Anyone Trading Oanda?

Discussions about trading the Forex markets.
FrankWala
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Re: I wonder

Post by FrankWala » Thu Sep 09, 2004 11:08 am

The Oanda, Fxcm & GFTForex seem like bucketshops (my opinion). I like Refco, but they have a alliance (same back-end) with one of the above 3). After checking out all three, I found prices to be different, and they will take my stop price.... even when there was no trading at that price.

I take prices from Forex on GbpUsd or EurUsd , and put the trade on the Chicago future BP U04, EC U04 (TS symbols). The spread between the future and the forex is nearly constant and the risk I am willing to take. Also bid-ask spread is narrow. and volume in daytime is high.

Can you expand on 'trade the interdealer market'. What are the mechanics. Thanks.

Frank, San Diego
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[quote="Ghostrider"]I read posts from intelligent sounding people, but I say, trading on owanda or fxcm?? I see these sites as an online casino, if you trade currencies trade the interdealer market. Anything less is unprofessional.

Ghostrider
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bank trading

Post by Ghostrider » Thu Sep 09, 2004 12:46 pm

the interdealer mkt is between banks it's where the owanda's of the world go to leg out of their positions. Open an account at a top tier bank and the markets they make will be the best offered. it's not for everyone but i once thought that some of the folks on this site were bigger traders than they actually are. trading currency futures can be very dangerous, if you must play that game, trade spot and EFP into the future.

:P

MCT
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Post by MCT » Thu Sep 09, 2004 9:44 pm

Hi Ghostrader
trading currency futures can be very dangerous, if you must play that game, trade spot and EFP into the future.
Can you please elaborate? What do you mean dangerous?

Ghostrider
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Post by Ghostrider » Wed Sep 15, 2004 11:37 am

Nice catch.
Trading currency futures has a higher risk than trading spot and forwards.

:P

josbarr
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Post by josbarr » Tue Oct 05, 2004 10:12 am

Ghostrider wrote:Nice catch.
Trading currency futures has a higher risk than trading spot and forwards.

:P
You also do not have Debit risk on spot or forwards.

Gherkin
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Post by Gherkin » Tue Aug 12, 2008 11:16 pm

Ghostrider wrote: If you must trade on line there's one way to do it and you get much better fills than with fxcm or anyone else, so shop around and you'll see what I'm seeing, too.
GR
Hi Ghostrider. What do you feel is the best way to trade online? Also, how much capital is required for interbank accounts? Is it possible to trade online with an interbank account? The reason I ask is that like a lot of people, I would rather not tlk to anyone, just trade. So i want to do it all online if possible, but I also want a competitive spread. What do you think is the best option for this online preference?

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