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  • #1,561
  • Jan 26, 2011 9:52am Jan 26, 2011 9:52am
Quoting A_3
It's stated on the Oanda site that active accounts were counted only! Who is forexcrunch? A faggy character from pokemon,your favorite cartoon?
Well, of course blown accounts are not active anymore. So 47% of profitable accounts is half of it, 23,5% of all active and not active accounts if there is as much active as there is not active accounts.

Yes, I get interest payed everyday even if I don't have position opened.

I THINK, because you can exchange currencies between your accounts and make good money with it, it can be counted as profit??? Example: When EURUSD hits bottom, exchange all your Dollars into Euro account, let's say at 1.2:1. When EURUSD hits top, buy dollars back at 1.4:1 by moving your money into USD account and you have made lots of money by doing nothing. It is the same as trading with 1:1 leverage, without any worries or stoplosses... or worrying about lack of hedging at Oanda.... I know at least one guy who does it at Oanda, and this guy is not me *g*, I am the second guy I know ^^. There you go 50% a year on your account by doing nothing....

By the way, who the hell made that stupid regulation? He needs to be hanged! The regulation must sound like this: percentage of accounts that are 100% and up for the quarter, percentage of accounts that are 50%-99% and up of the quater and so on, so we see where the trick lies. Maybe Oanda has many accounts that are like 1-2% profitable which completely overshadows statistics.

By the way, having half of the accounts profitable is a good reason for oanda start bashing their customers, hunting stop losses, play with spread a little more... to lower that number slightly in exchange for good profit. This is what I would have done if I owned Oanda. No hard feelings, it's business only.
I found a penny today. That's +100 pips for me.
  • #1,562
  • Jan 26, 2011 10:28am Jan 26, 2011 10:28am
Quoting ReaM
Well, of course blown accounts are not active anymore. So 47% of profitable accounts is half of it, 23,5% of all active and not active accounts if there is as much active as there is not active accounts.
We don't know how it is exactly calculated. Who cares? But you can not make some bogus calculations from the land of fantasia. How many are blown in a quarter of a year (non-profitable) and how many are blown forever (inactive)? How many are blown forever elsewhere? We don't know. Again, who cares? What's important is your and my own stuff.
  • #1,563
  • Jan 26, 2011 10:38am Jan 26, 2011 10:38am
Quoting ReaM
Maybe Oanda has many accounts that are like 1-2% profitable which completely overshadows statistics.
Again we don't know. Again theories from the land of Fantasia. So here is my theory from Fantasia, 1-2% of account average $100.000 in comparison to 1-2% of account average of $1.000 at other brokers. What's the fantastic difference? lol

Quoting ReaM
By the way, having half of the accounts profitable is a good reason for oanda start bashing their customers, hunting stop losses, play with spread a little more... to lower that number slightly in exchange for good profit. This is what I would have done if I owned Oanda. No hard feelings, it's business only.
Good thing is that Oanda isn't a shop called Ream.
  • #1,564
  • Jan 26, 2011 11:45am Jan 26, 2011 11:45am
Quoting A_3
Again we don't know. Again theories from the land of Fantasia. So here is my theory from Fantasia, 1-2% of account average $100.000 in comparison to 1-2% of account average of $1.000 at other brokers. What's the fantastic difference? lol



Good thing is that Oanda isn't a shop called Ream.
You can divide up further, for example not count accounts under couple of thousand at all, or divide them inteo 10,000, 100,000, 1,000,000,

you can read it out of my post... or use a formula that calculates everything into it, giving less priority for people with very small acounts... you know, like EMA.

Anyways, the way the number is present is simply wrong.
I found a penny today. That's +100 pips for me.
  • #1,565
  • Jan 26, 2011 5:32pm Jan 26, 2011 5:32pm
Quoting A_3
interest wasn't counted. read the thread, moronato.
Actually, according to Oanda's website, interest is counted. Read the disclaimer on their website http://fxtrade.oanda.com/why/policie...rccont=graphic. It's in small print and grey, so you may have missed it.

Source: Disclosure documents from U.S. RFEDs for Q4 2010 for non-discretionary U.S. retail forex client accounts. By definition from the CFTC, an account is profitable if the following formula has a value above zero: the sum of realized and unrealized gains and/or losses on all trades carried at any time during the quarter; minus fees, commissions and other charges; plus all income or rebates, including interest paid. Deposits and/or withdrawals of funds are not included.


This was pointed out a long time ago by forex magnates http://forexmagnates.com/oandas-high...lude-interest/.

So who cares? Well the NFA obviously does since they released a notice yesterday on how to calculate account profitability http://www.nfa.futures.org/news/news...ArticleID=3746

The calculation, including determining the total number of non-discretionary retail forex customer accounts maintained by the RFED and FCM that quarter, should include only accounts that executed any trades during the quarter and/or had an open position at any time during the quarter. Any account that did not execute any trades or have an open position during the quarter should not be included in the calculation regardless of whether the account maintained a cash balance and/or was paid interest or charged any fees during the quarter.


I'm guessing we have to wait until the next quarters release to see how this impacts the numbers if at all, but it does raise questions on whether the active account numbers and profitability stats are inflated due to interest. I'm sure second place GFT sees an opportunity to slip into 1st .
  • #1,566
  • Jan 26, 2011 7:21pm Jan 26, 2011 7:21pm
Quoting JP_s
Actually, according to Oanda's website, interest is counted....
Jeez, of course interest is paid on every account. What I originally meant was that accounts with interest only but no trades weren't counted. So I forgot to add the word 'only'. Big deal in a world without thinking. So interest is also paid to active accounts, of course. Interest is paid every day. That's why there is the word 'plus' written there. Trades plus interest are active accounts. 0 Trades plus interest are inactive accounts. Why excluding trading interest? It's part of a trade. And, account interest is laughable low in comparison to trading interest. Interest is paid or deducted on every trade. Your account interest will have no meaning in an active account. I'm not even sure whether account interest is even included in calculation but only interest on trading. But let's assume account interest is included. For example a $10000 account gets paid $3.7 per quarter. That's 40% of EURUSD spread costs, trading 1 lot. Wow! $10,000 transformed into an Euro account gets paid an interest of approx. $20, 2 x EURUSD spread costs of trading one lot. Won't help you much either in an active account. The currently highest paid currency is AUD. So let's get there. Transform $10000 to AUD. So you currently get 10000 AUD and you get an interest of approx $80 per quarter. Higher but not much either. Won't make many unprofitable accounts suddenly profitably.
  • #1,567
  • Jan 27, 2011 12:43pm Jan 27, 2011 12:43pm
Posted by Michael Greenberg at the following link:

http://forexmagnates.com/nfa-clarifi...lation-methods

NFA clarifies retail forex brokers’ account profitability calculation methods
Posted by Michael Greenberg in Brokers

"...After much controversy over how EXACTLY do US retail forex brokers calculate their clients’ profitability and whether all brokers use exactly same methods or not NFA has just issued a clarification. Unfortunately and probably due to loud protests from most brokers NFA decided that this calculation will NOT include dormant accounts which were paid interest. This was specifically aimed at Oanda who is known to be the only broker to pay interest into accounts and hence had higher profitability numbers.

However while on one hand it unifies all brokers on the other hand it send a negative message to the market – instead of stimulating brokers to start paying interest to client accounts (like most non forex brokers do) NFA basically says that there’s no need to do that. I don’t suppose Oanda will stop paying interest just based on this change of calculation methods but I do think that the NFA has made the wrong decision here – if this doesn’t improve brokers’ metrics why would they start paying interest to clients? Another bad call by the NFA.

Here’s the relevant excerpt from NFA’s clarification:

“NFA has received a number of questions regarding what it means to be an “open” account for purposes of this calculation. For example, there is some confusion regarding whether an account that maintained a cash balance, but had no open positions and no trading during quarter, should be included in the calculation.

After consultation with CFTC staff, NFA provides the following information:
The calculation, including determining the total number of non-discretionary retail forex customer accounts maintained by the RFED and FCM that quarter, should include only accounts that executed any trades during the quarter and/or had an open position at any time during the quarter. Any account that did not execute any trades or have an open position during the quarter should not be included in the calculation regardless of whether the account maintained a cash balance and/or was paid interest or charged any fees during the quarter.“
"Dare to live the life you have dreamed for yourself. Go forward and make y
  • #1,568
  • Jan 27, 2011 12:54pm Jan 27, 2011 12:54pm
I doubt oanda's winning % will drop much even they dont count those account receive interest only.
  • #1,569
  • Jan 27, 2011 1:06pm Jan 27, 2011 1:06pm
they basically f ed it up from the beginning! Now they try to fix what they did... always those stupid feds and regulators.

Usually, when things get fixed by the same people, expect worse results. Really, what if Oanda will stop pay me my daily interest?
I found a penny today. That's +100 pips for me.
  • #1,570
  • Jan 27, 2011 1:07pm Jan 27, 2011 1:07pm
Quoting MoreYummy
I doubt oanda's winning % will drop much even they dont count those account receive interest only.
It will be lower than 30%
I found a penny today. That's +100 pips for me.
  • #1,571
  • Jan 27, 2011 2:59pm Jan 27, 2011 2:59pm
Quoting shephrd
Posted by Michael Greenberg at the following link:

http://forexmagnates.com/nfa-clarifi...lation-methods

NFA clarifies retail forex brokers’ account profitability calculation methods
Posted by Michael Greenberg in Brokers

"...After much controversy over how EXACTLY do US retail forex brokers calculate their clients’ profitability and whether all brokers...
....so the National Football Association is really trying to show that they deserve some credibility.

The only reason they are doing something in this case is because the other brokers ganged up against oanda.

The real issue is the fact that all brokers are using weighted ways of calculating profitability among their costumers, making less than 1% profit become 15%. But about this issue you will never hear from the NFA or any broker because at the end of the day they are all in bed together.
  • #1,572
  • Jan 27, 2011 3:13pm Jan 27, 2011 3:13pm
Quoting ReaM
It will be lower than 30%
if that's what we will see next quarter, that's awesome.
  • #1,573
  • Jan 28, 2011 8:21am Jan 28, 2011 8:21am
The regulations are probably not yet enforced, so probably next after the next.
I found a penny today. That's +100 pips for me.
  • #1,574
  • Jan 31, 2011 2:16pm Jan 31, 2011 2:16pm
How is FXtrade these days? I basically give up trading during volitility back in october cause it was so unstable. I was thinking about doing some scalping again so maybe someone would be so kind to tell me if its working or not?

Thanks.
  • #1,575
  • Jan 31, 2011 3:31pm Jan 31, 2011 3:31pm
yes, it was good this week!

I just wait until spread goes to normal after news. No crashes this week!

Just slippage, use bounds.
I found a penny today. That's +100 pips for me.
  • #1,576
  • Jan 31, 2011 3:35pm Jan 31, 2011 3:35pm
Quoting ReaM
yes, it was good this week!

I just wait until spread goes to normal after news. No crashes this week!

Just slippage, use bounds.
thanks, i will try it with some small lots, pretty much lost confidence in their platform last year...

cheers!
  • #1,577
  • Feb 1, 2011 5:48pm Feb 1, 2011 5:48pm
I've been with oanda for over a year now and although there have been some frustrations, they are in hindsight due to my own trading flaws in lack of discipline, strong psychology and not paying attention to "red news" spots !

I have no problems with oanda although like others did wonder where their 47% figure came in....

....but onward, we all know that, whatever the figure, less than 50% make profits in forex...lets be those profit makers !!

Doug
  • #1,578
  • Feb 1, 2011 8:24pm Feb 1, 2011 8:24pm
Quoting quintodc
Let's be one of those "47%'s", let's make profit !
You do of course realize that the 47% stats describe the percentage of accounts that ended in the plus after only 3 months?

Notice how Oanda doesn't clearly mention this and chose to include the word "quarter" only in the disclaimer written in small fonts.
  • #1,579
  • Feb 2, 2011 6:59am Feb 2, 2011 6:59am
Whooaa??

Oanda USD/JPY has a spread of 0.7 pips right now???

I had to take a look twice.... never seen such a low number ever.
Attached Image (click to enlarge)
Click to Enlarge Name: rates.jpg Size: 87 KB
this pig cannot be slaughtered for ever... or can it?
  • #1,580
  • Feb 2, 2011 7:12am Feb 2, 2011 7:12am
Quoting quintodc
I've been with oanda for over a year now and although there have been some frustrations, they are in hindsight due to my own trading flaws in lack of discipline, strong psychology and not paying attention to "red news" spots !

I have no problems with oanda although like others did wonder where their 47% figure came in....

....but onward, we all know that, whatever the figure, less than 50% make profits in forex...lets be those profit makers !!

Doug
I think the 47% number comes from the fact that Oanda only pays traders for making winning trades.
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