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  • #11,441
  • Mar 24, 2014 6:08am Mar 24, 2014 6:08am
Hannes, thanks for taking the time to answer in such a detailed way. Very appreciated. My way of trading news is quite similar to yours, even though I have an extra account where I trade almost completely according to Tony's way. Account sizes are small: still in testing and learning.

Posting your result is a good thing to me. Not confusing at all.

We are a nice band of traders here, with good sense of humour. Personally I like to post and read you guys when news are released. Psychologically, it helps. Crying together for losses eases your pain, discoball dancing together for winners makes you even happier.
  • #11,442
  • Mar 24, 2014 6:14am Mar 24, 2014 6:14am
Speaking about slippage.

One of my brokers is Pepperstone, maybe it is not perfect. But I never noticed a significant slippage (10-15 pips) on pending orders triggered by news release.
  • #11,443
  • Mar 24, 2014 6:26am Mar 24, 2014 6:26am
Quoting Claudius
Speaking about slippage. One of my brokers is Pepperstone, maybe it is not perfect. But I never noticed a significant slippage (10-15 pips) on pending orders triggered by news release.
What I don't "like" about Oanda is their very low leverage.

What I do "like" about Oanda is their very low leverage.

Confused much?

Trading with Oanda is going to be like going cold turkey off of filterless cigarettes and trying the ultra low nicotine / tar ciggies. I am not entirely sure it is going to be satisfying....

However...

I think that it may be necessary to trade in this way, or at least trade this way in one of my accounts. I have an IB that pays me rebates in one of my other accounts, not that it helps if that broker is shafting you with slippage....

But, I think that most all brokers are the same seeing as they have the same end goal in sight: Profit. It's just a case of finding out who is the lesser of all the evils at the time...

H

  • #11,444
  • Mar 24, 2014 6:33am Mar 24, 2014 6:33am
Quoting HannesJoub
Oanda users, please advise, when spread widens on Oanda, that can / will knock out your SL if it is in range? Therefore your SL has to be outside of the spread widening area to remain safe, regardless of movement in the price? It also follows then that price is so much closer to your SL during the spread widening period? H
If spread widens to your SL you will get taken out with any broker. These last 2 releases (French and German PMI) I saw the spreads widen to 5-6 pips on E$ then settle to about 2 pips for a couple minute and then settle back to the normal 1 -1.2 pips. The last couple weeks I've had several live trades get extremely close to my SL and not get touched.

Today I've had 3 trades (not news trades but a Renko, MACD, ADX strategy I use.)

I exited one trade early for - 4 pips on a short I had running when I got an exit signal just before the French PMI.

A long I placed on my strategy signal got stopped by the German PMI for -10.1 pips (got slipped a whole whopping 0.1 pips)

I currently have another short on with this strategy and now with the SL at BE and +17 pips and letting it run until I get my exit signal. I might end up with 0 pips in a few seconds or I might end up with 100 pips after baby sitting and trailing this trade all day and all night but I'll only exit when I get my signal or stopped.
I don't care which way the market is going as long as it's going my way
  • #11,445
  • Mar 24, 2014 8:31am Mar 24, 2014 8:31am
Quoting PipKiller
{quote} If spread widens to your SL you will get taken out with any broker.
Thought so, thanks big guy.

H

  • #11,446
  • Mar 24, 2014 8:43am Mar 24, 2014 8:43am
Tony why did choose to only go Long? Why not always Short?
  • #11,447
  • Mar 24, 2014 8:45am Mar 24, 2014 8:45am
Quoting masterok
Tony why did choose to only go Long? Why not always Short?
I *think* it has something to do with the spread??

H

  • #11,448
  • Mar 24, 2014 8:47am Mar 24, 2014 8:47am
Peeps. Is there a way to export all of these news calenders to Excel?

This would allow me to print out the whole months events, makes notes on them etc etc...

Is there another way to do that?

H
  • #11,449
  • Mar 24, 2014 9:08am Mar 24, 2014 9:08am
Quoting masterok
Tony why did choose to only go Long? Why not always Short?
It's just his preference, you can go either way

Hannes: with Oanda say spread widens to 20, it means 10 will be added to bid and 10 to ask. So it is different then your normal broker
  • #11,450
  • Mar 24, 2014 9:28am Mar 24, 2014 9:28am
Quoting dvanderlinde
{quote} It's just his preference, you can go either way Hannes: with Oanda say spread widens to 20, it means 10 will be added to bid and 10 to ask. So it is different then your normal broker
OIC, thanks.

Are you using Oanda as well??

H

  • #11,451
  • Mar 24, 2014 10:05am Mar 24, 2014 10:05am
Quoting HannesJoub
{quote} OIC, thanks. Are you using Oanda as well?? H
Have been testing multiple Brokers and am planning on switching fully over to Oanda
  • #11,452
  • Mar 24, 2014 11:05am Mar 24, 2014 11:05am
Quoting PipKiller
{quote} Right now Metatrader for me. Just closed my Tradestation account this month and moved the money into Oanda and am observing the news on Oanda this month. Looks good so far. FX trade is browser based and something I'm not used too and never liked in the past with equities or forex having used Etrade, Scottrade and Forex.com. (My wife still trades equities on Scottrade and likes it). Metatrader took a bit for me to get used to again after using Tradestaion and MB Trading destop pro platforms for the last several years. Tony has been posting...

wait.. you're moving to oanda as well?

also i know what you mean! i'm used to professional platforms like ninjatrader, jforex etc... i really hate metatrader Lol plus not to mention it's got plugins for broker to manipulate it as well as technological bottlenecks in terms of speed of execution.

The slippage i have been talking about is not on entry but rather on STOP LOSS so that really is a bummer :/
  • #11,453
  • Mar 24, 2014 11:05am Mar 24, 2014 11:05am
Never mind the traders, looks like Oanda could be the big beneficiary of this method

Hey, as long as I can make a buck too, then it's all good I spose.

H

  • #11,454
  • Mar 24, 2014 11:20am Mar 24, 2014 11:20am
I am still having a hard time believing there is no STOP LOSS slippage during news on Oanda, can I get more verifications on this from you guys?
  • #11,455
  • Mar 24, 2014 11:29am Mar 24, 2014 11:29am
Quoting nitecop
I am still having a hard time believing there is no STOP LOSS slippage during news on Oanda, can I get more verifications on this from you guys?
You know, I was checking out their web page and they do make mention of slippage etc...I guess we would have to physically trade with them to have experience???

H

  • #11,456
  • Mar 24, 2014 11:50am Mar 24, 2014 11:50am
Quoting HannesJoub
{quote} You know, I was checking out their web page and they do make mention of slippage etc...I guess we would have to physically trade with them to have experience??? H

at this point im debating if i can even news trade, i dont mind some slippage but anything like 30-60 pips is a big no-no to me because I feel at the retail level we are trying to compete with algos/pros with machine gun speed and our brokers are using bow and arrow to execute.

my other option is to go back to scalping without news.
  • #11,457
  • Mar 24, 2014 12:15pm Mar 24, 2014 12:15pm
Quoting nitecop
I am still having a hard time believing there is no STOP LOSS slippage during news on Oanda, can I get more verifications on this from you guys?
There is some, but just a little what I have experienced. During NFP I got 50 pip slippage on ECN broker and only like 16 in oanda. But for the smaller news like todays Flash news, there is maybe 1 or 2 pip slippage.
  • #11,458
  • Mar 24, 2014 12:56pm Mar 24, 2014 12:56pm
Quoting nitecop
{quote} . my other option is to go back to scalping without news.
I feel that you should do what works for you at that given point in time, if news event trading is not for you, then don't make a square peg fit into a round hole. If scalping is your bag then you have answered your own question. Just make sure that you can say that you tried everything that you could before throwing it out...(news trading that is, and trading in general)

Whatever you decide, good luck. Trading is difficult, no need to make it harder on yourself.

God speed

H

  • #11,459
  • Mar 24, 2014 1:35pm Mar 24, 2014 1:35pm
Quoting nitecop
I am still having a hard time believing there is no STOP LOSS slippage during news on Oanda, can I get more verifications on this from you guys?

nitecop...from my experience, yes, I had slippages during news...also, (it's not Tonys method) but if you like to scalp, jumping in and out fast grabbing a couple of pips here and there, they will freeze or disconnect your platform ...if you'll call support, they will blame it on internet connection from your side... but if you don't scalp, oanda is not too bad... just sharing my experience ..
  • #11,460
  • Mar 24, 2014 1:55pm Mar 24, 2014 1:55pm
Quoting nitecop
{quote} wait.. you're moving to oanda as well? also i know what you mean! i'm used to professional platforms like ninjatrader, jforex etc... i really hate metatrader Lol plus not to mention it's got plugins for broker to manipulate it as well as technological bottlenecks in terms of speed of execution. The slippage i have been talking about is not on entry but rather on STOP LOSS so that really is a bummer :/
Move to Oanda a couple weeks ago. I like it so far

Metatrader leaves a LOT to be desired. Once I get more familiar with FXtrade I'll switch platforms....... Now if I can only figure out how to save charts and trades as pictures on FXtrade I'll be fairly happy with it.
I don't care which way the market is going as long as it's going my way
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