Joined Jan 2008
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Status: I'll Take Your Pips
|1,338 Posts
Hmmmm. Ok. I just noticed it and it was approximately 2 hours before NY close. It could've been closer to 1 hour, but definitely wasn't within minutes of NY close. Interesting.
Hmmmm. Ok. I just noticed it and it was approximately 2 hours before NY close. It could've been closer to 1 hour, but definitely wasn't within minutes of NY close. Interesting.
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Yes they may widen them a few hours prior to NY close. On sundays they dont lower the weekend spreads until a few hours after the market open. You may want to look at the spread statistics.
Private message me for a link to my order flow website.
I am new to FF but not to financail markets... ARE YOU TELLING ME OANDA ALLOWS YOU TO TRADE FOREX ON THE WEEKEND!?!?!?
The first thing that confuses me is do they just take the risk on the trade and then hedge it on Sydney Market open?
Second, say for instance there was an earthquake in tokyo on saturday when markets are closed. would Oanda let me go short yen???? I mean even at a 100 pip spread you would make a killing come open on Monday. i cannot see this being a profitable way for them to do business.
is this the same for ECN brokers? spreads increase on sunday? BY THIS MUCH?
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Oh my god! You meant to tell me that spreads widen when there's no liquidity in the market because the market's not actually open and it's an artificial market then!? Damn, what do I do now?
I am new to FF but not to financail markets... ARE YOU TELLING ME OANDA ALLOWS YOU TO TRADE FOREX ON THE WEEKEND!?!?!?
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Yes. Their spread is usually 20 pips for GJ and 10 pips for UJ.
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The first thing that confuses me is do they just take the risk on the trade and then hedge it on Sydney Market open?
I don't know how they handle that.
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Second, say for instance there was an earthquake in tokyo on saturday when markets are closed. would Oanda let me go short yen???? I mean even at a 100 pip spread you would make a killing come open on Monday. i cannot see this being a profitable way for them to do business.
Yes, it would be possible. Probably Oanda will widen spreads in that case. Sometime the price moves bit during the weekend. I think they calculate the probabilities for some moves and price them in.
Remember that Oanda is a market maker and so if you're a small fish, you can trade pretty much exclusively within their own pool of liquidity.
As for the potential profitability trading on the weekends preceding a disaster, Xaron is correct. Spreads are not truly fixed, even on the weekend and so theoretically, Oanda could widen the spread to 5,000 pips if they thought is necessary I suppose.
Yea i understand that they make their own market (virtually all brokers make their own market in one way or another). I just think that it is a bit silly to make a market on the weekend when there really is no action.
I am new to FF but not to financail markets... ARE YOU TELLING ME OANDA ALLOWS YOU TO TRADE FOREX ON THE WEEKEND!?!?!?
The first thing that confuses me is do they just take the risk on the trade and then hedge it on Sydney Market open?
Second, say for instance there was an earthquake in tokyo on saturday when markets are closed. would Oanda let me go short yen???? I mean even at a 100 pip spread you would make a killing come open on Monday. i cannot see this being a profitable way for them to do business.
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whatever you want but you would end up paying a huge spread so its not possible to exploit it such way.
is this the same for ECN brokers? spreads increase on sunday? BY THIS MUCH?
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basically it doesn't matter because no matter what anyone tells you, orders under 300k do not go to the interbank market(which has nil liquidity on weekends). so to answer your question, your broker can do whatever the hell they please and you've agreed to it by signing up with any of the forex brokers.
