I hope by now I have managed to convince you of the merits and power of

Volume
Price Analysis in all its various forms. My purpose in writing this book has
been
twofold. First to guide you in the direction that I was fortunate to take, when I
first
began trading all those years ago. Albert was a rogue, and even though he has
attracted many detractors over the years, I for one will always be grateful for
the day
I happened to stumble across his article in the newspaper. Volume to me just
makes
sense, it i ^s bs logical, and is the only way I believe that you can truly see
INSIDE
market behaviour, manipulated or otherwise. All the charts used here are
taken from
either my NinjaTrader platform, or my MT4 brokerage account.
My second reason for the book is to explain this methodology in a
straightforward
way. The markets may be complex, but they are not complicated or difficult
to
understand, and if you are prepared to learn and study the charts yourself, you
too
can become an expert in VPA in no time. There are no short cuts, but just like
riding
a bicycle, once learnt, you will never forget. As I have said before, I do not
believe
any software program can do the analysis for you. Trading is an art, not a
science
and the subtleties and nuances of the market are simply beyond the
capabilities of
machine code, no matter how sophisticated the program. And the principle
reason
why trading is an art, is because markets are driven by people and their
money and
underpinned by fear and greed.
Therefore, as we near the end of this book, I'd like to to through some
examples
from various markets, and from different platforms. All have volume. Some
is
actual volume, as in the cash markets and the futures markets, others are from
the
spot forex market. But all of them have one thing in common. The
application of
VPA is identical in each case, and where we have VAP data, I have added
this as
well to complete the picture.
And I would like to start with some examples from the US stock markets and
the
first chart is the daily chart for Honeywell (HON) which if Fig 10.10.
This is a nice example which teaches us several lessons on this one chart.
Whilst this
is a daily stock chart, our VPA principles still apply, regardless of market or