Does anyone here use Oanda?

Discussions about trading the Forex markets.
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LeviF
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Does anyone here use Oanda?

Post by LeviF »

What do you do to keep wide spreads at nights and weekends from executing stop orders prematurely?
Last edited by LeviF on Mon Apr 07, 2008 1:42 pm, edited 1 time in total.
gunter
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Post by gunter »

The widening spread does not really affect me as my stops are far enough away. I do not trade any of the exotics and they tend to have much wider spreads.

Sometimes my stops do get hit due to the widening of the spread. I accept it as part of doing business with Oanda. This has not really affected me as much as I feared at first, as a further stop-loss would in most cases also be hit whenever the markets move against me.

Cheers

Gunter
orange
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I like Oanda!

Post by orange »

Hi levijean,

During news and weekends, I will widen my stops in line with the increase in spread.

There will be weekends when spreads will jump beyond expectation and trigger my stops prematurely. (Most likely accompanied by slippage!)* An example will be the weekend following the date of your opening post.

It is comforting to know from the free Oanda's historical prices that at least since 1 January 2004, the probability of such occurances x probability of me having trades on x probability of my stops being triggered is low and the consequences bearable. :P


Regards,
Feng


* Fast moving market in slow weekend
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