the wizard may be a bright guy in other aspects of business, but marketwise, these ideas just don't fly--other than to the complete marketnoob--as the rhetoric sounds sensical if you dont understand how markets really work. surf
In trading and financial history, volume came to the fore quite early. The OP introduces a by product of the main theme of using information to make money, namely indicators. Trading's and investing's bottom line IS determined by results. By converting raw data into informational degrees of freedom, there is an empowerment to become more effective and efficient on the way towards becoming optimum. It is axiomatic that the avaiable maket raw data be used. It is also encumbent upon the critical thinker using his intellect to work the opportuntiy (or problem as such is called in science) to follow the unversal path to a solution that has utility. What emerged long ago was the hypothesis set that governs the operation of financial markets. Attendent to the set was its measure (parametric). Anyone can do as they please. And most have. Those who followed the scientific path, were constrained by the method and had to follow the rules of scientific discovery. There wre few people who did this in the financial industry. The financial industry went in another direction. As is seen the rewards relat to any industry that is based on fees and commissions. Volumes place has been accorded largely by it's relation ship to fees and commissions. There is still the matter of the science of markets and how the hypothesis set and its parametric measure could be determined. That was done and it was not used further by most. The OP does enquire about a matter he deems important and it is a matter that is cardinal among the myths of the makets (CW myths): using volume to predict. Science concludes prediction is not required. But the science does create a means of predicting using volume. The thread already raised this prospect. If making money by using market information were the main subject, then it is possible to focus on the market's offer instead. "Charts" posted a matrix of volatility and volume which is a look up table from two months of data at a 1600 bar total from a given fractal. Someone standing on his head said it looked like a sunset. The "OMG" that accompanied the post of the matrix makes the point that the chart is orderly and informative. I reviewed some Excels that deal with assorted degrees of freedom and I tabbed the role of volume. I also looked at related logic sheets and surmised the role of volume. The dull and dry working results are that of 31 lines of data output (the almost raw information fed to logic and Excel) that 11 of 31 lines are used for volume. The remainder are price developed. For logic, somewhat over 10% of the flow sheets are volume based. The role of volume is faily well defined. It serves to steer and focus what is being considered at any particular time the non stationary window for trading is always open to the future. Just a volume leads the price in NOW where all trading takes place; volume serves to move the left side of the non stationary window forward in time as trading logic processes what is still pertinent. The OP's indicator reference has little or nothing to do with trading.
In his essay On Bullshit philosopher Harry Frankfurt of Princeton University characterizes bullshit as a form of falsehood distinct from lying. "The liar, Frankfurt holds, knows and cares about the truth, but deliberately sets out to mislead instead of telling the truth. The "bullshitter", on the other hand, does not care about the truth and is only seeking to impress."
They are great for observing order flow, otherwise there is essentially no difference between them and the minute bars. But when he starts talking about Physics as it relates to intraday trading (Big LOL), along with pretending that his trading is perfect (while never making a Live Call or showing his Blotter) over the intervening years, while we continue to have the same-old-same-old arguement, it's really just a waste of time and actually pretty boring. Coupled with all the other nonsense he's pulled (insults, threats, name calling) as well liberal use of multiple-alias, he's [ProfLogic] really just a TROLL who continues to populate the Trading Boards in search of fresh meat. Yuck!
Yeah, I amazed that one still continues to post his nonsense at all on these Boards also. His method has been debunked as nonsense, his traders are ludriciously bad and they've spent all their time learning something which is essentially useless and non-actionable in the trading arena. I'm going to rename the jack hershey and ProfLogic followers, The Loopy Crew (you know who you are). It fits pretty well.
What the hell do you know? You're just an ignorant toady who licks the boots of some plagiarist phony who pretends he's a general but in reality doesn't understand what a chart is.
LOL, you mean this guy who put on a Short trade today with his Market Call as the market was rising?? I'm pretty sure that's a multiple-alias for ProfLogic. It would be great if a Moderator could confirm that information. :eek:
Really, posting a chart doesn't prove anything. Answer the question. If you aren't using an accurate charting software the volume bars aren't correct.
No, I can imagine you aren't a waiter, to much education needed for that, you're a Busboy, I was a certified chef from Hilton. I also have and IT degree. Does that piss you off too.