how important is intraday volume data?

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richard
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how important is intraday volume data?

Post by richard » Sat Jun 26, 2004 11:04 am

I am doing futures swing trading, discretionary, and mostly pit-traded.

I do not have intraday volume data. How important do you think it is? If I want to get it, I will have to sign up for eSignal or a provider like that and the fees are very high when you include exchange fees ($97/month for NYBOT and I'd also need CBOT and probably CME).

I am following about 20 markets looking for my setups, and I feel like I am handicapped without volume data.

Or is EOD volume data enough?

Thanks for your input!

richard
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Post by richard » Sat Jul 03, 2004 12:26 pm

bump

SMKJ
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Usually the same

Post by SMKJ » Mon Jul 05, 2004 12:26 am

I personally don't find intraday volume that helpful....

B/c volume always appear at the same time

a) When the market opens
b) After lunch....

Sometimes there are major annoucements at 10:30, so there will be volume there...

but yeah... Usually..it's not that helpful

Kiwi
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Post by Kiwi » Mon Jul 05, 2004 2:09 am

Save yourself a heap of money and drop esignal NOW!!

Sierrachart attached to an IB feed will give you everything you need for .... $7 per month if you trade with IB .... or the near rip off price of $17 per month if you don't pay IB commissions.

And HSI or Oz is free (check the uplift from esignal for that).

But your question. Volume is very important if it is an important part of your strategy. If you find ways to use it (and they will be very different in indexes and currencies for example) then volume can be important. IBs additional charge for volume = zero.

richard
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Post by richard » Mon Jul 05, 2004 2:18 pm

Sierra chart looks interesting. Together with mytrack that might do the job. I am also investigating futuresource but their xtra product is $74/mo plus exchange fees, pretty expensive :(

I am not paying for data. I am using Farr Financial for pit traded futures and IB for electronic ones that they trade (they do no ag for instance). The Farr app isn't terrible, it is realtime charting up to 60 minute bars or candles, with no historical and very primitive drawing tools, maximum 4 windows open simultaenouesly , but still, it is workable.

Then I also use tradingcharts.com and barcharts.com. They each have some advantages. The combo has proven workable. But it is a pain in the butt and not really what I want -- plus there are no volume numbers except for e-traded futures.

And I am still so much in the learning curve that I don't want to make any big commitments as I'm not sure how my trading style will change. I may end up chiefly trading off a daily chart, who knows.

Thanks for the answers -- I really appreciate it.

richard
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Post by richard » Wed Jul 21, 2004 1:13 pm

I downloaded SierraChart and didn't really like it very much. I find the UI clunky.

Do you have any other suggestions for a good charting package with a data feed?

Thanks!

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