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  • #3,701
  • Nov 16, 2007 2:19pm Nov 16, 2007 2:19pm
Quoting linuxtroll
Only 6 colors in the modern Rainbow? LoL :
thats because he has the spine in his hand
  • #3,702
  • Nov 16, 2007 2:25pm Nov 16, 2007 2:25pm
Quoting FiboFan
With Oanda you will get a much better quote accuracy and timing if you watch the order form and not the graph. The graph is always a split second late mostly due to the nature of Flash.
Whenever I'm getting ready to enter or exit the market I always go by the price on the market order and pull the trigger on that. If I respond as soon as I see the number instead of when the chart reflects it I get a much better response time.

Does that make sense?
I haven't compared it to other platforms though reguarding speed of price action.
You will not believe it!...But I entered a trade just now...very slow market...but thought to catch 1 pip for fun; Closed 1 pip watching quote on my order window, and guess what...still slipped! I closed on 162.36 (saw the price in the window) window auto-closed, saw price coming-up 3 pips on the cart and it closed at 162.39

Just now deposited more at Oanda; On the next deposit (hopefully not) I will trade using MBT.
  • #3,703
  • Nov 16, 2007 2:27pm Nov 16, 2007 2:27pm
Quoting Iqtrading
i don't understand the FIX thing, as i asked my broker, he said its not available for retailers...

For what is it? i have seen that are directly connected Buyersides and Sellersides... but how can i visualize something in my head that i understand how it works and what it really do...
I'm not sure exactly what it is, but IB offers it, so here's their explanation of what it does.
  • #3,704
  • Nov 16, 2007 2:28pm Nov 16, 2007 2:28pm
Quoting bluebuddha
I'm not sure exactly what it is, but IB offers it, so here's their explanation of what it does.
thank you

okay i read it, so if i understand right the usage for us lays in the speed of transmission from orders...
  • #3,705
  • Edited 3:19pm Nov 16, 2007 3:05pm | Edited 3:19pm
Quoting FlashCall
You will not believe it!...But I entered a trade just now...very slow market...but thought to catch 1 pip for fun; Closed 1 pip watching quote on my order window, and guess what...still slipped! I closed on 162.36 (saw the price in the window) window auto-closed, saw price coming-up 3 pips on the cart and it closed at 162.39

Just now deposited more at Oanda; On the next deposit (hopefully not) I will trade using MBT.
FlashCall, you will not believe what I now believe...

2 weeks ago, My OANDA platform behaved the way it should. That being your getting filled at EXACTLY the price that shows up on the Market Order quote window.

This past week, almost NONE of my market orders were filled at the price quoted on the Market Quote window. I tested for the following parameters, all with the same result.

- 1 unit order
- 10 unit order
- 100 unit order
- 10,000 unit order
- 100,000 unit order
- 600,000 unit order

Regardless of how large or small my order, the quoted price shown was NOT filled. It would "slip" anywhere from .5 to even 5 pips in the worst case.

How did this happen??? Here's my take on it.
I now believe that OANDA's market making algorithm is applied to certain accounts, at Oanda's discretion. I'm sure that OANDA gets the interbank prices, then runs it through their algorithm to produce an artificial price on which clients trade.

I believe that my trading account with OANDA used to be given the quote shown on the market order window. At some point last week, my account may have been flagged so that the algorithm is no longer applied. I believe I am getting filled at the Interbank prices even though I still see the artificial quotes. I see this as a disadvantage because I cannot rely on OANDA's platform/quotes to enter or exit. I am actually trading on a different pricing system!

What are your thoughts rainbow scalpers?
  • #3,706
  • Nov 16, 2007 3:18pm Nov 16, 2007 3:18pm
Shutopia, I've been having the same issue with Oanda. It started last week also.

Are you making money? My thought is that they do this once you have started to make a lot.
  • #3,707
  • Nov 16, 2007 3:58pm Nov 16, 2007 3:58pm
Quoting Iqtrading
i don't understand the FIX thing, as i asked my broker, he said its not available for retailers...

For what is it? i have seen that are directly connected Buyersides and Sellersides... but how can i visualize something in my head that i understand how it works and what it really do...
http://en.wikipedia.org/wiki/FIX_protocol

http://fixprotocol.org/
  • #3,708
  • Nov 16, 2007 4:07pm Nov 16, 2007 4:07pm
Quoting FlashCall
http://en.wikipedia.org/wiki/FIX_protocol

http://fixprotocol.org/
thx i read it...
  • #3,709
  • Nov 16, 2007 4:10pm Nov 16, 2007 4:10pm
Quoting shutopia

What are your thoughts rainbow scalpers?
U deal with market maker... if they see u get a lot profitable they will stop u, building up traps for that make the things harder to get...

just my thoughts...
  • #3,710
  • Nov 16, 2007 4:14pm Nov 16, 2007 4:14pm
http://img215.imageshack.us/img215/6276/rainbow6yl.jpg
  • #3,711
  • Nov 16, 2007 4:45pm Nov 16, 2007 4:45pm
Quoting Iqtrading
U deal with market maker... if they see u get a lot profitable they will stop u, building up traps for that make the things harder to get...

just my thoughts...
I can understand that a broker does not like scalpers but why would they "build up traps" to profitable traders in general? Do you think they want "a lot profitable" traders to transfer their accounts to competitor brokers? I know a guy who takes 50 lots trades with retail broker and he is not complaining.

It would be beneficial to read what are the experiences of other multilot traders, especially with Oanda. Do you experience something that seems like flagging your account as Shutopia described?
  • #3,712
  • Nov 16, 2007 4:53pm Nov 16, 2007 4:53pm
Quoting Iqtrading
i don't understand the FIX thing, as i asked my broker, he said its not available for retailers...

For what is it? i have seen that are directly connected Buyersides and Sellersides... but how can i visualize something in my head that i understand how it works and what it really do...
FIX is a protocol... How come it is not available for others? LoL
You can talk with EFX API using FIX...
  • #3,713
  • Nov 16, 2007 4:57pm Nov 16, 2007 4:57pm
Quoting atomz
Do you think they want "a lot profitable" traders to transfer their accounts to competitor brokers?
That's exactly what they want. There are debates about whether Oanda has a problem with profitable traders. With the way they have been acting lately, I doubt that they want anyone to make money LOL.
  • #3,714
  • Nov 16, 2007 5:15pm Nov 16, 2007 5:15pm
Quoting Iqtrading
U deal with market maker... if they see u get a lot profitable they will stop u, building up traps for that make the things harder to get...

just my thoughts...
Maybe they scared of Rainbow scalper :...
Maybe is just (big) latency ...

I was making good money last couple of days and I had my losses, but was on a (very) good roll. I had losses yesterday; My fault. But I have also noticed that some of my losses are possible not my direct fault (my orders where just filled to late - So out of frustrating I losed more -over- analyzing my entries and stops). But I'm sure that most of the trades today where slipped from 1 to 3 pips (some with profit and some not) and had good exits.

I will give it a go next week; If it not changes I will e-mail them. If I do so, I'll post there anwser.

I hope Trollman can provide use good charts; I pay him (couple of pips) kindly, rather then Oanda -possible- takes it from me.
  • #3,715
  • Edited 5:33pm Nov 16, 2007 5:22pm | Edited 5:33pm
Quoting atomz
I can understand that a broker does not like scalpers but why would they "build up traps" to profitable traders in general? Do you think they want "a lot profitable" traders to transfer their accounts to competitor brokers? I know a guy who takes 50 lots trades with retail broker and he is not complaining.

It would be beneficial to read what are the experiences of other multilot traders, especially with Oanda. Do you experience something that seems like flagging your account as Shutopia described?

No i have no experience with this described by shutopia, but i think if i was the market maker, i screen all accounts on activity lotsize(Riskmanagement i try the Rainbow with total entry of 63% of account in demo) tradingtime duration of trade... if i would see somebody who wants to profit from small moves with a higher lotsize i would try to trapping him, and as i think slippage is one of the most things brokers do, when u see that it happends twice you could be right with this.

What is a lot profitable trader? for market maker a lot profitable trader is somebody which can be hedged, my opion... maybe a fault, but if i see somebody who makes consistently money on higher timeframes, i would trade with him not against him... not that i want to follow but i would to hedge my money against him, scalping on 5 sec is so fast that they don't have the manpower to hedge these positions, only way to trapping is slippage...

Don't know but this is my logical way...

But i have experience with some bucketshops, that are constantly requoting me... everytime i want to enter they tell me the price is not actual at server and i have 1second to accept this new price...
  • #3,716
  • Nov 16, 2007 5:24pm Nov 16, 2007 5:24pm
Quoting linuxtroll
FIX is a protocol... How come it is not available for others? LoL
You can talk with EFX API using FIX...

okay will do that
  • #3,717
  • Nov 16, 2007 5:25pm Nov 16, 2007 5:25pm
Quoting FlashCall
Maybe they scared of Rainbow scalper :...
Maybe is just (big) latency ...

I was making good money last couple of days and I had my losses, but was on a (very) good roll. I had losses yesterday; My fault. But I have also noticed that some of my losses are possible not my direct fault (my orders where just filled to late - So out of frustrating I losed more -over- analyzing my entries and stops). But I'm sure that most of the trades today where slipped from 1 to 3 pips (some with profit and some not) and had good exits.

I will give it a go next week; If it not changes I will e-mail them. If I do so, I'll post there anwser.

I hope Trollman can provide use good charts; I pay him (couple of pips) kindly, rather then Oanda -possible- takes it from me.
Maybe big latency, one other thing what can be happends
  • #3,718
  • Nov 16, 2007 5:30pm Nov 16, 2007 5:30pm
Quoting linuxtroll
FIX is a protocol... How come it is not available for others? LoL
You can talk with EFX API using FIX...
EFX even has a "middleware" that's supposed to make it easyer to work with FIX...but I haven't done it:

http://www.efxgroup.com/openAccess.php
  • #3,719
  • Edited 6:08pm Nov 16, 2007 5:54pm | Edited 6:08pm
Quoting Poocher
EFX even has a "middleware" that's supposed to make it easyer to work with FIX...but I haven't done it:

http://www.efxgroup.com/openAccess.php
Yes, the FIX engine is from Onix Solutions (http://www.onixs.biz/).

Also, they have FIX direct connection engines (http://www.onixs.biz/test2/FIXEngines/directConnect/) that connects directly to ECN's like CurrenEx, Hotspot and ofcourse EFX
  • #3,720
  • Nov 16, 2007 9:58pm Nov 16, 2007 9:58pm
Quoting atomz
I can understand that a broker does not like scalpers but why would they "build up traps" to profitable traders in general? Do you think they want "a lot profitable" traders to transfer their accounts to competitor brokers? I know a guy who takes 50 lots trades with retail broker and he is not complaining.

It would be beneficial to read what are the experiences of other multilot traders, especially with Oanda. Do you experience something that seems like flagging your account as Shutopia described?
i was experienced this issue too.when ever i entry,the price will be filled 2 pips above quote price and fell back 2 pips after second.then i was in minus 4 pips!!

this even happened when you want to take profit.normally price will close less 1-2pips
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