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OANDA Discussion

  • #741
  • Apr 29, 2009 3:49am Apr 29, 2009 3:49am
Quoting Jay Walker
Overleverage is there so we can assist to the Forex equivalent of the Darwin Awards.
  • #742
  • Apr 29, 2009 11:28am Apr 29, 2009 11:28am
Quoting Dark1
Does anyone trade with Oanda? Are they any good?

Thanks
i basically started with them 3 years ago becuase they were the only big, trusty broker who accepted at that time paypal as funding and withdrawing option.

problem 1

i saw some springs few times a year, on the graphs who werent there on any other platforms , (same currency , same time, of course) - eur/usd

problem 2

their platform causes all other java applications to stop responding and often freezes up my computer. and i have core 2 duo, i am supposed to do few things in the same time on my computer.....

problem 3

lack of customer support

... also i didnt withdraw any funds from them, but i suppose it wouldnt be a problem to do that .. successfully
The risk is what gives value to an investment.
  • #743
  • Apr 29, 2009 1:49pm Apr 29, 2009 1:49pm
I do not recommend Oanda as a honest broker. I just got scammed by them today and lost my trade.
  • #744
  • Apr 29, 2009 1:53pm Apr 29, 2009 1:53pm
I do recommend Oanda as a honest broker. I never got scammed by them.
  • #745
  • Apr 29, 2009 1:57pm Apr 29, 2009 1:57pm
Xaron, good luck to you then. Sooner or later you will get scammed. I say abandon them while your account is still Green!
  • #746
  • Apr 29, 2009 2:02pm Apr 29, 2009 2:02pm
I trade with Oanda since 2006 and made several thousand trades. I had 3 times a wrong fill due to a (wrong) spike and got my money back. I had several dozen trades where my stop loss was missed by 0.1-0.5 pips. I had trades where my take profit was missed by those 0.1 pips as well. So what?

If you can't win with brokers like Oanda I highly doubt you can do it with others. Tight stops aren't a good thing these days, no matter which broker you choose.

But ok, what exactly had happened to you that you think they "scammed" exactly you probably with an order size <1M? Do you really believe they hunt those "peanuts"?
  • #747
  • Apr 29, 2009 2:14pm Apr 29, 2009 2:14pm
Quoting Xaron
I trade with Oanda since 2006 and made several thousand trades. I had 3 times a wrong fill due to a (wrong) spike and got my money back. I had several dozen trades where my stop loss was missed by 0.1-0.5 pips. I had trades where my take profit was missed by those 0.1 pips as well. So what?

If you can't win with brokers like Oanda I highly doubt you can do it with others. Tight stops aren't a good thing these days, no matter which broker you choose.
Well maybe you can tell me if this is a scam or not. This is what happened to me 15mins ago. I was shorting USD/CAD at 1.2005 (3hrs ago)and S/L at 1.2072.
I got stopped out 15mins ago. I compared the oanda chart with the MT4 chart. The highest price on MT4 was around 1.2042 but the highest price on Oanda was 1.2072.

Do you think i can get my money back?
Attached Image
  • #748
  • Apr 29, 2009 2:21pm Apr 29, 2009 2:21pm
The highest price at Oanda was at 1.20715 (mid price)
The highest price at Alpari UK (live) was at 1.20663 (bid price)
The highest price at Saxo bank (live) was at 1.20675.

You should check your MT4 source. You should also consider, that we had important news at this time (FOMC statement) which included some spread widening.

This was a regular spike, sorry.
  • #749
  • Apr 29, 2009 2:28pm Apr 29, 2009 2:28pm
Quoting Xaron
The highest price at Oanda was at 1.20715 (mid price)
The highest price at Alpari UK (live) was at 1.20663 (bid price)
The highest price at Saxo bank (live) was at 1.20675.

You should check your MT4 source. You should also consider, that we had important news at this time (FOMC statement) which included some spread widening.

This was a regular spike, sorry.
I see. I am just glad our oanda charts are identical. I guess it is not my day today. Thanks for the help Xaron.
  • #750
  • Apr 29, 2009 2:45pm Apr 29, 2009 2:45pm
You're welcome. And good luck with your next trades.

At least the forex market is not centralized so you will always have different prices...
  • #751
  • May 13, 2009 6:22am May 13, 2009 6:22am
hello,

I have a question regarding pending orders with oanda.
I don't know, when I have to include the spread in the order, and when not.
I have tried a little bit with a demo account, but I can't really
get the hang of it.

for example: when I make a limit sell order, will it sell when the bid price or the ask price it at the price I quoted?
and the same with stop loss and take profit, am I entering the bid price or ask price?
  • #752
  • May 13, 2009 11:40am May 13, 2009 11:40am
Quoting kimchikim
for example: when I make a limit sell order, will it sell when the bid price or the ask price it at the price I quoted?
and the same with stop loss and take profit, am I entering the bid price or ask price?

Limit as well as market orders follow the same principle, at ANY broker:

You SELL at BID price and TP or SL on short is at ASK price.
You BUY at ASK price and TP or SL on long is at BID price.
  • #753
  • May 13, 2009 7:14pm May 13, 2009 7:14pm
I have used them over 2 years not but in the past few days I have had orders not get filled or it gets closed out without it showing up on the chart or the chart just crashing out. I will say cust service said they resolved the problem but I still have problems getting fills the past few days. It used to take 3-4 seconds but the past 5-6 trades it has been 40+ seconds and I end up just closing it out.
Keep taking CT trades, I need more money
  • #754
  • May 14, 2009 12:08am May 14, 2009 12:08am
F'IN OANDA!.can't log in!
  • #755
  • May 14, 2009 12:12am May 14, 2009 12:12am
Quoting hilmy83
F'IN OANDA!.can't log in!
Just lost connection with OANDA, at a point I was considering a short on EU.

FFFFFFlip.
Good Trading. (keep it simple).
  • #756
  • May 14, 2009 12:16am May 14, 2009 12:16am
Quoting Jasper
Just lost connection with OANDA, at a point I was considering a short on EU.

FFFFFFlip.
Message......Server Busy!!
Good Trading. (keep it simple).
  • #757
  • May 14, 2009 12:28am May 14, 2009 12:28am
Is there a feature to get history data and perform backtesting on Oanda platform similar to vHands or Forextester for MT4?

Thanks in advance,

TS
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #758
  • May 14, 2009 2:41am May 14, 2009 2:41am
Quoting TradeStar
Is there a feature to get history data and perform backtesting on Oanda platform similar to vHands or Forextester for MT4?

Thanks in advance,

TS
Yes: https://fxtrade.oanda.com/your_accou...ick_data.shtml
  • #759
  • May 14, 2009 5:12am May 14, 2009 5:12am
Quoting doblece
Limit as well as market orders follow the same principle, at ANY broker:

You SELL at BID price and TP or SL on short is at ASK price.
You BUY at ASK price and TP or SL on long is at BID price.
thanks for the explanation.

the chart uses the ask price, doesn't it? so if I want to follow the chart,
I have to add the spread to the bid price, is that right?
  • #760
  • May 14, 2009 5:20am May 14, 2009 5:20am
Quoting kimchikim
the chart uses the ask price, doesn't it?
No. Oanda's charts show the mid price. So you have to add half of the spread to both buy stop and sell stop orders.
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