DislikedJust to mention, due to power/internet outage last week, my two winning trades at Oanda have turned into loss. After two emails to the support, they have more than compensated the potential win of the trade. After staying with them for a year and a half, I am still convinced that Oanda is the way to when you just want to invest little money and play with very small amounts. For bigger sums there are other options, like Dukascopy and others. But when you just want to play with 50 bucks to see if this game is for you? Go with Oanda. kIgnored
- #4,543
- Edited 8:55am Oct 14, 2015 8:01am | Edited 8:55am
@Olsen-Yersen: Limit orders are of no use if the spread pattern is like this in XAUUSD today:
Compare this spread-bonanza above with the spreads from $OTHERBROKER during the same period in the same pair:
Or the most gappy $OTHERBROKER I've encountered:
This spreadrobbing pattern is unique to Oanda.
If you had a stoploss on a long trade sitting at 1162 it would have been ripped and the next price to get in again would have been 200 pips higher.
If you had a long limit order sitting at 1163.5 it would have never been triggered.
And: As this spread-robbing of Oanda is only during a few seconds they might well print the average spread over a minute on their site not indicating that the damage is done on a triggered stoploss *and* on a market order which does not get the best price.
Compare this spread-bonanza above with the spreads from $OTHERBROKER during the same period in the same pair:
Or the most gappy $OTHERBROKER I've encountered:
This spreadrobbing pattern is unique to Oanda.
If you had a stoploss on a long trade sitting at 1162 it would have been ripped and the next price to get in again would have been 200 pips higher.
If you had a long limit order sitting at 1163.5 it would have never been triggered.
And: As this spread-robbing of Oanda is only during a few seconds they might well print the average spread over a minute on their site not indicating that the damage is done on a triggered stoploss *and* on a market order which does not get the best price.
- #4,545
- Oct 14, 2015 8:39am Oct 14, 2015 8:39am
The spread during news events is verry bad...you get stopped out even if your direction is right.
At 14:18 Europe/Berlin, from when the example was taken, there was no news. Just some stoploss robbery.
The price action from the 14:30 news event was like this:
- #4,554
- Oct 15, 2015 4:53am Oct 15, 2015 4:53am
{quote} Naddmer, You're probably looking for the REST API which is free and easy to get started using (mostly automatic setup via the website), though you can compare and see what makes sense for you. The REST API may have a reference project already created (by fellow devs) in Java. ... http://developer.oanda.com/rest-live/api-comparison/
thanks a lot for the link.
On the "Sample Code" section of the link above there's exactly that kind of quickstart I was looking for. :-)
Even a reference implemention of streaming quotes in PERL is in their GIThub repo. Great!
Then I went to generate my access token and my notorious habit of reading the License agreements all too often made my day.
This is a reminiscense of my days working as a DBA on an Orrible-Database and it did not take long for to get some good laughs... :-D
"Piphunting" is an "Unauthorized Activity"? So when one uses the API for generating profits then the use of the API is forbidden?
The API is to be used for losing trades only? Interesting!
And this one is cute too:
So when the rates obtained from Oanda discussed publicly damage the reputation of Oanda in the opinion of Oanda, then the public discussion of the rates is a violation of the license agreement. As I intended to discuss the rates of the OA API here, then this would be the violation of the license, if those rates were "under competitive".
As the license defines "Licensed material" as all software, texts and rates obtained from them, this leads to: When a paragraph of the license damages the reputation of Oanda - may I post it here, although I have still not agreed to this license? Have to think of it. :-D
There is no way that I agree to such Kafkaesque sh...ards.
{quote}Check the O&A developer message board for announcements. It's the only O&A api I've used and via a C# reference project. It is fairly intuitive after you get through the initial understanding stage and hair-pulling-out phase (lol).
{quote}I've also found that the metals are not tradeable on this brkr due to large average sp_reads....
Best regards and thanks a lot for the hint to the code.
Naddmr
- #4,555
- Oct 15, 2015 5:43am Oct 15, 2015 5:43am
{quote} Hi FXEZ, thanks a lot for the link. On the "Sample Code" section of the link above there's exactly that kind of quickstart I was looking for. :-) Even a reference implemention of streaming quotes in PERL is in their GIThub repo. Great! Then I went to generate my access token and my notorious habit of reading the License agreements all too often made my day. This is a reminiscense of my days working as a DBA on an Orrible-Database and it did not take long for to get some good laughs... :-D {image} "Piphunting" is an "Unauthorized Activity"?...
Also kudos for highlighting some of the oddities of the terms. I guess there won't be any pip-hunting in my future. Good thing the terms don't mention "pip-banking."
- #4,556
- Edited 9:37am Oct 15, 2015 9:25am | Edited 9:37am
... Not to defend them, but the "Slippage-parameter of OrderSend() in MT4" not honored you are mentioning MAY not be done on purpose. Their MT4 setup is a little "custom". For example, in the past (not sure if it's still the case or not), they weren't respecting the "Magic Number" used by EAs in MT4 either.
according to my memory I've read an posting on the Oanda forum stating this deliberately. The posting dated from 2011 or so.
Unfortunately the only thing which is remaining currently from this is a forum entry on myFXBook where some other trader had exactly the same suspicions about the missing slippage parameter:
http://www.myfxbook.com/community/ex...trader/80632,2
(scroll down to the last post on this page, please)
The link from this posting above is not working any longer:
http://fxtrade.oanda.com/community/f...687;p=9#000128
And in fact you're right, until recently OA did not respect the magic number which lead to some weird solutions using the OrderComment() - which did not work either, because the OrderComment gets changed during a partial close.
Oh - and by the way: Aren't they cute? :-)
Note that the news is already 12 minutes over and the spread (darkblue/violet) up to this price action was pretty much in the bounds of $OTHERBROKER
Similar story three minutes later:
Note that there were no ticks for more than 6000 milliseconds from OA and then the sudden slippage one tick later.
Also note the lag of about 1000 milliseconds of the downspike.
Oh - and one other thing:
(Source: http://www.metatrader5.com/en/termin...xecution_types )
