OANDA: Currently, market conditions are not conducive for us to offer a 0.9 pip spread consistently.
OANDA: When market conditions are more favorable, the spread should go back down to 0.9 pips
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DislikedI trade it manually on Oanda. I was just saying an EA would be nice.
The entry: At NY and London open, when price has moved at least two pips from open, enter in that direction, and get to break even as soon as possible. Like Tony says he will move it by a half a pip at a time. I am at break even by +3 pips or sooner.
I am seeing how it goes changing my stop to 1.5 pips, which Tony had mentioned before too, because when it goes against me with spread it is taking 3 pips which turns out to be about 1.3%.Ignored
DislikedI'm concerned about the drawdown too. If just half of the entries are stopped out at 2 pips, really 3 pips with a 1 pip spread, then with the Oanda settings mentioned we can expect over a 20% monthly drawdown if without a epic hit.
By the way the system is on the first page of thread.Ignored
DislikedTony you will need an ECN.
Dukascopy, MB, IB or similar
Placing your order will probably be a lot more difficult than it is on Oanda's platform, which is why I use an EA. I might be able to help you out there.
For the posts regarding spread. Yes it is part of your stop, so if you place a 2 pip stop and the spread is 0.9 of a pip then the market has to move 1.1 pips from your entry to take you out.
I have attached some spreads from MB and GloCap. MB is well known and I trade with them. GloCap I am experimenting with their demo MT4 platform....Ignored
DislikedThanks a lot Salient, I am looking into it. Oanda has created a non-tradable environment for me, even a 0.4 pip difference makes a huge diffence when you trade big digits and I refuse to place any future trades under these circumstances.Ignored