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Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
Short on time now but I would say volume is probably the most important thing need to worry about. It's amount of speed of lack of volume lack of speed location of volume. Volume at price needs to be studied I think that is volume on the y-axis of the chart at each price level. Volume will tell you were value was on the chart price is just an advertising mechanism for value price is trying to trick you value doesn't trick you value is volume grouping. Sorry no time right now.
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Thanks again. Agree volume is important. I don't see it. What indicator should I use with futures, 1-min, /ES, and NT7? Goggle this and there are way too many replies.
other than volume /Gomi foot prints, Jigsaw tools, Cory's volume stuff/ and Price Action Swing indicator. Also you shall not look at 1 minute charts at all, rather range bars or renko bars /Unirenko is a good start/ to filter out noise which is very important when you are still relative new. If you are trying to learn TPO info I'd suggest Peter Reznicek /shadowtrader.net and also on tasty trade daily via thinkorswim/ and of course James Dalton who is Peter's mentor.
What I suggested above it is too much at once but you shall pick one area and focus on it for months. Also you HAVE to read through Big Mike's thread when he "travels" from trading via indicators than loosing them all.
Eventually you have to develop yourself to a discretionary trader where you can filter out loosing trades with a greater success.
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
On the surface perhaps volume may seem 1 dimensional but hidden within this first impression is the concept of value and the auction process. Volume per time unit is helpful but volume per price level offers IMHO an astounding level of insight In to the workings of a market. Any market. Next time you are in the grocery store think about it and view yourself as a customer AND a supplier. I keep and eye on Kerry Gold unsalted butter . Love the stuff and love Ireland. The store I shop most at, Mariano's, has a high price but TraderJoes cross the street has a better/good price. So it moves more there. More volume. Mariano's price has been coming down and I bought one to show to them they are on the right track. But I bought, I think it was 12, at TraderJoes. If you graph out the price and volume of Kerry Gold butter at the two store with volume at price what would it look like?
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
As usual here I don't know where or how to reply on this site, or really where to find messages. I find the whole forum very non-intuitive. I'm sure its my bad. I suppose volume per price level s most important. I'll try to google that. While I'd like to read here I just don't know how to navigate well. Hope this comes back to you okay. I didn't get the butter analogy. Sorry.
I guess my message got to you, but still have difficulty navigating here. Wish we could just read and send messages. I googled Volume At Price (Volume) Indicator here. Ninjicators looks to have a good one but I cannot understand what this is or how to use. Over my head.
I've been exploring Volume at Price indicators and came across TAS , would you think GOMi would be a better place to start (and doesn't cost an arm and a leg). I'm considering an elite membership- would you guys also suggest any of those indicators as well for VAP?
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
I would recommend becoming an Elite member of FIO. There's so many way to benefit as far as learning this business. The absolute best deal available in trading by far. My only regret is not getting involved in a big way sooner. I personally have not used Gomi but I would absolutely say it's the best way to go as far as volume profile from a cost point of view with an Elite membership. A smart step in keeping your costs under control for this business.
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)