So, if they widen the spreads when price approaches S/R or pivots, or whole numbers, etc., considerably more potentially winning positions will be taken out. 
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Ivan's Trade Thread, part II
- Thread starter Ivanovich
- Start date
Please wait for an agent to respond.
You are now chatting with 'OANDA'
Ivan: Hi. Question is regarding a stop loss.
Ivan: How much slippage should I expect when setting a stop loss?
Ivan: you there?
OANDA: Slippage can occur if the market is volatile, but usually it is executed by server at the price you have set
Ivan: I set AUD/JPY stop loss at 67.10. It closed at 67.17.
Ivan: Is the market THAT volatile today at 1:30PM EST?
OANDA: What is your username?
Ivan: *********
Ivan: last trade in the log.
OANDA: Let me check your account. One moment please
OANDA: Thank you for waiting. Yes, you can see that right at that time the price went suddenly up till 67.27, that is why the SL was executed with 7 pip slippage
Ivan: So this is normal then? I should expect this? Because I've not experienced it before with you guys.
Ivan: Again, I've been trading with you guys for over 4 years now. This is not something I've seen - yet it's happened a lot in the last month. You might want to take note of that. It's evidence of "slippage" in platform service.
Ivan: Thanks for your time.
You are now chatting with 'OANDA'
Ivan: Hi. Question is regarding a stop loss.
Ivan: How much slippage should I expect when setting a stop loss?
Ivan: you there?
OANDA: Slippage can occur if the market is volatile, but usually it is executed by server at the price you have set
Ivan: I set AUD/JPY stop loss at 67.10. It closed at 67.17.
Ivan: Is the market THAT volatile today at 1:30PM EST?
OANDA: What is your username?
Ivan: *********
Ivan: last trade in the log.
OANDA: Let me check your account. One moment please
OANDA: Thank you for waiting. Yes, you can see that right at that time the price went suddenly up till 67.27, that is why the SL was executed with 7 pip slippage
Ivan: So this is normal then? I should expect this? Because I've not experienced it before with you guys.
Ivan: Again, I've been trading with you guys for over 4 years now. This is not something I've seen - yet it's happened a lot in the last month. You might want to take note of that. It's evidence of "slippage" in platform service.
Ivan: Thanks for your time.
Not to complain, but I had a target, short on E/J, 125.05
The price went through the stop and paused for nearly 5 seconds before clearing at 125.07. What concerns me was the price went THROUGH my TP by a couple pips. I understand about price touching or going through to trip a stop, but that seemed a little long, I had time to to ready a manual- close.
The price went through the stop and paused for nearly 5 seconds before clearing at 125.07. What concerns me was the price went THROUGH my TP by a couple pips. I understand about price touching or going through to trip a stop, but that seemed a little long, I had time to to ready a manual- close.
Quote from Ivanovich:
I'm chatting with them at the moment. He claimed it was exceptionally volatile. Nothing has been volatile all day, and this was 1:30PM EST.
fwiw
i have noticed for several weeks now that spreads in most of the crosses i trade have been extremely volatile on three different live platforms. it does not matter if the mkts are volatile or not, but the spreads and thus prices are. it became so ridiculous that i contacted one of the brokers about it. i have cut & pasted their reply as it might help you understand
###########################################
Thank you for the email.
Thank you for your interest in FXCM. The market currently is displaying temporarily abnormal spreads and rollovers.
Due to financial market turmoil, bank price providers are widening their spreads. As the rates that we stream are based on the rates provided to us by multiple global banks, the spreads displayed on the platform will likely be wider than normal. We expect spreads to return to normal levels within a few days.
The last time there was significant stress in the money markets, August 2007, when the recent bank sector issues started, the event lasted a few days before normalizing.
Rollover rates will be significantly different from normal due the extreme conditions of the credit markets. Central bank intervention is playing havoc with short-term interest rates. There may be instances where roll rates are negative on both the buy and sell side. FXCM roll rates are reflective of the roll rates that are being given to us by our banks.
When financial crisis becomes this serious central banks often want to reduce speculation and therefore volatility. The easiest way to do that is to hike up rollover rates (overnight rates) and make the spreads super wide. This means that no matter what direction the speculator is in he is going to be paying the roll.
Also in the direction banks really don't want you to be in they will make the roll prohibitive. For example during the Asian crisis in 1998 the Hong Kong monetary authorities raised overnight rates to about 500 percent for two days to make it painful for speculators to short the HK dollar. The same is happening now to a smaller degree.
As a trading firm, we seek to be very transparent in our pricing and our business. We would be happy to discuss this further with you, please let us know if we may clarify further.
For more on the current volatility, click on the following Bloomberg and DailyFX articles here:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ax0QSsoONH14
http://www.dailyfx.com/story/market...Market_Conditions_Dries_up_1221664762744.html
Regards,
FXCM Micro - Sales & Client Services
32 Old Slip, 10th Floor
New York, NY 10005
Yeah it's getting ridiculous at Oanda.
Paying these ridiculous spreads and then having to deal with the slippage (which is really starting to get out of hand, especially since Oanda is a market maker) is pissing me off.
I am aware that if price just touches your stop/TP level then you may not get a fill because of the spread, the price has to exceed the level by an amount depending on the spread...so I get that part...
But man you'll have a spread of say 7 pips on e/j and price will roll on through by 10 pips easy and no execution. That shit will start to affect your trading if you're on 1-5 minute charts.
Then of course tech support will deny it or come up with some BS explanation after you've waited 4-5 minutes for someone to answer on chat.
Funny stuff. They can use the recent market as an excuse for now, but eventually people will start catching on and leaving if they keep pulling this shit.
Paying these ridiculous spreads and then having to deal with the slippage (which is really starting to get out of hand, especially since Oanda is a market maker) is pissing me off.
I am aware that if price just touches your stop/TP level then you may not get a fill because of the spread, the price has to exceed the level by an amount depending on the spread...so I get that part...
But man you'll have a spread of say 7 pips on e/j and price will roll on through by 10 pips easy and no execution. That shit will start to affect your trading if you're on 1-5 minute charts.
Then of course tech support will deny it or come up with some BS explanation after you've waited 4-5 minutes for someone to answer on chat.
Funny stuff. They can use the recent market as an excuse for now, but eventually people will start catching on and leaving if they keep pulling this shit.