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Volume matters but it by itself is far from the keys to profitability. Could you trade solely on volume? I guess you could create some kind of algo strategy to profit from it. Market profile and volume profile are not mutually exclusive and I could make that case that Market profile works and Volume Profile works. All one needs to do is visually backtest charts.
Volume/market profile, pivots, emas, footprints, orderflow, etc. are all tools. Nothing more, nothing less and some tools provide more value in certain situations than others. Any given combination of them can work and not work. The trick is how you use the tools and the information you interpret from them.
To put it another way, could you become an NBA player with just a jump shot? Let's say you even had an amazing jump shot but everything else about you was average or non-existent. I would make the case that you are not an NBA caliber athlete. The key to that kind of performance is in how it all comes together in one cohesive system in real-time. Trading is similar in that it too is a live performance that requires all the elements of your trading to come together.
So then one might ask, why do some tools work sometimes and not other times? This is what trading is. Nothing works 100% of the time. Even if 2 patterns are identical, the trading moment is unique and therefore can have different outcomes for any possible reason. All you can do here is control what you can control, which is your risk and psychology.
In trading, shortcuts lead to the longest path possible.
amazing post. One of the better ones i have read in a long time.
Yes absolutely Volume matters. If someone says it does not....respect that too. Can one be successful without Volume...yes that too is possible. There are many paths to Rome
Volume is Volume...does not matter Vol prof/mrkt profile. Volume in true sense feeds everything we know in trading such as T&S, DOM, Profile, etc etc ...< everything is a volume play. W/o Volume there is no market.
Its the astuteness of an individual who understands and can utilize volume either for intra day or Swings. However Volume as we know is mainly coming from the profiles, vwaps, OBVs kind of thing. However Volume even in these come from a much deeper level. Very few will pursue as there may be no indicators...however there will be reference in literature's/white papers as academicians are always on the cutting edge of any trading related reference or technology.
When one can dissect Volume << they understand Market and Microstructure....they know why a volume came...what PA did...what is the next logical thing. Then comes Risk Mgt and any other correlations which one wants to do. If I may it is the holiest grail. Hence one cannot find it as there is no indicator
cheers....buddy good post. I had to pitch in my 2cs....as i think what you said is so true.
I agree. I have an excellent jump shot already. Now I am looking to wrap more game around it. High volume areas seem to have trade able plays everyday. Find high volume and geometry areas together and you have something.
