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Major Chink In Oandas Armor

  • #21
  • Jul 20, 2006 9:10am Jul 20, 2006 9:10am
Hey there Akuma,

<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

What’s funny is the trade had nothing to do with news, nor was the trade around news time. That’s what was the beauty of my trade, and hence the frustration of not being able to profit from it.
But stuff happens. I’m well past it.
I really don’t know how any of the widening spread stuff got convoluted issue. Plus, if one looks at my original post, I typed it in such a way as to leave my own objectivity out of it. I wanted to paint a clear picture of what happened chronologically.

<o></o>
Anyway the feed is perfect today. But I had no trade in the pair, although it did rock.
Maybe it was a freak occurrence. I don’t know.

It looks like an ECN for me. But I’ve been headed that way anyway.
Thanks for your opinion.
  • #22
  • Jul 20, 2006 9:22am Jul 20, 2006 9:22am
Insider.... My Apologies, did'nt mean to be an ass about the whole thing.
Same Whore .... Different Dress
  • #23
  • Jul 20, 2006 9:46am Jul 20, 2006 9:46am
That's cool Johndoe, I appreciate that.
I'm glad a thread I started got some views.
Maybe I'll try that again sometime.
  • #24
  • Jul 20, 2006 10:12am Jul 20, 2006 10:12am
Insider........ I hope todays trading is a better and more profitable experiance for you today.

Happy trading, William, aka Johnedoe

ps...I have been running the demos of MB Trading, and COESfx.....and well I am just not that impressed, the spreads really have not been that much differant and the exicutions have been a bit clunky, I realize these are their demo accounts but they do not inspire me, so I will probably be staying with my current MM and you already know who that is, I have had only 1 problem with them and it was resolved without dispute. well enough said.
Same Whore .... Different Dress
  • #25
  • Jul 20, 2006 10:21am Jul 20, 2006 10:21am
If you get a flatline or blank display with Fxtrade just close the connection, exit your browser, clear your java cache and reconnect and you should be fine. In a year of trading this has happened to me two times, usually there have been general net problems around at the same time too. Never harm done, I seldom trade over million units per trade and keep stops for catastrophic movements.

I don't think there is any conspiracy against you so rest easy and trade well.
  • #26
  • Jul 20, 2006 2:27pm Jul 20, 2006 2:27pm
Quoting dof
I use Oanda and I'm interested in this matter. It's not about the spread of Oanda, it'a bout beeing able to enter/exit a position in a volatile market. Having bigger spread on news should come with a quick execution, that's the whole idea, isn't it?
Watch what happens on an ECN platform (hotspotfxi) right before & after an economic release.
http://www.youtube.com/watch?v=LpGoiJHT1mc

You can clearly see how the bid/offers are pulled and the spread widens to a 10pip spread on the EUR. So even though your retail broker offer fixed or low spreads it is nearly impossible for them to offset your positions during volatile times.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

<o> </o>

Keep in mind the min. trade is suppose to 1mil on hotspotfxi<o></o>






turbo
  • #27
  • Jul 20, 2006 6:08pm Jul 20, 2006 6:08pm
Quoting turbokaos
Watch what happens on an ECN platform (hotspotfxi) right before & after an economic release.
http://www.youtube.com/watch?v=LpGoiJHT1mc

You can clearly see how the bid/offers are pulled and the spread widens to a 10pip spread on the EUR. So even though your retail broker offer fixed or low spreads it is nearly impossible for them to offset your positions during volatile times.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

<o></o>

Keep in mind the min. trade is suppose to 1mil on hotspotfxi<o></o>

turbo
That is by far the worst platform I have ever seen.

I'm curious why someone with your apparent capital is mucking around with hotspot when EBS is available?
  • #28
  • Jul 21, 2006 1:52am Jul 21, 2006 1:52am
Quote
Watch what happens on an ECN platform (hotspotfxi) right before & after an economic release.
Thanks for the video. It could be a little bigger and in more detail in my opinion.
  • #29
  • Jul 22, 2006 4:22pm Jul 22, 2006 4:22pm
Quoting richx7
Thanks for the video. It could be a little bigger and in more detail in my opinion.
Sorry mate its from the cheap video capture software I downloaded.
  • #30
  • Aug 6, 2006 6:28pm Aug 6, 2006 6:28pm
Thanks for the video. That 70 pip spread on GBP was enough to scare the #@!$%&* out of me!
  • #31
  • Aug 6, 2006 7:35pm Aug 6, 2006 7:35pm
so does hotspotfx widen their pips during new releases too? Does it ever freeze?
  • #32
  • Aug 6, 2006 8:19pm Aug 6, 2006 8:19pm
Quoting hunter101
so does hotspotfx widen their pips during new releases too? Does it ever freeze?
Watch the video. GBP spread widened to 70 pips at one point at Hotspotfx during CPI news release. EUR didn't go much over 10 pips though.

I haven't heard of any platform freezes with HotspotFX, but I don't have any firsthand experience with this particular broker.
  • #33
  • Aug 7, 2006 9:24am Aug 7, 2006 9:24am
Quoting hunter101
so does hotspotfx widen their pips during new releases too? Does it ever freeze?
I have never had any issues w/ hotspotfxi freezing.

Keep in mind hotspotfxi is not the same as hotspotfx


turbo
  • #34
  • Aug 9, 2006 5:23pm Aug 9, 2006 5:23pm
Hey, Turbo

but sustained 10 pip spreads on eur or gbp is artificial and lining someone's pockets.

yes hotspot fxi will always have better spreads and commissions than hotspot fx. fxi is out of london and requires 500k initial deposit. min trade is 1mil. same with currenex. small platform is available to use but is not going to have the same spreads and commissions as the big boys. they are fair though. the thing that gets me is oanda leaves their spreads at 8-10 for a long time, but no one is clearing at that spread for more than a couple seconds. eur should always be around 2-3 and no higher than 4 for a few seconds while traders are situating. the thing is the market is run by big players. institutions that can't put all their trades in at one time because they have too much money. they would upset the market if they did it. so there are always institutions getting in and out at various times and think about how automated this market is. computers are entering orders non stop on systems to hedge other trades or hedge other business in other markets. that is why we get 3 pip spreads on eur even on NFP. someone is always playing. thank goodness we are like a gnat regarding their position size vs ours, so we can get in and out without being noticed and book our profit to afford our nice middle of the road house and support our wonderful family all the while trading small positions in the forex market. isn't life a wonderful thing?
it's when you have the greedy people that we begin to have problems. people overleveraging news and trading recklessly. this is why oanda had its problems. too many traders came in overleveraged because oanda's price feed is a bit slow and can be picked off by watching larger platforms like hotspotfxi. this is called banging the desk and is not tolerated. too bad for oanda they can't put people on manual execution like any other broker. they simply don't have the ability. that is what makes them so popular amongst the likes of us. ha. too bad for them in the early days where people were banging them hard and making a killing. now oanda has widened spreads which hurts everyone instead of only the guilty but they are making money hand over fist as eur and gbp don't maintain their high spreads. so the news traders over their are giving a lot of money to oanda at this point. i would vote to find another broker that is more honest or i will start another brokerage that is honest. if you bang the desk and get greedy you get put on manual. that's how i would run it. the average joes that are making it on modest trades can get by. what do you all think?
  • #35
  • Aug 9, 2006 5:59pm Aug 9, 2006 5:59pm
Quoting jswanson
Hey, Turbo

but sustained 10 pip spreads on eur or gbp is artificial and lining someone's pockets.

yes hotspot fxi will always have better spreads and commissions than hotspot fx. fxi is out of london and requires 500k initial deposit. min trade is 1mil. same with currenex. small platform is available to use but is not going to have the same spreads and commissions as the big boys. they are fair though. the thing that gets me is oanda leaves their spreads at 8-10 for a long time, but no one is clearing at that spread for more than a couple seconds. eur should always be around 2-3 and no higher than 4 for a few seconds while traders are situating. the thing is the market is run by big players. institutions that can't put all their trades in at one time because they have too much money. they would upset the market if they did it. so there are always institutions getting in and out at various times and think about how automated this market is. computers are entering orders non stop on systems to hedge other trades or hedge other business in other markets. that is why we get 3 pip spreads on eur even on NFP. someone is always playing. thank goodness we are like a gnat regarding their position size vs ours, so we can get in and out without being noticed and book our profit to afford our nice middle of the road house and support our wonderful family all the while trading small positions in the forex market. isn't life a wonderful thing?
it's when you have the greedy people that we begin to have problems. people overleveraging news and trading recklessly. this is why oanda had its problems. too many traders came in overleveraged because oanda's price feed is a bit slow and can be picked off by watching larger platforms like hotspotfxi. this is called banging the desk and is not tolerated. too bad for oanda they can't put people on manual execution like any other broker. they simply don't have the ability. that is what makes them so popular amongst the likes of us. ha. too bad for them in the early days where people were banging them hard and making a killing. now oanda has widened spreads which hurts everyone instead of only the guilty but they are making money hand over fist as eur and gbp don't maintain their high spreads. so the news traders over their are giving a lot of money to oanda at this point. i would vote to find another broker that is more honest or i will start another brokerage that is honest. if you bang the desk and get greedy you get put on manual. that's how i would run it. the average joes that are making it on modest trades can get by. what do you all think?
A lot of what you said sounds like pure speculation to me. The brokers that don't widen spreads are simply bucket shops. Any true market place has wider spreads during volatility. That's just the way it is. You show me fixed spreads, I'll show you a bucket shop. Infact fixed spreads are a complete farce since you often get such bad slippage that a 10 pip spread at Oanda seems tiny.
  • #36
  • Aug 9, 2006 6:03pm Aug 9, 2006 6:03pm
Quoting faure
That's just the way it is. You show me fixed spreads, I'll show you a bucket shop. Infact fixed spreads are a complete farce since you often get such bad slippage that a 10 pip spread at Oanda seems tiny.
exactly - "fixed" means you get hosed while variable is more likely to be closer to the supposed price that the "fixed" guys were offerring.
  • #37
  • Aug 9, 2006 6:19pm Aug 9, 2006 6:19pm
Quoting americanteek
exactly - "fixed" means you get hosed while variable is more likely to be closer to the supposed price that the "fixed" guys were offerring.
This is definitely an opinion depending on how you look at it.

Technically, I would hate to be trading any kind of volatility with variable spreads unless I can trade INSIDE the spread (which some variable spread brokers do not).

So, this way I could make my spread...but if one side of the price is coming down and I can put an order in to make my own spread, then forget it...I'd rather take a requote than end up 70 pips away from the action...
  • #38
  • Aug 9, 2006 6:23pm Aug 9, 2006 6:23pm
what broker are you with mikal-san?
  • #39
  • Aug 10, 2006 4:53am Aug 10, 2006 4:53am
Great post jswanson.

I think you guys are having a great discussion.

All 4 of you guys, jswanson, faure, American teek, mrmikal, bring up excellent points.

<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

Variable spreads, and the ability to trade inside that spread. Sweet. I think that’s Coesfx.

I’m not sure about MB.

<o></o>

But jswanson, you were with Coesfx right? What was wrong there? I remember reading something you wrote that made you disgruntled with them.
  • #40
  • Aug 10, 2006 8:04am Aug 10, 2006 8:04am
i didn't say fixed spreads was not a bucket shop and i didn't say that spreads don't widen at news on ECN platforms. man. if you want my experience and advice; listen.
not all fixed spread brokers are bad. i'm not going to tell you where i'm getting execution because i don't want another oanda to happen. Spreads are likely to widen ahead of news, but like i said they don't stay wide in the range of 8 pips on the eur ever. you just don't see that. get a currenex platform and tell me what you see. EUR is always 0-1 pips spread and GBP is always -1 to 3 pips and mostly 2 pips. GBP is an inverse spread once per hour usually. Tell me i'm speculating again.
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