Mr. Raskolnikov, I use the postulated P-V relation in my own way in the context of support and resistance trading, where it fits in nicely as an indicator of whether or not the potential S or R is holding. But what I do is a far cry from trying to draw sloping lines on volume bars that have a high degree of random content and often erroneous values (typically on the order of ten percent of volume is unreported because the charting algorithms can't calculate it). In an index future the volume at any given time may be totally unrelated to what is happening in the price of the future because of hedging trades in a myriad of other related instruments. Basically what I am saying is that Mr. Hershey has built a theoretical edifice based on hypotheses, not on market reality. That edifice works magnificently under some circumstances where his hypotheses fit, and miserably under others where they don't fit. By the way, this is a fun dialogue. Debating does so help one to clarify one's thoughts. And this is the only place a solitary trader can find someone to debate. Thanks.
Mr. Snopes, very nice to hear you have crafted something that works for you, that is the goal of all traders. Have a nice rest of your weekend
Mr. Hershey's "adherents" are usually the newbie traders who have not yet learned how to trade. It is amazing how little you grasp of the volumes written in response to Jack's delusions. Seriously, you are a featherweight.
Mr. Hershey's "adherents" are usually the newbie traders who have not yet learned how to trade. It is amazing how little you grasp of the volumes written in response to Jack's delusions. Seriously, you are a featherweight. Traders put money in the bank. Idiots want to argue the philosophies of a lonely, elderly attention seeker who wanders in and out of ET, pining for attention and dragging newbies into the mud. You want to argue, get the guru to post verifiable trading results. You want to philosophize, go talk to Ann Landers.
Gee. I do't even rate welterweight? How I do love debating with you, if we can dignify your end as debate. A demain!
Agree. I've never seen Jack mention about risk management or to the least about position sizing. Regardless of the trader's style like discretionary, quantitative, systematic, esoteric, or other styles, risk management is a definite aspect that comes with trading. All trades require 3 info... Data = What you're trading. Analysis = What direction.(Long, short, etc. etc.) Risk Management = Quantity. # of shares/contract.
Sorry. Before you were around, it started out as $INDU: http://www.elitetrader.com/vb/showthread.php?s=&postid=399800&highlight=indu+es#post399800 Need to get caught up on my reading. If you really want to trip out at warp speed sometime, write a jot and tittle of code that lets you visualize guasians at a one second rate. It will also pound into your skull the verity that on the microscopic level price leads volume.