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.