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Does anyone here use Oanda?
Posted: Mon Apr 07, 2008 12:36 pm
What do you do to keep wide spreads at nights and weekends from executing stop orders prematurely?
Posted: Mon Apr 07, 2008 1:29 pm
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.
I like Oanda!
Posted: Tue Jun 10, 2008 7:37 am
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.
* Fast moving market in slow weekend