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To: Chip McVickar who wrote (4746)	11/18/2000 8:22:10 PM
From: Michael Watkins	Respond to of 8925

More along the same line, I tend to avoid indicators altogether, and this from a former systems trader. Swing all one way and all the other, I guess. Intuitively I guess I always believed that price and volume were king, with emphasis on price for any liquid market. Believing this, it became hard for me to trust or see any value in indicators which abstracted price or volume and generally introduced lag into the equation. A side note: Then one day, some time ago now, I happened along Teresa's site, and her work prompted me to reopen my Edwards & Magee book and also have a look through a couple of others. I think theres a few very useful pages in Trader Vic's (Sperandeo) book on trendlines. Suddenly charts that used to be filled with indicators were now simple and much clearer to me. Thousands of charts, perhaps tens of thousands, and many trades later I'm pleased with the results. (And thank you Teresa for always sharing so openly) Back on topic: Volume, for futures since I only trade them intraday, tick volume seems to be a good enough proxy for the real thing. Certainly tick volume does not always confirm patterns, but usually between tick volume or trend strength (ADX being a primary tool) we can deliniate intraday consolidation patterns. After all, price over time in a way is a proxy for volume, so I think the conclusion is somewhat logical. But would I like true volume for the emini's? Sure. The CME has the data on Globex2, I sure would like to see vendors start distributing that for ES and NQ contracts - would be quite useful.