precisely, trader225, and step right up...you've just won a signed copy of "the japanese chart of charts." also, of course, siddhartha learns of the worthlessness of gurus.
Does it have something to do with 1) the direction of price change 2) the extent of price change 3) volume
Tortoise, what have you got against me? I am old. I am better read than you, but I have forgotten most of it. I am bringing value to ET. I certainly have slept with more women than you have. Why is it that ET resents anyone who tries to improve the lot of the common trader? And I am still waiting for an explanation of how you match my feat of picking exact tops and bottoms. Perhaps we could form a trading partnership, the Tortoise and the Hare? I am getting so creaky and decrepit that I qualify for the latter role.
225, my faithful Sancho Panza! Or was that Pancho Sanza? Tortoise could tell us. The invention has solely to do with volume. It is a very sexy way to make those treasured volume nipples stand out.
Assolutely! The market is just a worldwide inkblot. Now, given a choice of gurus, who ya gonna follow? The guy who sees math in the markets, or the guy who sees sex? OK. Here's hint. ET is sooooo slow. What is bar volume? The sum of all orders transacted during the bar period. What are those orders? Market buys and sells. So why do we code price-up volume bars green and price-down volume bars red? Because traders are a herd and demonstrably most volume during a bar is buys or sells. Trust me, I am the world's most accomplished tape reader. It's not little shits like you and me making that volume, it's mostly big prints. So what's my invention? (Hahahaha! Rumpeltforeskin is my name! You will never guess! Haha!)
Could it have something to do with stalagmites or stalagtites. You can rememember which are which by, in the words of an anonymous National Park Service Guide, observing that "stalagmites" contains the word "mit" and stalagtites contains the word -- well, won't go there on a family board.
Bravo! You have renewed my faith in the Socratic method! (Why didn't I use Socrates to start this thread?) Down breasts should hang down!
I have not fully decided. My volume interpretation codes are usually a coin toss. My day-to-day operating position is that you can't trade volume alone. Or price alone. Or both together. Something far more subtle is required. Which is emerging. If you will forgive another literary allusion, it is the nagual which reveals, not the tonal. The quantum, not the macro. And much as he tries to distance himself from the "conventional orthodoxy", my favorite ET poster is blindly rooted in it. Edit: this post responded to a poster with second thoughts who deleted his post. The gist of the question was "Do you trade price or volume?"