothing without volume generated at that price. Such a situation may be seen as a proxy for further price discovery. Alternatively, volume generated at any price, including zero/free/no price, may be seen as proxy for further price discovery.
The machinations of price and volume are inextricably linked. Yet the two data points can be analyzed and/or used separately.
If you don't eat yer meat, you can't have any pudding. How can you have any pudding if you don't eat yer meat? ~Pink Floyd
A quoted price means nothing without volume generated at that price. Such a situation may be seen as a proxy for further price discovery. Alternatively, volume generated at any price, including zero/free/no price, may be seen as proxy for further price discovery.
The machinations of price and volume are inextricably linked. Yet the two data points can be analyzed and/or used separately.
If you don't eat yer meat, you can't have any pudding. How can you have any pudding if you don't eat yer meat? ~Pink Floyd
Coaching amigo, came down to coaching. Which is why Saban will have a statue and Orgeron will be a footnote. A prime example was deciding to go for it at 4th and goal from the 4 against the Tide D when a field goal (from one of the top kickers in the NCAA) would have made it a 3 point game. That 3 point differential came into play when we stalled on the last drive within our kickers range. Just too many dumb decisions.
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