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OANDA Discussion

  • #1,161
  • Nov 2, 2010 5:30am Nov 2, 2010 5:30am
Quoting Adilius07
Oanda does not support Weekly and Monthly chart? Sure seems so on their demo, lol...what a disappoinment
I prefer their instant execution before their charting. I use MT4 for charting and Oanda for trading.
  • #1,162
  • Nov 2, 2010 5:33am Nov 2, 2010 5:33am
Quoting Xaron
I prefer their instant execution before their charting. I use MT4 for charting and Oanda for trading.
Hello Xaron, thank you very much for your reply. I followed a lot of your post btw So your opnion means much. However, I don't understand if someone has such a handicapped charting is he able to provide reliable execution... hm
If you say so then it is so.

So I have to open another account then with MT4 broker... kind of redicolous ((
  • #1,163
  • Nov 2, 2010 5:43am Nov 2, 2010 5:43am
Quoting Adilius07
Hello Xaron, thank you very much for your reply. I followed a lot of your post btw So your opnion means much. However, I don't understand if someone has such a handicapped charting is he able to provide reliable execution... hm
If you say so then it is so.

So I have to open another account then with MT4 broker... kind of redicolous ((
I just use a demo account (e.g. Alpari UK) for charting.

It seems to be IN to bash Oanda lately. Actually I have never found a better market maker. It's even comparable with good ECN brokers IMHO.

There isn't anything better for small accounts (<$10k) out there nor for scalping neither for position trading (very good and fair rollover costs!).

If there was a wrong spike in the past I always got my money back. Period. Of course there are problems but you will have problems with any broker out there if you have a real account with them.

Oanda goes off during news from time to time which isn't an issue for me. Either you use stops and/or low leverage and you won't have problems. You can use limit orders for entries as well (actually these "limit" orders are "market if touch" order with small slippage but that's ok for me). Even if the server connection goes down, all TPs and Stops and Limit orders were filled correctly. If not: You get your money back (and I had these not filled stops, tps and limits in the past from time to time).

To be honest: They are very fair, tight spreads, low slippage, instant execution (I've tested everything up to 1M units), no stop hunting (stop crying lamers ). I had several stops (no matter which size - up to 1M) which were missed by only 1-2 pipettes (0.1 pips) as well as TPs which were missed by the same amount.

I have never every seen any reasonable recommendation for an alternative to Oanda. As long as you know the deal with the possible flaws (here rare disconnects mainly due to news time, spread widening and limited slippage) Oanda is a very good choice.

If you can't make positive return with Oanda you won't be able to do it with other brokers/market makers as well.
  • #1,164
  • Nov 2, 2010 5:52am Nov 2, 2010 5:52am
Quoting Xaron
I just use a demo account (e.g. Alpari UK) for charting.

It seems to be IN to bash Oanda lately. Actually I have never found a better market maker. It's even comparable with good ECN brokers IMHO.

There isn't anything better for small accounts (<$10k) out there nor for scalping neither for position trading (very good and fair rollover costs!).

If there was a wrong spike in the past I always got my money back. Period. Of course there are problems but you will have problems with any broker out there if you have a real account with them.

Oanda...
Thanks Xaron for your post. Yes I heard a lot of positive comments, about them, that is why I registered for a demo. And my account is small yes <10K.

But it was a little shock to see no 4HR no Weekly no Monthly...

Ok, I will make up my mind. I have my Fxpro unlimited demo, but I see prices vary really... So alpari demo will do it? Do you have to renew your demo with Alpari? How often?

Thanks Xaron
  • #1,165
  • Nov 2, 2010 6:27am Nov 2, 2010 6:27am
As long as you login into your Alpari Demo account I think it won't expire. As far as I know it expires after 90 days of not using it. But this might have change.
  • #1,166
  • Nov 2, 2010 6:28am Nov 2, 2010 6:28am
Quoting Xaron
As long as you login into your Alpari Demo account I think it won't expire. As far as I know it expires after 90 days of not using it. But this might have change.
Got it, thanks!
  • #1,167
  • Nov 2, 2010 6:52am Nov 2, 2010 6:52am
Yeah.. still the reality of Oanda is kinda disappointing.. they want you to trade 5 sec chart but not a Weekly chart... why? Because the odds are much higher you gonna loose everything with 5 sec chart than with a Weekly chart.. and of course much faster

Otherwise why? Any suggestions? Because they are poor and can't get a good programmer to add those frames? I don't think so...

Ehh.. why so my fakes in this business... ehh
  • #1,168
  • Nov 2, 2010 6:59am Nov 2, 2010 6:59am
Quoting Adilius07
Yeah.. still the reality of Oanda is kinda disappointing.. they want you to trade 5 sec chart but not a Weekly chart... why? Because the odds are much higher you gonna loose everything with 5 sec chart than with a Weekly chart.. and of course much faster

Otherwise why? Any suggestions? Because they are poor and can't get a good programmer to add those frames? I don't think so...

Ehh.. why so my fakes in this business... ehh
My biggest problem with MT4 is the lack of higher timeframes like 6 hr,8hr and 12 hr. For me, and i i know some people can back me up,the longer the time frames, the lesser the trades,the better the chances of making pips. I cant wait for MT5 to go live.
  • #1,169
  • Nov 2, 2010 7:02am Nov 2, 2010 7:02am
Quoting mwafrika
My biggest problem with MT4 is the lack of higher timeframes like 6 hr,8hr and 12 hr. For me, and i i know some people can back me up,the longer the time frames, the lesser the trades,the better the chances of making pips. I cant wait for MT5 to go live.
I agree, the higher TF the higher odds for us... you can use Periodicon indicator to get you 6,8,12 or whatever TF with MT4.

There was a discussion how to use on some other thread, try to search for it.
Hope this helps
  • #1,170
  • Nov 2, 2010 7:11am Nov 2, 2010 7:11am
Quoting Adilius07
I agree, the higher TF the higher odds for us... you can use Periodicon indicator to get you 6,8,12 or whatever TF with MT4.

There was a discussion how to use on some other thread, try to search for it.
Hope this helps
I think i saw that somewhere but it dint work for me. What i would like to know is if MT5 is ever going to go live.I use the demo on a few brokers and i am loving it. Any idea on that?
  • #1,171
  • Nov 2, 2010 7:20am Nov 2, 2010 7:20am
Agreed guys. Higher time frames have the advantage of giving the trader better odds, many pros tend to use them.

I don't want to advertise, but truth be told, Oanda is so far THE best market maker out their, you won't find a better deal. But as I already said, they still lack in the charting area.

You guys should send them emails about higher TF's if you're long term traders. I remember once answering some survey they did and there was a space where they asked for suggestions for their website, so I suggested that they put big live quotes of the major pairs with their current spreads on their FX web page.

After like 1 week, I noticed they did it. lol
  • #1,172
  • Nov 2, 2010 7:38am Nov 2, 2010 7:38am
Quoting Marv
Agreed guys. Higher time frames have the advantage of giving the trader better odds, many pros tend to use them.

I don't want to advertise, but truth be told, Oanda is so far THE best market maker out their, you won't find a better deal. But as I already said, they still lack in the charting area.

You guys should send them emails about higher TF's if you're long term traders. I remember once answering some survey they did and there was a space where they asked for suggestions for their website, so I suggested that they put big live quotes of the...
Those TF's are a one day work for them really.
They leave it out on purpose I don't think I'm the first one on Earth to notice this, lol...
  • #1,173
  • Nov 2, 2010 8:18am Nov 2, 2010 8:18am
Quoting Xaron
I just use a demo account (e.g. Alpari UK) for charting.

It seems to be IN to bash Oanda lately. Actually I have never found a better market maker. It's even comparable with good ECN brokers IMHO.
Thanks for your comments. I'm not bashing Oanda just want to make sure something before doing business with them. Btw, I heard there are quite a few 7 figures even 8 figures accounts using Oanda, is that true?

Thanks
  • #1,174
  • Nov 2, 2010 8:28am Nov 2, 2010 8:28am
Quoting Zkf
Thanks for your comments. I'm not bashing Oanda just want to make sure something before doing business with them. Btw, I heard there are quite a few 7 figures even 8 figures accounts using Oanda, is that true?

Thanks
I'm one of them... Hehe, just kidding.

Personally I only know some who have 6 figures accounts with Oanda but yes, probably there are some with more and actually I would do the same (so use Oanda) even with a 6-8 figures account - call me mad.
  • #1,175
  • Nov 2, 2010 8:29am Nov 2, 2010 8:29am
You guys are making a mountain out of a molehill concering the charts of Oanda.

Why in the world do you think you can't trade longer time frames with Oanda simply because their charts don't support those frames? You are all suffering from a serious thinking problem. Stop and really think about it instead of bitching about it.

And as much as Xaron does sound like a shill for Oanda, I have to agree with him. I've had a few issues with them over the last 6 years, but they're as good as anyone else and better than most. Most importantly, I trust them. I never lose sleep wondering if they're actively trying to screw me or my clients.
  • #1,176
  • Nov 2, 2010 5:19pm Nov 2, 2010 5:19pm
I read through pages 1-35 of this thread. Really scary I should say. Anyone still using them? What could be an alternative, please?
  • #1,177
  • Nov 2, 2010 5:22pm Nov 2, 2010 5:22pm
Quoting Adilius07
I read through pages 1-35 of this thread. Really scary I should say. Anyone still using them? What could be an alternative, please?

Really? I still love Oanda as a broker, I'm just starting to get a little PO'd at GUI problems that never used to happen.

I really don't want to switch to another broker, too many horror stories...
  • #1,178
  • Nov 2, 2010 5:47pm Nov 2, 2010 5:47pm
Quoting mizuno
Does anyone know if these spikes on CAD pairs are valid price action or were made by Oanda as a market maker?

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I checked several brokers and those spikes are not present.
  • #1,179
  • Nov 2, 2010 6:03pm Nov 2, 2010 6:03pm
Quoting Low
Really? I still love Oanda as a broker, I'm just starting to get a little PO'd at GUI problems that never used to happen.
Recently I got somebody at online chat help who was pretty good. My experience with them (online chat help) has been hit or miss, some of them are thorough & helpful and some are just going through the motions. Anyway, I explained all my recurring GUI problems and this person opened up an investigation ticket. I was advised to email in the java console log from a session in which the problems had been recurrent. Interestingly, after that long chat session, I didn't have more than a couple of problems. Coincidence? Anyway, a few days later frontdesk emailed me to check on platform performance. It has been much better - and I didn't do anything on my end.

Moral? Maybe if you complain enough times about your recurring problems then maybe somebody at Oanda will help you.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,180
  • Nov 2, 2010 8:48pm Nov 2, 2010 8:48pm
Quoting The Fool
Recently I got somebody at online ....
That's good to hear, I think I'm trying the same strat. I sent them an email listing my issues, and they suggested the same 'ol thing, "clear your java cache and everything will be OK".

So I did. And I've uninstalled and reinstalled my java, and reloaded new desktop icons, and it still works.....sort of...

So maybe I'll be the squeaky wheel and see what happens. If this persists I will move to a different broker, because waiting 10 minutes for my platform to open and stabilize (without chart windows) is a joke.

Sure I can trade off my MT4 demo charts, but if I have to, that's just plain dumb.
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