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How to use volume in your trading
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Created: by cunparis Attachments:203

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How to use volume in your trading

  #61 (permalink)
Site Administrator
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cunparis View Post
stressing the importance of not relying on any indicator to tell you what you can see from the charts.

I know my last post may seem like I disagree, but in fact, I could not agree with you more.

I think you know my stance

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

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Last edited by Big Mike; September 6th, 2009 at 06:54 AM. Reason: type-o
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  #62 (permalink)
Trade with the flow
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Heck with it, just gimme an indicator I don't want to do the work!

A previous post in this thread has a little exercise to do. If no one does it then I will take that as no one is interested in truly understanding volume and that everyone just wants an indicator to tell them what to do.

Here's the exercise:

https://futures.io/general-discussion/634-how-use-volume-your-trading-5.html#post5523

While I learn a lot from posting, it is taking time away from my own trading. So I cannot justify it if there is not enough participation.

Also see this post for more on this topic, including my personal experience of losing money. I started it here but it got off-topic and I thought it'd interest everyone so I decided to make a new post:

https://futures.io/general-discussion/695-use-your-brain-mechanical-indicator-based-systems-dont-work.html

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  #63 (permalink)
Trade with the flow
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Big Mike View Post
Since this is a discussion about volume, you may want to check out the OBV Divergence indicator I just wrote, if you are a VIP member (it is for VIP's only).

Your idea is interesting. Unfortunately your example is during a trend day. Any short entry would have been good. Why is it that every time an indicator is posted, a trend day is used as an example?

Can you post a few more examples of how it works on non-trend days? You have to convince people before they fork over a whole $5 for the donation.

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  #64 (permalink)
Site Administrator
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cunparis View Post
Your idea is interesting. Unfortunately your example is during a trend day. Any short entry would have been good. Why is it that every time an indicator is posted, a trend day is used as an example?

Can you post a few more examples of how it works on non-trend days? You have to convince people before they fork over a whole $5 for the donation.

It works well or I wouldn't have wasted time uploading it. I always try to post multiple shots of both good and bad because I hate it when someone only shows the best stuff. For reasons unknown I didn't do it this time, you'll see just a few minutes prior on the Wave indicator I wrote I posted several shots.

As for donations, yeah a few people are mumbling about stuff not being free but I figure I've given away so much that these people can just do whatever... my intention when I make an indicator VIP-only is to give back to those who have supported the site, and NOT to "lure" people in to donating. I'm not directing this towards you, but wanted to just take the opportunity to voice my opinion on the subject of donations since you mentioned it.

I'll post more screens when I have a chance on the thread for the indicator itself, so you can get back on-topic here.

Thanks for the great posts.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #65 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
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cunparis View Post
This is a great question. I never really truly understood volume when using Ninjatrader. I switched to tradestation about 5 months ago and that's when I discovered uptick & downtick volume (which TS supports historically & real time) and that's when I got really interested in volume. I don't currently subscribe to CME data (just the emini) so for trading Euro I'm using Ninjatrader and I'm wondering what to use for my volume.

I'm hoping RJay can come up with something. Sorry RJay I didn't have time to check it out yet, will look at it tomorrow I hope.

My current idea is:

- RJay's Better Volume for NT + some modifications I have in mind
- The VSA indicator
- My Momentum indicator which is based on volume

cunparis,

I confess, I am curious as to how the ported betterVolumeNTv2 file compares to tradestation's version.

I am also interested in the changes you have in mind.

I am also entertaining the possibility that tradestation may not be using the best tick data input configuration.


RJay

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  #66 (permalink)
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cory View Post
I therumpleone talking about volume stop many times, so I check it out. It's at Better Emini website TradeStation EasyLanguage Code: Stopping Volume
I code the indicator with my own spin but I don't know how to draw a triangle and color the volume bar at the same time. This version doesn't color the volume bar. Zip file is at download section.

Hi Cory,

Nice job on this indicator. I wanted to help so I added the bars portion for you.

Attached 1 Minute bars chart and my RangeNoGap bars chart.

Looking Good!!!

RJay

Update, Newer version of file is now located in the download area.

Attached Thumbnails
How to use volume in your trading-stopvolumev2.jpg   How to use volume in your trading-volumestop22.jpg  

Last edited by RJay; September 6th, 2009 at 07:02 PM.
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  #67 (permalink)
Market Wizard
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thanks RJay, learn something new today.
ps. updated VolumeStop v2 in in the download section, I put in more comments and a minor fix in coloring the vol bar, enjoy!.


Last edited by cory; September 6th, 2009 at 02:16 PM.
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  #68 (permalink)
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great indicator thanks for great work would be nice to add a sound alert when an up or down volume occure
thnks again

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  #69 (permalink)
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Cunparis,

"Ask and ye shall receive...."

By the way, the Better volume is starting to make since to me, I had not studied it hard enough. I primarily watch the BV paint bar.

The volume summary chart below is cut out and laminated on my desk, it's a quick reference.

Garry

Attached Thumbnails
How to use volume in your trading-es-09-09-09_04_2009-5-range-better-vol-5-range.jpg   How to use volume in your trading-es-09-09-09_04_2009-233-tick-better-vol-233-tick.jpg   How to use volume in your trading-es-09-09-09_06_2009-better-vol-699-tick-.jpg   How to use volume in your trading-es-09-09-09_06_2009-better-vol-2097-tick-.jpg   How to use volume in your trading-es-09-09-09_06_2009-better-vol-5-min-.jpg  
Attached Files
Register to download File Type: docx VOLUME SUMMARY COLOR CHART.docx (12.3 KB, 197 views)
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  #70 (permalink)
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Cunparis,

Thank you for posting such an in depth analysis and teaching us that know very little.

Several charts were uploaded a short time ago, let me know if you want more and what type of bars.

Garry

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