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How to use volume in your trading
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How to use volume in your trading

  #451 (permalink)
Trade with the flow
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GardenGnome01 View Post
Not a reply, more a cry for help! New to volume and price analysis and currently have a provider (ToS) that doesn't offer range bar charts. Downloaded the VSA indicator and been looking at that. Get the Kruger weekly vid too.

On a day like today when trading (in the ES) was relatively constrained-both in price movement and volume I was wondering whether range bars might have helped negate some of the chop.

I personally do not like range bars. You mention they can hide chop. I actually like seeing some of that. i like to see if the market stayed a long time at a price or if it just zipped by. Many like to hide that. Some say one trades price so range bars are built from price only so they make most sense. I can't disagree with that logic.

I particularly like tick bars because they auto-adjust to activity. Less activity = less bars. Kind of like range bars, however what I like about tick is you can see the relationship between open & close which is very important, especially for VSA. dojis etc are all important for me.

Minute bars are fine too. The advantage to minute bars is they are independent of activity. active day? slow day? same setting. but one learns to recognize this with tick bars too. if I have few bars then I know the market is not active. etc.

so no "best" bar type. Just experiment around. I often think I could trade with a line chart. Cause all I really need to know is where is price right now, where did it come from, and which way is it going.

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  #452 (permalink)
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Thanks guys for your insight and advice.

To misquote AA Milne, I am a bear of very little brain and two diffent types of charts bother me. Now I'm not sure if I am better off with candles or ranges! Aargh!

Never mind-I'll get there!

Fingers crossed for tradeable numbers tomorow!!

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  #453 (permalink)
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GardenGnome01 View Post
Thanks guys for your insight and advice.

To misquote AA Milne, I am a bear of very little brain and two diffent types of charts bother me. Now I'm not sure if I am better off with candles or ranges! Aargh!

Never mind-I'll get there!

Fingers crossed for tradeable numbers tomorow!!

Yo!

Sorry to jump in and all, but I reckon time based charts are only really applicable on daily +

there are plenty other ways to look at the market on intra-day timeframes - market profile, market delta / orderbook delta, range/volume bars, line break/renko/PnF... not everybody gives a **** about 5 min candles!

GL 2MORRO!! Private payrolls is the biggun baby!!

CPI

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  #454 (permalink)
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hey Michael, thanks for your posts on volume interesting reading --- i was reading where you mentioned on page /post#436 that you do not use HVC for detecting professional volume that you look at something else --- do you mind elaborating on that or pointing me to an area in the forum where that has been discussed already ---? thanks for the insights in the area of volume...

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  #455 (permalink)
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ValLiant View Post
hey Michael, thanks for your posts on volume interesting reading --- i was reading where you mentioned on page /post#436 that you do not use HVC for detecting professional volume that you look at something else --- do you mind elaborating on that or pointing me to an area in the forum where that has been discussed already ---? thanks for the insights in the area of volume...

My suggestion for those reading this thread is to read my journal here at futures.io (formerly BMT). On the first page I link to the cycle thread, which is really the continuation of this thread. And then after the cycle thread I started my journal. I also have a few other side threads that were about the volume ladder. If you read all that, it will give you the complete & current picture. I know that's a lot to read so if you're in a hurry you can just read my posts to make it quicker but others contributed some great posts so it's worth reading all.

HVC is still a good pattern so there's nothing wrong with it. I just think there is a better way to detect pro activity. However maybe I should look more into HVC now that I've been many months without it.

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  #456 (permalink)
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Im not sure if your question was directed towards me or someone else. I don't think I've ever mentioned anything about HVC... I use market profile, we have HVN, which is high value node, not high volume churn.....

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  #457 (permalink)
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hey thanks for the reply ---
yeah the other michael sorry my question was directed to cunaparis --- should have used that name to specify--- as i am sure there is more than one michael running around :-)

i was mainly interested in how cunaparis detected professional volume without having to use the price volume ladder or another indicator that only plots professional volume when it is live--- as most good volume stuff to find the professionals seems hard to back test as the indicators only work on live volume ---

where as the better volume HVC you can back test --- i use both TS and ninja and i have both TS better volume and better pro am --- and i was just trying to find a good use for it --- and i noted where cunaparis in the begining of the thread said he cant trade without it so i thought it might be worth looking into --- and then where he used something else other than HVC to find out what pros were doing --- so mainly i was looking to see if he had found something that could be backtested that could see the pro volume... but so far from what i have read i need to still keep looking ---

i havent gone through the other posts yet so i am sure there will be some clues in there as well.

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  #458 (permalink)
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ValLiant View Post
where as the better volume HVC you can back test --- i use both TS and ninja and i have both TS better volume and better pro am --- and i was just trying to find a good use for it --- and i noted where cunaparis in the begining of the thread said he cant trade without it so i thought it might be worth looking into --- and then where he used something else other than HVC to find out what pros were doing --- so mainly i was looking to see if he had found something that could be backtested that could see the pro volume... but so far from what i have read i need to still keep looking ---

i havent gone through the other posts yet so i am sure there will be some clues in there as well.

I think you're on the right track (well on my track at least). I stopped using better volume when I got Pro Am. Then I really got into it and made my own paintbar so now I use that, but it's very similar to the pro am paintbar. I also use pro am for the textual patterns.

For backtesting, that's one reason I made my own paintbar so that I could use it in backtesting. I can expose the bar color and use it in strategies. But I must say I haven't really found it useful in strategies. I think it all depends on context which requires discretion.

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  #459 (permalink)
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Michael.H View Post
lynx21 you pretty much nailed it on the head. Everyone wants to buy the low and sell the high. My first mentor told me that your first goal is TRY to take about 30% of the move, then you would be on your way to be considered in the PRO category. I think everyone should take that into consideration....
You try to hit home-runs every time, your gonna have a hard time being consistently profitable. Trading for a living is not to make 100k in one day... Its a grind. Slow and easy, and you will see your account grow. You'll then see that at the end of the week, those profits add up. Then you can increase size slowly once you build your account, then pay yourself weekly just like any other job.
When i first became profitable, my goal was to make a lousy $50 a day, but do it consistently. Once i did that, it increased my confidence, and i knew it could be done. I built my account, increased size, then i started paying myself. If you can make even $20 a day consistently, then your on your way. Think about that.

Well said and I would like to say also that do not think about the dollars you should think about the ticks you do. Money comes when volume comes to your trading account.

SG

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  #460 (permalink)
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Great Thread


Hi cunparis and all the other traders. This is one of the bests thread that i ever read. Everything it has something to do with volume is great. I just have a couple of things to aggregate to this Thread. take into consideration those things.

Options levesl and options close days
Best price of yesterday, actual week, week before month and last month
psicological levels


And use all that you learn fron this Thread, and find great volume on this areas, but not all of them.
And you will have sure whem the price touch the last week price or other psicological price with a big volume right...
Just test and see for your self. Pips for all.

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