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OANDA Discussion

  • #1,941
  • May 4, 2011 2:30pm May 4, 2011 2:30pm
Quoting ChadFX
The test run on demo account went OK. It just happened on a live trade.
The (news) spreads on demo are the same!!! So how would it be possible to get away with the same sl on demo????
  • #1,942
  • May 4, 2011 3:02pm May 4, 2011 3:02pm
A_3

Situations are different. I may not come across the same volatility as in live. I may have traded different pairs, and different time of day, etc.
  • #1,943
  • May 4, 2011 3:05pm May 4, 2011 3:05pm
Quoting Platypus
Ok folks got to go.....the poke was fun!! Catch you all later !!
This Guy is just a Teenager That don't even know a thing about Forex. For one no REAL trader would trade with 20 Grand in their account, Also if 10 grand is Child's play for him why would he trade Forex, i would be in a Yacht in the Virgin island surrounded by Virgins. Forex is a Serious business i come to this site to Learn off of other traders and hopefully teach other too. he comes here cause he see's his dad does it and thinks it's fun and games
Best Regards Moneymike
  • #1,944
  • May 4, 2011 3:18pm May 4, 2011 3:18pm
Quoting Platypus
hey Chad I don't know about your level of experience as a trader but you can't actually blame Oanda or any other broker out there for spreads during news time. thats a matter of life or death for brokers. They cant fulfill your order if the liquidity is not there.

If you insist in trading the news you better go to Vegas. It is pure gambling.

Even banks can't guaranty a price if some event shakes the ground. thats why a thingy called options was invented

I understand that, Platypus. I did not blame them. I just try to find the brokers that provide more stable spread, slippage in those situation. Some brokers may have more liquidiy providers than others. At least my experiences at Dukascopy confirmed that.

I do not trade news and I try to avoid as best as I could, but sometimes, I have to hang on to my position thru the news.
  • #1,945
  • May 4, 2011 3:19pm May 4, 2011 3:19pm
And if I trade longer time frame, I may be OK with OANDA.
  • #1,946
  • May 4, 2011 3:41pm May 4, 2011 3:41pm
Quoting ChadFX
A_3

Situations are different. I may not come across the same volatility as in live. I may have traded different pairs, and different time of day, etc.
And then you judge one live news trade you didn't wanna do.
  • #1,947
  • May 4, 2011 7:57pm May 4, 2011 7:57pm
Quoting A_3
When you do it it is embarrassing
Ok.......snif......snif....now you hurt the Platypus feelings!!

Sorry folks but it is too much hostility for a sensible guy like me to bear!

Thats totally unfair Fellas!!

One of my testicles has enlarged in consequence of such emotional distress!!
  • #1,948
  • Edited 8:43pm May 4, 2011 8:18pm | Edited 8:43pm
Hi all,

I was wondering what the best way to fund an Oanda account will be. I have it between the credit card (debit card from checking) and a bank transfer. Does the bank transfer act as a wire (wire fees) or is it treated as an ACH? Are there any drawbacks to using the credit card feature as that should fund the account instantly. I see that withdrawing has to come by the same method and they charge to withdraw. I plan on depositing $1,000 initially.

I am a US resident.

Thanks
  • #1,949
  • May 4, 2011 10:05pm May 4, 2011 10:05pm
Quoting Typical
Hi all,

I was wondering what the best way to fund an Oanda account will be. I have it between the credit card (debit card from checking) and a bank transfer. Does the bank transfer act as a wire (wire fees) or is it treated as an ACH? Are there any drawbacks to using the credit card feature as that should fund the account instantly. I see that withdrawing has to come by the same method and they charge to withdraw. I plan on depositing $1,000 initially.

I am a US resident.

Thanks
Bank transfer is wire I believe, no ACH that I know of. I usually do a bill pay through my bank and have them mail a check. Usually in the account in a few days. Credit Card is instant in the account, I saw the option the other day and tested it.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #1,950
  • May 5, 2011 4:20am May 5, 2011 4:20am
I'm now trading on oanda about 1 Year and i'm very content with them.
ThE only annoying is the increase of their spreads the last months.
  • #1,951
  • May 5, 2011 9:36am May 5, 2011 9:36am
Quoting Lodge
I'm now trading on oanda about 1 Year and i'm very content with them.
ThE only annoying is the increase of their spreads the last months.
i never Heard of a Increase in spread. Spreads are Dynamic in nature, At least with credible Brokers they can be anywhere from 0.9 to 10 On the eurusd. it depends on what time your trading
Best Regards Moneymike
  • #1,952
  • May 5, 2011 10:51am May 5, 2011 10:51am
Quoting LasVahGoose
Bank transfer is wire I believe, no ACH that I know of. I usually do a bill pay through my bank and have them mail a check. Usually in the account in a few days. Credit Card is instant in the account, I saw the option the other day and tested it.
Just want to confirm what LasVahGoose said since I was just fresh out of these process. Their 'Bank Transfer' is wire transfer, no ACH, no EFT and they should have been more specific and put 'Wire Transfer' there, since routing no. is different.

Credit card - I do not trust anyone on this. Many brokers's customer service told me that they treat it as a 'purchase' so we don't pay any fee. The credit card company, however, treats that as a cash advance and charge fee based on amount, and if you have big deposit it can be significant. I fought with them before and they won't budge (credit card company). So I don't use credit card anymore.

I 'd just did exactly like LasVahGoose -- bill pay.
  • #1,953
  • May 5, 2011 10:55am May 5, 2011 10:55am
Quoting moneymike
i never Heard of a Increase in spread. Spreads are Dynamic in nature, At least with credible Brokers they can be anywhere from 0.9 to 10 On the eurusd. it depends on what time your trading
0.9 to 10 is bearable. but spreads go up 20, hang on for almost a min. and come back down to 5 (instead of 1 or 2) for an hour -- that is a little bit too much for me.
  • #1,954
  • May 5, 2011 11:00am May 5, 2011 11:00am
Quoting moneymike
i never Heard of a Increase in spread. Spreads are Dynamic in nature, At least with credible Brokers they can be anywhere from 0.9 to 10 On the eurusd. it depends on what time your trading
No he meant the overall increase in their average spreads during the last month. And he's right. The "norm" (the spread with the highest frequency of occurance) used to be 0.9 pips on EURUSD for example, now it abnormally shifted to about 1.3 pips. Seems like a permanent change and they didn't say a word about it or why they increased their spreads.
  • #1,955
  • May 5, 2011 11:34am May 5, 2011 11:34am
Quoting ChadFX
0.9 to 10 is bearable. but spreads go up 20 ...
There is no 20 pip news spread on EURUSD

Quoting ChadFX
and come back down to 5 (instead of 1 or 2) for an hour
What pair?
  • #1,956
  • May 5, 2011 11:58am May 5, 2011 11:58am
GPPUSD
  • #1,957
  • May 5, 2011 11:59am May 5, 2011 11:59am
Sorry, their normal spread is 2-3 not 1-2.
  • #1,958
  • May 5, 2011 1:58pm May 5, 2011 1:58pm
Quoting Marv
No he meant the overall increase in their average spreads during the last month. And he's right. The "norm" (the spread with the highest frequency of occurance) used to be 0.9 pips on EURUSD for example, now it abnormally shifted to about 1.3 pips. Seems like a permanent change and they didn't say a word about it or why they increased their spreads.
nothing fishy... market just more volatile... wait until eurusd moves only 50-60 pips on average daily and I'm sure they might go down even to 0.8

They can't have the spread so tight that they will not make any profits...
  • #1,959
  • May 5, 2011 2:27pm May 5, 2011 2:27pm
I just took this desktop snapshot 3:30pm new york time the market's unusually volatile but the pips 0.08. Now after 6 during that post new york pre Japan period price may be 1.8 But you should expect that. others may have it like 5 pips
Attached Image
Best Regards Moneymike
  • #1,960
  • May 5, 2011 2:42pm May 5, 2011 2:42pm
also these "traders that open a Trade and place a 30 pip stop loss are a joke. The Forex market is growing more and more popular. Billions of dollars move hourly and you think a 30 pip stop loss will hold. why not wait for the price to move to a know support or resistance and place your Stop loss behind it, how Hard is that?
Best Regards Moneymike
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