This question is probably for the traders who trade using volume analysis and setups.
One of the vendors that has been constantly and annoyingly bothering me with emails is TradeGuider. I did check their site out and it looks like they sell a platform designed to conduct automated volume analysis. What are your thoughts about Tradeguider? Has anyone used it? Does it really take out the guess work from volume analysis?
I am pretty sure the Traderguider dudes helped start the ideas behind VSA. I have one of the books he wrote. I think it's Williams? Check the How to Trade Volume thread. Cunparis posted links to his stuff there. I forget which guy it is but he talks about no demand, low volume pullbacks, stop hunting etc. You could probably up it up on filecrop or something.
Then you might want to just donate to the forum and download the gomiladder. Try it out...see if you like looking at the market that way. Then if you still want traderguider you could buy, subscribe to it. I suspect you won't want traderguider after you use the gomiladder but I could be wrong. You could set up your own atm strategy with the gomiladder and voila! instant automated volume analysis. If you can program a strat, even better.
The thing about traderguider is that they use their own software for VSA and made their own bars for looking at close of bar. So you would have to learn that and trade with that software with a data feed like e-signal, IB, or DTN I believe. They also have all the other common indi's on there like macd, stochs, cci, etc. I went to their site after I read the book and it's interesting and has some good information on there but not really worth buying.
I agree with you on the point that one is restricted to their platform, data feeds and brokers, something that I do not like. I do have the william's ebook but never got around reading it. Is it worth a read?
Is gomiladder is full blown indicator or it is a code/script to create volume analysis indicator? If you already have it can you post a screenshot? otherwise don't bother. Thanks.
Tony , check this indi out . Take a look at it then go on youtube and look at what tradeguider is doing because what you see on YT is a glimpse of the everyday TG classroom . Then read " master the markets " if you havent done so . This book is available free all over the place , even from TG . BTW if you dont know already , this book is an advertisement for tradeguider ( for the most part ) . Try it out and maybe youll save $3000 or more . The freebies are always better than the ones that set you back 60 ES points before you even get started .
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Even though I think that the guys over at Trade guider are good, I don't recommend there software. The reason, you just don't need it. I can trade using volume (VSA) alone it's really not that hard. Plus the software signals are a little slow, if you do it yourself you can see the signals before the bar closes sometimes. It takes some time, but its worth it in my opinion. Read Tom Williams book: The undeclared secrets that drive the stock market, it has every thing in it. The main things you use are upthrust bars, down-thrust bars, no demand bars, no supply bars, low volume tests, hidden buying/selling.
Last edited by cbratton; January 15th, 2010 at 09:19 AM.
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There are some sound principles in Volume Spread Analysis. Williams book is the source to read about them.
Tradeguider is a company selling a range of products and services. Their primary objective is to make money for the shareholders. The principles of the company make there primary income from Tradeguider (not trading). There marketing and modus operandi reflects these corporate objectives. Some of there claims and 'shock horror' marketing are demonstrably bogus. Sadly this diminishes the value and credibility of their offerings.
Statistical analysis shows that volatility (range if you like) is quite closely correlated with range. Broadly speaking both look at anomalies in this relationship. VSA is more closely tied in with Wyckoff and is more a broad 'model' for the market. Where as better vol is a (fairly simple) indicator that looks for a couple of specific conditions that you often see at turning points.
I found more indicators here that do more or less what Tradeguider is selling....so yea no need for tradeguider. More beer money . It's time to read the william's book to understand what exactly are the indicators indicating.