I don’t [I]think[/I] I’d even heard of “logarithmic charts”, in a trading context, before.
I’m not aware of ever having seen one at all - and they’ve certainly never been the [I]default[/I] setting of any trading software I’ve ever seen in my life. (Granted, I’m doubtless much younger than Turbo and he might have seen a lot of things I’ve never seen!)
What is the difference between a logarithmic price scale and a linear one? | Investopedia
Fool.com: Fool FAQ - Log Charts vs. Linear Charts
your lucky im no woman - otherwise id be offended by the age comparison 
im 33 btw and since you got a doctor title recently i doubt you are younger than 25, so we are not that far apart to classify it as “much” 
Your broker tells it you every day in and out.
Forex is the biggest market and therefore the most liquid one.
[B]1st:[/B]
you dont need to care for liquidity since 99% of retail forex trading is beeing done over the desk. 99% of trades taken by participants on this Forum will never be wired further than to the gamblinghouse of your broker.
[B]2nd:[/B]
the yearly global forex market size is estimated on $ 1.3^21
the yearly global derivatives market is estimated on $1.2^24
(For those not understanding these numbers= ^means “high” and high means that this is the amount of numbers after the dot. so high 24 means that there are 24 numbers after the dot (quadrillion= 100 000 trillion) and high 21 means there is 21 numbers after the dot (high 18=trillion----high 21= 1000 trilion))
Forex.:…$ 1 300 000 000 000 000 000 000
derivatives:…$ 1 200 000 000 000 000 000 000 000
worlds stock markets combined (just for comparison [1.14^20):…$ 114 000 000 000 000 000 000
the derivatives market is [B]much[/B] bigger than the forex market.
Anyways, trading derivatives is a completely different game than trading retail forex. i only wanted to bust the “myth” of forex being the ultima ratio when it comes to market size and liquidity. i do not want to tell anyone to start trading derivatives.
edit: arent those some really sick $-numbers when looking at prices of daily goods around you?
Yes, I think it’s nothing to.do.with age, you either have heard of.logarithmic charts or you haven’t - I am in the second category.
Also, absolutely true about forex liquidity access for retail clients: AmeriTrade, for example, have their own liquidity pool for client pricing, then if they cannot make that price it will go to a dark pool through Citi or other banks, but it basically will.never make it further: you retail order will never be sent to the machine rack sitting in the exchange (say, NYSE), therefore you will.never have access to top-level prices from the.exchange.
.
So what’s the point of all this, TURBO?
It’s free stuff, if you find it useful, that’s great, if not, that’s fine too. 
Meaning: Turbo is putting his findings/knowledge out there for free, and sure enough some of these
topics are definitely rare on Forextown/Babypips, so it is worthwhile per se
THat’s my opinion, purely
Well, I don’t deliberately want to be churlish, but advice not to trade off logarithmic charts is not really helpful as nobody does that. And likewise Gann lines.
I could as easily say don’t trade off the weather systems of Jupiter, but nobody is doing that either so what would be the point?
(Except maybe to show I know a damn site more than other people about the weather on Jupiter?)
Just as well, if you ask me - there’s turbulence, long-lasting storms, and wind-speeds of up to 250mph: that’s even worse than J. Welles Wilder’s “delta trading” … :23:
Slightly off-topic, Turbo - forgive me for hijacking your thread - a similar topic to the logarithmic vs. linear charts
could be bid vs. ask charts, namely which one the charts on a trading software are set to:
just because you didnt come across things and just because you didnt see different stuff than what you read in babypips school or at some other beginners places it doesnot mean others are at the same starting level like you are.
Gann lines have been featured in a hand full of threads in this forum, among threads with questions about them you will aswell find threads in the “free forex trading systems” sections where people are trying to show others how trading is beeing done.
about logarythmic charts. only because you never come across them it doesnt mean “insent the first few sentences from above here again” and that nobody uses them. there are threads on several forums asking “how to use logarithmic charts” etc etc.
you shouldnt judgy by your limited knowledge that things you dont know do not exist.
and anyway thanks for waisting my time to bother to answare to your rubbish. as always any concept of “forum” proves its inefficiency and uselesness in the form of “everybodies opinion” matters and everybody has to express his/her opinion and “knowledge” on things they (as you said yourself) never heard of before.
anyways i said in the first post “im not here to discuss stuff” so simply take it or leave it.
so whats your trolling for?
Go Turbo!!
youre never highjacking my threads PMH and more than welcome to add your knowledge!
good point and thanks for adding it!
What a fancy name… sounds like a great italian dish you must try!
and thats all about there is to be honest. the great name that has (as most italian words) a beatiful sound when you say it (Fonic).
But does it belong to trading? well, that is not my answare to give to you but i might can enlight you a bit about the mentality of people and why this Name of this very old Italian mathematician became so famous in the last 40 years.
everyone who is familiar with the Fibonacci knows its origin so i will not go into details about ths. I will only tell you the truth about why it is in trading.
In plain and simple words it is a abstract/variation of the much older “one third”, “two third” and “half (50%)” retracement psychology that is beeing used in trading ever since famous Dow briefly wrote about his “Dow theory” more than 100 years ago.
we all know the retracements.
38,2%
50%
61,8%
but why these numbers? well in simple explanation: those are the numbers of the Fibbonacci mathematician formula he developed a few hundret years ago.
the true and really important numbers thou are:
33%
50%
66%
keep those numbers in your mind, we will come back to them… now:
those are the “one third”, “2 third” and “half” retracements that are being used in trading ever since.
it is coincidence that these numbers are so close together but it is not coincidence that people use “Fibbonacci” instead of the “one third, two third and half” retracement.
Why you may ask?
see the name. doesnt fibbonacci sound much more mysterious and fancy than “one third, two third and half”? doesnt it soundmuch more complicated than “one third, two third and half”?
doesnt the name and the added value in complexity add some sorf of free interpretations to it and doubt of your own trading decition in case it does not work out with the Fibbonacci?
that is the reason why. people love to overcomplicate things and there are people who like to make things complicated and fancy so the masses (you, dear reader) buys the complex version of the simple knowledge.
Why? simply because a complicated explanation to a simple practice/theory/procedure explains much easier why you fail at applying it. everybody rather fails at something that is complicated than on something that is very easy.
So the next time you try to use the famous fibonnacci rather think of the infamous “one third, two third and half”-retracement theory and the different percentage numbers added to it.
and here, just for fun, i added a fibonacci and added the 33% and 66% of the “one third, two third and half”-retracement theory as blue lines to it. the schooled eye will see how much better these 2 blue lines worked together with the (anyways strongest retracement line the 50%) in comparison to the fibonacci percentages (38,2 and 61,8).
and now a trick: you now saw those 2 slightly different theories and different numbers. you can use these differences (38,2 and 33% / 61,8 and 66%) as “reversal zones” in which there should occure some sort of price action and indecition when you switch to the next lower time frame. if there is indecition and price action you may find a great and low risk entry point into the developed trend (not counter trend) and a confirmation that the original (not counter trend) is resuming anytime soon. if it creates no price action and undecition (in a lower time frame) in this “zone” and looks like its shooting right thrugh it might not be wise to enter any positions at that time.
Well, let’s see - you started the thread with the message that there are in reality right and wrong ways to trade. As you said this on an open forum every member reserves the right to comment, whether you wish to respond / debate directly or not. BTW, critical response isn’t trolling, its simply an expression of an alternative opinion. If you can’t bear that without name-calling, then don’t post in public. If you can bear it but don’t wish to respond to me individually, that’s fine, but you have, so we are where we are.
With regards logarithmic charts and Gann lines, I know of them and I understand them. I don’t understand the utility however of posting something about them which purports to be useful to traders, when struggling traders to my knowledge don’t struggle because they are mistakenly using logarithmic charts or Gann lines. So my implication was that you posted on these subjects not to help traders but to show off your esoteric knowledge.
There are limitless numbers of wrong ways to trade so the only point of posting on these is to steer struggling traders away from the mistakes they are actually making, not away from things they had never even considered let alone knew about.
As for there being a right way to trade, I don’t accept there is only one. Surely there are infinite right ways to trade, probably as many as there are successful traders. So, posts on useful practical stuff would be very welcome I am sure.
Turbo, he/she is not worth it… He/she does not know that you type at 100km per hour and the spelling mistakes just come that way, for example.
Yet another forum user wasting time and passing judgment on others…
No wonder people leave these forums…
There are always some nasty people on these forums. It is best to just ignore them
yes but i am neither annoyed nor bothering. thenonly thing that bothers me is that he with his second acount adds rubbish to threads and only tries to distract by childish and off topic comments.
andways tommor, your second account got deleted very fast:
for the sole purpose of showing the type of charackter this forum user is displaying in public.
and to hint to this thread here: 301 Moved Permanently
I have absolutely never created a second account on this or any forum, nor has anyone to my knowledge ever created a second account on my behalf, nor have I ever requested any support from anyone via a new account created for the purpose. I have no knowledge who was behind the MissCroft account and I really dislike what he/she had to say.
I make no criticism and never have of your or anyone else’s English on this forum or any other.
I finished my last message on this thread with the observation that I am sure useful advice for struggling traders from yourself would surely be welcome, and I hope you continue to post such.
Have a good evening.
Hi Turbo, but I am sorry to say your comments about logarithmic charts are wrong. They most certainly are not a trap for new traders, that idea is just funny. You make it sound as if a dishonest broker is somehow manipulating the charts in some fashion, that is just silly.
Logarithmic charts are simply a tool, they have little application to trading spot forex but are often used in equities.
All a logarithmic chart means is that the Y-axis (the one going up and down with price) does not use a scale that is equally graduated for every dollar of movement, it corresponds to a percentage movement.
As an example, in a normal chart if you have two price movements one from 1.0000 to 1.5000 and the other from 3.0000 to 3.5000 the distance between those prices is the same 0.5000.
In a logarithmic chart the distance between 1.0000 and 1.5000 is drawn as a much larger amount because it is a 50% move in the price versus a 17% movement in the other example.
This has little application in forex since most major currencies, even over many years, stay within defined ranges. In stocks that is not the case, a stock can move from $5 to $40 (an unheard of move in forex, which also touches on why leverage is needed on forex) and in order to keep a better visual sense of reality log charts are used.
As for the time span of the charts, it depends on the situation. Trading AAPL on a 6 month scale a log chart is not needed, trading a penny stock where the prices jumps from $0.10 to $2.00 is a few days, then they can be useful.
There is nothing bad, nor good, in log charts, they are just another tool, your claims are at best specious.
Hopefully new traders will see this as a good example of why the internet is not a good source of trading knowledge. Go read one of the many mainstream legitimate texts on trading that Lexys has listed. Most are available for free at your public library.
Sydney opens in a few hours so hope everyone has a good week.
Was going to put a little input earlier but I see from the quote bubbles that it has been mentioned, i.e. the 50% “fib”.
Likely the only reason that this level was added to software was because it is generally recognized that the half-way level has been significant over the years.
Back in the day the little pager used to show the Asian high and low on a single-line lcd screen, European traders had that particular wealth of info before they reached their desk, so if they were buyers they would seek to buy at the midway, usually early in the session.
Anyways, long story short, it is still ‘watched’ (vive the black boxes), the difficulty on the longer term, say daily, is where do you draw the levels from.
Usually wherever is significant, so say on Eur/Gbp, daily, the move up immed after the Brexit vote (June 23) would do - has price retraced to half that move, if so what happened.
