Do you need volumes in Forex? - page 4
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What do quotations have to do with it? Quotes (price) are secondary. Bids (limit and stop orders) are primary in the market. They are used to move the market. And it requires considerable material resources in times of high liquidity. In a thin market, it is cheaper to move the price. As proof of the high costs of price shifts, I can find the volumes that the BOJ (Central Bank of Japan) trawls during currency interventions. And you say "someone wanted to change the price". That requires a huge number of REAL bids by market participants who stand in the way of the shift.
Banks do not fight each other, why should they? :) A bank must (by order of its client) execute a currency exchange operation, and it does it. They carry it out with the one who is more profitable at the moment. Why do they have to fight and find out who has more liquidity? Their goals and objectives are different.
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OK, this is all theory and has little to do with our work.
I think I wrote that it is not about fighting and trying to cheat or outbid everyone, but about buying/selling the volume they need. The specifics of Fx is that the main liquidity comes from a small number of large banks and that in their quotes they focus on each other - the smaller ones on the larger ones, as well as the opportunities to pursue their own interests (buying/selling). And of course, if a bank wants to change its quotes, it will change them, just like any other trader can change e.g. buy/sell orders. Only the impact on the market is different.
The first statement is basically correct, but still the assumption that tick volumes are somehow related to real ones and can serve as reference points on intraday ranges is not meaningless ....
And the second ...... it depends - in particular, on what a trader knows how to do with them, how to use them;) ..... if nothing\ever - then, yes, the information is useless, as well as any other information with which it is not clear what to do, how to use it...
Good luck.
for example:
in one dealing - 5 ticks per minute in the other 50 ! so what ??? what does it say ?
what does it say ?
the real TIC is just a counter of changes of quotations.... no information about the number of lots and direction
i.e. the dealing gave a quote change = tick
5-digit market will have 10 times more ticks than 4-digit ones
discreteness is higher there!
dealers which have FILTERS coarser will have fewer ticks - than those with softer filters
i.e. allow more price changes!
think logically - use logic!!! What good will it do you!?
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Volume Indicators - they don't look at ticks, they look at lots and direction!
the real volumes in forex are not transmitted, they can only be given within a particular exchange ...
and may contradict for example - the total volumes of ALL market!
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say, roll the dice and if the sum of the dice gives an even number - then buy, and if the odd - then sell
and believe me - there will be people who will say that you just have to know how to use it!
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the stars - some people are predicting price movements too!
some even make good predictions! ( especially on history )
You took one phrase out of context. There was more before it:
Now, this "Electronic Broking Services (EBS)", which thousands of traders use, describes only a small cross-section of the foreign exchange market. Because there are much more traders on the market than thousands, and there are institutes, which trade much larger volumes than traders.
So I was just talking about data from liquidity providers
for example:
one brokerage has 5 ticks per minute and the other 50 ! what does it say ?
what we are talking about !
the real TIC is just a counter for changes in quotes.... no information about the number of lots and direction
i.e. the dealing gave a quote change = tick
5-digit market will have 10 times more ticks than 4-digit ones
discreteness is higher there!
dealers which have FILTERS coarser will have fewer ticks - than those with softer filters
i.e. allow more price changes!
think logically yourself - turn on your logic!!! WHAT WOULD YOU GET!? where is the benefit of such a surrogate?
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Volume Indicators - they are oriented not on ticks! but on the lot and direction!
real volumes are not transmitted in forex, they can only be given within a particular exchange ...
and may contradict e.g. - total volumes on ALL market!
---
let's roll the dice and if the sum of the dice gives an even number - then buy, and if the odd - then sell!
and believe me - there will be people who will say that you just have to know how to use it!
--
the stars - some people are predicting price movements too!
some even make good predictions! ( especially on history )
Why so many words? If you don't use the tick volume, you don't need it, it doesn't tell you anything - and good grief with it ... Does anyone force you? .... What gives me ? I can show you ;) .... Yesterday's day on EUR realtime - projections of possible reversal zones - the main work on the breakout from the zone, or rather: breakout, comeback and entry on the pullback with a short stop ... Stops are from 5 to 20 pips ;) .... The zones and their assumed relevance time are shown. Just did not attach it to that post:
All this on tick volume and minute volume analysis t\f....
Good luck .....
ZZS About the stars was amusing. You may think how and why the support/resistance levels appear and how by the character of price movements you may determine the levels for placing large orders ..... And one more thing: with correct analysis the price image is the same for any brokerage company and it doesn't matter what filter is switched on there..... The only thing that slows down this kind of analysis is frequent changes of intraday filtering algorithm ....
Why so many words? You don't use tick volume and you don't need it, it doesn't tell you anything - so what if it does? does it force anyone? .... What does it tell me? I can show you ;) .... Yesterday's day on EUR realtime - projections of possible reversal zones - the main work on the breakout from the zone, or rather: breakout, comeback and entry on the pullback with a short stop ... Stops are from 5 to 20 pips ;) .... The zones and their assumed relevance time are shown. Just did not attach it to that post:
It's all on tick volume and minute volume analysis t\f....
Good luck .....
ZS About the stars was amusing. You may think how and why the support/resistance levels appear and how by the character of price movements you may determine the levels for placing large orders ..... And one more thing: with correct analysis the price image is the same for any brokerage company and it doesn't matter what filter is switched on there..... The only thing that confuses this analysis - frequent changes of intraday filtering algorithm ....
There is such a thing)))
Practice is the criterion of truth )))) Here is how the Expert Advisor works using a single BWMFI indicator from the standard set. Its formula is very simple - (HIGH-LOW)/VOLUME. So volumes rule. Even the tick ones. But 99% of people on this forum don't believe it ))))
P.S. The parameter Lots=10 means MINLOT x 10 )))