I personally think that Oanda is the best mm there is. Note that I said mm and not broker because there are plenty of better brokers out there that are not mm. Anyways I would just ask yourself, are you making money? If you are then add more. If you aren't then maybe you shouldn't even be trading with that amount. Also note that Oanda is one of the only mm brokers out there that doesn't have even a single warning from any regulatory body. They might be the only one.
I personally think that Oanda is the best mm there is. Note that I said mm and not broker because there are plenty of better brokers out there that are not mm. Anyways I would just ask yourself, are you making money? If you are then add more. If you aren't then maybe you shouldn't even be trading with that amount. Also note that Oanda is one of the only mm brokers out there that doesn't have even a single warning from any regulatory body. They might be the only one.
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ty .. i have invested 100 more dollars. total 271 dollar
whee pip value is 1. dollar now lets see can i earn or not
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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sure, tourists exchanging money create a market that stays open... but is that the same market that will provide trade-able opportunities for a leveraged foreign exchange trader to profit from?
arguing that the market remains open because there are tourist conducting transactions in foreign countries, or because a brokerage is re-evaluating their hedged positions on a saturday night, really does nothing to enable the profitability of the accounts of the 95% of "traders" out there choosing to "trade" at such "opportune" moments of market doldrums...
nor does it constitute a market that is open for most leveraged transactions to take place. You know that there is an extended market where the value of futures products, for example, are traded and adjusted overnight... however, in your retail platform, you wont be able to make a trade in those markets until that market with the CME has officially begun to conduct trading operations as agreed with your brokerage... hence the reason you can spot a gap between the previous days close and the new day's open when you dont chart the overnight sessions. same thing that happens on most fx retail trading platforms and brokerages over the weekend...
so yes, "Technically Speaking" the market is "Open"... but its not really open for you to conduct profitable trading operations with you 24 hours a day now is it? (more like 24/6 in 99% of the trading world.)
yeah... didnt think so. unless you trade with Oanda, and if it is in your trading plan, then I guess that's what youre doing.
but i dont understand why anyone would want to trade when only tourist transactions are being conducted and when the spreads are in excess of 20 pips...
im not arguing about the quality of oanda's service... i have considered them before for my own operations and i still may use them at some point...
what i am questioning... is the validity of the opinion that trading on a saturday is a viable and profitable endeavor for the retail trader. i think it is pointless and better left for other, more fulfilling activities. so at the end of the day, who the hell cares if they shut down trading over the weekend?!
i even reasoned that because it is the broker's prerogative to earn a profit for their investors, their strategy will always lean towards committing to actions that will enhance their revenues as much as possible. hence the reason why i believe that they offer saturday trading when, by there own admission, no one else does. brokers have always looked for creative ways to keep their "Customers" gambling... er trading! jesse livermore even wrote about the day when the brokers started opening up trading offices on cruise ships at the peak of the Crash of 1929. the greedy pigs who couldn't get away from the market to enjoy the cruise ship went to europe rich men, only to return slaughtered hogs...
in attempting to understand the technical options that a broker will have at their disposal to increase the revenues, i deduce that they will use the method that will earn them as much profits on the days, that they know, the probabilities of such operations will be on their side. the days the desperate, under capitalized, greedy, in-experienced rookies will be out looking to make a million dollars over night... on saturday night no less...
that being said, i have resolved to not participate in such events by educating myself as to the possible tactics of those trading against me in these markets and that my friends is what i was trying to espouse to the forum... im not saying that OANDA is treating you like a gambler because they believe that 95% of those trading on saturdays will lose on those days with low liquidity, volume, and volatility... i am just saying that there is a probability that there is a market adversary who acts like that for those who want to believe the market is open 24 hours a day for tradeable opportunities...
Ill leave you guys with this idea:
"It is a doctrine of war not to assume the enemy will not come, but rather to rely on one's readiness to meet him; not to presume that he will not attack, but rather to make one's self invincible." - Sun Tzu, The Art of War
good luck traders. stay vigilant.
you're 100% spot on... their trades will never reach the real market...
Joined Dec 2011
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Status: unknown quantity
|413 Posts
I think you got something wrong there. I never stated that you should trade that market. I just stated that it is actually impossible to "close" the fx market at any time.
I would never trade with Oanda or any of the marketmakers that are so prominent here. Would rather take the money and invest it in liquid assets as in some proper booze...
I stated multiple times that no broker in the world will ever be your "friend" and no broker will ever not engage in some kind of "frau*" against you be it by slipping you 0.3pips, padding spreads or whatever which you will never ever be able to proof. Brokers job is to earn money... earn money of you and they will take all they can get which in the case of marketmakers is 99.9% of the time more than they are supposed to through various shady things.
sure, tourists exchanging money create a market that stays open... but is that the same market that will provide trade-able opportunities for a leveraged foreign exchange trader to profit from?
arguing that the market remains open because there are tourist conducting transactions in foreign countries, or because a brokerage is re-evaluating their hedged positions on a saturday night, really does nothing to enable the profitability of the accounts of the 95% of "traders" out there choosing to "trade" at such "opportune" moments of market doldrums......
I think you got something wrong there. I never stated that you should trade that market. I just stated that it is actually impossible to "close" the fx market at any time.
I would never trade with Oanda or any of the marketmakers that are so prominent here. Would rather take the money and invest it in liquid assets as in some proper booze...
I stated multiple times that no broker in the world will ever be your "friend" and no broker will ever not engage in some kind of "frau*" against you be it by slipping you 0.3pips, padding spreads...
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i was elaborating on the points i was making earlier, i agree with you 100%
hello few months ago oanda created mt4... it was very bad... then changed my broker.
what about now? how is it?
pls tell your experience.
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Oanda on MT4 is great, even though trading should be done through fxtrade, the fastest platform out there for retails, no slippage or delay, positions filled instantly.
I agree Jeremy. Oandas fxTrade is a good platform, no requotes, orders filled, never had any problems with it. I use MT4 only to connect it to my trade explorer.
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Joined May 2006
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Status: Dynamic Expansion & Contraction
|360 Posts
I thought I'd try Linux with Oanda. Well I spent about 10 hours struggling with Ubuntu 12.04 and Mint 13 both 32bit. Java 6 Rev 24 installed and functioning. Yet FxTrade would not load past 40% on Firefox,Chrome,Opera. The desktop applet would not do anything at all.
Anyone Successful with Linux using FxTrade ? I contacted chat support and sadly with 3 different reps got no useful interaction other than the basic cue card readers response.
I thought I'd try Linux with Oanda. Well I spent about 10 hours struggling with Ubuntu 12.04 and Mint 13 both 32bit. Java 6 Rev 24 installed and functioning. Yet FxTrade would not load past 40% on Firefox,Chrome,Opera. The desktop applet would not do anything at all.
Anyone Successful with Linux using FxTrade ? I contacted chat support and sadly with 3 different reps got no useful interaction other than the basic cue card readers response.
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Yes, I was successful in running fxTrade on Oracle Java version 7 on both Ubuntu 12.04 and Xubuntu 12.04 on both browser and desktop fxTrade version.
Although do not bother to run such java applets as fxTrade on OpenVZ based linux VPS, it will not run because of the way Java allocates memory (needs large chunk of contiguous memory) which OpenVZ fails to provide since it allocates from common memory pool.
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Joined May 2006
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Status: Dynamic Expansion & Contraction
|360 Posts
Appreciate the response "retty" I am new to linux and don't quite have the skill for the more complicated installation aspects. I used the software manager to install it's done with android and apple stuff like an app store ready made. They provide only some version of java 6 and 7 and some thing called Icetea? with all that installed it's no good for FxTrade it will open java powered charts on dailyfx website so I can see the java is working. I did try to download the oracle java it asked me for login credentials. Is it obtainable from another source?
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Membership Revoked
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Joined Jun 2010
|1,246 Posts
Honestly I'd LOVE to ditch microsoft and switch to a linux based system instead, if it weren't for all the compatibility issues and what a hassle it is to make stuff work there. I mean, even MT4 is not linux-compatible, and you have to use Wine as a workaround, which raises other issues and so on and so forth... No thanks, way too much time wasted just trying to get stuff to work. I'm sticking with win 7. Best OS I've ever used I'm afraid.
Honestly I'd LOVE to ditch microsoft and switch to a linux based system instead, if it weren't for all the compatibility issues and what a hassle it is to make stuff work there. I mean, even MT4 is not linux-compatible, and you have to use Wine as a workaround, which raises other issues and so on and so forth... No thanks, way too much time wasted just trying to get stuff to work. I'm sticking with win 7. Best OS I've ever used I'm afraid.
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I hope win 7 will stay for a long long time because win 8 have a kill switch
Appreciate the response "retty" I am new to linux and don't quite have the skill for the more complicated installation aspects. I used the software manager to install it's done with android and apple stuff like an app store ready made. They provide only some version of java 6 and 7 and some thing called Icetea? with all that installed it's no good for FxTrade it will open java powered charts on dailyfx website so I can see the java is working. I did try to download the oracle java it asked me for login credentials. Is it obtainable from...
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Hi just download Oracle jre 7.05 will be good. I have run it on ubuntu 12.04 it works great. Don't bother about IceTea plugin, it can't launch fxTrade.
When you go to Oracle website look for jre version, or if you are java programmer you can download jdk. If not jre is what we normal user use. Select linux file : size 32.8mb.
Appreciate the response "retty" I am new to linux and don't quite have the skill for the more complicated installation aspects. I used the software manager to install it's done with android and apple stuff like an app store ready made. They provide only some version of java 6 and 7 and some thing called Icetea? with all that installed it's no good for FxTrade it will open java powered charts on dailyfx website so I can see the java is working. I did try to download the oracle java it asked me for login credentials. Is it obtainable from...
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IcedTea is part of OpenJDK, better go with the recommended option i.e. Oracle Java. Here's how to install Oracle Java newest version on Ubuntu: http://superuser.com/questions/35398...u-11-10-oneric (look under 12.04)
