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OANDA Discussion

Quoting pipmaster77
{quote} So I will lay out exactly how I mitigate risk. I refuse to use a CFTC broker simply due to the fact the regulations due nothing to protect the trader. As a US client, they offer no protection of funds and the 3 main brokers we can choose from all operate a market maker model, which is a conflict of interest with them holding the other side of the trade. Before everyone jumps in with there is ALWAYS someone on the other side....of cousre there is, I just prefer it not be THE BROKER itself. It's like betting on sports and the bookmaker can...
Being in US and as a US resident, I thought you cannot trade with any offshore brokers and stuck with the 3 or 4 brokers in US. Is that not the case?
i have weird current experience with oanda:
in attached image there is demo trade, opened last friday, 2020-04-24. over the weekend i noticed that server time was my local time +3 h, while usually it is my local time +1 h. as per today (now), server time is back to my local time + 1 h.
this is a side observation. main observation is: in MT4 terminal, my friday trade is still open, but this open trade is not on chart!?
since i plan to fund a real account in near future, this made me cautious. not sure what to do, as majority of user reviews are positive.
Attached Image (click to enlarge)
Click to Enlarge Name: 20-04-27 demo open trade not on chart.png Size: 45 KB


any comments appreciated.

have fun,

simon
s love nia
Quoting Chistabo
any comments appreciated.
//------

hey chistabo..... on the top row of the platform, click on tools..... then click on options..... in that options box, click on charts..... make sure you have the show trade levels box checked.....

just a thought......h
to trade and code, keep both simple... no call to impress....h
Quoting karun
{quote} Being in US and as a US resident, I thought you cannot trade with any offshore brokers and stuck with the 3 or 4 brokers in US. Is that not the case?
//------

hey karun..... i've called nfa many times and they have called me.....

once, i point blank asked them if a us resident was breaking any law by using a offshore broker..... just curious, there is no way i would.....

the guy quickly said their was no law i would be breaking....... but "they strongly advised against it"..... we talked for several minutes and it least 3 times he used that exact phrase......

they strongly advise only using forex brokers in their organization.....

the last time i spoke to them was 2018, so things might have changed......h
to trade and code, keep both simple... no call to impress....h
Quoting hayseed
{quote} //------ hey chistabo..... on the top row of the platform, click on tools..... then click on options..... in that options box, click on charts..... make sure you have the show trade levels box checked..... just a thought......h
hi, thanks for the reply.
i do have 'show trade levels' checked.
and i do have chart properties - colors set to visible colors.

there is by default something wrong with oanda's mt4 (in my case). i do remember having similar experience with alpari, i believe, when my trade was 'taken out' by market, but later i found that same trade to be in much profit, though (also) not visible on the chart. fishy...

of course i contacted oanda support, the answer (so to speak) was 'ooo, we are here to help, we love you, no problemo, amigo'. nothing about my question was mentioned...

not to say i received e-mail notification about 'my' demo account being transferred to another server - the issue is, the demo account they transferred was opened in 2018! almost 2 years ago. again, i notified them that i do not have/know about this demo account (as far as i am concerned, demo accounts by default expire in 1 month, unless user asks support team to remove expiry limitation, which in most cases is an option if user has live account open), and info in my reply was ignored.

i will probably save some more money, and use ecn broker, preferably in europe. not sure yet.

and i intend to set up my trading computer to be dedicated for trading, and will screen-record all activity... just in case.
many info on net says america's brokers are not to be trusted, since there is no legal guarantees for traders...

best regards,

simon
s love nia
Interesting: at Fx Trade Platform, Resources, there´s a link to "Spread Statistics".It does not work anymore, it takes you somewhere else. Looks like they are hiding it, you cannot find it easily anymore, after years of being accessible.
LIVE ACCOUNT!
Here it is:

https://www1.oanda.com/lang/de/forex...markets/recent

I just checked EURJPY, it is now a bit below 2 pips, not too bad, but if you look at the stats, it spikes to 15 pips every Friday!

Meaning any "tight stop" that you want to carry through the weekend needs a 15 pip spread added.
CORRECTION: it actually spikes every night!!!!!!!!!!! (I live in Europe, so that´s 11PM,opening of the Asian Session).
Last night: yes you guessed correctly, 15 pips!
So that is 30 pips round trip my friends if you are trading day bars, or 240 Min.
EURGBP, the same.
EURUSD: "only 10 pips"

Enjoy trading with a "friendly broker".
Quoting Hutch
{quote} 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 {image}
Hi Hutch
I mostly close my positions at the end of the US Session to avoid the night spike.
I want to start a D1 tading system.
My question: how do you manage the overnight killer spread spike? (15 pips)
Do you simply ignore it, and use the "normal" couple of pips spread?
Hate to be a sitting duck to be served to the Oanda boys for breakfast.
Thanks in advance.
Quoting cuchuflito
{quote} Hi Hutch I mostly close my positions at the end of the US Session to avoid the night spike. I want to start a D1 tading system. My question: how do you manage the overnight killer spread spike? (15 pips) Do you simply ignore it, and use the "normal" couple of pips spread? Hate to be a sitting duck to be served to the Oanda boys for breakfast. Thanks in advance.
A few days ago someone posted that Exness has a 25 pips spread on EURNZD at the beginning of the new trading session. I checked my Oanda spread and it was 16 pips so Exness spread was 56% higher than Oanda. The normal spread for EURNZD during the day is between 4 and 6 pips depending on volatility. To avoid the high spread I always open a trade between 30 and 15 minutes before the new trading session opens so I have to pay/collect the swap when the new trading session starts. It's only a matter of choice. Attached are the pictures of the Oanda spread on EURNZD at the beginning of the new trading session and also during the day (today).
Attached Images
Quoting Hutch
{quote} A few days ago someone posted that Exness has a 25 pips spread on EURNZD at the beginning of the new trading session. I checked my Oanda spread and it was 16 pips so Exness spread was 56% higher than Oanda. The normal spread for EURNZD during the day is between 4 and 6 pips depending on volatility. To avoid the high spread I always open a trade between 30 and 15 minutes before the new trading session opens so I have to pay/collect the swap when the new trading session starts. It's only a matter of choice. Attached are the pictures of the...
Thanks, I understand.
But you mentioned you keep some Day1 trades open for a couple of months, so how do you avoid getting "caught" on the new day spike.
On my trading plan, some days my stop will be 2 or 3 D1 bars away,so no problem. But then, at the end of a good campaign, I will move my stop "close to the market", according to my plan, and keep on moving it every day, bara by bar till I get stopped. With the spike, I could easily get kicked out, only to see the market rise a few more days...This could also happen in the beginning of the campaign, I want trade extremes on a D1 system.
Quoting cuchuflito
{quote} Thanks, I understand. But you mentioned you keep some Day1 trades open for a couple of months, so how do you avoid getting "caught" on the new day spike. On my trading plan, some days my stop will be 2 or 3 D1 bars away,so no problem. But then, at the end of a good campaign, I will move my stop "close to the market", according to my plan, and keep on moving it every day, bara by bar till I get stopped. With the spike, I could easily get kicked out, only to see the market rise a few more days...This could also happen in the beginning of the...
Opening a trade is easier than cooking a pie but choosing when closing the trade is quite difficult when trading D1 chart. This is because when we are already making a good profit we want to make more so we take chances. Sometimes it works and sometimes it doesn't. Here is an example trading on an EMA cross of 10/21 and closing the trade either when the two SS2009 change color or the price closes above the EMA 21 line. Although this was an excellent trade (close at green line) if I had closed the trade 3 days earlier (low for the period) I would have made an additional 80 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD-4Daily.png Size: 43 KB
Quoting Hutch
{quote} Opening a trade is easier than cooking a pie but choosing when closing the trade is quite difficult when trading D1 chart. This is because when we are already making a good profit we want to make more so we take chances. Sometimes it works and sometimes it doesn't. Here is an example trading on an EMA cross of 10/21 and closing the trade either when the two SS2009 change color or the price closes above the EMA 21 line. Although this was an excellent trade (close at green line) if I had closed the trade 3 days earlier (low for the period)...
Understand, you have your rules, my system has exit rules, but my question is how do you manage your trailing stop, say if you are trailing on a 1 bar low, in regards to the day change spike.
Quoting Hutch
{quote} Opening a trade is easier than cooking a pie but choosing when closing the trade is quite difficult when trading D1 chart. This is because when we are already making a good profit we want to make more so we take chances. Sometimes it works and sometimes it doesn't. Here is an example trading on an EMA cross of 10/21 and closing the trade either when the two SS2009 change color or the price closes above the EMA 21 line. Although this was an excellent trade (close at green line) if I had closed the trade 3 days earlier (low for the period)...
Hi Hutch, you trying out any of those recommendations I sent you. Just wanted to see how it was going.
Quoting pipmaster77
{quote} Hi Hutch, you trying out any of those recommendations I sent you. Just wanted to see how it was going.
Hi Pipmaster. I had my identity stolen a few years ago so I ditched my iPhone and I will never get a mobile phone again. The first problem I encountered is that Trader’s way and FxChoice require a mobile phone in order to register on their web sites. When I enquired further I was told that having a mobile phone number is essential to be able to register and that a fixed phone number is totally unacceptable. My reaction is "What's wrong with these two brokers?". I tried to registered with EagleFx but it seems that it only offers live accounts. On the other hand I had no problem at all with Coinexx and I'm still trying its demo. With a 500 leverage putting $1,000 into a live account provides traders with half a million in purchasing power With a leverage of 30 it would require almost 17 times more money to achieve the same purchasing power. I now see why you prefer this type of broker I did not try LQDFX yet but it has a nasty reputation at par with other brokers in the Marshall Islands and I get error 403 on many of their links. This means that their server understood the request but refuses the request due to an issue related to the client's server. This doesn't inspire confidence
Quoting Hutch
{quote} Hi Pipmaster. I had my identity stolen a few years ago so I ditched my iPhone and I will never get a mobile phone again. The first problem I encountered is that Trader’s way and FxChoice require a mobile phone in order to register on their web sites. When I enquired further I was told that having a mobile phone number is essential to be able to register and that a fixed phone number is totally unacceptable. My reaction is "What's wrong with these two brokers?". I tried to registered with EagleFx but it seems that it only offers live accounts....
Wow, never knew that about the mobile phone requirement, very odd indeed. Yes, so you can see how I set things up now, 65% of my trading capital in my bank fully insured and 35% spread among 5 brokers, because of the purchasing power of the leverage, no more than 7% of my overall at risk with any one broker. I've only recently added LQDFX as I know a few US traders with sizeable accounts, but I have a "gut" feeling about them as well. I use them until they give me a reason not to. Just as US brokers gave me a reason not to long ago lol.
Quoting cuchuflito
{quote} Thanks, I understand. But you mentioned you keep some Day1 trades open for a couple of months, so how do you avoid getting "caught" on the new day spike. On my trading plan, some days my stop will be 2 or 3 D1 bars away,so no problem. But then, at the end of a good campaign, I will move my stop "close to the market", according to my plan, and keep on moving it every day, bara by bar till I get stopped. With the spike, I could easily get kicked out, only to see the market rise a few more days...This could also happen in the beginning of the...
The question is how tight is your SL? If you want to trade D TF, you'll need bigger SL and I don't think, that new day spread spikes and spread widening should be your concern and it's depends also on pair. The biggest new day spread widening I've noticed on kiwi pairs. GBPNZD spread can co up to 50 pips !!
Whether you think you can, or you think you can't,you're right. H.F.
Quoting hayseed
{quote} //------ hey karun..... i've called nfa many times and they have called me..... once, i point blank asked them if a us resident was breaking any law by using a offshore broker..... just curious, there is no way i would..... the guy quickly said their was no law i would be breaking....... but "they strongly advised against it"..... we talked for several minutes and it least 3 times he used that exact phrase...... they strongly advise only using forex brokers in their organization..... the last time i spoke to them was 2018, so things might...
Thank you for the information. Can any one recommend a good offshore brokers with FX, Indices and Commodities?
Hi

I get invalid account in my practice oanda account. Is anyone having issues?

Thanks
Stop using OANDA!You will lose money,they stop PRACTICE accnts, kept SPIKES
I am also getting the same issue with my practice accounts. In the end i just left it as i was not sure if it was a problem with my computer or mt4 or oanda.
thanks nda.
The crap dung shit oanda service problem exists for days now. we cannot test things, data missing, accounts are invalid, I stop any trading activity and searching for another broker.
Stop using OANDA!You will lose money,they stop PRACTICE accnts, kept SPIKES
Quoting rtopa43
thanks nda. The crap dung shit oanda service problem exists for days now. we cannot test things, data missing, accounts are invalid, I stop any trading activity and searching for another broker.
Did you talk to customer support about it?
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