OANDA: Reasons behind our Sunday trading halt | Forex Factory

OANDA: Reasons behind our Sunday trading halt | Forex Factory

OANDA: Reasons behind our Sunday trading halt

From oanda.com

OANDA will halt trading this Sunday, June 17, from 6:00 AM EDT until approximately 3:00 PM EDT. I would like to further explain OANDA’s reasoning for this action. First off, OANDA is the only forex provider that permits off-market, weekend trading. In truth, volumes during the weekend are much lower than typical trading days, but OANDA has made this available as a service for its clients rather than an opportunity to increase corporate revenues. The decision to halt trading is very much tied to the uncertainty in Europe and in particular, the Greek election. Given these events, there is the potential for extreme ... (full story)

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Jun 14, 2012 5:50pm

people are so unappreciative.
this the only broker in the world willing make a price to you on weekends.
this time they not like the risk.
so they not make you price.
Thats their call.
so you go try find prices elsewhere lor.
So far as i check no one wants make prices.

So world stops a little while.
the poles not going to shift yet la.

Anyways, its already a gamblers week, so far.
thanks to unstable politics.

regards

Jun 15, 2012 4:06am — Edited

traders afraid of risk?
cowboys afraid of horses?

is russian roulette time.
lets see who's chamber has a round in it.
they made the situation,
someone's gotta pull the trigger.
fire in the hole!
http://www.youtube.com/watch?v=BPi2AetitZc

peeps just don't get it ?
they got no govt.
1st they got to get a government.
then they governments got to get the works right get them out of the hole.
either way there's a round in the chamber.

risk in any form is risk.
just watch out you not leveraged up to you eye brows.

This weekend , every financial institution is risk exposed.
even if they are delata neutral.
the gapping will make then delta exposed.
no way out.
is better have markets then sudden death.

regards

Jun 15, 2012 7:20am

Quoting Guest

Disliked

why is oanda at risk ? its not like they r trading our money > or do they ?

Ignored

hello friend,
how will they defray position risk when no primary dealers are there for them?
what if they gets hit big?
they willing take 10 mio hits
after gets hits, because else where there prices no where else, they will be like tier 1 bank?

you want make markets for me?

Jun 15, 2012 7:25am

Quoting Patience

Disliked

Bro, every time you place a trade, it's a punt. You are placing a bet on an uncertain outcome ergo gambling.

I don't know why people are so confused about this around this forum. Gambling doesn't have to be a "dirty" word.

Ignored

for professional traders, it is.

Sorry for my exuberance.
sometimes we do gamble.
but thats where the unprofessionalism.
normally after making too much.
it gets to the head.

regards

Jun 15, 2012 5:35am

Quoting chrisb3182

Disliked

Basically trading this weekend's election today is gambling, not trading.

To open a position today is a punt.

Ignored

Bro, every time you place a trade, it's a punt. You are placing a bet on an uncertain outcome ergo gambling.

I don't know why people are so confused about this around this forum. Gambling doesn't have to be a "dirty" word.

Jun 15, 2012 10:03am

Quoting fti

Disliked

for professional traders, it is.

Ignored

Indeed fti. Papa Platypus (a revered member of FF) has already reprimanded me for calling trading gambling. Gawd forbid we call the professionals gamblers with all the money that they get paid. Now, that would be a crime

While here, I must say that I enjoy your words of wisdom very much in your thread. I'm a silent follower.

Jun 18, 2012 3:12am

Quoting wildbill2u

Disliked

Does anyone imagine the Eur/USD going up 1000 pips? I don't see it.

Ignored

In hind sight you have been completely correct.

For all the rest of you, how many of you could predict the size of the actual movement. I did not, and did not try either. However cast your minds back a few short months - did you see that manoeuvre by the SNB coming? Were you the wrong side of a 1200-pip movement?

If the only liquidity available at OandA on a Sunday are the clients with an OandA account, and every tries the same move, how big would that price movement have been?

Jun 15, 2012 5:43am

guy's they trying to void 1000s of service call on Monday morning , i don't think they will loose any money extra widen spread will take care of all stops , during USA rating cu weekend eu spread was 40 pip , this weekend it might go 100 pip

Jun 15, 2012 11:21am

yeah big deal, so what. just for the record, when such "huge" fluctuations are expected, big players are either positioned already (because they know what's going to happen)... or out.
at least oanda came out in the open and explained, unlike many other "professional" institutions.

Jun 15, 2012 8:39pm

Quoting wildbill2u

Disliked

Does anyone imagine the Eur/USD going up 1000 pips? I don't see it.

Ignored

I do. And then some. Like around 2000 pips. But that's within the next 23 months. Not in one day.

Jun 15, 2012 12:22am

I understand the concern. However, to say, "" If these fluctuations are wide enough, accounts that under normal conditions would be considered well-capitalized, could become subject to a margin call. ""

I dunno Oanda, why not just say that you are not willing to take the risk of losses due to fast market moves that you can not hedge ?? True, Yes ??

Jun 15, 2012 9:57am

Quoting ssshhhh

Disliked

pepperstone adviced your clients too, the gap could be huge and i will protect all my positions with hedge

Ignored

What is the definition of "huge"? DailyFX has been talking about a correction to 1.28-1.30 area for some time since the shorts are oversold. This Greek election may be a one=time event risk not contemplated in that scenario.

Jun 14, 2012 4:01pm

Well, if OandA are making this call there must be serious concern that something will happen. Where can I open a short in Drachmas....?

Jun 15, 2012 4:19am

Yes guys let's be realistic, the risk is too high for Oanda, and they decided there's no shell game this weekend. The high-end bucket shop will be closed this Sunday.

Jun 15, 2012 10:13am

Quoting wildbill2u

Disliked

What is the definition of "huge"? DailyFX has been talking about a correction to 1.28-1.30 area for some time since the shorts are oversold. This Greek election may be a one=time event risk not contemplated in that scenario.

Ignored

Should be huge for the south or north, will depend on who will win with majority in parliament.
Any news over the weekend in the market weighs, imagine an election in the epicenter-country of this crisis

Jun 14, 2012 5:10pm

Does anyone imagine the Eur/USD going up 1000 pips? I don't see it.

Jun 14, 2012 6:31pm

Quoting Guest

Disliked

So gaps are reality?
I tip that eur will spike like 300-400pips, ok ?

Ignored

you mean plungs

Jun 14, 2012 4:33pm

Lmao panda thinking all traders will have margin call, what a load of bullocks. They just won't allow traders to make money based on 1 single entry but farting about margin calls. If this ain't corporate greed what is?

Jun 15, 2012 1:44am

Basically trading this weekend's election today is gambling, not trading. Until we know the result of Sunday's election we can't make a fact based trading decision. In all likelyhood, the markets won't react in the way people will expect from any given result anyway, if the last year is anything to go by. The safest way to trade this is to wait until Monday morning and see what the price is doing, then jump on the trend. To open a position today is a punt.

Jun 15, 2012 4:00am

I have an Oanda account and I love it. I do not understand the negative comments to Oanda's decision. Oanda usually offers the possibility of paying large spreads during the week-end, this time they have decided that it just would be too wide.
Excellent decision. You wanna trade during the week-end? Go somewhere else!

Jun 15, 2012 10:08am

Quoting fti

Disliked

people are so unappreciative.
this the only broker in the world willing make a price to you on weekends.

Ignored

Well said.

That's the world we live in, people always want more even if they're getting a fairer deal than average... Maybe that's why weekends like this will keep happening in the first place...

Jun 18, 2012 3:53am

Quoting Exodus

Disliked

In hind sight you have been completely correct.

If the only liquidity available at OandA on a Sunday are the clients with an OandA account, and every tries the same move, how big would that price movement have been?

Ignored

Which leads to a question: If everyone has the same order (say: buy, in this case, and at a specific prige range (not more than xx)), and there's no-one else to sell, how can anyone even enter a position?

Jun 15, 2012 9:39am

pepperstone adviced your clients too, the gap could be huge and i will protect all my positions with hedge

Jun 14, 2012 4:49pm

I reckon Monday may be good for buying my euros for a jaunt round Europe next month. Happy days

Jun 15, 2012 1:22am

If the market spikes does anyone think the euro will go up??? I can't see it.

Trader#CACE

Jun 15, 2012 6:36pm

This is very similar to their platform shutting down during crucial economic news events.
The SEC should look at the history of this at OANDA.
I can honestly say that over the years it has been numerous.
Like lots.
I don't trust OANDA during news events and trade on FXCM during news events.

Trader#B1AF

Jun 14, 2012 4:34pm

So gaps are reality?

I tip that eur will spike like 300-400pips, ok ?

Trader#32C2

Jun 15, 2012 5:01am

why is oanda at risk ? its not like they r trading our money > or do they ?

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Jun 14, 2012 3:09pm
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