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  • #3,041
  • Jun 15, 2012 6:49pm Jun 15, 2012 6:49pm
Quoting a.speculator
so what everyone is worried about is being on the wrong side of the gap? thats what this is all about?

did you see what happened after the 150 pip gap last week? on monday the market sold off for 150 pips to cover it and since tuesday morning the market has rallied everyday since...

so you see where im getting at and where im coming from?

if you forget about the weekend and focus on your plan of attack for monday on through friday, the market will provide more than enough opportunities to turn a profit...

thats all i was trying to say......
This isn't about trading its about ECN brokers that don't actually act as ECN's vs Oanda.
  • #3,042
  • Jun 15, 2012 6:56pm Jun 15, 2012 6:56pm
Quoting JeremyWS
This isn't about trading its about ECN brokers that don't actually act as ECN's vs Oanda.
what does that even mean dude? thats like saying there are people out there hunting your stops...

brokers have the tech to either pass your orders on through to the market for the spread or to act as a dealing desk and to take the opposite side of your trade in order to earn the spread and your losses...

with that said... gaps happen because there is a ton of orders in one price zone before the market opens. with the computer platforms processing the orders at the speed of light, the average fill price that gets printed on the chart will be "gapped" away from the previous days closing price... no big deal, it happens every time a market opens... sometimes the gaps close and sometimes they dont...

the only job we have as traders is to decide which way to trade them...

what is with the frustration with gaps? and how the hell is an ECN supposed to act anyways? i thought the only thing they had to concern themselves with was making money off of their clients...
  • #3,043
  • Jun 16, 2012 1:19am Jun 16, 2012 1:19am
Quoting JeremyWS

Exactly, ECN's still experience "gaps" which any trader knows doesn't exist in forex markets as they are very liquid.

Oanda will still be tradable before 95% of over brokers so the halt isn't a problem and only protects us.
Says the 16 year old chartist who clearly knows a lot about "teh real 4x marketz".

http://3.bp.blogspot.com/-YU01hXcvVi...252520Fail.jpg

[/dickhead mode]
  • #3,044
  • Jun 16, 2012 3:30am Jun 16, 2012 3:30am
I hear you and forgive you govno.I just never remeber Oanda haulting trading.Just caught me off guard of why a major broker would make a statement as this.
It just kinda shows how messed up the world is these days.I don't see a solution to this crazy mess that the "big banks,elite" have created for all of us without some major move.Maybe a one world currency,or maybe as wacked as a major outbreak of some wild released virus that takes out a huge percentage of the population....Is that going to far?These days I don't know.But I do know mathmatically we can not come out of it without some huge shift in the world as we know it.When war and disease are huge money makers and people are killed and die for the allmighty $.We are in a bad place as a civilazation.Greed has tipped the balance point to far to come back in a rational manner.I really hope I am wrong.


Quoting <br /> govno;5763783
My post wasn't directed any anyone individually, so if you find yourself offended that's your problem buddy. I didn't mean to insult anyone but I just can't comprehend the intellectual level of some people here on this board. It's like explaining to a dumb person that they're dumb. No matter how you explain it to them, they still won't understand what you're trying to say. I was sorry to have posted that message a mere minute after I did it, but I can't turn back time. Trying to explain something that should be a given is a fail on its own and I...
  • #3,045
  • Jun 16, 2012 3:37am Jun 16, 2012 3:37am
ECN's do in-fact experience gaps, they reflect normal market behavioral as they are an amalgamation of buyers and sellers on one place creating a fair market price.

I have accounts with MBT, Dukascopy and IC Markets all of whom are ECN brokers and all had gaps on monday morning in the EUR/USD.
  • #3,046
  • Jun 16, 2012 9:53am Jun 16, 2012 9:53am
Quoting Marv
Says the 16 year old chartist who clearly knows a lot about "teh real 4x marketz".

http://3.bp.blogspot.com/-YU01hXcvVi...252520Fail.jpg

[/dickhead mode]
well I hope you do know that gaps don't exist, well thats what I've been told from my many weeks working at DB.
  • #3,047
  • Jun 16, 2012 9:59am Jun 16, 2012 9:59am
Well, I will add that in stock and futures market there are gaps, but as Forex is 24/7 there are no gaps.
  • #3,048
  • Jun 16, 2012 10:13am Jun 16, 2012 10:13am
Quoting Marv
Says the 16 year old chartist who clearly knows a lot about "teh real 4x marketz".


[/dickhead mode]
His posts should be judged on their knowledge and understanding of the markets.. as well as how they contribute to the forums.

There's a 14 year old trader on these boards that does a great job trading a very uncommon system..

Just saying (and I caught that you were half joking around.)
FXGears.com
  • #3,049
  • Jun 16, 2012 12:40pm Jun 16, 2012 12:40pm
Quoting shrike
Last sunday they must have made a big loss. The 100bn spanish bank-bailout was announced in the european afternoon, clients had plenty of time to go long eur/usd and basically earn 150 free pips, coming directly out of Oanda's pockets. And this was not the first situation like this. Weekend trading is a bad idea for a broker, and with the greek elections coming up, it would just be reckless.
One of my friends got +80 pips with profit $4,000.00 (we are retail traders) in a single trade. I can't imagine the negative impact to market maker if at least 500 traders received the same or better result.

cheers
  • #3,050
  • Jun 16, 2012 12:42pm Jun 16, 2012 12:42pm
Quoting shephrd
First off, OANDA is the only forex provider that permits off-market, weekend trading. In truth, volumes during the weekend are much lower than typical trading days, but OANDA has made this available as a service for its clients rather than an opportunity to increase corporate revenues.
IIRC, easy-forex is offering weekend trading too, but with huge spread.

cheers
  • #3,051
  • Jun 16, 2012 12:49pm Jun 16, 2012 12:49pm
Quoting zam4ever
IIRC, easy-forex is offering weekend trading too, but with huge spread.

cheers
Oanda have 10 to 25+ spread between Friday 22:00 Sunday 24:00 (GMT +2) in EURUSD.
  • #3,052
  • Jun 16, 2012 2:27pm Jun 16, 2012 2:27pm
Quoting zam4ever
IIRC, easy-forex is offering weekend trading too, but with huge spread.

cheers

How do you trade when the market is closed?
  • #3,053
  • Jun 16, 2012 3:26pm Jun 16, 2012 3:26pm
Quoting tranco
How do you trade when the market is closed?
markets don't ever close.
  • #3,054
  • Jun 16, 2012 7:07pm Jun 16, 2012 7:07pm
More inaccuraties...

Markets do close.

The spot fx market doesn't, but only technically so.

Only a few shops allow weekend trading (oanda is one of them).

Weekend trading is overestimated by the oanda lovers here as liquidity and volatility are still low. So it's not as interesting as it may sound.

Also, the fact that oanda allows weekend trading does not make oanda more of a "real market" like environment than legit ECNs. That's just ridiculous, and retail/non-institutional shops like oanda are probably the closest this poster has ever gotten to what he calls the "real markets", which explains the silly assumptions.

ps. Of course nothing's "wrong" with not having more experience (beyond retail, that is) or with being young (I'm only 24 myself). Just with the inaccurate statements passed off as expert knowledge.
  • #3,055
  • Jun 16, 2012 7:19pm Jun 16, 2012 7:19pm
Well ok I didn't specify that only fx markets never close but seeing as this is "forex factory" and the Market in discussion was forex I decided to just say that markets never close, as opposed to fx markets never close

I am truly sorry that I wasnt specific enough, I just assumed people would have a grain of intelligence here.

Once again sorry.

And like I've said before, the weekend is for trading as most would perceive it, I use it for adjusting exposure to news releases. Very useful and saved me thousands of dollars, if you know how
  • #3,056
  • Jun 17, 2012 12:12am Jun 17, 2012 12:12am
I didn't see this in your pdf but I have heard this discussed. I call this the net hedge model. I don't believe anyone is really using stp and most are using this or they are just trading against you. In the net hedge model, as the name might suggest the broker is just hedging his net position. That is to say that if his customers have 10,000 lots short EURUSD and 20,000 lots long EURUSD then his net position is long 10,000 lots. He must maintain this hedge according to his net position as it changes.

There are a number of advantages to this. Lower risk than keeping the trades in house since all risk is hedged. While he doesn't make money when the trader loses, he makes 100% of the spread that he doesn't have to hedge. He makes more money than stp, but he can still claim that he doesn't make money when you lose which a lot of traders are scared abotu these days. Another side benefit to this is that the broker can take smaller trades this way. Since he is only sending orders on the market equal to his risk, he can accept orders of any size. True he may not have a tot risk of an even lot amt that he can place on the open market, but this should be offset by all the money that he makes on the spread plus all of the volume that he doesn't have to hedge.

I believe in Oanda's case that they felt that the volume and movement over the weekend are generally so low that's it's insignificant and there is really no need to hedge. However with the big elections there will probably be significant movement and they will not be able to hedge their risk because it will be Sunday so they will not be open. I think this also proves that Oanada is actually hedging some of their risk because if they weren't then there would be no need for them to close.

Quoting a.speculator
ok. here is the lesson for the day:

"OANDA is the only forex provider that permits off-market, weekend trading."

this is how they make money on Saturday Traders. This is coming from a broker's Business Plan.
  • #3,057
  • Jun 17, 2012 1:42am Jun 17, 2012 1:42am
Quoting JeremyWS
markets don't ever close.

If the market trades the weekends we should see gaps on Monday's
  • #3,058
  • Jun 17, 2012 2:02am Jun 17, 2012 2:02am
i have invested 200 dollar i want to invest more .i want to invest 100 dols more .is it ok broker to invest oney? .safe ?some body told me .oanda dnt have money insurance .he refer me fxsolution uk.what ur openion guys .tomorrow is day of investment .s6 i have to decided today
  • #3,059
  • Jun 17, 2012 2:04am Jun 17, 2012 2:04am
oanda have changed the rules .no more of market tradinhg
  • #3,060
  • Jun 17, 2012 6:06am Jun 17, 2012 6:06am
Lol... nice discussion. Of course it does not close. Some tourists exchanging their money at some local money exchange at Sunday evening to buy some booze is a forex spot transaction too and it does move the market... though about as much as any of your trades make oandas marketmaker market move... not even to talk about the real market that none of your trades will ever reach.
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