Wyckoff once explained the characteristics you need to have to become a great trader. You must perfect yourself in clear thinking, quickness, and accuracy of judgments. Richard Wyckoff concluded that the losers are principally those who trade on what they hear, as well as those who work on facts or what they think are facts. The most successful class of traders are those who work on Supply and Demand or simply, read the charts.
I could go on for hours and hours explaining trading ranges with volume, but I hope I made it clear and straightforward.
hello trader. Have you considered that recorded volume is only of filled retail orders? Also have you considered that the difference of recorded volume has more to do with time of day ( which session) than anything else?
Do you think bulls and bears are institutional traders and there is no record per say of their activity. Only the perception of it as is recorded by the filling of the retail orders. The graph only records the actions of the hogs and sheep.
Like the old American movie "predator" where the predator was invisible and therefore had the upper hand in the game. He simply trapesed around freely slaughtering everyone in plain sight. Once one of the characters figured out his advantage he was able to become victorious over the predator but even so only with great struggle.
Nice posting and thinking by you
thanks
jasonwhite
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@JamesPowell, not sure whats your point with that post. Also, why would the volume matter at what time of the day? Bots rule the market & they work 24/7..
JamesPowell
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@jasonwhite, my post is not so much technical than just asking the author his thought process. Regarding volume and time of day, volume is much greater during some trading sessions and naturally lighter in others. It is also as I suggest simply a record of filled retail traders orders. Which in this case the author being a S/D trader would likely understand my question.
Regarding bots, even bots have to follow the natural auction process of any market and probably not relevant, particularly when it comes to S/D based trading as S/D theory regards largely only the unfilled orders of institutions.
To circle back then, a Supply level touched In a "low volume " session could still have merit in another session. Compared to a supply level touched during the london/ny session would likely no longer be considered a viable level.
Thanks
zr0s
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@jasonwhite, ...and your point is? Supply and demand dictates price. Bots run algorithms written by humans,...doesn’t matter. Follow the paint
mightyruss
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If you go on for hours and hours, I will listen for hours and hours! Welcome back :)
Flow-Like-Water
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Happy to see you back.
So disappointed that the copy trades site does not allow USA clients.
redking75
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You forgot to mention the price manipulation from the Wall Street boys =)
THX1959
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@redking75, sorry to intrude in your happy little world, but "the Wall Street boys" aren't playing in this sand box in any remotely material way.
zr0s
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@redking75, ...follow them. Price and vol can’t be hidden.
Do you think bulls and bears are institutional traders and there is no record per say of their activity. Only the perception of it as is recorded by the filling of the retail orders. The graph only records the actions of the hogs and sheep.
Like the old American movie "predator" where the predator was invisible and therefore had the upper hand in the game. He simply trapesed around freely slaughtering everyone in plain sight. Once one of the characters figured out his advantage he was able to become victorious over the predator but even so only with great struggle.
Nice posting and thinking by you
thanks