FOREX - Trends, Forecasts and Implications (Episode 17: July 2012) - page 277
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By the way, he trades the RUR/Dollar pair this way too. Experience is experience.
I'm not arguing about experience. But let's take a market on currency futures, how much does it help you? Take the volumes, what do you see? A list of trades? Open interest?
I, for example, pay more attention to points where there is virtually no volume. Or when a big contract is thrown too far from the current price. Everything else... I'll just get muddled in my head.
Actually, volume is what, the sum of buys and sells at that given price point?
There are three different units of volume measurement:
1. The actual number of shares or contracts sold. For example, New York Stock Exchange volume is stated in this way. This is the most objective unit of volume measurement.
2. The number of concluded transactions. For example, this is how the London Stock Exchange defines volume. This method is less objective, because it does not distinguish a deal of 100 shares and a deal of 5000 shares.
3. tick volume. Tick volume equals the total number of price changes during the given time interval, for instance, 10 minutes or an hour. It is called tick volume because in most cases the price changes by one tick each time. Most US futures exchanges do not report volume for less than one day, and players use tick volume as an estimate during the day.
A.Elder. How to play and win at the stock exchange.
I'm not arguing about the experience. But for example in the currency futures, how much does it help you? Take the volumes, what do you see? A list of trades? Open interest?
I, for example, pay more attention to points where there is almost no volume. Or when a big contract is thrown far from the current price. And everything else... I'll just get muddled in my head.
I'm not very good at stacks)))) It is unknown how much, who and where it is worth. It is known that the exit from the pro-trade (if it is not false) has a long tendency, on which you can make money.
Here's a small example of an attempted pipsqueak, but with a saw like this, you could get knocked out.
I'm not good at glasses))) I do not know how much, who and where to stand. It is known that the exit from the market (if it is not false) has a long term tendency, on it you can earn.
In the stock market one can see how much and where it is going, to analyse such information one has to acumulate, but in Forex it is not helpful, that is why I said that it is a circus.
There are three different units of volume measurement:
1. The actual number of shares or contracts sold. For example, New York Stock Exchange volume is stated in this way. This is the most objective unit of volume measurement.
2. The number of concluded transactions. For example, this is how the London Stock Exchange defines volume. This method is less objective, because it does not distinguish a deal of 100 shares and a deal of 5000 shares.
3. tick volume. Tick volume equals the total number of price changes during the given time interval, for instance, 10 minutes or an hour. It is called tick volume because in most cases the price changes by one tick each time. Most US futures exchanges do not report volume for less than one day, and players use tick volume as an estimate during the day.
A.Elder. How to Play and Win at the Stock Exchange.
Thank you!!!!!