Just opened the desktop Oanda and realized you can pop out the different items and put them on the screen just lilke you would an ecn platform.
You now have 1 click trade execution!
Also when you put your mouse over the buy/sell a pop up comes up with all the information about the trade you are about to execute with one click.
This is how I had MBT set up but I think Oanda's pricing is way better than MBT.
The only thing I dont like about OANDA is the 50:1 leverage. This is because Im a scalper and scallpers need leverage because they need the pip value to be high because their stoploss is only 6-8 pips. So on 1000 with a 2% risk $20 can be lost per trade. For 6 pip loss this is $3/pip which with Eur/USD you must use 48,000 USD. This is your total margin. So you really have just enough margin to make one trade. So if your trying to scalp two pairs just hope that the opportunities dont overlap each other. Also you can try to scale back a little and scalp with a 10/10 ST/TP and split your margin between two trades.
Oanda says that 50:1 is way more than is needed but this is not considering scalpers. Its plenty when you have a 50 pip stop loss and you only need the pip value to be .40 , then you need less than 10,000 of your 50,000 margin and have room to make 4 more trades of equal value.
Still maybe more than 50:1 is more dangerous. No matter how much leverage you have, never put more than 2% of capital on a trade and you should be fine.
Anyways, It's very hard to beat the benefits of Oanda and I'm looking forward to going live with Oanda very soon.
Mike Lewthwaite
.
You now have 1 click trade execution!
Also when you put your mouse over the buy/sell a pop up comes up with all the information about the trade you are about to execute with one click.
This is how I had MBT set up but I think Oanda's pricing is way better than MBT.
The only thing I dont like about OANDA is the 50:1 leverage. This is because Im a scalper and scallpers need leverage because they need the pip value to be high because their stoploss is only 6-8 pips. So on 1000 with a 2% risk $20 can be lost per trade. For 6 pip loss this is $3/pip which with Eur/USD you must use 48,000 USD. This is your total margin. So you really have just enough margin to make one trade. So if your trying to scalp two pairs just hope that the opportunities dont overlap each other. Also you can try to scale back a little and scalp with a 10/10 ST/TP and split your margin between two trades.
Oanda says that 50:1 is way more than is needed but this is not considering scalpers. Its plenty when you have a 50 pip stop loss and you only need the pip value to be .40 , then you need less than 10,000 of your 50,000 margin and have room to make 4 more trades of equal value.
Still maybe more than 50:1 is more dangerous. No matter how much leverage you have, never put more than 2% of capital on a trade and you should be fine.
Anyways, It's very hard to beat the benefits of Oanda and I'm looking forward to going live with Oanda very soon.
Mike Lewthwaite
.
Attached Image (click to enlarge)
