OANDA Discussion

Ooops... my mistake. Yes, they did indeed cleverly change one letter in their name! That is what threw me off. They need to get a name that is not so closely associated with the name of another broker. It can easily cause confusion as it did with me.

pipmaster77, thanks for the advice. The last time I traded with FX Choice was before their merger with Forex Broker Inc. (I still have an account with FX Choice but I have no money in that account at the moment). I will take your advice and strongly consider Trader's Way and Finpro Trading, once I begin trading with real money again.

Hi everyone,


I realized that my transaction history in Oanda MT4 Terminal is being truncated to only 3 months.

Anyone has the same experience?

Thanks.

The disadvantage of “proper” futures contracts is lack of history. Makes it very difficult for me to organize a long term trading plan without it. One would need to stick the timeseries together somehow making a synthetic instrument or use data from Oanda and trade on the real market...
Cheers,
k

d
The best thing about OANDA is that it has a benefit I've never read anywhere.
With OANDA, you can trade units. You can trade 100 units, which equal 1 USD cent. A penny. Which also means you can trade 1 unit. 1000 units each pip is a dime, etc. Or, another way, one can trade odd numbers of units with low $$$ risk.

How can you make any money trading a .001 of a cent? Of course, you can't.

But I read a lot of people failing at FOREX. And compelled to keep trading. I am one of those. But, I found a way to keep my hope alive, to stay in the game and keep learning.

I have stayed in the game with OANDA with as little as $9.00 in my account. Because making money became a useless thought when I kept losing. Making money became a dream. Then logic dictates (love throwing in Trek lines) that the problem is in me and my choices in trading. A story for another day.

I don't believe in demo accounts. Having used demos, then moving to live, I saw difference. Just a change in spreads, fill power, accuracy, a change in how things flowed, nothing big, just not quite the same. Like having a cold; you still work but at a different pace. Besides, my strength in trading is seeing patterns. And it also made sense to me that brokers would not allocate the same resources to demo accounts as they would live accounts. Hence, broker's live account is better than it's demo. More computing power.

It then occurred to me, bec. OANDA trades can be any percentage of a penny, that if I traded half pennies, or quarter pennies, I would still be in the game and have the computing power, and still set goals, charts, strategies, work on all my emotional issues with trading, still trading live, all without the pressure of money.

If you're losing, it's bec something is wrong somewhere with you're strategy, timing, money management, emotions, something you can't identify. So, it really isn't about making money at that point. It's about making good trades. I know if I make good trades, I will make money. That simple.

So, I worked at my strategy, style, how my thinking interfered, everything. And I traded live by trading percentages of pennies. I scalp and not looking for a lot per trade. I average 4 pips a trade. I also know, with proper patience, I can net 4-6 winning trades in my trading session. That is an average of 25 pips a day. But my winning percentage is 60-70%. Today was an unusual day I admit. Now, I've been trading a long time with a lot of failure. I do not claim I'm making any money. But between Wednesday and Friday, with careful work, I hit 26 trades in a row, all averaging 4 pips. Again, quite exceptional and a couple of lucky ones.

Experience and mentors said if you are successful, there is an obligation to pay it forward. And I also learned a long time ago, if you lie about your success or failure to your fellow traders, you're a loser. So, I don't care if you don't believe me. One person will get it and that's my purpose.

So, use OANDA, put $20, $30 in the account and practice your work. Trade pennies, half pennies, hell, I've traded with a tenth of a penny, just to make a live trade. That trade hit 10 pips.

I hope to be profitable one day. When I am, I'll post it in these forums. But trading micro amounts helps to stay in the game and work at the craft. Hope for the best, prepare for the worst.

Totally agree

So do I.

Nice Post. But what fascinates me more is that you've been a member here for almost 11 years and all you have is only 5 posts? I thought I had a relatively small number of posts for all the years I've been a member (almost 12 years), but your small number blows away my small number. lol.

What is the difference between Oanda-GMT-5 and Oanda+2 servers please? Basically, I live in the UK and I want the Oanda account (if such exist) that allows hedging and does not implement FIFO. Thanks

Mine is OANDA v20LIVE and allows hedging and no FIFO. I Live in southAmerica, I think the restriction applies to US based accounts. Hope it helps

Sls

Thank you!

Even in the US you can still hedge. Oanda allows up to 19 sub accounts so hedging isn't a problem. In addition, at least for me, FIFO isn't an issue. I just open different position sizes so FIFO doesn't apply.

Can't login to live and demo account at Oanda. Does anyone know if the platforms are down?

mvlad, I read your reply. You are correct that my satisfaction with Oanda does not mean that they don't make errors elsewhere. I came on rather strongly because I read so many comments of people who are trashing their brokers endlessly, while they also telegraph through their wording that perhaps they are not looking at the situation objectively, or from an integrated point of view.

I don't like FIFO, widening spreads or the "dynamic spread" as Oanda calls it, and other such annoyances. I don't like the charges that they levy on withdrawal of funds, which are simply a computer entry, or the limitations that they place on how to withdraw your own money. But we are at the mercy of licensed, Government sanctioned thieves like banks, on all money matters, so what can we do?

But I like entering trades in Oanda's basic platform, access to MT4 and "Advanced Charting" for charting, the ability to use Heiken-Ashi and Renko charting without having to subscribe to some "self appointed" YouTube guru's special program for a fee. I like having non-ending Practice accounts to keep my trading skills sharp. If you know of other brokers that offer equal or better platforms, I would like to know of them, keeping in mind that companies such as Purple and others cannot accept US residents.

One would think that someone who has been with Oanda since 2009 would, by now, have more complaints to air, wouldn't you? But I find that going directly to Oanda with a problem gets a better result, rather trashing them on this blog.

For some reason I cant get anyone on the phone over there for support. I got a chance to live chat with one of their reps online after a 10 min wait and I asked him why I couldn't get anyone on the phone, and he said they was super busy and apologized.
I'm not really happy with their customer support for that reason. However, I been using them for last than a month so I'm going to stick out and see how it go in the future.

Another thing I notice is their spreads for regular accounts are high at when changing sessions.

I started with FXCM a couple years ago, but they stop serving US clients. I liked FXCM.

hi

any representative from oanda?

is it me only or do everyone feels the current transaction history is unusable and appaling?
it is so annoying i had to drag the bottom of the window to see the far right side of the screen (maybe my pc monitor too small?)
and there is no longer filtering function like it use to have to filter trade/admin etc

and it seems each new version of transaction history just got worst and worst and more unuser friendly than the old one.

i miss the previous 2 or 3 versions of it....where u can click the order number and it pops out to tell you your gain or loss (if i recall correctly)

please fix the stupid history. basic things like this you oanda guys messed up??

and when i click 'old version'...poof...nothing happens...still same new version of history

You are right, it sucks.

Oanda, are you going to add BTC pairs?

Hi zackayat,
i did`t had any difficulties and I`m satisfied with the service.

Hi all, I have been lurking on the forum for over three years since I started my trading journey. Been with Oanda from the very beginning as my colleagues use their exchange rates web page. Just want to share my feedbacks.

Decent broker especially for beginners with flexible trade units, simple and efficient platform for position sizing, good execution for a market maker and no complaints so far on this side. But they are not the cheapest spread wise. I rarely go to the customer service, still not sure who is and if I have a account manager, not the most responsive if you like asking questions. Also their withdrawal limits and fees are restrictive compared to competitions.

I will keep trading with them as they have a wide range of products, highly recommended for beginner and intermediate non scalping traders.

Final words, how comes they still don't have watchlists on fxtrade?