Episode #57: Marsten Parker- "Unknown Market Wizard" on Systematic Trading
Confessions Of A Market Maker
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The Importance of Unusual Volume in Trading
A key factor for your systems early in your career was unusual volume. I mean, to me, mean or version is you're entering against price direction and exiting with price direction; trend following is the exact opposite. And following people, you know, enter on a breakout and then sell on a trailing stop. Back then I would look for, I think at least twice the average volume. That worked especially well before mutual funds figured out that they didn't have to put on these huge block trades themselves.
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