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oanda vs. ?

Quoting Vitalikf1
No yet.
I would like to know on the forum.
you dont have to wait for us. you can just go to their website and initiate a chat session w/ them & ask. they are nice & helpful.
Quoting smjones
Hi blue,

Do you mostly place market orders or limit/stop Entries?
HI! Smjones,

Limit orders mostly, I can't be glued to the computer for too long.
Quoting bluemonkey
HI! Smjones,

Limit orders mostly, I can't be glued to the computer for too long.
Just to make it clear Oanda doesnt support real limit orders, only stop orders. On their platform it is called indeed Limit Order but the behavior is exactly like a Stop Order.

Cheers.
Trading = a mirror to your human flaws. Fix them or be fixed.
Quoting soso
Just to make it clear Oanda doesnt support real limit orders, only stop orders. On their platform it is called indeed Limit Order but the behavior is exactly like a Stop Order.

Cheers.

Hi

Just wondering...what exactly are "real" limit orders to you? Besides pre-establishing an expiration time/date; a stop loss and/or take profit, what else would a "real" limit order do that OandA does not?

Thanks,

GF
Quoting dkmb92
you dont have to wait for us. you can just go to their website and initiate a chat session w/ them & ask. they are nice & helpful.

I think you may be
right. I'll try to do it.


But
I just hope to help participants of the forum.

The festival, which is always with you.
Quoting soso
Just to make it clear Oanda doesnt support real limit orders, only stop orders. On their platform it is called indeed Limit Order but the behavior is exactly like a Stop Order.

Cheers.
Indeed. However, just like Goingforward above, I don't quite understand the difference. In fact, I don't see why in mt4 programs these orders are different either. Sounds pretty redundant to me. I suppose, if I had to guess, that this is some historical relic from pit trading or old trading programs that made things easier and faster to follow when there were slippage problems and so on ? I mean, why should the relative current position of the price - above or below, matter when I enter an order to buy/sell at some different price which may or may not be reached in the future...
On the path to Enrichment.
Guessing soso refers to 'real limit orders' to limit orders on exchanges for stocks, futures or ecns with a central limit order book, where limit-orders get filled at the limit-price or better (or not at all). You can somewhat emulate this behavior on Oanda with placing the upper bound-setting at the buy limit price (and vice versa for selling). However, its still not entirely the same. Oanda will cancel a limit order that does not get filled due to the bound-setting, wheres on an exchange the order will remain in effect. Also, on an exchange, if you enter a buy limit below the best bid, it is immediately marketable and will execute (and vice versa for sell orders), where as on Oanda the price will have to touch the limit-price first in order to trigger an execution.

Personally i like the 'traditional' way more, but really, together with the bounds-setting, you can control your executions in a very similar way.
Quoting dkmb92
does this just mean always having the latest version of jave installed?
No u just need the current version that's fine, no need to be latest,,, the one i've installeed is "jre-6u13-windows-i586-p" ... but try first if u can log in via their web site without this Java installer.... i've nvr tried cause from the beginning i'm using the FXDesktop....
Quoting shrike
Guessing soso refers to 'real limit orders' to limit orders on exchanges for stocks, futures or ecns with a central limit order book, where limit-orders get filled at the limit-price or better (or not at all). You can somewhat emulate this behavior on Oanda with placing the upper bound-setting at the buy limit price (and vice versa for selling). However, its still not entirely the same. Oanda will cancel a limit order that does not get filled due to the bound-setting, wheres on an exchange the order will remain in effect. Also, on an exchange, if...
Shrike,

What you say makes sense. Since you put it that way then I would have to agree with you. However, I don't think we have the capabilities nor the luxury of benefiting form those platforms on more sophisticated exchanges/markets. Maybe I am wrong but it looks like we have to adapt to what we have and just make lemonade when lemons are at hand.

I use both OandA and MT4 platforms and like everything in life, there are pros and cons to each. For example, I suspect that there are more than a handful of OandA traders who may not realize that you can place orders with just one click. That is one little feature that I find useful. Surely there are others that I might not know about and this is what forums are all about.

Thanks,

GF
Quoting dkmb92
regardless, i think i still feel better going w/ oanda.
Good luck , for me i am not convinced to give my money to Oanda or any US forex broker , i will stay with IG at UK i trade fx and stocks with them and i dont find any advantage at Oanda to move their . This is bussiness and i am serious with my money , if i need money nobody will give me money even 100 $ , so funds protection is important for me ... Good luck for u keep us updated ...
Why would you go with someone from UK and not someone from US? Just curious. Last time I checked Oanda was heavily capitalized but really I dont know if the funds are safer with Oanda or some UK based broker. Thanks!
Trading = a mirror to your human flaws. Fix them or be fixed.
Quoting soso
Why would you go with someone from UK and not someone from US? Just curious. Last time I checked Oanda was heavily capitalized but really I dont know if the funds are safer with Oanda or some UK based broker. Thanks!
I have protection to my funds with UK brokers registered with the FSA up to 48000 pounds , ok i know this not too much but it is not too little u can have more protection if u split your net worth into diffrent UK brokers , in this way u will have protection 48000 pounds for every account .

Anyway i am talking about US forex brokers i am not talking about US futures or stocks brokers . US forex brokers offers no protection , like what happened with Refco , i hope this will not happen with Oanda .

My broker IG make 100 million $ net profit annually and they have billions , and they r a FTSE250 company . I trade with them many things beside FX like indices , commo , shares . so i think why i split my account to go with Oanda for my forex trades , i like Oanda platform , but i should to be more carefull , money is money nobody will look at me or help me if i lost my money with Oanda if they go under or they run with my money , why the risk , hope this will not happen to Oanda , this is my opinion , good luck ...
  • Post #73
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  • Last Post: Apr 26, 2009 4:46pm Apr 26, 2009 4:46pm
oanda is expanding their operations in the future to the uk & will be fsa regulated there, so funds proctection will be available.
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