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OANDA Discussion

  • #6,001
  • Mar 21, 2020 8:11pm Mar 21, 2020 8:11pm
oanda has no business charging “admin fee” in a setup where majority lose money. Spreads and rollover that are equivalent to futures is fair. And now with fx conversion fee they’re only going to lose accounts. I stopped trading a year back when their swap fees entered ridiculous territory. Unfortunately I don’t have the balance to trade futures
  • #6,002
  • Mar 21, 2020 8:24pm Mar 21, 2020 8:24pm
Quoting nim1984
oanda has no business charging “admin fee” in a setup where majority lose money. Spreads and rollover that are equivalent to futures is fair. And now with fx conversion fee they’re only going to lose accounts. I stopped trading a year back when their swap fees entered ridiculous territory. Unfortunately I don’t have the balance to trade futures
just checked and even IBKR charges 1% on top of benchmark rates for their cfd’s. All forex brokers should be boycotted and we should only trade stocks or futures
  • #6,003
  • Mar 21, 2020 9:03pm Mar 21, 2020 9:03pm
Quoting xy100
{quote} Ok, you clearly dont know what you are talking about. If you have volatility that is 5-10 times bigger than normal you should expect bigger spreads. Its how market works, nothing to do with broker. Just now you had GBPUSD 5 pip spread and 15min candle that has 110 pip range and usually that kind of candle volatility is only seen on GBPUSD day chart. And what do you mean you cant trade it? It is in fact the same if not better to trade right now if you scale down your position to meet % stop loss risk because you will have the same % profits...
Personally I want my cost(spread+commission+swap+any other charges) to be less than 1% in this “majority loses” speculative game. You know why? ETF’s have less than 1% costs now, and they have WAY higher probability of making money.

With a 5 tick spread, I would need 500 ticks in one day (to avoid the outrageous oanda swap fee). A 500 tick move in a day probably happens once in a blue moon. So yes as a market maker the spread is ridiculous, the spread should be no more than futures spread
  • #6,004
  • Mar 21, 2020 9:21pm Mar 21, 2020 9:21pm
oanda is a broker I think it should be ok, because it worked for a long time. I still want to trade here but I need to have 1 episode for myself a better trading system
  • #6,005
  • Mar 22, 2020 12:13am Mar 22, 2020 12:13am
Quoting nim1984
{quote} With a 5 tick spread, I would need 500 ticks in one day (to avoid the outrageous oanda swap fee).
From where did you pull out that math?
Care to elaborate?
  • #6,006
  • Mar 22, 2020 12:29am Mar 22, 2020 12:29am
Quoting ridge
The swaps on friday were simply arbitrary.Eur/usd short -1% but even worse usdchf long -0.66 % this is simply ununderstandable.
I'm using FXCM. For only 0.1 lot long of AUDNZD. I get a rollover of 5$. Could anyone recommend a low swap broker? Maybe IB or LMAX?
Winning can be extremely dangerous when you are not well prepared.
  • #6,007
  • Mar 22, 2020 12:39am Mar 22, 2020 12:39am
Quoting xy100
{quote} From where did you pull out that math? Care to elaborate?
I already mentioned I need my costs to be 1% of my profit/loss, otherwise I’m not speculating. Since I’m winning at best 40-50% of the time, I want to make sure the costs don’t eat up the major chunk of pnl
  • #6,008
  • Mar 22, 2020 12:41am Mar 22, 2020 12:41am
Quoting whtop
{quote} I'm using FXCM. For only 0.1 lot long of AUDNZD. I get a rollover of 5$. Could anyone recommend a low swap broker? Maybe IB or LMAX?
futures are your best bet. IB has 1% admin fee while LMAX has even worse swaps from what I saw
  • #6,009
  • Mar 22, 2020 7:49am Mar 22, 2020 7:49am
Quoting nim1984
{quote} I already mentioned I need my costs to be 1% of my profit/loss, otherwise I’m not speculating. Since I’m winning at best 40-50% of the time, I want to make sure the costs don’t eat up the major chunk of pnl
If you exercise proper money management a 40% win rate is enough
Attached Image (click to enlarge)
Click to Enlarge Name: 40 Win Ratio.png Size: 41 KB
  • #6,010
  • Mar 22, 2020 8:04pm Mar 22, 2020 8:04pm
Quoting Hutch
{quote} If you exercise proper money management a 40% win rate is enough {image}
You missed the point completely. In SPECULATIVE trading where the chances of getting positive expectancy over a long period is extremely low, it makes ZERO sense to pay anything more than few tenths of a percent as fees(which includes swaps, spreads and other random charges).
  • #6,011
  • Mar 23, 2020 1:35am Mar 23, 2020 1:35am
Oanda just published the swaps for today.Usdchf long is minus 0.66% again !!!!!! Switzerland has negative rates of minus 0.7 and USA positive ones .This is simply nuts.They only want scalpers !!!!
Even a clock that doesnt work is right twice a day
  • #6,012
  • Mar 23, 2020 10:08am Mar 23, 2020 10:08am
Quoting ridge
Oanda just published the swaps for today.Usdchf long is minus 0.66% again !!!!!! Switzerland has negative rates of minus 0.7 and USA positive ones .This is simply nuts.They only want scalpers !!!!
80%+ of my trades are on D1 charts. Since minus 0.66% is on a yearly basis (365 days) the daily cost is $1.81 for a full lot. You must add the 1% administrative fee of $2.74 a day to that cost. So the full swap cost for a full lot is only $4.55 a day. Nothing to go cry to mother about By the way I had a trade that remained opened for almost two months last year so the swap was only a small cost to pay to gain 240 pips
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD-4Daily.png Size: 45 KB
  • #6,013
  • Mar 23, 2020 10:13am Mar 23, 2020 10:13am
More restrictions because the French market regulator is afraid that short selling will accentuate the downtrend of the CAC 40.
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  • #6,014
  • Mar 23, 2020 10:35am Mar 23, 2020 10:35am
Quoting nim1984
{quote} You missed the point completely. In SPECULATIVE trading where the chances of getting positive expectancy over a long period is extremely low, it makes ZERO sense to pay anything more than few tenths of a percent as fees(which includes swaps, spreads and other random charges).
I agree with you that if you have a trading strategy that is less than ideal you will have less chances of getting positive results over a long period of time. Together the two of us have been on FF for almost 20 years. So I'm sure you tried many strategies and that you are using the best one that fits your trading style at this point in time. Here are 4 winning trades that were opened less than 30 minutes and that I closed an hour ago.
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  • #6,015
  • Mar 23, 2020 1:20pm Mar 23, 2020 1:20pm
Oanda mobile plataform had a freezing in the last 5 minutes of the session (19:55 gmt time) in the intrument us spx500, anyone can confirm for me? Sorry for my English.
  • #6,016
  • Mar 23, 2020 7:47pm Mar 23, 2020 7:47pm
@Hutch. A 3 trade or 30 day history is meaningless, that too on an anonymous forum. You could be only showing me the winning trades and hiding the losing ones.

No serious trader worth his salt will trade with a ‘forex’ scam broker, he will stick to futures or just trade spot directly with the banks.

Right now gold cfd on oanda has a spread of $3, while gold futures have a spread of $0.4. Now if that’s not a problem for you then you’re either a cunning broker trying to mislead everyone here or just a foolish ‘trader’.
  • #6,017
  • Mar 25, 2020 4:39am Mar 25, 2020 4:39am
Quoting nim1984
@Hutch. A 3 trade or 30 day history is meaningless, that too on an anonymous forum. You could be only showing me the winning trades and hiding the losing ones. No serious trader worth his salt will trade with a ‘forex’ scam broker, he will stick to futures or just trade spot directly with the banks. Right now gold cfd on oanda has a spread of $3, while gold futures have a spread of $0.4. Now if that’s not a problem for you then you’re either a cunning broker trying to mislead everyone here or just a foolish ‘trader’.
I have been trading forex since 2004 and trading for a living since 2010. I guess you are calling me a liar but without any proof whatsoever. Here is a gold chart with OANDA on my live account and it doesn't show a spread of $3 but almost $8. So I guess you lied stating that the spread was $3. I don't trade gold with OANDA because the spread is too high but I have two other live accounts and you can see the spreads below. Show all of us your live chart here with gold futures with a spread of $0.40 or forever lose your credibility.
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Click to Enlarge Name: XAUUSD-4H1.png Size: 45 KB
Attached Images
  • #6,018
  • Mar 25, 2020 5:27am Mar 25, 2020 5:27am
Attached are the files for my daily charts as seen in post #6,012 above. Please note that both SS indicators repaint but it's quite irrelevant when trading on a daily chart. Also, not all trades work out as we wish as demonstrated by the two blue arrows from last February so please always use a stop loss.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD-4Daily.png Size: 42 KB
Attached File(s)
File Type: zip D1 Trade.zip   133 KB | 385 downloads
  • #6,019
  • Mar 25, 2020 6:07am Mar 25, 2020 6:07am
Attached are the files for my day trading charts as seen in post #6,014 above. Many traders trade this strategy since it's very effective. The thread is the "TMT Scalping System". Please note that you can trade this strategy with Renko bricks or time based charts. Many traders prefer M5 and M15 charts. If you prefer to trade Renko the STG Renko Chart indicator is to be put on a M1 chart in order to produce the offline chart. For WTI I use bricks size of 50 pips equivalent to 5¢. The STG Renko Chart Remote indicator goes on the offline chart and this is optional. As you can see on the attached WTI chart the STG Renko Chart Remote indicator shows a value of 5 while the chart shows 50 pips candles so it can be a bit confusing sometimes
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSD M2.png Size: 44 KB
Attached File(s)
File Type: zip TMT.zip   502 KB | 461 downloads
  • #6,020
  • Mar 25, 2020 6:44am Mar 25, 2020 6:44am
Forget about Oanda. They are not worth it.

Read my thread if you are looking for a broker:
https://www.forexfactory.com/showthread.php?t=987254
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