volume vs amount
Which version is right:
Version 1:
Amount = Volume x Price per asset
Version 2:
Volume = Amount x Price per asset
I guess, version 2. But I am not sure..
When looking at an orderbook, the word amount is used. For example:
ASK-Price: 1$
ASK-Amount: 4
This means that there is an interest to sell 4 units of the asset with a price of 1$ per asset. So the volume for this is 4x1. It does NOT mean, that the ASK-amount of 4 is calculated by Volume * Ask-Price. That means, amount must be the number of assets.
What is the right distinction between the word amount and volume in terms of the market?
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Neither is right, because both refer to a number of shares. "Volume" means the number of shares traded in a period (at various prices), "Amount" on an order book refers to the number of shares that the order wants to buy/sell.
I would not be surprised to see "volume" used in an order book, but I would not expect to see "amount" when talking about aggregate trading volume.
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