In two days (47 trades), I lost about 80 pips trading with a small stop-loss.
I had 9 consecutive losing trades (not all at max stop-loss) during a sequence.
Compare that to 200+ trades previously with only 4 consecutive losing trades ever on the previous sub-account. I'll admit the liquidity was bad. But even still, I had 4 (-8) pip losses consecutively at one point as well.
Taking 4 and 5 pip losses when the market is in a 25-30 pip range all afternoon doesn't work.
I like my wide stop-loss better. Yes, eventually a large loser happens...
but you have profits built to help cushion the blow.
Oanda's spread average is still 1.2 pips. I've decided to make a broker change.
I'm going back to MB Trading. I have used them before for forex, futures, and stocks.
Their ECN platform has a fairly stable 0.9 pips... and often times it shrinks to less than that.
They do charge a commission though.. on both sides. ($2.95 per 100,000 USD.)
Unless....
you add a limit order that is NOT marketable at the time of entry...
you get PAID $1.95 per 100,000 USD if it executes AND no commission is charged.
You get paid to add liquidity to the ECN if your order gets executed with no commission.
The markets are fast, it's no "cakewalk".
The other essential point is you can sell on the offer and buy on the bid.
Your orders are represented on the ECN market depth (until executed).
I've been getting used to the platform. They offer MT4 accounts but it is too "clunky" for me.
I'm using their MB Desktop Pro, configuring it how I prefer.
So...this platform essentially defeats the notion that "true" scalping is not possible.
You can beat the spread (actually Buy on the Bid, Sell on the Offer).
You can trade with no commission if you use limit orders not immediately marketable
( and you get paid a small amount when executed). They are a true ECN.
I've been getting price improvements on demo, I'm curious to see whether this will happen as often live.
I had 2 of 10 trades fill better than my limit order.
Oanda is fast...but it feels "different" this year. Their integration of MT4 should've lowered spreads.
They have more US customer accounts than any other US broker by far.
I think, after trading daily with them for more than 18 months, their liquidity is actually worse.
Yes, it could be market conditions and the overall uncertainty in the world... but I don't believe it is.
There could be an introduction of high-frequency algorithms that have changed the landscape.
Like today, when the maket is in a tight range...
I'd like the opportunity to enter a trade and not have to fight a wide spread.
If I enter trades with a limit and exit with a market order,
I'm still beating Oanda's spread after paying commission.
Likewise, I have the OPTION to try to exit on the bid/offer with a LIMIT order as well
(beat the spread, and get paid an additional small amount).
I will update as I trade live with MB Trading.
I had 9 consecutive losing trades (not all at max stop-loss) during a sequence.
Compare that to 200+ trades previously with only 4 consecutive losing trades ever on the previous sub-account. I'll admit the liquidity was bad. But even still, I had 4 (-8) pip losses consecutively at one point as well.
Taking 4 and 5 pip losses when the market is in a 25-30 pip range all afternoon doesn't work.
I like my wide stop-loss better. Yes, eventually a large loser happens...
but you have profits built to help cushion the blow.
Oanda's spread average is still 1.2 pips. I've decided to make a broker change.
I'm going back to MB Trading. I have used them before for forex, futures, and stocks.
Their ECN platform has a fairly stable 0.9 pips... and often times it shrinks to less than that.
They do charge a commission though.. on both sides. ($2.95 per 100,000 USD.)
Unless....
you add a limit order that is NOT marketable at the time of entry...
you get PAID $1.95 per 100,000 USD if it executes AND no commission is charged.
You get paid to add liquidity to the ECN if your order gets executed with no commission.
The markets are fast, it's no "cakewalk".
The other essential point is you can sell on the offer and buy on the bid.
Your orders are represented on the ECN market depth (until executed).
I've been getting used to the platform. They offer MT4 accounts but it is too "clunky" for me.
I'm using their MB Desktop Pro, configuring it how I prefer.
So...this platform essentially defeats the notion that "true" scalping is not possible.
You can beat the spread (actually Buy on the Bid, Sell on the Offer).
You can trade with no commission if you use limit orders not immediately marketable
( and you get paid a small amount when executed). They are a true ECN.
I've been getting price improvements on demo, I'm curious to see whether this will happen as often live.
I had 2 of 10 trades fill better than my limit order.
Oanda is fast...but it feels "different" this year. Their integration of MT4 should've lowered spreads.
They have more US customer accounts than any other US broker by far.
I think, after trading daily with them for more than 18 months, their liquidity is actually worse.
Yes, it could be market conditions and the overall uncertainty in the world... but I don't believe it is.
There could be an introduction of high-frequency algorithms that have changed the landscape.
Like today, when the maket is in a tight range...
I'd like the opportunity to enter a trade and not have to fight a wide spread.
If I enter trades with a limit and exit with a market order,
I'm still beating Oanda's spread after paying commission.
Likewise, I have the OPTION to try to exit on the bid/offer with a LIMIT order as well
(beat the spread, and get paid an additional small amount).
I will update as I trade live with MB Trading.