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  • #661
  • Jan 27, 2009 8:33am Jan 27, 2009 8:33am
Quoting pescador
The first step to being a successful scalper with Oanda is not to use their charts at all.

sorry
lol

the first step is to know how to scalp.
Don't blame a poor chart
  • #662
  • Edited 9:16am Jan 27, 2009 9:03am | Edited 9:16am
Quoting emda

sorry
lol

the first step is to know how to scalp.
Don't blame a poor chart
For me this is step 0.
Do not even think of scalping at any broker if you do not know how.
I do not blame Oanda charts, because I do not use them.
All I am doing is just warning against using their charts for scalping.
Scalping works fine at Oanda with 3rd party charts and the Oanda quote panel.
Eliminating Oanda charts eliminates their instrument to clog up your CPU and RAM.
Also, if you compare the price movement on an Oanda 5sec chart and the Oanda quote panel, you will
discover quite a lot of discrepancies.
A lot of fast movements on the charts never appear on the quote panel. These are fast, small fake movement that are not executable.
  • #663
  • Jan 27, 2009 9:53am Jan 27, 2009 9:53am
Quoting pescador
For me this is step 0.
Do not even think of scalping at any broker if you do not know how.
I do not blame Oanda charts, because I do not use them.
All I am doing is just warning against using their charts for scalping.
Scalping works fine at Oanda with 3rd party charts and the Oanda quote panel.
Eliminating Oanda charts eliminates their instrument to clog up your CPU and RAM.
Also, if you compare the price movement on an Oanda 5sec chart and the Oanda quote panel, you will
discover quite a lot of discrepancies.
A lot of fast movements on the charts...
I know the difference sometimes between the chart and quote panel. Charts lag a little bit. But overall if the connection is fast.. is not noticeable at least in my case... And I don't think oanda is doing that on purpose. Sometimes when price moves veeeery fast it takes 1 or 2 seconds to update the chart...but if you place the order.. it takes the price of your order window instead of the chart price... and it is ok.

using the FXdesktop eliminates the CPU and RAM issue... and with modern quad core processors it is not a problem... it could only use 25% of your CPU power maximum

I guess the thing would be... not to scalp for less than 5 pips profit unless you use an ECN broker...
  • #664
  • Jan 28, 2009 3:12pm Jan 28, 2009 3:12pm
Quoting ewokuk
Ive had a MAJOR problem with Oanda today....
I have no experience to trade with OANDA, but follow their quotes in their demo account. My impression that you complain about the slippage of limit orders! All this situation is quite strange . Generally speaking, a limit order is executed only at the requested or better price. This does not speak well for the broker! If one has slippage on the stop orders only, is normal and happens constantly. Anyone who has traded on the exchange or through. ECN, knows how are the stop orders carried out. Here's a very simple explanation of the SEC to stop orders. Stop Order A stop order is an order to buy or sell a stock once the price of the stock reaches a specified price, known as the stop price. When the specified price is reached, your stop order becomes a market order. Buy Stop Order — Investors typically use a stop order when buying stock to limit a loss or protect a profit on short sales. The order is entered at a stop price that is always above the current market price. Sell Stop Order — A sell stop order helps investors to avoid further losses or to protect a profit that exists if a stock price continues to drop. A stop order to sell is always placed below the current market price. The advantage of a stop order is you don't have to monitor how a stock is performing on a daily basis. The disadvantage is that the stop price could be activated by a short-term fluctuation in a stock's price. Also, once your stop price is reached, your stop order becomes a market order and the price you receive may be much different from the stop price, especially in a fast-moving market where stock prices can change rapidly. An investor can avoid the risk of a stop order not guaranteeing a specific price by placing a stop-limit order. The use of stop orders is much more frequent for stocks that trade on an exchange than in the over-counter (OTC) market. In addition, your broker-dealer may not allow you to place a stop order on some securities or accept a stop order for OTC stocks. Before you enter into these types of orders, you should speak to your broker or financial advisor about how these orders work. For more information on the different types of orders you can place when you buy or sell a stock, you can read "Brokerage Orders" in our Fast Answers databank. If you see OANDA widening their spreads, as it usually made during the news or in low liquidity market, and you will have all of your orders filled within the spread! Can I repeat it again, this will happen when the trade in ECN. Nowadays there aren’t many Forex brokers left, where a trader can trade with guaranteed fixed spreads. Almost all brokers widen their spread as much and as many times as they want. Sometimes I really think sadly for the old times when almost all market-makers had guaranteed fixed spreads. The weird and the wrong in this case is that your limit order was filled at the worse price
  • #665
  • Jan 28, 2009 4:30pm Jan 28, 2009 4:30pm
Quoting Karol
I have no experience to trade with OANDA, but follow their quotes in their demo account. My impression that you complain about the slippage of limit orders! All this situation is quite strange . Generally speaking, a limit order is executed only at the requested or better price. This does not speak well for the broker! If one has slippage on the stop orders only, is normal and happens constantly. Anyone who has traded on the exchange or through. ECN, knows how are the stop orders carried out.
Don't let the name fool you; Oanda has no real limit orders in the sense of ECNs, exchanges or the SEC.
What is called limit order at Oanda (and many other forex market makers) is just a market order triggered at a certain price, that after being triggered behaves as any other market order. In order to have a price level guarantee you have to explicitely set bounds on your "limit order". This is just the way it is.
  • #666
  • Jan 28, 2009 4:37pm Jan 28, 2009 4:37pm
As someone here said a few posts back, if you're serious about trading fx, then get enough money together to trade globex products. That's what I'm doing now. Oanda are unscrupulous in the way they will cheat you out of money through slippage on limit orders, and will spike a price with no legitimate reason. Oanda is a company that needs to be dragged over the regulatory coals and thrashed about on the washboard of ethics.

I read in futures mag that their profit margin is around 75%. And they still cheat their customers.
  • #667
  • Jan 29, 2009 12:52am Jan 29, 2009 12:52am
Quoting dimitrius
As someone here said a few posts back, if you're serious about trading fx, then get enough money together to trade globex products. That's what I'm doing now. Oanda are unscrupulous in the way they will cheat you out of money through slippage on limit orders, and will spike a price with no legitimate reason. Oanda is a company that needs to be dragged over the regulatory coals and thrashed about on the washboard of ethics.

I read in futures mag that their profit margin is around 75%. And they still cheat their customers.
Well that's your opinion. At least they don't cheat me so I trade with them.
  • #668
  • Jan 29, 2009 2:09am Jan 29, 2009 2:09am
One thing I don't like of oanda... I admit that I get a bit nervous when the server goes down and can't connect for some minutes... but normally it reconnects quickly.... the thing I don't like is that it always disconnects in very interesting moments.... but orders are filled so .. no problem... also I have named it the.. oanda signal indicator for reversal...
but without this issue... overall... it is a very good broker.
  • #669
  • Jan 29, 2009 2:28am Jan 29, 2009 2:28am
I'm over 3 years with OANDA.

Even though there are a couple of things which I find annoying (and it seems that recently there are more problems then it used to be) - until now I can not say that I found any prove of being cheated.

All wrong spikes have been corrected after talking to them (though the last one I had quite to insist - seems they had a better service when I started out).
__Thanks__ MJ
  • #670
  • Jan 29, 2009 3:03am Jan 29, 2009 3:03am
Quoting Xaron
Well that's your opinion. At least they don't cheat me so I trade with them.
No Xaron, that's NOT my OPINION. That's a fact. I've been cheated by them on numerous occasions. There are others here who have also been cheated by them. It's the reason I've left them, and it's the reason a lot of other traders are leaving them. You can stick with them through thick and thin, I don't care. But don't try minimise the fact that they have cost me thousands of dollars.
  • #671
  • Jan 29, 2009 3:11am Jan 29, 2009 3:11am
Quoting dimitrius
No Xaron, that's NOT my OPINION. That's a fact.
Ok, my opinion is, that it is your opinion that it is a fact.

I had some complaints with Oanda as well but always got my money back. So for me it is a fact that they don't cheat me.
  • #672
  • Jan 29, 2009 3:51am Jan 29, 2009 3:51am
Quoting Xaron
Ok, my opinion is, that it is your opinion that it is a fact.

I had some complaints with Oanda as well but always got my money back. So for me it is a fact that they don't cheat me.
Fair enough. Let's leave it at that then
  • #673
  • Jan 29, 2009 3:52am Jan 29, 2009 3:52am
Quoting dimitrius
Fair enough. Let's leave it at that then
Alright.
  • #674
  • Jan 29, 2009 3:57am Jan 29, 2009 3:57am
What a convo! I love it!

Hugs? Anyone?
  • #675
  • Jan 29, 2009 2:22pm Jan 29, 2009 2:22pm
Quoting BentRod
I get this all the time however it is only the Java lagging, the stops are still executed at my desired price even though it doesn't look like it on the chart.

Did you check to your history to see what price you got executed?

BTW...sorry to hear Oanda haven't reversed the trade.
it wasnt just the charts, the stop was executed 5 pips below where it should have been because it took them so long to close it

still nothing from the ticket i re-opened one last time on monday telling them i was closing my account. usually they dont screw up, but when they do, i expect them to put it right. i cant stay with a broker that i cannot trust because they refuse to correct a clear error or sooner or later ill end up getting screwed for even more. Id have been fine with any of the other brokers ive shown charts for, so theres little point staying with this lot if they continue to insist it is valid movement. when it obviously isnt.
  • #676
  • Feb 1, 2009 6:41pm Feb 1, 2009 6:41pm
There we go again!! Old and good Oanda playing their tricks

Platform is just untradable right now.
For he that would be deceived, let him.
  • #677
  • Feb 1, 2009 7:10pm Feb 1, 2009 7:10pm
She's up and running fine no problems here, 3.5 spread on euro at the moment, a tad wide but early in the session.
  • #678
  • Feb 2, 2009 1:44am Feb 2, 2009 1:44am
So what's your point pinchapip? Shall I post every time the platform just runs fine? In that case this thread would be the longest in this forum.

I know not a single broker nor ECN who hasn't some problems from time to time. The question is: Can you live with them? I can. If you can't, move on.
  • #679
  • Feb 2, 2009 4:13am Feb 2, 2009 4:13am
Quoting Xaron
So what's your point pinchapip? Shall I post every time the platform just runs fine? In that case this thread would be the longest in this forum.

I know not a single broker nor ECN who hasn't some problems from time to time. The question is: Can you live with them? I can. If you can't, move on.
Agreed, I've had none of the problems pinchapip has had. Everything fine here
every Saint has a past. Every Sinner has a Future
  • #680
  • Feb 2, 2009 11:29am Feb 2, 2009 11:29am
Recieved this annoncement (via e-mail) over the weekend:

"...Trailing stops have been the top customer request here at OANDA,
so we are pleased to announce the start of customer testing for this feature.
We will be rolling out trailing stops to our FXTrade platform after this testing is finished..."

Long time coming and just goes to show they're not completely oblivious to
their client base and the folks who actually use their platform for trading.
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