forex trading platform comparison 10 replies
DislikedAssuming the report's numbers are compiled impartially, truthfully and correctly:
So where did the statistics of "99% of traders fail" come from? Clearly, this report proves that this statistic is wrong as what we have suspected all along....Ignored
DislikedI believe there is something skewing the statistics based on the trader attrition rate.
Let's take 10 traders that open an acct on Jan 1.
5 are profitable from Jan 15 to Feb 17. But, by end of Feb they all blow their acct and drop off. Feb 18 broker has a 100% profitability with 5 traders. Feb 22, 10 more traders sign up and the cycle repeats. We now have 15 traders, but after the hypothetical 30 day failure TF, 10 out of the 15 are profitable -- 75%. This number would never go to 0, but would find some equilibrium point to rest at.
DislikedCome-on... do I smell collusion or am/was I 10x the hack I thought I was?
Oanda @ 50%
Everyone Else ~25%Ignored
DislikedI really think that one of the main reasons Oandians may be more profitable is due to the extremely variable position sizing. Allowing a minimum of 1 unit of currency really helps customers who have small accounts. You don't have to go out risking $1/pip to begin with. I think that's extremely important. Losing a dollar or two (at 10c/pip for example) on a trade doesn't hurt anywhere near losing $10-$20. Psychologically, I remember reacting quite emotionally to losses when I was first starting out and I lost amounts like that. After I moved to Oanda...Ignored
DislikedPity about the epic fail on Friday.
DislikedThis is exactly right...
I think it is aided by the fact that Oanda pays interest...Ignored
DislikedAhh... I think you've hit the nail on the head there. Oanda doesn't purge inactive accounts, as far as I can tell. Even if you leave just a couple of dollars in there it will be considered a "profitable" account due to interest.Ignored
DislikedSure, I have heard of people who say Oanda has disconnect problems during news hours and spreads that widen when markets aren't very liquid, but so what. If you could take a 3 pips a day, isn't that profit? Of course there are a vast variety of systems out there so what I am saying works for some, but doesn't work for many.Ignored
DislikedTry this. At any random time, go to a 5min or 15min chart. If the previous candle was red/short and the current candle is red/short, open a short position on EUR/USD when the spread is 0.9. You are almost certain to see your position go into at least a pip of profit. (vice versa for green/long).
Of course, sometimes the market will immediately reverse against you and you will be in the hole. But this is a sheer random trade example. If you have a true intraday system that even looks profitable by glancing at historical charts, you can see it...Ignored