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  • #541
  • Dec 4, 2008 8:53pm Dec 4, 2008 8:53pm
i mean...there's nothing new around the idea of brokers altering traders accounts...but saying it that out loud is like telling you that you don't have any control over your orders...the play with you.
  • #542
  • Dec 5, 2008 3:50am Dec 5, 2008 3:50am
Do you see that spike on other brokers platforms? Definitely stop hunting by Oanda.
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  • #543
  • Dec 6, 2008 9:59am Dec 6, 2008 9:59am
Quoting Yeti
Do you see that spike on other brokers platforms? Definitely stop hunting by Oanda.
Yes this was a wrong spike. You would get your money back if your stop was there. But that wasn't the answer you wanted to have, mhh? Oanda bashing is easier.
  • #544
  • Dec 6, 2008 10:01am Dec 6, 2008 10:01am
Quoting fxbreather
i mean...there's nothing new around the idea of brokers altering traders accounts...but saying it that out loud is like telling you that you don't have any control over your orders...the play with you.
I mean, would you complain if Oanda alter your account in your favor?

Of course they alter accounts if something went wrong. Oanda does it, ABN Amro does it, Alpari UK does it and even Saxo does it! I would really run away if my broker won't fix wrong pricing.
  • #545
  • Dec 6, 2008 10:15am Dec 6, 2008 10:15am
Xaron,

If that was wrong spike then it is OK. But they have not changed their USD/GBP chart. I was not in that trade so I do not know if it was wrong spike but they should have corrected the chart so everybody see that.

Yeti
  • #546
  • Dec 6, 2008 10:19am Dec 6, 2008 10:19am
Quoting Yeti
Xaron,

If that was wrong spike then it is OK. But they have not changed their USD/GBP chart. I was not in that trade so I do not know if it was wrong spike but they should have corrected the chart so everybody see that.

Yeti
I agree... I don't understand why they don't immediately fix their charts. Usually they do that every weekend. We will see.
  • #547
  • Dec 7, 2008 7:52pm Dec 7, 2008 7:52pm
Oanda is a good broker. They are having problems right now but they will be back in the game.
  • #548
  • Dec 7, 2008 9:13pm Dec 7, 2008 9:13pm
Quoting southtrader
Oanda is a good broker. They are having problems right now but they will be back in the game.

I havent touched my Oanda a/c in years, but i was considering funding it again soon.. They were a very good broker before when i used them... what exactly do u mean by "They are having problems right now "

thanks
  • #549
  • Dec 8, 2008 12:15am Dec 8, 2008 12:15am
Quoting virtecs
I haven't really had any problems with Oanda yet. Sometimes their platform crashes, but that's usually due to a program conflict on my system.

I think a lot of people have problems because they are trading very small time frames...many of the screen shots are of 5 min or so.

I trade 4 hour charts on mt4 and place my trades through oanda and have not had a problem.

Also, if a problem does occur, their internet chat support helps out...although a bit more short and curtly than I would like but they are there.
Started trading with Oanda approximately two months ago. Put a total of 556 trades, mostly using 1 min charts. Connectivity problems were minimal, my stops and TPs worked all the time sometimes with a few pips (up or down) slippage. I'm currently at an ROI of 26.2%, and I would say Oanda does not have any negative effects on my short term trading strategies.
  • #550
  • Dec 22, 2008 7:05pm Dec 22, 2008 7:05pm
I trade futures heavily. FX and Rates. Pro futures traders with world class platforms are used to top notch reliability and speed, but even then, they will have a problem every now and again. It happens, yes it sucks, but deal with it. The retail spot market is behind the futures markets in the area of reliablity, this is why I have switched my spot FX accounts to Oanda. While orders by phone are not available (except of closing out positions), its been the best for me in the spot market. I am a position trader and everything has been very smooth over the last six months. Some newer traders just don't understand the nuances of being a trader and can't detach themselves emotionally.
  • #551
  • Dec 22, 2008 8:57pm Dec 22, 2008 8:57pm
Whether or not someone is new to trading or an old hand at this, I certainly see why
one would get "emotional" when a straight-thru currenex feed is quoting say, 40 by 43 on a pair
during the heart of the london session and oanda is at 35 by 50 on the same pair.

On a small amounts, sure, the net difference doesn't really amount to much and to even have a counterparty
willing to deal any price on a 10K lot of any currency is so far away from the way things once were,
I could see why there's not as much room to bitch and moan when I look back at it.
However, on larger orders, or atleast multiples of standard lots, the difference is quite the issue.
I'm not going to give away 5 extra pips (or more) on any kind of size.

If Oanda was the only forex dealer in the entire world that welcomed retail,
I'd rather choose the futures route with just about any discount house with $4 rounds.
Leasing a seat only makes sense with monthly volume >3000 contracts.
If you scalp that much off a DOM, the savings in fees make it worthwile to lease.

On the other hand, where else can someone go with $500 bucks, or even much less, and trade a penny/pip
and get the same experience and not get completely raped ? Oanda does still have that going for them.
  • #552
  • Dec 22, 2008 11:53pm Dec 22, 2008 11:53pm
Yes, they do have that going for them. When the Euro futures were moving hundreds of pips per day, even the spread and slippage widened a little more than usual. Thats normal. I only trade the EUR/USD on the spot market, and 90% of my futures trades are in the Euro as well. I think Oanda has done decent for a spot broker. With all the requote's that usually happen with MT4 brokers in these types of volatile markets, I think Oanda still has them beat, even if the spread widens a few pips here and there. You are right about capitalization and lower capital requirements. Heck, when I first started trading currency futures I was very young(and I'm only 33) I had to phone in my orders to my broker and the commissions were ridiculous. I would have given my right arm to have the platforms, fees and easy of entry that we have today! For my style of trading, all these awesome tools aren't what make me profitable, they help make my trading and strategies easier to implement.
  • #553
  • Dec 23, 2008 12:10am Dec 23, 2008 12:10am
I hear ya'

In 1993, I was trading thru Waldock and paying $25 a round turn. 2 ticks.
Later, Ira Epstien Futures gave me $17 round turn and I thought I was special.
There was no clicky-clicky. I'd call in to place an order on Globex or do EFT thru Singapore
and watch an over-priced FNN Signal Feed thru a cable converter box on a 486-50 computer.

During the day, I could call the order in and they'd flash fill it into the pit @ CME
and if it wasn't too busy, I'd hold for a fill. Sometimes they'd call back for the fill.

Nowadays, I think $5 r/t is robbery, I'd have to look for the broker's phone number to actually call
and if an order takes longer than 2 seconds to fill, I start tearing my computer apart.

Viva la change.
  • #554
  • Dec 23, 2008 12:23am Dec 23, 2008 12:23am
Oh yea, I forgot.

We had to walk to school, 6 miles, uphill, bothways.

And there was no food to eat. So we ate dirt. AND we were THANKFUL.

Geez, time really does fly.
  • #555
  • Dec 23, 2008 12:23am Dec 23, 2008 12:23am
Here Here!
  • #556
  • Dec 23, 2008 12:28am Dec 23, 2008 12:28am
I remember when we had to re-wax the string bridging the two cans. There was slippage.
  • #557
  • Dec 23, 2008 3:49am Dec 23, 2008 3:49am
has someone tried oanda with esignal service ?
  • #558
  • Dec 28, 2008 9:28am Dec 28, 2008 9:28am
Quoting pinchapip
I'm working on a article about how brokers operate Xaron, as soon as I finish writing it, I will post. I think is my responsability to advise newbies about brokers tatics but the more experienced traders will benefit from it also.
Still waiting for this article........
  • #559
  • Dec 29, 2008 4:48am Dec 29, 2008 4:48am
Quoting BentRod
Still waiting for this article........

Xaron???
  • #560
  • Edited 6:49pm Dec 31, 2008 6:30pm | Edited 6:49pm
Quoting BentRod
Still waiting for this article........

I'm working on it buddy...but been busy lately


Let me just throw something out here...since my "article" will not be ready anytime soon.

Brokers don't care too much about money from spreads, and the interest they make on your money is also secondary. Both combined are just peanuts. In reality most brokers are owned by hedge funds and just as banks they make A LOT of money speculating on the market. Ever heard about Market Maker Indicator? It is an algorithm that uses, among other secret "ingredients" the sum of all traders who are consistently profitable against the sum of all traders who are consistently unprofitable, and spits out some pretty reliable trades.

It is like having some talented ( consistently profitable) traders working for you , or better, actually paying to work via spreads etc, and at the same time having the ability to still use the losers as confirmation. That's more or less how their algoritms work.

So basically you are "tagged", by your broker. If you are one of the few profitable, they know you by name, and treasure you !!! You work for them and still pay them a salary!!!

The vast majority traders winners or losers pay for the brokers employees, electric bills, etc through spreads etc. BUT the account of the profitable traders is fed by the losers so the bucket should always have a "constant flow" of losers...etc...etc

Man!!! I came here to take a pic and already wrote too much.....see yah
For he that would be deceived, let him.
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