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  • #2,141
  • Jun 6, 2011 9:44pm Jun 6, 2011 9:44pm
@Lonestar: Oh okay, I now see what you were getting at.

Quoting fxgrinder
p.s. I asked Oanda to send me the logs for the discrete period of time in question, but it refused to provide them.
And they don't say why?

Not exactly what I thought they meant when they said "OANDA takes transparency to a new level".
  • #2,142
  • Jun 6, 2011 9:44pm Jun 6, 2011 9:44pm
Quoting fxgrinder
Under Advanced tab in the Java Control Panel, under "Debugging," "Enable Tracing" and "Enable Logging" were not checked. I have checked them now, but as for the EWT-Queue log, when I hit open and cut-and-paste, it only included events that were past the events in question.

Where do I find the "Help>Open Debug" you suggested?

p.s. I asked Oanda to send me the logs for the discrete period of time in question, but it refused to provide them.
On the main trading window for the platform at the top you'll see the Help drop down menu. Click on that and select Open Debug Window. I am not sure but it might only log everything each time you launch the application so if you have quit out of the app since this happened the log files for that time period might be gone.
  • #2,143
  • Jun 6, 2011 9:52pm Jun 6, 2011 9:52pm
Quoting Lonestar
On the main trading window for the platform at the top you'll see the Help drop down menu. Click on that and select Open Debug Window. I am not sure but it might only log everything each time you launch the application so if you have quit out of the app since this happened the log files for that time period might be gone.
found it! (i was looking at the icon on the bottom.) you are correct. starts at 6/6/11.
"Believe nothing you hear and half of what you see." Proverb
  • #2,144
  • Jun 6, 2011 10:54pm Jun 6, 2011 10:54pm
Quoting Marv
And they don't say why?

Not exactly what I thought they meant when they said "OANDA takes transparency to a new level".
This was the "why" ...

Oanda: "[W]e cannot forward the entire log for security reasons..." [Note: I didn't ask for the "entire" log, I asked for a 10 minute window of time.]
"Believe nothing you hear and half of what you see." Proverb
  • #2,145
  • Jun 6, 2011 11:01pm Jun 6, 2011 11:01pm
I was about to place my monies with oanda, but looks like not for now.

I can't stand it when there is bad customer support.
  • #2,146
  • Jun 7, 2011 6:27am Jun 7, 2011 6:27am
Quoting fxgrinder
This was the "why" ...

Oanda: "[W]e cannot forward the entire log for security reasons..." [Note: I didn't ask for the "entire" log, I asked for a 10 minute window of time.]
Well Grinder I already told you the real reason of your troubles but FF deleted my post...

The beauty of modern trading is that you, with relative low effort, can take your money and go to another broker.Bitching on forums has little or no effect on your broker. As long as they have your money they could not care less.

Now when people start to demand a higher quality service by withdrawing their accounts than the broker starts to listen.

But based in what I see so far among retailers, they come here, complain a little than go and make another deposit to cover their losses. Thats something that sounds pretty ridiculous for me
  • #2,147
  • Jun 7, 2011 8:00am Jun 7, 2011 8:00am
Quoting fxgrinder
This was the "why" ...

Oanda: "[W]e cannot forward the entire log for security reasons..." [Note: I didn't ask for the "entire" log, I asked for a 10 minute window of time.]
if you do decide to file complaint with cftc, please post docket # here, or start new thread. make sure you explain exactly what happened and include all email/chat transcripts. invest in a good screenshot program (snag-it); use as needed. I'm very interested to see what becomes of it (most likely a settlement, especially if there was manipulation). what is surprising is how bold they are. I hope for oanda's sake the OP did accidentially press wrong button
Measure trends automatically with zero lag
  • #2,148
  • Jun 7, 2011 8:13am Jun 7, 2011 8:13am
Quoting fxgrinder
This was the "why" ...

Oanda: "[W]e cannot forward the entire log for security reasons..." [Note: I didn't ask for the "entire" log, I asked for a 10 minute window of time.]
Sounds like they just don't want to have to admit that it's a glitch (or a manipulation?) on their end.
  • #2,149
  • Jun 7, 2011 8:53am Jun 7, 2011 8:53am
Quoting Platypus
The beauty of modern trading is that you, with relative low effort, can take your money and go to another broker.Bitching on forums has little or no effect on your broker. As long as they have your money they could not care less.

Now when people start to demand a higher quality service by withdrawing their accounts than the broker starts to listen.

But based in what I see so far among retailers, they come here, complain a little than go and make another deposit to cover their losses. Thats something that sounds pretty ridiculous for me
I will be finding a new broker indeed.

However, I did not OP to bitch; I actually wanted to know whether it was possible for my platform to be manipulated in the manner that was described (hoping to find some computer gurus lurking in the thread). What Oanda has done since then is talk all the way around what I explained and solidified its place in the market as a broker with extremely lousy customer service (i.e., the customer is not always right, in fact, with Oanda, the customer is never right).
"Believe nothing you hear and half of what you see." Proverb
  • #2,150
  • Edited 9:30am Jun 7, 2011 9:09am | Edited 9:30am
Quoting Marv
Sounds like they just don't want to have to admit that it's a glitch (or a manipulation?) on their end.
In essence, Oanda claims that I woke up and created a Take Profit Change Order (for a trade that was no longer in the terminal) at some random price of 132.654 AGAINST the direction of my trade when the market had moved only a few pips below that so that in moments it would close out my trade? Why wouldn't I just manually close the trade out?

And let's assume for argument's sake any of it happened, if Oanda's platform will not allow a Take Profit order to be entered in a new trade if the price is below the quote, why not have the same restriction for modifying orders? Take profits are take profits and stop losses are stop losses? Instead, when you click to modify a trade, and check the Take Profit box, it defaults to the quote price (unless you have some other % or pip value set in preferences). Isn't that convenient?
"Believe nothing you hear and half of what you see." Proverb
  • #2,151
  • Jun 7, 2011 9:47am Jun 7, 2011 9:47am
Quoting fxgrinder
I will be finding a new broker indeed.

However, I did not OP to bitch; I actually wanted to know whether it was possible for my platform to be manipulated in the manner that was described (hoping to find some computer gurus lurking in the thread). What Oanda has done since then is talk all the way around what I explained and solidified its place in the market as a broker with extremely lousy customer service (i.e., the customer is not always right, in fact, with Oanda, the customer is never right).
What do you want them to tell you? They told you that the changed order came from your IP address. It is ridiculous to think that Oanda can have access to your computer via Fxtrade and change orders from your side. If they could do it once they could do it twice and more. So there would have been more people like you already with same experiences. What was your position size? Was it more than one lot? Or was it more than one mini lot and less than 1 lot? Or was it less than one mini lot or even less than one micro lot. What I don't get. You said you had a take profit below of the buy order? How can there be a TP below of one and only one buy order? If it is triggered below the buy order then it's a triggered stop loss. Why can't you make a screen capture (never heard of screen capturing softwares? Take this one, it's free http://www.portablefreeware.com/inde...d=775#comments) of the chart and the activity log in your platform. Delete the ticket numbers. Then upload it here. It makes no sense to change your orders without your knowledge. It's ridiculous to risk a trial. In addition the process on Oanda side it fully automated there is no dealing desk. BTW if you would ask any other broker to handle their log to you they would deny it too. You are not the Queen of the universe. Don't even start to talk about IB customer service for example.
  • #2,152
  • Edited 10:14am Jun 7, 2011 9:56am | Edited 10:14am
Quoting A_3
How can there be a TP below of one and only one buy order? If it is triggered below the buy order then it's a triggered stop loss.
Exactly.
"Believe nothing you hear and half of what you see." Proverb
  • #2,153
  • Jun 7, 2011 11:49am Jun 7, 2011 11:49am
So did you try to make a screen capture? Or is it still in progress?
  • #2,154
  • Jun 7, 2011 11:56am Jun 7, 2011 11:56am
Dear Elovv:

We are delighted to share news of an important milestone with you: the recent registration of OANDA Europe in the UK with the Financial Services Authority (FSA). This paves the way for the launch of OANDA Europe and we'll keep you updated on news about that over the coming weeks.

Although we know you don't live in London, we would like to invite you to help us celebrate at our London launch event on Wednesday June 22nd from 5:00pm onwards, should you plan to be in London that day. Join us for drinks and canapés at Smollensky's Canary Wharf (Reuters Plaza, Canary Wharf, London, E14 5AJ). You'll be able to meet OANDA's management team and other OANDA traders, and see our short animated film "OANDA vs. the FX Sharks!" on the nearby Reuters Big Screen.

Elovv

We hope you can join us if you're in London. Places are limited, so please reply to [color=#276fdb][email protected][/color] as soon as possible to confirm your attendance on June 22nd.

We look forward to meeting you!

Antony Broadbent
Managing Director
OANDA Europe Ltd


<img width="1" height="1">
About OANDA Europe

The launch of OANDA Europe is part of OANDA's goal to support our clients with a stronger regional presence, and expand our business development efforts in the UK and Europe. OANDA now has five offices worldwide, in New York, Singapore, Toronto, Dubai, and London. Each is fully regulated in its respective jurisdiction. We will keep you informed of more exciting developments in the next few weeks and months.
  • #2,155
  • Jun 7, 2011 1:28pm Jun 7, 2011 1:28pm
Quoting moneymike
Leverage is 1:500?? that should signal A bucket shop. So you really think Traders at Ubs Goldman's sach or Citibank trades with high risk.
Actually, banks don't make good money trading, most banks actually lose. Citigroup, according to the now older book New Market Wizards has lost money trading.

Today through HFT, they probably make lots of money, but that's not long ago that banks didn't make any (through trading). They do, however, make money in markets in couple of other ways.
I found a penny today. That's +100 pips for me.
  • #2,156
  • Edited 1:41pm Jun 7, 2011 1:30pm | Edited 1:41pm
Quoting ReaM
that's not long ago that banks didn't make any (through trading).
lol. Who told you this?

Only a (usually the smaller) percentage of banks' investment capital goes to high-risk speculative investments such as forex. Just as is the case with individual traders, strong/competent banks do and have always made money at this or they wouldn't bother doing it (not everyday of course, but over the long run). It's just that the ROI % isn't as high as you might think, but since it's big money involved the return is relatively big too even at low % returns.
  • #2,157
  • Jun 7, 2011 1:45pm Jun 7, 2011 1:45pm
Quoting fxgrinder
In essence, Oanda claims that I woke up and created a Take Profit Change Order
You don't sleepwalk, do you?

Hehe, I hope that was a software bug, otherwise I don't know, sounds creepy what you had there.
I found a penny today. That's +100 pips for me.
  • #2,158
  • Jun 7, 2011 1:52pm Jun 7, 2011 1:52pm
Quoting Marv
lol. Who told you this?

Only a (usually the smaller) percentage of banks' investment capital goes to high-risk speculative investments such as forex. Just as is the case with individual traders, strong/competent banks do and have always made money at this or they wouldn't bother doing it (not everyday of course, but over the long run). It's just that the ROI % isn't as high as you might think, but since it's big money involved the return is relatively big too even at low % returns.
I told you who. It is in the book The New Market Wizards.

Banks ALWAYS have high risk investments. You ever heard of Lehman brothers?

Here excerpt from the book

That would imply that they probably lose a couple of hundred million
dollars a year on their actual directional trading. Of course, that would
help explain the apparent paradox posed by my question—that is, how
can all those traders make money? Am I interpreting you correctly?

Personally, that’s what I believe. However, the argument within Citibank
would probably be: “We doubt that’s true, but even if it were, if we weren’t
in the market doing all that proprietary trading and developing information,
we wouldn’t be able to service our customers in the same way.”

They make profit off trading for the bid/ask spread.

I found a penny today. That's +100 pips for me.
  • #2,159
  • Jun 7, 2011 2:01pm Jun 7, 2011 2:01pm
Quoting ReaM
Here excerpt from the book

That would imply that they probably lose a couple of hundred million
dollars a year on their actual directional trading.

And by "they" does the author mean ALL banks?

If so, does he provide proof of this? Because he is simply incorrect. (he does say it's what he "personally believes")

Quoting ReaM
You don't sleepwalk, do you?
haha I thought about that too at first.
  • #2,160
  • Jun 7, 2011 2:30pm Jun 7, 2011 2:30pm
Quoting Marv
And by "they" does the author mean ALL banks?

If so, does he provide proof of this? Because he is simply incorrect. (he does say it's what he "personally believes")



haha I thought about that too at first.
Well, I am sure YOU know less about banks than he does. Of course, there can only be a believe of how things are, since there is no way to know how they really are. Due to some known facts and numbers posted someone calculated that they must have lost a couple of hundred million dollars a year trading. That's all.

Banks lose a lot trading. When Lehman insiders knew they are going down, they started taking even riskier trades. Words from Prof. Sven Rady from the German elite university LMU Munich, if you must know. You know, almost all banks were in trouble, don't you? What does it say to you? "High risk" ringing somewhere? It does not apply to trading only, it applies that banks do high risk business.
I found a penny today. That's +100 pips for me.
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