Trading is an information game. Whoever can get the most information quickly and use it properly will make the most money.
One good example of this is lead-lag arbitrage.
Whoever finds out about the price movement on another exchange first can execute the trade first.
Another crucial example of data / information is volume which we will look into in this article.
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Table of Content
Statistical Properties of Volume
Volume and Price Dynamics
NYSE Open Strategy
Final Remarks