Oanda just another bucket shop
- Thread starter MickMason
- Start date
50 pips is not slippage... it's an utter lack of a natural market at your price, period. ECN, dealer, futures... no difference. Inference: You can't handle the gaps and want some sort of insurance. Ridiculous.
Inexperienced? I talk daily with 3 traders who carry 7-figures at Oanda. One which hit $8mm in his account last week.
Good luck at CMC... you deserve each other.
Inexperienced? I talk daily with 3 traders who carry 7-figures at Oanda. One which hit $8mm in his account last week.
Good luck at CMC... you deserve each other.
This is one of the most hilarious threads regarding forex that I have seen in a long time.
The original poster has posts on other forex related forums where he portrays himself as a knowledgeable trader.
A knowledgeable forex trader knows not to use market orders at times like NFP and knows the strengths and weaknesses of the broker or market maker they are using before hand.
mickmason, you have shown yourself to be nothing but careless. I can only hope those people you bragged about giving you a million dollar account to trade read this thread to see the "caliber" of trader you really are....
The original poster has posts on other forex related forums where he portrays himself as a knowledgeable trader.
A knowledgeable forex trader knows not to use market orders at times like NFP and knows the strengths and weaknesses of the broker or market maker they are using before hand.
mickmason, you have shown yourself to be nothing but careless. I can only hope those people you bragged about giving you a million dollar account to trade read this thread to see the "caliber" of trader you really are....
You're right, it is!
Supposedly experienced traders giving advice like "don't trade retail", "don't use a marketmaker", "trade futures", "trade on an ECN", "don't trade NFP".....lol, and all that 'helpful' advice when the thread is really about Oanda being just another bucket shop who employ all the usual bucket shop tricks, it is truly hilarious to watch people who have their own agenda struggle to try and cloud an obvious issue.
Right, I see, well that's certainly true for Oanda but it's not true for all marketmakers, CMC being just one example. The suggestion to not trade one of the most potentially profitable fundamental events like NFP seems a little odd to say the least!
I don't believe I was bragging, I was simply asking where people would place that kind of money (and incidently didn't get any coherent replies!), but yes thanks, I got some of the funds and despite being such a low caliber, careless, and inexperienced trader the client is satisfied with both risk and return and is scheduled to add to his account later this year, I guess I must just be lucky huh
Toooooo funny, let's hope some of you guys read and understand the market better than you read and understand a few sentences on an internet forum.
For the challenged, the bottom line again (sigh), Oanda don't fill orders over NFP, they disconnect the platform for anyone trying to place a market order. CMC fill market orders on requote, a more honest way to do business in my opinion. No I don't want to trade futures, I'm quite happy trading spot. No I don't want to trade on an ECN-style platform, I don't like 50 pip slippage. And yes, I want to continue taking advantage of market moving events like NFP data release, trading fundamentals accounts for roughly 30% of my returns.
All sounds pretty straightforward to me......
Anyway, have a great trading day all, whatever you're trading and whoever you're trading it with!
Mick