Volume analysis is to be discarded as it is "too much information"

OH I think the guru is morphing into a chicken

 

Just sold 1K LVS @ $10.5401

Profit $573.20 less comm

Time 9:37:13 EST

Want me to prove it Sir?

Now I am going to work.....


RN

 

As far as I am concerned this matter ends here


Now I would now like to respectfully and humbly sit down, shut up, and return back among the rank and file (my friends here)


Fully knowing nothing has changed…..

I am still just a dumbass trader – who has no idea what the market will do next…., Nor do I care… I’ll just trade it – and either lose or make money


Tara – Thank You Kindly


IMHO – PA coupled with volume analysis – at times – works…. However – as with all things – each trader’s mileage may vary



Regards

RN

 

Redneck trader, your conduct in these forums is most becoming. We may disagree from time to time, but you're a gent. We both know that neither of us can draw any meaningful conclusions from a only handful of trades. However, just out of curiosity, let me ask you this: If you had simply disregarded volume from your setup criteria, would you have fared better, worse, or about the same over the last several trades? (The number of which will depend entirely on your willingness to indulge my request.) Might you have taken more losing trades, or perhaps missed out on other potentially profitable setups had your volume criteria not filtered them out? Essentially, a quick-and-dirty cost-benefit review of including/excluding volume in the mix as it pertains specifically to your own trading.

 

You give up easily RN

jjf

 

LOL

When Redneck called-you-out for talking shit about his trading account, you went and hid in the fucking corner. Now that he's done with you, you can't wait to log back on to ET and start talking shit again.

Congratulations, you get the TROLL AWARD for the month of August.

 

+1

 

T-Dog


Thank You for the very kind words Sir


Honestly in day trading I use it very – very sparingly – but do I use it consistently in my swing and investment accounts


I see volume analysis as a tool no better or worse than any other tool – and not to be relied on any more or less – than any other tool I use

And you know the old saying Sir - It works till it doesn’t


I use it for

1.) Ensuring enough intraday liquidity

2.) Possibly identifying; “V” reversals and or exhaustion gaps/ capitulation

3.) Helping me assess whether to stay in a trend a little longer (in all three accounts)

So I do use it…



Would I have faired any better with out it – I don’t know… It just gave me that little extra umph to get into the LVS swing position in my day trading account.

BTW – I fully admit I broke one of my rules by swing trading my day trading account – man ego is such a bad thing….



On my platform

I consistently have price in different time frames and an EMA

I turn volume on / off sporadically to see what I see – at times I get a read, other times I get nothing


Going back over the last ~500 day trades stats… I’d say I’ve used it ~15 – 20 % of the time, – and my W/L ratio is about the same with or without it (maybe a frog’s hair better with it).

Take Care
RN

 

Thank You Sir

 

Thanks, RN. As I noted earlier, I found no discernible value in volume with respect to my own trading. That's why I'm curious how other people's performance would have varied had they excluded volume from the mix, all else being equal.

I hope other traders who look at volume will take the time to make a critical assessment with respect to their own trading method and report their findings.