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  • #5,621
  • Jul 23, 2019 2:08am Jul 23, 2019 2:08am
Quoting Hutch
{quote} My secondary broker dropped MT4 in May and forced everyone to trade exclusively on MT5. Since I had tried an MT5 demo account in the past and found it quite lousy I dropped that broker. If OANDA did the same as my secondary broker I would have no other choice but to drop OANDA
Understand Hutch, I trade OANDA mainly for the freedom of trading in units, so I only use the MT4 for Technical Analisys, but if they would dropMT4 for MT5, I would open a small or demo with an MT4 broker, and continue trading with OANDA.
I havenīt tested MT5, but I figure sooner or later there might be no choice..
  • #5,622
  • Jul 23, 2019 8:35am Jul 23, 2019 8:35am
Quoting jinsen
Oanda change my leverage from 50:1 to 20:1. My country mas requested. Damn.. Not sure if other country affected
As a pro trader I have a better leverage
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  • #5,623
  • Jul 23, 2019 8:38am Jul 23, 2019 8:38am
Quoting cuchuflito
{quote} Understand Hutch, I trade OANDA mainly for the freedom of trading in units, so I only use the MT4 for Technical Analisys, but if they would dropMT4 for MT5, I would open a small or demo with an MT4 broker, and continue trading with OANDA. I havenīt tested MT5, but I figure sooner or later there might be no choice..
The day OANDA drops MT4 is the day I drop OANDA
  • #5,624
  • Jul 23, 2019 10:26am Jul 23, 2019 10:26am
Quoting Hutch
{quote} As a pro trader I have a better leverage {image}
Lesse margin. Not good if position trading on several trade. Need be more selective and careful
  • #5,625
  • Jul 24, 2019 4:02am Jul 24, 2019 4:02am
Quoting jinsen
{quote} Lesse margin. Not good if position trading on several trade. Need be more selective and careful
Leverage can be good or bad. It all depends on how the trader uses it. If the trader has poor money management leverage doesn't matter.
I have a leverage of 100 with OANDA but I also have a leverage of 500 with another broker but it comes with higher spread.
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  • #5,626
  • Jul 24, 2019 4:32am Jul 24, 2019 4:32am
Hello! What did you think about Oanda Europe? Is it a good broker to start trading with?
  • #5,627
  • Jul 25, 2019 10:19pm Jul 25, 2019 10:19pm
I was curious if this is something all US brokers are doing or just Oanda?

Its really weird, I'm still trying to figure out how forcing clients to remove their SLs and TPs to add additional orders falls under FIFO.
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  • #5,628
  • Jul 26, 2019 10:16pm Jul 26, 2019 10:16pm
Alright so this a bit off topic but relates to Oanda.

Does anyone know what math model Oanda uses to calculate trade reliability in their "Edge Trader" site?
  • #5,629
  • Aug 8, 2019 8:24am Aug 8, 2019 8:24am
Quoting Anotan
I was curious if this is something all US brokers are doing or just Oanda? Its really weird, I'm still trying to figure out how forcing clients to remove their SLs and TPs to add additional orders falls under FIFO. {image}
Good brokers do their best to offer the best trading conditions to their customers. Except for the US I don't know any other countries' regulators that force brokers to implement FIFO since it is detrimental to trading. As a result I'm sure that this new "stupid rule" is not related to OANDA but to all US brokers. We all need to thank the NFA and CFTC for ensuring that they make it harder for all of us to make a profit.
  • #5,630
  • Aug 13, 2019 1:08am Aug 13, 2019 1:08am
From the beginning it was real clear to me that loading the 1m chart on mt4 platform was a joke and unreliable. I can deal with it. For about five months now, I've been experiencing a constant 2 minutes delay via mt4 during off peak hours, mainly asia session. I can deal with it. Today for several hours I've been watching 5 minute days.

Before we even BEGIN, it's NOT my computer.

Could it be settings on mt4? Maybe.
Could it be Oanda? MOST LIKELY given the excessive loading time, the consistency of delays.

At least they honor the quotes on the screen. Perhaps dishonor the quotes is next?

FIVE MINUTES? REALLY?

Does Oanda call this a trading experience? Where I pull up tradingview to get the latest quotes on price to determine a trade? For real?

My god.
  • #5,631
  • Aug 13, 2019 2:21am Aug 13, 2019 2:21am
FIFO only applies to US clients, right?
Forex, my love!
  • #5,632
  • Aug 13, 2019 2:28am Aug 13, 2019 2:28am
Quoting 2dollardog
From the beginning it was real clear to me that loading the 1m chart on mt4 platform was a joke and unreliable. I can deal with it. For about five months now, I've been experiencing a constant 2 minutes delay via mt4 during off peak hours, mainly asia session. I can deal with it. Today for several hours I've been watching 5 minute days. Before we even BEGIN, it's NOT my computer. Could it be settings on mt4? Maybe. Could it be Oanda? MOST LIKELY given the excessive loading time, the consistency of delays. At least they honor the quotes on the screen....
Go to Tools / Options / Chart tab and see how many bars you have open. I only use 2000 and it is a definite increase in mt4 speed. If you are trading 1M or 5M charts, you probably only need 600 in reality. I just use 2000 so I can scroll backwards a week without having to change the settings all the time.
You cannot be extraordinary by being normal
  • #5,633
  • Aug 13, 2019 7:45pm Aug 13, 2019 7:45pm
Quoting dkrock
{quote} Go to Tools / Options / Chart tab and see how many bars you have open. I only use 2000 and it is a definite increase in mt4 speed. If you are trading 1M or 5M charts, you probably only need 600 in reality. I just use 2000 so I can scroll backwards a week without having to change the settings all the time.
ty dkrock Doesn't happen with other brokers. I've reduced before.
  • #5,634
  • Aug 14, 2019 5:33am Aug 14, 2019 5:33am
Quoting 2dollardog
{quote} ty dkrock Doesn't happen with other brokers. I've reduced before.
Okay, just offering a potential solution. It is probably your computer then. Good Luck.
You cannot be extraordinary by being normal
  • #5,635
  • Aug 14, 2019 6:52am Aug 14, 2019 6:52am
Quoting TaoJin88
FIFO only applies to US clients, right?
FIFO has nothing to do with nationality. FIFO applies to all clients dealing with a US based broker. The problem is that it's illegal for US citizens to use brokers located outside the US. This is why many non-US brokers don't accept US clients. Of course many good brokers don't care about US regulations and accept US clients.
  • #5,636
  • Aug 20, 2019 9:55am Aug 20, 2019 9:55am
One loophole that I've used for years to with Oanda is placing each order in 00001 unit increments since they allow orders that small.

Say you want to take 3 positions at 3 different zones for 10k units each. I would place one at 10000, next at 10001, and last at 10002 etc. It doesn't have to be consecutive, the FIFO applies to orders of the same size so by changing the size of each order, the FIFO doesn't apply.

I could close the above trades in this order 10002, 10000, and then 10001 and no issues.

If you follow this methodology, your 10k order even if the first order could have a larger SL and TP and get triggered fine even if the other two orders came after it and had smaller SL and TP.
  • #5,637
  • Aug 20, 2019 10:37pm Aug 20, 2019 10:37pm
Quoting SentiFX
One loophole that I've used for years to with Oanda is placing each order in 00001 unit increments since they allow orders that small. Say you want to take 3 positions at 3 different zones for 10k units each. I would place one at 10000, next at 10001, and last at 10002 etc. It doesn't have to be consecutive, the FIFO applies to orders of the same size so by changing the size of each order, the FIFO doesn't apply. I could close the above trades in this order 10002, 10000, and then 10001 and no issues. If you follow this methodology, your 10k order...
That is not how FIFO works. It is for hedging positions in opposing directions. If you have a buy order based on a 4HR chart and want to take a quick sell scalp based on a 5M chart, you will automatically get the 4HR chart position closed. If you are stacking orders in the same direction, it is no applicable. If Oanda is making FIFO like you described, you need to contact them to correct that. The law is FIFO for hedging, not stacking.
You cannot be extraordinary by being normal
  • #5,638
  • Aug 21, 2019 12:12am Aug 21, 2019 12:12am
Quoting SentiFX
One loophole that I've used for years to with Oanda is placing each order in 00001 unit increments since they allow orders that small. Say you want to take 3 positions at 3 different zones for 10k units each. I would place one at 10000, next at 10001, and last at 10002 etc. It doesn't have to be consecutive, the FIFO applies to orders of the same size so by changing the size of each order, the FIFO doesn't apply. I could close the above trades in this order 10002, 10000, and then 10001 and no issues. If you follow this methodology, your 10k order...
Thank you for the information. I have been trading with OANDA since 2006 and did not know this trick
  • #5,639
  • Aug 21, 2019 12:15am Aug 21, 2019 12:15am
Quoting Hutch
{quote} Thank you for the information. I have been trading with OANDA since 2006 and did not know this trick
Its great. For one-way trading of course (all long trades, or all short trades, no hedging)
A snails pace wins the race :-)
  • #5,640
  • Aug 22, 2019 11:49am Aug 22, 2019 11:49am
OK I must sadly say that I might switch from OANDA... Those rules are becoming harder and harder to price-in.. I have to CLOSE the positions because of it...
Certainly not good broker anymore... at least for some of my strategies... Might still be good for LARGE account trading, de-leveraged... low-risk... and for SELLS mostly... I mean I will leave/trade it in parallel, just to test the new broker(s)... or park larger amounts later... (if not upgrading to broker closer to the "real" market)...

Will see in the next week... HOW much would I switch.. but they are not compatible broker for more and more of my strategies... Trading is hard as it is, without having to "ski race" between rules/regulations...

Still really love their fxtrade, flexible trade sizes etc.. I hope they might find a solution to have at least some clients switch to some branch where there are less rules...
Can you afford to take that chance?
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