Can you open opposing positions with Oanda? In other words, is it possible to have a buy and a sell open at the same time in order to hedge? I could not find this on their website. -Teek
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Quoting americanteekDislikedCan you open opposing positions with Oanda? In other words, is it possible to have a buy and a sell open at the same time in order to hedge? I could not find this on their website. -TeekIgnored
Quoting fx_trendyDislikedHave you ever got whipsaw in OANDA?Ignored
Quoting squat1962DislikedYou definitely need to be aware of the spread changes with Oanda. Pretend you have a couple lots long on gbpusd and there is a news release at 8:30est for the united states. Well, I like to tighten up a stop loss around news time... however, with Oanda I take extra caution because when the spread is widened 15pips+ and your stop loss gets triggered it is quite agitating (it is commonly widened to 10 pips, but i have seen 15).
anyway, it is certainly requires a trader's attention. my understanding is all the brokers have technique for managing news release times. Not sure I buy into the volume/volatility argument though. Aren't most technical traders prone to getting out or at least not placing orders during news releases? it seems like most individual traders who would be clients of these brokers are technical type traders. Obviously, there is volatility...... but some of that has to be banks taking positions??
anyway, yes.... oanda widens the spreads and you need to be aware of it.Ignored
Quoting girdle66DislikedHow do we make a profit on Oanda? Just like this! (See attachment.)
Oanda has always been good for me using the idea of straddling a channel right before a news release. It's especially nice because I don't have to spend all day watching graphs and trying to get my work done. Just 5 minutes in the morning.
It's worth noting that I only do this when it's an orange or red news release on the FF calendar. Also, I'm never really risking that much. The only risk is the difference between your limit buy price and limit sell price, usually no more than 8-15 pips.Ignored
Quoting turbokaosDislikedGirdle66,
I don't use Oanda but thanks for showing a screen shot. That is exactly what one of my mates does.
All I got to say is: if it's not broke don't fix it
TurboIgnored
DislikedYesterday, i didn't realize the thing about the spreads changing until someone mentioned it. Since I've only been on the demo for a day, I simpley didn't notice it. That got me a little nervous so i wanted to know from OANDA users how you are able to make consistent profits when the spreads can change even while you are in a trade? Like, once you're in a trade and you're making a profit, have you ever noticed the spread changing suddenly and thereby erasing any profit you may have made?
I still plan to pursue it - mostly due to all the good reviews. But i'm just worried about the spreads changing without warning.Ignored