Oanda reversing trades? | Forex Factory

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Oanda reversing trades?

  • #1
  • First Post: Jul 16, 2008 12:29pm Jul 16, 2008 12:29pm
I just received email from Oanda:

"Dear Damian:

Due to one or more incorrect rate spikes that occurred on our FXTrade system, the following
adjustments were completed to roll back transactions caused by the spikes:

Ticket 373140429 (EUR/USD) was deleted.
Ticket 373140103 (EUR/USD) was deleted.
Ticket 373140100 (EUR/USD) was deleted.
Ticket 373138940 (EUR/USD) was closed on Tue Jul 15 2008 03:01:35PM DT instead.

Please check your account at your earliest convenience. If you have any questions or
concerns, please do not hesitate to contact us at [email protected].

Kind Regards,
OANDA Technical Support(RC)"

I checked and all of these transactions were on profit. And wfter this roll back all of those profits are gone, and it looks like I never made this transactions. I risk, trade and what? They cancell my transactions and take away profit. Maybe someone else have similiar problem?
  • #2
  • Jul 16, 2008 12:52pm Jul 16, 2008 12:52pm
Try not to take it personally, reversing trades is becoming a regular feature on Oanda!

It's tough but I don't think there's very much you can do about it, and I agree with you it's totally unfair.

You probably already know this but I'll mention it anyway, don't revenge trade to get those gains back, you'll lose and be even more pissed than you are now!
  • #3
  • Jul 16, 2008 1:18pm Jul 16, 2008 1:18pm
if you look at it from the neutral view rather than one of the two parties you'll fine some sense there, obviosuly there are far more ppl who would have lost money in those spikes than those who made money, since those spikes came off a tchnical fault and was'nt really a real market action any losses (and yes profits too) don't deserve to be had....don't you think...
I believe . . .
  • #4
  • Jul 16, 2008 1:18pm Jul 16, 2008 1:18pm
They will refund you if it goes the other way and your stop loss is hit by a spike.
  • #5
  • Jul 16, 2008 1:30pm Jul 16, 2008 1:30pm
The real question is why these spikes are happening to begin with?
  • #6
  • Jul 16, 2008 2:02pm Jul 16, 2008 2:02pm
Quoting Razorman
The real question is why these spikes are happening to begin with?
Exactly! And they're happening with such regularity.
  • #7
  • Jul 16, 2008 2:48pm Jul 16, 2008 2:48pm
How much did you lose?
Forex rules
  • #8
  • Jul 16, 2008 3:37pm Jul 16, 2008 3:37pm
Are these spikes at news time or pure technical glitches?
  • #9
  • Jul 17, 2008 2:54am Jul 17, 2008 2:54am
Quoting lostinspace
It's tough but I don't think there's very much you can do about it, and I agree with you it's totally unfair.
Oh really? So on the one side Oanda is unfair due to spikes and on the other side they're unfair if they do a rollback due to a wrong spike? Come on...

Oanda isn't perfect, but fair. I trade for several years now there and had some spikes as well. But I always got my money back if I got stopped out due to a misspike.

Regards - Xaron
  • #10
  • Jul 17, 2008 5:09am Jul 17, 2008 5:09am
Quoting lostinspace
Try not to take it personally, reversing trades is becoming a regular feature on Oanda!

It's tough but I don't think there's very much you can do about it, and I agree with you it's totally unfair.
Would you say its unfair when they reverse a loosing trade too?
  • #11
  • Jul 17, 2008 9:22am Jul 17, 2008 9:22am
Quoting Xaron
Oh really? So on the one side Oanda is unfair due to spikes and on the other side they're unfair if they do a rollback due to a wrong spike? Come on...

Oanda isn't perfect, but fair. I trade for several years now there and had some spikes as well. But I always got my money back if I got stopped out due to a misspike.

Regards - Xaron

Quoting shrike
Would you say its unfair when they reverse a loosing trade too?

Not all trades filled on misquotes are reversed though, for example Oanda stand by the price discrepancies in the video in this thread yet those prices do not appear on any other platform simply because the market never traded there. Why would Oanda manipulate quotes like that unless it's for their own benefit? Because they're fair and honest? Come on.....

What's interesting is no-one has been able to come up with any kind of reasonable explanation for all these spikes, misquotes, and reversals (unless you call aliens with laser beams a reasonable explanation ).

Bad ticks happen very occasionally on more or less every platform, sure, but they happen far more frequently on Oanda than any other marketmaker, it's become nearly a daily occurance!

To save all these rollbacks and trade reversals wouldn't it be easier and more efficient if trades simply weren't filled at prices that don't exist or are no longer available, that's what a lot of marketmakers do.
  • #12
  • Jul 17, 2008 9:43am Jul 17, 2008 9:43am
Obviously, if you think its unfair or too often, you need another broker. I personally can live with it, in my opinion their advantages still outweigh the negatives. I have 2 accounts, one with Hotspot and one with Oanda. I still do most trades with Oanda (better overall pricing and swaps), if they start acting up too much that will change fast, but i personally am not at this point yet.
  • #13
  • Edited 10:25am Jul 17, 2008 10:13am | Edited 10:25am
Quoting shrike
Obviously, if you think its unfair or too often, you need another broker. I personally can live with it, in my opinion their advantages still outweigh the negatives. I have 2 accounts, one with Hotspot and one with Oanda. I still do most trades with Oanda (better overall pricing and swaps), if they start acting up too much that will change fast, but i personally am not at this point yet.
If it works for you then great, you may have a different trading style than me and these issues may not affect you as much. I agree Oanda does have it's obvious advantages such as tight advertised spreads and competitive rollover rates but how they perform in live trading for my trading style is obviously more important to me. The question still remains though, how and why do these pricing discrepancies happen.

I'm not here to persuade or dissuade anyone from trading with a particular marketmaker, I just post my experiences and opinions and it's up to the individual to make an informed choice about where they have an account. What suits one trader may not suit another, marketmakers can be as much a personal fit as a trading strategy in my opinion.


~
  • #14
  • Jul 17, 2008 10:15am Jul 17, 2008 10:15am
Has someone received a mail from Oanda reversing losing trades ?
  • #15
  • Jul 17, 2008 1:34pm Jul 17, 2008 1:34pm
Quoting melpheos
Has someone received a mail from Oanda reversing losing trades ?
Yes me.

Regards - Xaron
  • #16
  • Jul 17, 2008 4:40pm Jul 17, 2008 4:40pm
Quoting lostinspace
If it works for you then great, you may have a different trading style than me and these issues may not affect you as much. I agree Oanda does have it's obvious advantages such as tight advertised spreads and competitive rollover rates but how they perform in live trading for my trading style is obviously more important to me. The question still remains though, how and why do these pricing discrepancies happen.

I'm not here to persuade or dissuade anyone from trading with a particular marketmaker, I just post my experiences and opinions and it's up to the individual to make an informed choice about where they have an account. What suits one trader may not suit another, marketmakers can be as much a personal fit as a trading strategy in my opinion.


~
... Funny that's you say that now, since you're so vehemently accusing Oanda of so many bad things. Would you call it fair to tell people how bad Oanda is when in the end you admit that it might just not fit your trading style?

Or would you call it unfair if from now on, everytime someone complain about Oanda and you feel the urge to chime in, just advice him/her that maybe Oanda isn't fit with his/her trading style instead of telling a whole lot of garbage?
  • #17
  • Edited Jul 18, 2008 2:54am Jul 17, 2008 6:38pm | Edited Jul 18, 2008 2:54am
Quoting Zen
... Funny that's you say that now, since you're so vehemently accusing Oanda of so many bad things. Would you call it fair to tell people how bad Oanda is when in the end you admit that it might just not fit your trading style?

Or would you call it unfair if from now on, everytime someone complain about Oanda and you feel the urge to chime in, just advice him/her that maybe Oanda isn't fit with his/her trading style instead of telling a whole lot of garbage?
I'm not quite sure what you're laughing hysterically about, after all you're the one who trades there! (although a perverse sense of humor probably does help if you trade with Oanda!)

This really shouldn't need to be explained as it's pretty basic stuff which even the most challenged novice inexperienced trader should be able to work out, but anyway....

Of course trading style is going to make a difference. Someone trading off a daily or 4hr chart is not going to suffer these misquotes, bad ticks, and trade reversals as much as a short-term trader trading off a 15m chart, I would have thought that was obvious but apparently not to everyone!

Regardless of trading style these trade rollbacks are getting to be a regular occurrence at Oanda, traders are having to hold their breath waiting to see if a trade they made today will still be honored by Oanda tomorrow!

Maybe you would like to explain why all these bad ticks and misquotes are happening so often, and how Oanda can quote 50 pips away from market or any other marketmaker and yet still stand by those quotes.




~
  • #18
  • Jul 18, 2008 4:54am Jul 18, 2008 4:54am
Quoting lostinspace
Of course trading style is going to make a difference. Someone trading off a daily or 4hr chart is not going to suffer these misquotes, bad ticks, and trade reversals as much as a short-term trader trading off a 15m chart, I would have thought that was obvious but apparently not to everyone!
Amen, Brother....
  • #19
  • Jul 18, 2008 5:57am Jul 18, 2008 5:57am
Quoting Zen
Amen, Brother....
Brother? Thankfully not, I'd have to spike your OJ with Prozac if we were related to stop all that manic laughter!

Apart from that our familly gene pool has an above average IQ, I really don't think we could be related unless we had adopted you from the orphanage



(Oh my God, I've been infected with the crazed-laughter bug!!)
  • #20
  • Last Post: Jul 18, 2008 3:15pm Jul 18, 2008 3:15pm
Quoting lostinspace
Brother? Thankfully not, I'd have to spike your OJ with Prozac if we were related to stop all that manic laughter!

Apart from that our familly gene pool has an above average IQ, I really don't think we could be related unless we had adopted you from the orphanage



(Oh my God, I've been infected with the crazed-laughter bug!!)
And you don't know the different between brother and Brother...

(Oh my God, you really are lost in space!!)
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