OANDA default stop loss WARNING
- Thread starter crazycanuck
- Start date
Not necessarilly a bug. I have thought on this for a moment. There is a combination of a user defined field held local and a changing quote field at Oanda. This is Java.
Michael B.
Michael B.
Your trading style is your business.
When it becomes Oanda's business is when you interfere with their hedging program. They claim they make money on the spread and their computer has automated this process for their book.
Oanda does not really care how you trade.
Michael B.
I usually like to trade news, a few secconds before the release I place orders. My question is, does Oanda frown upon that type of trading? People trading news at Oanda, have you noticed slippage or bad fills problems during big volatility there?
When it becomes Oanda's business is when you interfere with their hedging program. They claim they make money on the spread and their computer has automated this process for their book.
Oanda does not really care how you trade.
Michael B.
I usually like to trade news, a few secconds before the release I place orders. My question is, does Oanda frown upon that type of trading? People trading news at Oanda, have you noticed slippage or bad fills problems during big volatility there?
During fast times Oanda has several ways of protecting their ability to hedge.
Read between the lines:
1) variable spreads
2) Dynamic Order ticket favoring the preset price not a locked in price from a parked trade ticket. However on a market order trade ticket the price is reported to you on that ticket, but the preset calculations are not streaming.
3)Adjusting the price quote with an offset, regardless of the spread. What you see is what Oanda presents. It may not be reflective of what banks trade with each other. This is a secondary market and with the DOM and the various players there can always be a shadowing or a discrepancy with 1 or 2 pips.
I have traded with Oanda since June 2004 and have not tried the others. I feel fortunate to make the right choice for the way that I trade. I make my strategy around Oanda and their tools and I am embarrassed to admit that I could not trade without Oanda. Does that make me a bad trader? or one that utilizes his tools?
It is funny that many institutional traders actually prefer Oanda over the various software available to them including Currenex.
Michael B.
Read between the lines:
1) variable spreads
2) Dynamic Order ticket favoring the preset price not a locked in price from a parked trade ticket. However on a market order trade ticket the price is reported to you on that ticket, but the preset calculations are not streaming.
3)Adjusting the price quote with an offset, regardless of the spread. What you see is what Oanda presents. It may not be reflective of what banks trade with each other. This is a secondary market and with the DOM and the various players there can always be a shadowing or a discrepancy with 1 or 2 pips.
I have traded with Oanda since June 2004 and have not tried the others. I feel fortunate to make the right choice for the way that I trade. I make my strategy around Oanda and their tools and I am embarrassed to admit that I could not trade without Oanda. Does that make me a bad trader? or one that utilizes his tools?
It is funny that many institutional traders actually prefer Oanda over the various software available to them including Currenex.
Michael B.
One thing you will not find at Oanda is: (or at least I have never had)
1) requotes
2) freezing platforms
3)manual execution
There is a large group asking for trailing stop ability. I think this is part of the issue and problems brought out in this thread as to why we do not have them. It is not merely a bug. There are design constraints and possibly a policy decision that Oanda has not discussed with us.
1) requotes
2) freezing platforms
3)manual execution
There is a large group asking for trailing stop ability. I think this is part of the issue and problems brought out in this thread as to why we do not have them. It is not merely a bug. There are design constraints and possibly a policy decision that Oanda has not discussed with us.
Hey RedDuke..
As far as futures...
Hey go place an order for 12,550 single units (not contracts) of EUR/HUF...and while your at it go pull up a free chart from your broker.
Michael B.
As far as futures...
Hey go place an order for 12,550 single units (not contracts) of EUR/HUF...and while your at it go pull up a free chart from your broker.
Michael B.
Hi Electric,
Of course they do. Try opening and closing large size trades many time for duration of 1-2 minutes (even during no news times). Oanda will give you a warning and if you continue doing this, they will close your account and return capital to you.
Not sure what you mean by this. When I traded at Oanda I mostly traded EUR/USD and occasionally other majors.
I said it before and will say it again that Oanda is one of the best if not the best forex MM. But what you see at Oanda is not a true market. Where globex is.
Regards,
redduke
Of course they do. Try opening and closing large size trades many time for duration of 1-2 minutes (even during no news times). Oanda will give you a warning and if you continue doing this, they will close your account and return capital to you.
Not sure what you mean by this. When I traded at Oanda I mostly traded EUR/USD and occasionally other majors.
I said it before and will say it again that Oanda is one of the best if not the best forex MM. But what you see at Oanda is not a true market. Where globex is.
Regards,
redduke
RedDuke,
I have managed 1 million dollars in the past at Oanda, but that is considered a small size in this market.
I have scaled in over a two minute period and then closed all...
I have done this at various times at Oanda and I have never received a message like this.
But I am sure you did and I am not doubting your word....
Again, if you interfere with their hedging then Oanda makes it their business, but if you do not then Oanda does not care how you trade.
Michael B.
P.S. I see no reason to try and trade directly in the primary market and I am trading a very small live account (9k, soon to be fortified with 15k more) of my own money publically to prove it...stay tuned
P.P.S. I am a former CTA (thats the Futures market RedDuke) and I am not a fraud or a schill for Oanda. so readers do not even go there...and no! I will not trade your money, so do not even go there, either.
I have managed 1 million dollars in the past at Oanda, but that is considered a small size in this market.
I have scaled in over a two minute period and then closed all...
I have done this at various times at Oanda and I have never received a message like this.
But I am sure you did and I am not doubting your word....
Again, if you interfere with their hedging then Oanda makes it their business, but if you do not then Oanda does not care how you trade.
Michael B.
P.S. I see no reason to try and trade directly in the primary market and I am trading a very small live account (9k, soon to be fortified with 15k more) of my own money publically to prove it...stay tuned
P.P.S. I am a former CTA (thats the Futures market RedDuke) and I am not a fraud or a schill for Oanda. so readers do not even go there...and no! I will not trade your money, so do not even go there, either.
I look at it like this...
I am getting an uninsured variable interest rate of 4.87% APR on my USD cash if I do nothing at all at Oanda. Oanda was the largest in the last few months and I think they will continue to grow and remain the largest. Nobody gets special deals or rebates at Oanda and they do not advertise.
A high probability trade here and there could be a valid way to goose the yield and accelerate the interest earning size of my cash
hey... at the end of the year I might be up with the "genetically gifted pro's" making triple digit yields, we shall see.
There is plenty of trend for everyone...share...keep you marketmakers happy...and good trading to you.
Michael B.
I am getting an uninsured variable interest rate of 4.87% APR on my USD cash if I do nothing at all at Oanda. Oanda was the largest in the last few months and I think they will continue to grow and remain the largest. Nobody gets special deals or rebates at Oanda and they do not advertise.
A high probability trade here and there could be a valid way to goose the yield and accelerate the interest earning size of my cash
hey... at the end of the year I might be up with the "genetically gifted pro's" making triple digit yields, we shall see.There is plenty of trend for everyone...share...keep you marketmakers happy...and good trading to you.
Michael B.