Official definition · 官方定义
“The term "volume" in trading refers to the total number of shares that are traded during a given period of time.”[1]
— Corporate Finance Institute, CFI Resource Library · corporatefinanceinstitute.com ↗ · accessed 2026-10-25
Volume is the number of shares or contracts traded in a period. It measures how much conviction sits behind a price move: a rise on heavy volume says more than the same rise on thin trading.
成交量是一段时间内成交的股数或合约数。它衡量价格变动背后有多少真金白银：放量上涨，比缩量上涨更有说服力。
Volume is the cheapest confirmation signal available. A breakout on double the average volume suggests real repositioning; the same move on half volume is often a trap. In commodities and currencies, volume also tells you whether a price is a market price or the last trade of a thin session.
成交量是最便宜的确认信号。突破时量能翻倍，说明真的有资金在换仓；同样的涨幅只有一半量，往往是陷阱。
在大宗商品和外汇里，成交量还能告诉你：这个价格是市场价，还是清淡时段最后一笔成交价。
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| — | Nestlé sells more coffee and chocolate as price rises slow 销量 · 第 2 张术语卡 | Volume grew 2.8 per cent, much faster than the 1.5 per cent analysts expected. 销量增长说明消费者真的多买了；如果增长全靠涨价，说明只是把成本转嫁给顾客，迟早会丢份额。 |
| — | PepsiCo to raise some prices after cuts failed to grow sales 销量 · 第 6 张术语卡 | PepsiCo reported flat volume: shoppers bought roughly the same amount as before, so the February discount bought no extra demand. “Flat volume”（销量持平）是消费行业最刺眼的词之一：它等于告诉你降价没有带来新顾客，只是把老顾客的账单打了个折。分析一家消费品公司，最常用的组合是「价格 × 销量」四象限：价升量升（有定价权，最好）、价升量平（靠涨价撑营收）、价降量平（百事这次的处境）、价降量降（危险信号）。 |
High volume means the price will keep rising
It means participation, not direction.
Volume equals liquidity
Volume is past activity; liquidity is available depth now.
Low volume moves are meaningless
They can signal a squeeze, where few sellers remain.
· on heavy volume
· average daily volume
· volume dried up
· a volume spike
· thin trading
on heavy volume 放量；average daily volume 日均成交量；volume dried up 成交量枯竭；a volume spike 成交量骤增；thin trading 交易清淡。
· volume vs open interest (derivatives)
· volume vs turnover (value vs shares)
volume 是成交量，open interest 是未平仓合约；volume 数股数，turnover 算金额。
The stock fell X% on Y times its average daily volume.
行情句：股价下跌 X%，成交量为日均的 Y 倍——on ... volume 是标准搭配。
“Volume grew 2.8 per cent, much faster than the 1.5 per cent analysts expected.”
“PepsiCo reported flat volume: shoppers bought roughly the same amount as before, so the February discount bou…”