Today I want to speak about volume, specifically in the Forex market. In Forex, many people say there is no volume, or that volume is useless. I say that if you ignore volume, you are at a grave disadvantage. I show you why in today’s video update.
The Forex Volume Problem
In the spot Forex market, there is no central exchange. Therefore, there is no way to count the number or size of contracts/lots traded at any given time. So, to measure Forex volume, we use tick count (the number of ticks or change in price).
Hawkeye Volume is an indicator that calculates and displays volume based on the principle of Volume Price Analysis. In Forex, we use tick count to approximate volume. This is where Hawkeye is unique, and gives you the edge. We use a complicated algorithm that calculates (with ~80% accuracy) whether there is buying or selling pressure.
Are you a Forex trader? Therefore, if you aren’t trading with volume, you are at a great disadvantage. Learn today to trade the Hawkeye way.
Join Randy in the next free LIVE Hawkeye Demonstration Room held every Wednesday at 9.30am EST US. You will learn more about volume and volume price analysis and see more examples and live trade setups. It is open to all.
Learn to trade the Hawkeye way.