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Hi Tomasz,
Okay, more importantly, I think I understand now why all my 8-digit
volume numbers in the downloader are correct to 8 digits:
It's because the round lot sizes for these stocks are at least 100
shares, and more often 1000 shares, so the last digit (the one that
might not be accurate) is always going to be zero in every case,
because the second digit is also always going to be zero, and most of
the time so is the third digit (except where the round lot size is
100 -- we do not trade odd lots here at all). Have I got that much
right? (We would never see volume of 39,999,999, or 40,000,003, for
example, the last three digits would always be 000 or x00.)
There are stocks that trade in rounds lots of 10, or even 1, in
Tokyo, but none of those stocks ever get to 8 digits in volume, so
they are always accurate anyway. Most of the stocks that trade in
lots of 1 have volumes of just a few thousand to perhaps a half
million on a roaring day -- well short of 8 digits in any case.
As I said in my other note, I think the best thing for me to do is
just drop 3 zeros on the TOPIX volume (those digits are always
reported as zeros anyway, and the downloader shows only about half of
them a zeros because of the precision problem) and make a note to
myself on the chart until I get used to it. It's not so hard to
mentally compensate if the comma separator remains in the same
position relative to the still-visible digits.
But of course dividing all volume by 1000 with the plug-in, which
would produce the same desirable result with the commas, would cause
*substantial* percentage errors in the lower volume stocks, and I
trade some of them and rely on precise volume targets as well as
price movement for signalling. One stock I trade does between 8,000
shares and 50,000 shares a day, at ~US$10,000.00 a share. The error
if dividing volume by 1000 could be pretty significant, especially on
the lower volume days.
Yuki
Sunday, April 18, 2004, 5:47:52 PM, you wrote:
TJ> Using downloader, set the VOLUME field to 39,999,999 (8 digit
TJ> number) then check what is displayed instead of what you have
TJ> entered.
TJ> Then check
TJ> 40,000,001 or 40,000,002
TJ> Do you see 40'000'000 in all those cases instead of what you have entered ?
TJ> now enter:
TJ> 40,000,003
TJ> and you will get 40,000,004 displayed instead.
TJ> Why? Exactly because the guaranteed accuracy of 32 bit floating point used by MS
TJ> is JUST 7 digits. The last digit in 8 digit numbers will is NOT guaranteed to be correct
TJ> in MS volume field.
TJ> Best regards,
TJ> Tomasz Janeczko
TJ> amibroker.com
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