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  • #401
  • Edited 9:41pm Sep 13, 2008 6:35pm | Edited 9:41pm
I have traded w/ Oanda since I started trading and am used to their idiosyncrasies, but I think I am going to have to let them go. I can no longer be confident that the platform will be up during crucial times. I don't give a crap about the increased spreads, but I have reached a level where the platform being unavailable for a 1/2 hour at a time can seriously impact me. I cannot call to open/close a trade as Oanda does not offer this service, even during down times.

I am evaluating hotspotfx and will be making the move as soon as they confirm access via Ninjatrader.
In trading, there is no bullshit. You either make money or you don't.
  • #402
  • Edited Sep 14, 2008 12:42am Sep 13, 2008 6:45pm | Edited Sep 14, 2008 12:42am
The real issue is: Does one have the discipline to trade it sensibly? - or will they blow up?
With a 400:1 margin acct you can trade a 1.2 K acct as if you had 5K in a 100:1 account. Keep 1.2k w/ your broker and the 3.8K in your bank. That is the only reason, IMHO to use a 400:1 Broker leverage.
Once the 1.2K is gone you can congratulate yourself on how smart you were to not trust yourself to be disciplined enough to use proper money management.
Quoting Jurrasic
Exactly. Even 50 to 1 is way too much in most cases. Not meaning to disrespect if I'm wrong, but what kind of an "experienced" trader is that with 400:1 or 200:1 levereage ?! The man actually implies he trades with those other brokers at a leverage where a 25-50 pips move erases his entire account and he does it with their 2 pip euro spreads and more on other pairs ? Sounds pretty bogus to me.
In trading, there is no bullshit. You either make money or you don't.
  • #403
  • Sep 14, 2008 7:55am Sep 14, 2008 7:55am
Quoting mrgreen
The real issue is: Does one have the discipline to trade it sensibly? - or will they blow up?
With a 400:1 margin acct you can trade a 1.2 K acct as if you had 5K in a 100:1 account. Keep 1.2k w/ your broker and the 3.8K in your bank. That is the only reason, IMHO to use a 400:1 Broker leverage.
Once the 1.2K is gone you can congratulate yourself on how smart you were to not trust yourself to be disciplined enough to use proper money management.
what do you mean by "trading sensibly"? What about the so important concepts of margin and free margin in a 1.2k account? what about drawdown? which timeframe would you trade? which the take profit, stop loss? and now tell me, is it worth to trade like this, i mean, can you make Money? If so you guys are great traders, and i mean it.
Fuck Forex Factory
  • #404
  • Sep 14, 2008 8:18am Sep 14, 2008 8:18am
It's not a 1.2K acct - its a 5K acct - just not all the money is deposited w/the broker.
The other questions I leave as an exercise to the reader

Quoting alelualdi
what do you mean by "trading sensibly"? What about the so important concepts of margin and free margin in a 1.2k account? what about drawdown? which timeframe would you trade? which the take profit, stop loss? and now tell me, is it worth to trade like this, i mean, can you make Money? If so you guys are great traders, and i mean it.
In trading, there is no bullshit. You either make money or you don't.
  • #405
  • Sep 15, 2008 12:05pm Sep 15, 2008 12:05pm
Quoting macfan
You have come to a sad realization, that many oanda traders have come to. IMHO: oanda is good for one thing, trading live with pennies until you feel comfortable trading live, then go on to a serious broker. Flexible trade amounts mean little if you can't login or worse when you are logged in with an active trade and the platform goes down. If all anyone ever intends to do is trade a few pennies then it really does not matter but if your goal is to become a good trader that maybe someday you intend to make a living with it then you really need a serious broker.
Yes, this is exactly the realization I have come too.
In trading, there is no bullshit. You either make money or you don't.
  • #406
  • Sep 16, 2008 7:52am Sep 16, 2008 7:52am
Quoting mrgreen
It's not a 1.2K acct - its a 5K acct - just not all the money is deposited w/the broker.
The other questions I leave as an exercise to the reader
green,
if "just not all the money is deposited w/the broker" then is not a 5k account. Am I wrong? The margin you have in the account is what matters form a MM poit of view.
About my other questions I see why you don't reply..... it takes an answer, and you clearly don't have it.
Fuck Forex Factory
  • #407
  • Sep 16, 2008 10:20am Sep 16, 2008 10:20am
You need to wrap your mind around the fact that the money you allot to trading can exist in both a Broker acct AND in your bank acct. Together they equal "your account". Once you can grasp that then the details of draw down, etc are done from the point of view of a sensible acct leverage or less. This is what is meant by "Can one trade it sensibly"
The only thing that matters from an MM point of view is that you have a winning system. The rest is just details.


Quoting alelualdi
green,
if "just not all the money is deposited w/the broker" then is not a 5k account. Am I wrong? The margin you have in the account is what matters form a MM poit of view.
About my other questions I see why you don't reply..... it takes an answer, and you clearly don't have it.
In trading, there is no bullshit. You either make money or you don't.
  • #408
  • Sep 16, 2008 7:51pm Sep 16, 2008 7:51pm
Quoting mrgreen
Yes, this is exactly the realization I have come too.
what about TRT and his friend trading with they?
  • #409
  • Sep 17, 2008 5:06am Sep 17, 2008 5:06am
Hi!

Does anyone know why Oanda has 1.2 for EURUSD all the time?
Is it liquidity?

thx
  • #410
  • Sep 17, 2008 6:31am Sep 17, 2008 6:31am
Quoting mrgreen
You need to wrap your mind around the fact that the money you allot to trading can exist in both a Broker acct AND in your bank acct. Together they equal "your account". Once you can grasp that then the details of draw down, etc are done from the point of view of a sensible acct leverage or less. This is what is meant by "Can one trade it sensibly"
The only thing that matters from an MM point of view is that you have a winning system. The rest is just details.

Thanks for your wise lessone green. Now I can consider myself a Trader!
Fuck Forex Factory
  • #411
  • Sep 18, 2008 11:12pm Sep 18, 2008 11:12pm
wanted to post Oanda's classic stop hunting example. I trade on MBT, but have a small account with Oanda and sometimes throw experimental orders there. In this case MBT never ticked over 107.01, but my stop on Oanda was 107.041. I zoomed in on a 5sec chart so that this stop hunt is better displayed. The funny thing this is the first time I actually noticed it as I never place stops, or maybe it's because I doubled my account with them so now I'm on their radar.
Attached Image (click to enlarge)
Click to Enlarge Name: Oanda Stop Hunting usdjpy.JPG Size: 89 KB
  • #412
  • Sep 18, 2008 11:22pm Sep 18, 2008 11:22pm
for me the best

the grapichs the BEST!!!
  • #413
  • Sep 24, 2008 9:35am Sep 24, 2008 9:35am
I'm playing with oanda just to see how honest they are. I guess times are tough for them now as I see them hunting like that every day. In this case, the price never even hit the SL. I'm not even talking about them modifying the price to hit my SL, but flat out eliminating my SL w/o the spike.
Attached Image
  • #414
  • Sep 24, 2008 9:41am Sep 24, 2008 9:41am
Quoting fiberangel
I'm playing with oanda just to see how honest they are. I guess times are tough for them now as I see them hunting like that every day. In this case, the price never even hit the SL. I'm not even talking about them modifying the price to hit my SL, but flat out eliminating my SL w/o the spike.
If that was a long position that got stopped out it looks about right. Read the fkn manual.
  • #415
  • Sep 24, 2008 1:03pm Sep 24, 2008 1:03pm
Quoting shrike
If that was a long position that got stopped out it looks about right. Read the fkn manual.
MBT never hit 155.10 as I was watching it.
  • #416
  • Sep 24, 2008 1:11pm Sep 24, 2008 1:11pm
Quoting fiberangel
MBT never hit 155.10 as I was watching it.
Oanda neither. It was just the bid price who reached 155.10. Oanda displays always the mid price...

BTW: Prices can be different for different market makers. It's just an OTC market.
  • #417
  • Sep 25, 2008 12:23pm Sep 25, 2008 12:23pm
  •  tazmet
  • | Joined Jun 2007 | Status: Gold Member - Solid Gold Baby! | 47 Posts
Hi. I really like Oanda and don't want to switch to another broker. However, given the current US financial situation, I don't feel comfortable keeping my money in an account with no protection. Oanda has no protection in the event of bankruptcy and no insurance for investors.

Do you have a source where one can view Oanda's financials or where one might see warning signs of any trouble?

thanks.
My business model Get pips => Keep Pips => Repeat
  • #418
  • Sep 25, 2008 3:35pm Sep 25, 2008 3:35pm
Quoting tazmet
Hi. I really like Oanda and don't want to switch to another broker. However, given the current US financial situation, I don't feel comfortable keeping my money in an account with no protection. Oanda has no protection in the event of bankruptcy and no insurance for investors.

Do you have a source where one can view Oanda's financials or where one might see warning signs of any trouble?

thanks.
www.cftc.gov

Look for market reports. Then, click on the "Financial Data for FCM".

It's not the most up to date financial data, but it gives you some general idea where they stand at.
"Even the word impossible says that I M possible"
  • #419
  • Sep 26, 2008 12:06am Sep 26, 2008 12:06am
  •  tazmet
  • | Joined Jun 2007 | Status: Gold Member - Solid Gold Baby! | 47 Posts
Thanks. But it's not enough is it. Looking at the report, Lehman Brothers looked like it had tons of money with some 3.8 billion in adjusted net capital. Of course, we all know what happened to them - bankrupt with more than 613 billion in debt.
My business model Get pips => Keep Pips => Repeat
  • #420
  • Sep 26, 2008 3:12am Sep 26, 2008 3:12am
Quoting fiberangel
maybe it's because I doubled my account with them so now I'm on their radar.
Why? They are more than happy when you doubled your account because this means more $$$ for them.
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