OANDA shutting down on news

[Wallace]

TRS, I'm well aware of the difference between trading futures v spot currencies:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=172655

this isn't about futures v fx trading but Oanda's behaviour, and not allowing companies
to conduct business improperly/illegally

 

[TRS]

Wallace, I wasn't implying you were some newb to the trading game.
Just that OANDA is touted as the best FX shop out there... the issue you raise doesn't sound like best practice to me, if proven true.

You can expend your time and energy with your perceived issue with OANDA or vote with your feet and your capital.

 

[cvds16]

well, they are the best 'under normal circumstances', it seems to be not just when NFP is out ... gonna have to adjust my strategy a bit for that one ...

 

[TRS]

Quote from cvds16:

well, they are the best 'under normal circumstances', it seems to be not just when NFP is out ... gonna have to adjust my strategy a bit for that one ...

Review you gave OANDA was correct. Best of the shops.

FX Futures aren't perfect, but in my opinion they leave the shops far behind.
Keep a shop for hedging.

 

[orange_trad]

Quote from TRS:

Without getting in the whole Spot/Futures debate, this is one of the reasons I trade FX Futures.

OANDA down on news. Shock would've been if they stayed open.

This is not an issue of spot vs. futures. Neither IB nor MBT flinched during NFP. This is an issue of business model, aka. bucket vs. ECN and that bucketshops are really not suitable to scalping and trading news.

 

[TRS]

Quote from orange_trad:

This is not an issue of spot vs. futures. Neither IB nor MBT flinched during NFP. This is an issue of business model, aka. bucket vs. ECN and that bucketshops are really not suitable to scalping and trading news.

I say this without a hint of sarcasm, well done to IB & MBT for trading as one would expect.

 

[Wallace]

Quote from TRS:

You can expend your time and energy with your perceived issue
with OANDA or vote with your feet and your capital.

"perceived issue" ? ? ?

TRS, your comments really are short sighted

whether or not I wanted to trade I was prevented from doing so by Oanda
with whom I have a trading account

so far as I know based on no posts of any other brokers doing the same, Oanda is
the only broker repeatedly disconnecting clients' FXTrade accounts

'walking away' is NOT the answer to what Oanda is doing

 

[TRS]

Quote from Wallace:

"perceived issue" ? ? ?

TRS, your comments really are short sighted

Mate, I'd say my vision is 20/20. I wasn't the one who was shafted.

 

[Wallace]

TRS, the 'short sighted' was not to do with you choosing futures over fx, rather the
manner of dealing with Oanda's disconnects
besides which they have more of my money than I do of theirs !

 

[TRS]

Quote from Wallace:

TRS, the 'short sighted' was not to do with you choosing futures over fx, rather the
manner of dealing with Oanda's disconnects
besides which they have more of my money than I do of theirs !

The manner in which I would deal with these disconnects would be to transfer my capital thus my trading to the futures market.

If they have more of your money than you do of "theirs" I would suggest concentrating on your trading to be your priority.