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I think Oanda FXTrade is unreliable

  • #461
  • May 19, 2010 12:22pm May 19, 2010 12:22pm
no, of course I have that disabled, it's a different window, just a pop-up window saying that it's out of bounds so the order can't be filled at that price. it doesn't happen everytime, but I can't risk it when it does.
  • #462
  • May 19, 2010 12:43pm May 19, 2010 12:43pm
Quoting Monroe
no, of course I have that disabled, it's a different window, just a pop-up window saying that it's out of bounds so the order can't be filled at that price. it doesn't happen every time, but I can't risk it when it does.
Yes, I saw it now. I'm afraid that message can't be disabled. Bounds work too when you want to close the trade by directly opening an opposite one with the same amount used for the first and then again you may have that window. But if you really need to get out of the market then I don't see the point of using bounds. If price moves when you open/close an order you'll either have a slippage (if bounds are not enabled) or won't get filled. I find it difficult to explain so that everybody understand because English it's not my native language and I don't want to exceed the limits of illiteracy, but no matter if you use bounds or not, once the price moved you can't do anything. Either you accept it, or risk to take a loss. The price didn't move because you were trying to buy euro or closing your trade. It just moved. So in the end the usefulness of bounds is limited. They are important for limit orders only. When used with market order it will just prevent you from a trade if price changed. If you're right about the direction the market is going to take, then you accept even a price worse by 1-2 pips.

There are traders that complain every time they get slippage in their detriment. That is not because Oanda has algorithms for that, but because you probably are right most of the time about the trend and if you want to sell and you're right, that means the price is going to move lower. And before having a short set-up, that means worse fills.
  • #463
  • May 19, 2010 12:52pm May 19, 2010 12:52pm
when i get slipped, its more my exits that get slipped then my entries... my entries I pinpoint and do not see much slippage at all... my exits I just take when price stalls and looks to turn around, in in some cases I get slipped positively on that. I have no complaints, a bit of slippage is something we all have to except. huge slippage all the time and delayed orders are not acceptable along with constant connectivity issues, but so far I have not seen these type of behavior.
  • #464
  • Edited 2:49pm May 19, 2010 2:28pm | Edited 2:49pm
Quoting Monroe
yea pip, 9/11... i agree with you, but what can you do...
We can choose to not comply with the system, whenever possible. Get informed, spread the word. Listen to wise people like David Icke & Gerald Celente.

We are the glue holding together the powers that be's house of cards. The power is in the base of the pyramid, not the apex. By not complying with the system & removing the base, this house of cards falls down.

-stop your relatives joining the military
-stop paying illegal taxes
-turn off your TV
-Emancipate yorselves from mental slavery. None but ourselves can free our minds.
-refuse to leave a property the bank is trying to repossess of you - the same bank who used YOUR money as a taxpayer to be bailed out.
- dont comply with the big brother state.
-stop taking swine flu vaccines
-eliminate aspartame, monosodium glautamate, sacharin etc. from your diet
-grow your own organic food
-dont be embarrassed to spread the truth. Even if you are in a minority of one, the truth is still the truth!!

have a look at TPUC
  • #465
  • Edited 10:18pm May 19, 2010 10:04pm | Edited 10:18pm
Quoting Pollux
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...
Thanks for the detailed instructions, unfortunately there's a slight delay between being able to click one-click repeatedly, the box grey's out momentarily (probably the time it takes for the order to reach their servers and for the servers to respond and then for the platform to receive the response), and then you've got to add on the time it takes to ok the order rejection....the move would probably be over before we'd even managed to get filled! If bounds were set to 0 then I can see there being real problems getting filled in an active market, and in a volatile market I think it would be an impossibility. As this type of scalping relies mainly on rapid price changes I don't think bounds would be workable. Nice idea though and thanks for the suggestion!

Like Monroe I only use one-click market orders when scalping as it takes too long to change tabs and close a trade or bring up a ticket, it's literally just buying and selling equal amounts, or if multiple buys/sells on the same pair then it closes FIFO which isn't a problem.

I also trade with another shop who price in pips (as opposed to tenths), so a pip is always worth a pip rather than 8/10ths or 6/10th's or whatever. I think this tenth's of pips pricing model is for the brøker's benefit rather than ours, I mean do we really need that level of pinpoint accuracy?
  • #466
  • May 19, 2010 10:20pm May 19, 2010 10:20pm
yup.

I like fractional, but also see the benefit of 4th decimal, such as volume. As we know, the real market is 4th decimal, but fractionals allow tighter spreads, and overall I feel it is better for scalping (not because of the spreads) but because the tenths of a pip allow me to see mini PA so my hitrate is actually better then if I were using 4th decimal for my scalps. I can also profit on tenths of a pip... when with 4th decimal it would breakeven or be a loss. So it's like my losses can still profit a bit like that. (I am not going for tenths of a pip, lol)

That is also why I think true CNX is a great platform for scalping as opposed to EBS or Reuters. I would also like to try integral...

whatever you feel comfortable with.
  • #467
  • May 19, 2010 10:27pm May 19, 2010 10:27pm
Quoting Monroe

(I am not going for tenths of a pip, lol)
lol, now that really would be extreme scalping!


Quoting Monroe
whatever you feel comfortable with.
Agreed, whatever works.
  • #468
  • May 19, 2010 10:34pm May 19, 2010 10:34pm
lol yes that would be crazy... I guess if you were crazy enough and had a good sized account, it could be profitable, lol.

getting ready for some scalps, I like a bit before frankfurt into london. After london open, I usually stop... too crazy and I feel like there is more manipulation at that time, then again at 4am-7amEST is nice for some scalps, but I am usually sleeping.

I usually do about 2x 2hour sessions a day. Most of the time I don't need that much though. I have a few hours in later NY I like the catch, thats my number 1 session.
  • #469
  • May 19, 2010 10:45pm May 19, 2010 10:45pm
Quoting Monroe
lol yes that would be crazy... I guess if you were crazy enough and had a good sized account, it could be profitable, lol.
Imagine the risk:reward, I mean there's skewed and then there's just out the wazoo!

Quoting Monroe
I like a bit before frankfurt into london.
Ha, me too, nothing like a few pips before breakfast!

Have a good one!
  • #470
  • May 19, 2010 10:51pm May 19, 2010 10:51pm
ahh for you it is breakfast, but for me here in NY, it is right before bed... so it's either a good night sleep, or tossing and turning in anger. lol

yup, have a good one pip.
  • #471
  • May 23, 2010 8:29pm May 23, 2010 8:29pm
sorry to butt in, but isn't that "downtown"

Quoting Monroe
they have a big glass tower or something like that in plan, but I am not sure about when that will happen or if things changed with it. it's a memorial ground now, its a very big area, like a little park (compared to the other parks in the city) last time i saw it, i don't go uptown that much.
"The real genius is knowing when to stop." - Marc Faber
  • #472
  • May 23, 2010 10:26pm May 23, 2010 10:26pm
oh, my bad. thanks for the correction.

it was on the lower west side I think, I don't go there much either. I have only been to the actual ground area of the twin towers once, and that is after it dropped and all cleaned up. That area was smelling quite bad for awhile. the lower east side is where I go, when I go into the city, which is where my sister lives.

when it was on fire, I saw it from the parkway going to school here on long island. i was listening to howard stern on the radio in the morning and thought it was a joke, then quickly found it was dead serious.

I know people that were working blocks away from it when it happened, and they said it was the craziest thing they ever saw. It was literally raining people down on the streets... people that were jumping. a lot of people....
  • #473
  • Jul 31, 2010 7:24pm Jul 31, 2010 7:24pm
Quoting jimbil
Why has the title of my thread been changed from my original title of

"I think Oanda FXTrade is a scam"

to

"I think Oanda FXTrade is unreliable"
because the owner of FF (the wizard guy) don't think so

Oanda is being around for more then 10 years and with many satisfied customers like me
  • #474
  • Aug 1, 2010 12:31am Aug 1, 2010 12:31am
i had an oanda account for like 1 week could not log in once in that time and told it was my fault account was closed before it was even funded so i think there unsatisfactory to now with gft to

regards damien
i pull the trigger when others are fearful---me
  • #475
  • Aug 1, 2010 8:33am Aug 1, 2010 8:33am
Quoting damosdmf
i had an oanda account for like 1 week could not log in once in that time and told it was my fault account was closed before it was even funded so i think there unsatisfactory to now with gft to

regards damien
Hahaha Yeah right, you could not log in so they closed your account. Who do you wanna kid here? That's the biggest nonsense story of a competitor I've ever heard.
  • #476
  • Aug 1, 2010 3:09pm Aug 1, 2010 3:09pm
Quoting A_3
Hahaha Yeah right, you could not log in so they closed your account. Who do you wanna kid here? That's the biggest nonsense story of a competitor I've ever heard.
i closed my account idiot not them why would i want an account open when i cant use it

regards damien
i pull the trigger when others are fearful---me
  • #477
  • Aug 1, 2010 3:41pm Aug 1, 2010 3:41pm
Quoting pescador
Regarding pairs, GBP/JPY and GBP/USD are cheaper with IB, EUR/JPY is about the same, EUR/USD, NZD/JPY and some others are better at Oanda.
Short time moves are often bigger with IB, so they provide more possibilities to scalp profitably.

Can you put some numbers on those ?
  • #478
  • Aug 1, 2010 3:44pm Aug 1, 2010 3:44pm
MOST of the time, during normal hours, Oanda has .9 on EU. Those that say otherwise are trading either prime time news or Sunday at 5pm EST.
  • #479
  • Aug 1, 2010 4:41pm Aug 1, 2010 4:41pm
Quoting shrike
You guys really made me do an excel sheet about that. Data is from my custom frontend which logs all fills (including slippage info) to a db. Slippage is calculated as the difference between the displayed price on the screen and the fill price in the case of mkt orders. In the case of stops, targets and limits it compares its respective order price to the fill-price.

All trades were during euro/american session, size varies between 500K and 1M and 90% are trades in Eur/Usd. There are only 110 trades or so since i changed the db table layout recently...

Any plans to run a similar test in the future ?
  • #480
  • Edited 9:25pm Aug 1, 2010 5:13pm | Edited 9:25pm
Quoting jimbil
I have come to my own conclusion that Oanda fxtrade is a scam.

1. They do not offer charts of a satisfactory standard, which makes it doubly hard to prove where their price was in any given moment.

2. They sell the 0.9 pips spread as some sort of mega deal but the reality is -

3. I have found i am experiencing non-beneficial slippage a hell of a lot when it comes to market orders. Slippage should work both ways - 50/50 for & against. But i only ever seem to experience loss making slippage with Oanda - coming out of a trade with less profit/more...
I think you're smoking crack or you're representing another broker. Most of your 200 post are negative toward Oanda. It's either because you lost money, represent another broker, or have an axe to grind with Oanda.

I probably withdraw more on a monthly basis from Oanda than you ever deposited.
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