Hi Gerard,
Tuesday, September 12, 2006, 7:33:13 AM, you wrote:
GC> Yuki
GC> As one who has always had considerable difficulty incorporating
GC> volume usefully into any of my trading strategies I would second
GC> Ken's motion.
GC> My strategy has long been to check vol level at entries. If volume is
GC> up, that's good! - that helps confirm the entry.
GC> If it's not up, or in fact down, who cares?
GC> Any light you can throw on the subject would be appreciated.
As I say, it's probably a matter of time frames. One day's volume is
pretty meaningless, although one day's volume should, under certain
circumstances, cause a symbol to be glued to the radar screen. But no
major market advance of any consequence, none whatsoever in the
history of equities anywhere, ever, comes without an obvious and
marked increase in volume over the period that preceded it. These
advances are also the easiest times in which to make a quick killing.
Can one make money ignoring volume? Sure. I have very short
patterns that ignore volume. But this is grinding it out, and quite
frankly, is not for the inexperienced or faint of heart. When volume
comes into the equation is when small fortunes are made -- and I
don't mean out of big fortunes, either. ^_^
It is because the easy money is made by observing volume, quickly
recognizing when it is screaming, and acting on that recognition,
that no one should ever be told to ignore volume. Volume is usually
*not* screaming of course. It takes patience and experience to
differentiate the real from the imagined. But it *always* screams
eventually, and this is *always* when the low hanging fruit is
begging to be picked.
One can certainly trade without it. It's just not as easy, and one
won't trade as often. As I say, many lack the patience.
Yuki
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