I think Oanda FXTrade is unreliable | Page 23 | Forex Factory

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I think Oanda FXTrade is unreliable

  • #441
  • Edited 1:55pm May 19, 2010 12:29pm | Edited 1:55pm
I offered a solution to slippage but nobody cared to evaluate it and, instead, continued to insult each other. How can you have any slippage if you set lower and upper bounds to 0, set default trading size and trade using one click orders? If the answer to this question is: you can't have a slippage in these conditions than which is the point of further arguing?
  • #442
  • May 19, 2010 12:34pm May 19, 2010 12:34pm
Quoting Pollux
I offered a solution to slippage but nobody cared to evaluate it, but instead continued to insult each other. How can you have any slippage if you set lower and upper bounds to 0, set default trading size and trade using one click orders? If the answer to this question is: you can't have a slippage in these conditions than which is the point of further arguing?
No that's a good point, I saw it earlier and meant to reply.

I think you answered your own question in the other post, you would most likely have problems getting filled wouldn't you?

I've never used bounds, can they be set for tenths of a pip or just whole pips? If just whole pips then it wouldn't really solve the problem, besides which slippage isn't actually the whole issue.
  • #443
  • May 19, 2010 12:38pm May 19, 2010 12:38pm
Quoting pipmutt
Where am I trying to deposit this money? Sorry I don't get what it is you're trying to say.
To Jimbil's scam service probalby because you've already mentioned that you don't trade.

@Pollux, that's common knowledge. But it's hidden to babbling noobs owning islands they don't have.
  • #444
  • May 19, 2010 12:40pm May 19, 2010 12:40pm
Quoting pipmutt

I've never used bounds, can they be set for tenths of a pip or just whole pips? If just whole pips then it wouldn't really solve the problem, besides which slippage isn't actually the whole issue.
Says the one who did 6000 trades there. lmao
To anwer your noob question, yes, tenths of a pip.
  • #445
  • May 19, 2010 12:42pm May 19, 2010 12:42pm
Quoting pipmutt
No that's a good point, I saw it earlier and meant to reply.

I think you answered your own question in the other post, you would most likely have problems getting filled wouldn't you?

I've never used bounds, can they be set for tenths of a pip or just whole pips? If just whole pips then it wouldn't really solve the problem, besides which slippage isn't actually the whole issue.
You'll have serious troubles in getting filled if you follow the traditional way (open order window, set amount, click , accept). Instead if you directly sell/buy from quotes list without having to confirm, it would be faster.
The minimum is 0,1 pips.
  • #446
  • May 19, 2010 12:42pm May 19, 2010 12:42pm
Quoting A_3
Says the one who did 6000 trades there. lmao
To anwer your noob question, yes, tenths of a pip.
Like I said I've never used them, but at least I knew they were there, heck you didn't even know there was an option to remove the charts!
  • #447
  • May 19, 2010 12:43pm May 19, 2010 12:43pm
But normally you don't need bounds because spyke or what his name was has already provided an excel sheet about slippage.
  • #448
  • May 19, 2010 12:44pm May 19, 2010 12:44pm
Quoting Pollux
You'll have serious troubles in getting filled if you follow the traditional way (open order window, set amount, click , accept). Instead if you directly sell/buy from quotes list without having to confirm, it would be faster.
The minimum is 0,1 pips.
Right, so you'd have to keep on submitting orders until one got filled? Even using one-click that's not going to be ideal, and I'm not sure but isn't there a time limit between clicking?

I've got to go but I'll check back later, I'd be interested to know how it works......
  • #449
  • May 19, 2010 12:45pm May 19, 2010 12:45pm
I knew you can remove charts but I said it was useless in 2008 (after the major update problems occurred which have been fixed for months)
  • #450
  • May 19, 2010 12:47pm May 19, 2010 12:47pm
Quoting pipmutt
Like I said I've never used them, but at least I knew they were there, heck you didn't even know there was an option to remove the charts!
Why don't you login to the platform yourself then and look for yourself.
  • #451
  • May 19, 2010 12:51pm May 19, 2010 12:51pm
Quoting pipmutt
Right, so you'd have to keep on submitting orders until one got filled?
If you set both lower and upper bounds to 0 pips and try to send a market order with confirmation, you won't be able to enter the market during normal london/US session(S) because it takes time to specify the amount of units you would like to purchase, it takes time to go with mouse over Submit button and since Oanda's having one of the fastest price feed, the bounds would be exceeded. If you usually trade with x lots, then you could just disable the confirmation for orders from preferences and get filled most of the times.
  • #452
  • May 19, 2010 12:53pm May 19, 2010 12:53pm
Quoting A_3
I knew you can remove charts...
Oh, really?


Quoting A_3
pipmuff, when you login to oanda you have to look at the chart automatically because the chart is implemented into their platform. So when you try to trade there your eyes also automatically stare at their charts even if it is for a slight of a second. Looking at their charts means you are using their charts.
  • #453
  • May 19, 2010 12:56pm May 19, 2010 12:56pm
Quoting pipmutt
Oh, really?
default setting is with charts, no?
  • #454
  • May 19, 2010 12:56pm May 19, 2010 12:56pm
Quoting Pollux
If you set both lower and upper bounds to 0 pips and try to send a market order with confirmation, you won't be able to enter the market during normal london/US session(S) because it takes time to specify the amount of units you would like to purchase, it takes time to go with mouse over Submit button and since Oanda's having one of the fastest price feed, the bounds would be exceeded. If you usually trade with x lots, then you could just disable the confirmation for orders from preferences and get filled most of the times.
Sure, but even with default size and default bounds set up can you repeatedly click using one-click, isn't there a mandatory few seconds time limit between clicks?

I've never tried it, I'll have to have a go tomorrow with one unit or something!

I'm gone this time..........
  • #455
  • May 19, 2010 1:00pm May 19, 2010 1:00pm
6000 trades.

lmao
  • #456
  • May 19, 2010 1:48pm May 19, 2010 1:48pm
Pipmutt, when using one click orders you have to do the following things ->Under user preferences ->Trading -> Make sure the market is set to Default. Now change the settings accordingly to your preferences (enter your default order size, default bounds - you may set them to 0 if you want). Check "Enable bounds by default" and un-check "Confirm one-click trades". Now return to Market field and check each currency that you would like those setting to be applied to and every time check "Use custom settings". Save. You can only initiate one-click trades from "Quote Panel" and only if the finger above it (near F, to the left) is checked (that enables the units field under each currency).
I tell you that because it took me a lot of time making it work properly. If you miss one of these steps and if you initiate the orders from "Quote list" instead of Panel it just shows you the classic window to set up the order, which takes time. I played with them on FxGame a lot and I can't say I didn't have rejections(very few), but that happened if I clicked on the button right before the price changes. In which case, without bounds enabled you would have been slipped.
  • #457
  • May 19, 2010 1:57pm May 19, 2010 1:57pm
if you are scalping, setting very strict bounds is a bad idea.

pipmutt said he was using market orders, so I'm pretty sure he was using one-click orders when scalping... at least, I hope so.
  • #458
  • May 19, 2010 2:00pm May 19, 2010 2:00pm
Quoting Monroe
if you are scalping, setting very strict bounds is a bad idea.

pipmutt said he was using market orders, so I'm pretty sure he was using one-click orders when scalping... at least, I hope so.
Why it's a bad idea? I don't scalp , just am curious.
  • #459
  • May 19, 2010 2:09pm May 19, 2010 2:09pm
well, when you can't get filled because of very strict bounds settings (like 0-.3), a message pops up saying it could not fill you at that price. Then you have to click ok and try to do it again. When scalping fast timeframes.. this is a no-no, and, it could very well mean a loss.

So it's too risky for me. Most of my scalps are usually done within seconds after price moves my direction (in most cases since I keep my exits very tight), so 2-3 seconds extra from a message popping up when I'm trying to exit could screw that all up for me.

Wouldn't be so bad on the entry, but on the exit... you don't want that. I wonder if there is a way to not have that message pop up? doubt it.
  • #460
  • May 19, 2010 2:12pm May 19, 2010 2:12pm
Quoting Monroe
well, when you can't get filled because of very strict bounds settings (like 0-.3), a message pops up saying it could not fill you at that price. Then you have to click ok and try to do it again. When scalping fast timeframes.. this is a no-no, and, it could very well mean a loss.

So it's too risky for me. Most of my scalps are usually done within seconds after price moves my direction (in most cases since I keep my exits very tight), so 2-3 seconds extra from a message popping up when I'm trying to exit could screw that all up for me.

Wouldn't...
Just disable "Show confirmation window". Bounds are not available for closing orders so you won't be rejected. The worst case is a fast movement right when you're closing your trade and get slipped. Un-checking that option deactivate confirmation window for both initiating and closing a trade.
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