Never Trade With Oanda If You Want To Trade Seriously

[davidmaria1]

Quote from bugscoe:

Lets keep in mind that there has not been one single post that I can find about a disconnect during yesterdays NFP. That's awesome. The good things always go unmentioned while one guy in Timbuktu who experienced a disconnect will probably end up starting a thread about it.

And lets also not forget the numerous other posts on this forum alone about various broker disconnects and data lags during high volume trading. It's an unfortunate part of the business and simply another risk you need to factor when putting a trade on. It certainly is not a problem that is unique to Oanda as this thread seems to be implying.

As for the slippage - it's nothing more than an inherent flaw with the speed of the Java platform. I make about 20-30 RT trades a day so I'm very aware of the "slippage" as some refer to it as. And it aint on no frackin demo account either.

 

[davidmaria1]

Sometimes I forget about the Java aspect.
Any stops/orders etc. are held on the server side, is that correct?

 

[prairie_piper]

Quote from olivierteper:

But since couples months , 8 trades on 10 get the problems with the spread latency . I mean thoses trade are never in my click prices , and i have had always some difference between the prices cilcked and the results , most of the time i had some 1 more points o the euro dollars and 1.5 on Cable

I have experienced this frustration, but came to realize the chart is only updated every 5 seconds with Oanda. So you will get the price that is at the server when you click, which isn't always the same as what the chart is showing...especially in fast markets. If this is a big concern for you, then use the Upper/Lower limits.

Also note that this will work in your favor as well as you will sometimes receive a better price when entering/exiting a position. In the end it all evens out.

Lastly, if 1-2 pips is that big of a deal for your trading......well, yikes!

 

[cabletrader]

Quote from prairie_piper:

the chart is only updated every 5 seconds with Oanda.

What

Quote from prairie_piper:

if 1-2 pips is that big of a deal for your trading......well, yikes!

What

 

[cabletrader]

Quote from traderNik:

I don't think Oanda's is an ECM model, is it?

You're right, it isn't an ECN, it's just another bucketshop. Nothing wrong with bucketshops though, they have their uses.

 

[forestgril]

Quote from cabletrader:

On what timeframe?

And what would have happened to your 'proper fibo' if the number had come in positive 150k and the market had gapped down 100 pips :eek:

It's happened before, it's only a matter of time before it happens again and takes the market by surprise, and takes out all those lovely stops along the way

5 min and 1min on metatrader with some favourite indicators, but I spent most time on 5 sec on Oanda to have maximum insight in what is happening

what is positive 150k?

 

[OddTrader]

I think the key point is we the FX traders would need a web site (probably operated by any authorised agents of international Governments) that is able provide prices information by comparing the Interbank markets against any other FX platforms like Oanda.

There should be no reason this web site is still not available yet. Just a thought!

 

[cabletrader]

Quote from forestgril:

I spent most time on 5 sec on Oanda to have maximum insight in what is happening

what is positive 150k?

What can I say.......

 

[cabletrader]

Quote from OddTrader:

I think the key point is we the FX traders would need a web site (probably operated by any authorised agents of international Governments) that is able provide prices information by comparing the Interbank markets against any other FX platforms like Oanda.

There should be no reason this web site is still not available yet. Just a thought!

It would be nice to have a universal reference point for when it comes to disputes but I can't see any marketmaker going for it voluntarily, there's nothing in it for them.

 

[Ivanovich]

Quote from forestgril:

A higher IQ is always appreciated... unfortunately it is difficult to make it bigger (there are some techniques, but apparently not know to You Ivanovich ;p)

Anyhow, if You were a marketer of Oanda - they would not allow You to be too apparent. Sometimes one has to complain a little bit about Oanda's connectivity on the forum otherwise everyone would know at once...

I do not imagine a good crypto-marketer who stays here for longer time and on every forum writes something like:

"BROKER-X IS VERY VERY GOOD, NEVER NO PROBLEMS AT ALL, BUY THEIR SERICE NOW! CALL 1-666-666-666"

Get over yourself. I am a trader, and I do not work for Oanda. The sooner you dispense with the conspiracy theories, the sooner you'll be able to focus on your (poor) trading ability.

If you don't like Oanda, don't use them. It's really that simple. I could honestly care less.

But if you're going to bash a company - ANY company I have used - and I don't agree, I'm going to provide a balanced viewpoint to counter your accusations. If I agree, I'll back up your statement. I have a right to my opinion just as you have a right to yours.

Is this clear now? I realize English isn't your first language, but I've tried to make this as transparent as possible.