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Nairaland Forum / Nairaland / General / Business / Forex Trade Alerts: Season 23 (537669 Views)
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Re: Forex Trade Alerts: Season 23 by phemite194(m): 6:22pm On Feb 18, 2023 |
phemite194: Let's see if there will be any buy signal..
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Re: Forex Trade Alerts: Season 23 by Piptocoin: 7:16pm On Feb 18, 2023 |
Eagba: boss, don't say that. We all start from somewhere. Volume trading are of many types. Meshpips has his style of trading using volume, some traders use Volume Weighted Average Price (VWAP), some use tick volume, and others use volume profile. I use tick volume after having gone through the ones I just mentioned because it suits my personality. There is no style that is better than the other. You have to determine the one that suits your personality and go for it. One thing is sure, regardless of the one you choose the road will not be easy but it will definitely pay off if you don't give up. If you have any more questions please shoot. 2 Likes |
Re: Forex Trade Alerts: Season 23 by dmahn(m): 10:37pm On Feb 18, 2023 |
VOLUME: THE NEGLECTED ESSENTIALS. Volume is the only reason I add more to losing trade, when you use it and knows how to use it well, it gives a Very Objective view of the market. When I see divergence in volume, Over confidence comes, Price might run ur stop, but finally you ll see the market in the direction its shows you Don't Stop Learning 1 Like
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Re: Forex Trade Alerts: Season 23 by Eagba(m): 10:39pm On Feb 18, 2023 |
Piptocoin:Lets look at volume tick. I know not, and I'm also using mt4 mobile ( meaning I checked and didn't see volume tick or vwap or vsap. Please walk me through) |
Re: Forex Trade Alerts: Season 23 by bigbasho: 11:25pm On Feb 18, 2023 |
HumbleTrader:1@ bolded.. tell them 3 Likes |
Re: Forex Trade Alerts: Season 23 by HumbleTrader: 12:04am On Feb 19, 2023 |
Eagba:If must use volume, use OBV available on meta trader 5. But don't rely on volume alone, volume is like heavy breeze blowing that rain wants to fall, but at the end it may not fall. 1 Like
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Re: Forex Trade Alerts: Season 23 by meshpips(m): 1:51am On Feb 19, 2023 |
HumbleTrader: Let me ask you, do you use volume to make your own trading decisions? If no, you cannot in anyway tell others to use it. I use volume everyday and have been making the strategy even more robust for the past 6 years out of the 16 years that I have been trading. Throughout those 16 years I have worked (a 9-5 job) for less than 4 years put together. You still think I do not know what I am saying? Note: I put up a question yesterday about the average cost per unit of hypothetical shares bought. You (or anyone else) have not answered it yet you prefer to keep arguing about what you are completely ignorant about. |
Re: Forex Trade Alerts: Season 23 by meshpips(m): 3:13am On Feb 19, 2023 |
dmahn: Thanks for sharing this article. I am amazed at the difference in the way of reporting between the NYSE and the LSE (New York Stock Exchange and London Stock Exchange respectively). On the Nigeria Stock Exchange, they record volume traded and number of deals. Nice article. Thanks again for sharing! 1 Like |
Re: Forex Trade Alerts: Season 23 by HumbleTrader: 4:23am On Feb 19, 2023 |
meshpips:I made use of volume when I initially started trading, I don't need it anymore. Let's just agree to disagree. 1 Like |
Re: Forex Trade Alerts: Season 23 by Eagba(m): 4:47am On Feb 19, 2023 |
HumbleTrader:Let me download mt5 . And demo |
Re: Forex Trade Alerts: Season 23 by Eagba(m): 4:51am On Feb 19, 2023 |
meshpips:No vex o, is us30 an index of an American stock exchange like the sp does? And if one will have to trade it, does show volume traded or trading? |
Re: Forex Trade Alerts: Season 23 by meshpips(m): 6:09am On Feb 19, 2023 |
Eagba: There are 3 major indices in the US: US30 is same as the DJIA (Dow Jones Industrial Average) S&P500 and NASDAQ (USTech) Any instrument traded on any exchange shows volume (quantity traded). You can use any Broker's volume data and obtain exactly the same result. The only thing you need to know is that the volume given contains both buy and sell volume. You need to be able to know where the NET volume is before you can do any actual work with the volume data. 1 Like |
Re: Forex Trade Alerts: Season 23 by meshpips(m): 6:13am On Feb 19, 2023 |
HumbleTrader: Kindly answer the question I posted about the average cost of the hypothetical XYZ shares You will be further enlightened after you do. Anyone else can answer the question so that we all can learn on this thread. Or someone might be able to correct me if I am wrong with the things that I am saying. Let's just answer that question first and then see the difference then we will discuss further. It is weekend that is why I have time on my hands. I can't guarantee responding once the market opens. Let's take advantage of this opportunity to have an intelligent exchange of ideas. Thanks everyone! |
Re: Forex Trade Alerts: Season 23 by meshpips(m): 6:16am On Feb 19, 2023 |
meshpips: Here is the question. Let's get the answer in the two scenarios and then we will see whether they are same (which will make volume useless). If they are different, why is it so? |
Re: Forex Trade Alerts: Season 23 by Piptocoin: 8:30am On Feb 19, 2023 |
Eagba: My advice. Just go through different strategies dealing on volume. I knew a guy who used RSI and Money Flow Index (MFI) which is a volume indicator to trade forex and binary options with enviable success. Don't just jump to the conclusion that you need tick volume. Explore. You will be amazed by what you find. In the end, if volume trading is your Calling you will find something unique for you. 2 Likes |
Re: Forex Trade Alerts: Season 23 by EASYLIFE4US: 8:33am On Feb 19, 2023 |
meshpips:X1=30÷100 =0.3 X2=100÷1000 = 0.1 Av=( 0.3 + 0.1)÷2 = 0.2 |
Re: Forex Trade Alerts: Season 23 by meshpips(m): 8:44am On Feb 19, 2023 |
EASYLIFE4US: It is 100 units at $30 per unit. The calculation you put up is not quite correct sir. Also note that there are 2 scenarios. So I expect to see the answer for the first part that includes the quantity traded and a different answer for the second part that only told us the price at which he bought without including quantity. Thanks for making an attempt. You rock! |
Re: Forex Trade Alerts: Season 23 by Piptocoin: 8:58am On Feb 19, 2023 |
meshpips: The average cost per unit is $11.81¢ or approximately $12. The average cost per unit for the second one is $65. 1 Like |
Re: Forex Trade Alerts: Season 23 by BrightFuture48: 9:50am On Feb 19, 2023 |
meshpips:Answer #1 = $99.86 Answer #2 = $65 The difference is occasionned however to more data provided in question #1. As in any form problem, the more data you have, the better the outcome, It not necessarily have to be volume. The volume of any security is more accurately use in equity/ stock trading than forex because you easily get aggregate volume of buyers and sellers at the exchange. But in case of fx is a bit difficult because volume you're checking is only reflecting the broker you're using. Commitment of Traders report COT is closet thing to get a glimpse of volumes being traded in fx mkt, but then this can only be used for long term trading not otherwise. 2 Likes |
Re: Forex Trade Alerts: Season 23 by Me77: 10:40am On Feb 19, 2023 |
meshpips:Hi meshpips, I sent you an email since yesterday but you haven't reply me. Please check your mail. |
Re: Forex Trade Alerts: Season 23 by BinaryRocks: 11:29am On Feb 19, 2023 |
meshpips:I'm still expecting your mail. Thanks |
Re: Forex Trade Alerts: Season 23 by meshpips(m): 11:47am On Feb 19, 2023 |
Piptocoin: First let me thank you for attempting to answer the question. Kindly notice that the upper and lower extremes are $100 and $30 respectively. The average will not be higher than $100 neither will it be lower than $30. Of necessity, it will reside between the values that bound it. |
Re: Forex Trade Alerts: Season 23 by Piptocoin: 12:58pm On Feb 19, 2023 |
meshpips: Yes, you are absolutely right. I miscalculated (in my haste) and used 10,000 units rather than 100,000 units. The average figure is $93.64¢. An error on my part for the first question. 2 Likes |
Re: Forex Trade Alerts: Season 23 by WAVESANDGOLD: 1:00pm On Feb 19, 2023 |
meshpips: Another lie they have been telling us, is that there is no holy grail 1 Like |
Re: Forex Trade Alerts: Season 23 by WAVESANDGOLD: 1:05pm On Feb 19, 2023 |
This debate on 'volume' follows the same trend as the one between saxy4c versus meshpips , a few years ago 2 Likes |
Re: Forex Trade Alerts: Season 23 by bigbasho: 1:21pm On Feb 19, 2023 |
It is interesting to read how knowledgeable people are in this game. We think we are all correct as a professional trader. have we even ever thought we can all be wrong? Yes! We are making money with whatever strategy we use, but what is the real deal? To me, it. Means when you look at the chart and tell me this will happen and it does. While I am not trying to put a feather on my own hat, I still made a call on Friday and hit it down and up 100%. And I equally made a projection of GU Tanking down over 2000 pips and rising over 5000 pips. This is even devoid of any knowledge you ever come across. If it played out, which i think it would because it is already, then I will tell you there is holy grail in forex and once you see it, you can never unsee it again. Fingers crossed till March or April. 4 Likes
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Re: Forex Trade Alerts: Season 23 by meshpips(m): 1:23pm On Feb 19, 2023 |
BrightFuture48: Thanks so much for participating sir! Your answer seems to be the most accurate of the 3 people that responded. Thanks for going into extra detail. 2 Likes |
Re: Forex Trade Alerts: Season 23 by Eagba(m): 1:34pm On Feb 19, 2023 |
meshpips:What I see is with volume, you can easily tell that the average is 3.33 and 10 respectively. While 8.46 is the net av. While without volume, you can't tell the average or easily understand where the price pressure is |
Re: Forex Trade Alerts: Season 23 by Piptocoin: 1:50pm On Feb 19, 2023 |
bigbasho: Following this intently. There is a lot of misinformation about the markets that are designed to keep people comfortable in a tiny box of price conventional behaviour. People will see price for what it truly is when they set aside what they have already been taught. "Once you see it you can't unsee it" — CJ of blessed memory. 3 Likes |
Re: Forex Trade Alerts: Season 23 by meshpips(m): 2:00pm On Feb 19, 2023 |
Piptocoin: Thanks for this. I think you now have the correct answer but let's go through it line by line so that everyone can understand how you arrived at your answer 2 Likes |
Re: Forex Trade Alerts: Season 23 by charly20(m): 2:03pm On Feb 19, 2023 |
Probably best to seek short entries from the price line and within the swing high for this week's trading. 2 Likes
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Re: Forex Trade Alerts: Season 23 by meshpips(m): 2:13pm On Feb 19, 2023 |
meshpips: So we had 100 shares at $30 per share This will cost 100 * $30 = $3,000 The second purchase was 1,000 shares at $100 per share. This will cost 1,000 * $100 = $100,000 Total cost = $3,000 + $100,000 = $103,000 While total units = 100 + 1,000 = 1,100 So we bought 1,1000 unit (shares) with $103,000 Therefore the cost per unit is $103,000/1,100 = $93.636 per share Approximately $93.64 per share as correctly written by @piptocoin. For the average cost without volume, It is simply ($30 + $100)/2 = $130/2 = $65 per share I hope we can see the difference in result just because we added volume (quantity traded). Everything you do on your chart is usually price and time. Once you introduce volume, there is a greater level of precision. Since the larger quantity was bought around $100, it is only logical for us to expect the average price to be closer to $100 than it will be to $30. This is kinda similar to the VPOC (volume point of control ) used by market profile analysts 3 Likes |
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