OANDA Forex Forum

A history of transparency

OANDA hosts one of the longest-standing forex forums on the web. Since June 2000, our forum has given forex traders a vehicle for sharing views, airing grievances, and learning from each other. Membership in the OANDA Forex Forum comes with searchable access to diverse topic threads dating back to the very first forex forum posts.

Join in on the discussion with fellow OANDA traders by signing in with your existing fxTrade or fxTrade Practice account. If you don’t already have a forex trading account with OANDA, you can begin by registering for one today.


#1 Oct. 31, 2008 16:42:00

wheel_of_fire
Member
Member #12094
From: North American Union
Registered: 2007-03-16
Posts: 948
Reputation: +  0  -
Profile  

Tight stops and the tragedy of the spread

Silver long, approximately 5000 pips profit. Weekend spread kicks in on a dip that wasn't anywhere near my stop. Stop got tripped. Maybe I got away with 1800 pips.

Argh! Anybody have links to trading the exchanges rather than more of this crazy spread stuff?


Laws are for people with no friends.
http://edgeofcivilization.com

Offline

#2 Oct. 31, 2008 16:57:00

Steve Brown
Member
Member #12345
From: NJ, USA
Registered: 2007-04-17
Posts: 1033
Reputation: +  0  -
Profile  

Tight stops and the tragedy of the spread

quote:
Originally posted by Wheel of Fire:
Silver long, approximately 5000 pips profit. Weekend spread kicks in on a dip that wasn't anywhere near my stop. Stop got tripped. Maybe I got away with 1800 pips.

Argh! Anybody have links to trading the exchanges rather than more of this crazy spread stuff?

Check your stock brokerage account, if you have one. E-Trade offers futures contracts on various commodities, including metals. The mini silver contract is for 2500 troy ounces.

[ October 31, 2008, 04:58 PM: Message edited by: Steve Brown ]

Offline

#3 Oct. 31, 2008 18:08:00

Bushbuck
Member
Member #12192
From: Where You Want to Be!
Registered: 2007-03-28
Posts: 1104
Reputation: +  0  -
Profile  

Tight stops and the tragedy of the spread

Sorry WoF, but my coffee went up my nose when I read this just now.

Hells teeth, given all the advice you've been passing around lately you should know better than to be caught by a weekend.

They happen every Friday, except Easter when it starts on Thursday...

Ahh schardenfreuder, works every time [Big Grin]


Of course, I could be wrong; so don't follow my advice unless you're prepared to lose your shirt, trousers, car, house, partner and children...

Offline

#4 Oct. 31, 2008 18:20:00

wheel_of_fire
Member
Member #12094
From: North American Union
Registered: 2007-03-16
Posts: 948
Reputation: +  0  -
Profile  

Tight stops and the tragedy of the spread

I agree that I should have bailed with 5900 pips and a 600 pip spread. I disagree that I've given advice. I chat with people on this forum.

The problem with advice is that the wise don't need it and the fools don't heed it. [Smile]


Laws are for people with no friends.
http://edgeofcivilization.com

Offline

#5 Oct. 31, 2008 19:00:00

Bushbuck
Member
Member #12192
From: Where You Want to Be!
Registered: 2007-03-28
Posts: 1104
Reputation: +  0  -
Profile  

Tight stops and the tragedy of the spread

quote:
Originally posted by Wheel of Fire:
The problem with advice is that the wise don't need it and the fools don't heed it.

My error, sorry, should have said "opinions" or possibly "comments".

However, regarding your proverb above I'd guess that a hell of a lot of American (potential) homebuyers took a lot of professional advice and heeded it in the last decade.

So maybe the wise think it's sin and the fools drink it in [Wink]

(no religious undertone just trying for a rhyme [Big Grin] )


Of course, I could be wrong; so don't follow my advice unless you're prepared to lose your shirt, trousers, car, house, partner and children...

Offline

#6 Oct. 31, 2008 19:31:00

jvaustintx
Member
Member #15510
From: Austin, TX
Registered: 2008-07-13
Posts: 651
Reputation: +  0  -
Profile  

Tight stops and the tragedy of the spread

quote:
Originally posted by Bushbuck:


However, regarding your proverb above I'd guess that a hell of a lot of American (potential) homebuyers took a lot of professional advice and heeded it in the last decade.


that is one of the reasons i quit doing RE. buyers wanted more than they could afford and sellers thought their properties were were worth gold. a lot of new home sales added to the problem by offering buyers ballooning payments but only qualifying them for the initial low mortgage payment.

it was a big mess, that is why i prefer the insanity of fx. [Big Grin]

so then, i guess it's better to lose a few, er, um, thousand pips than lose your home but i am sorry for your loss.

[ October 31, 2008, 07:33 PM: Message edited by: jvaustintx ]


HOOK 'EM HORNS!!!!

Offline

#7 Oct. 31, 2008 19:45:00

crzyquadrdr
Member
Member #16007
Registered: 2008-09-27
Posts: 122
Reputation: +  0  -
Profile  

Tight stops and the tragedy of the spread

maybe OANDA is getting greedy. Greed indeed will bring you down.


I don't think...that's my problem

Offline

#8 Oct. 31, 2008 21:19:00

wheel_of_fire
Member
Member #12094
From: North American Union
Registered: 2007-03-16
Posts: 948
Reputation: +  0  -
Profile  

Tight stops and the tragedy of the spread

Jvaustintx, it was profit but it was a nice, memorable example of how "the spread cuts into your profits."

Trading extreme volatility instruments like xag, xau, zar require stops but the spread forces them to a dangerous distance. Bushbuck was absolutely right in implying that I should have known better than to play so close to a known spread widening moment. Honestly didn't think it would happen at 4:15 p.m. EST but now I know.

Here's where I think the high spreads fail for Oanda:

Only long term traders stay in. Short and medium term are gone. That means a lower aggregate of spread collection. I'm actually pleased with the knocks I'm taking because they aren't lethal mistakes.

I'll take a profitable stop and make adjustments for Monday. [Smile]


Laws are for people with no friends.
http://edgeofcivilization.com

Offline

#9 Nov. 1, 2008 05:43:00

Sequitor
Member
Member #5645
From: 37°33'24"N 79°04'51&quo
Registered: 2005-04-18
Posts: 2083
Reputation: +  0  -
Profile  

Tight stops and the tragedy of the spread

quote:
Originally posted by Wheel of Fire:
Here's where I think the high spreads fail for Oanda:

Only long term traders stay in. Short and medium term are gone. That means a lower aggregate of spread collection.

The high spreads in interest rates (introduced 31 Oct) will have a similar effect on long term traders. If short, medium and long term traders are gone, what's left?


Be careful of something that's just what you want it to be. Waylon Jennings
The more we want it to be true, the more careful we have to be. Carl Sagan

Offline

#10 Nov. 1, 2008 10:02:00

Karlo
Member
Member #9026
From: Behind 2 eyeballs @@
Registered: 2006-06-29
Posts: 2827
Reputation: +  1  -
Profile  

Tight stops and the tragedy of the spread

The Oanda spreads I have seen over the past couple of weeks have me annoyed too.


Successful FOREX gambling is 50% luck and 50% skill. Don't ever forget that you can lose it all, no matter how skilled you are. Only trade interest positive, regardless of what others tell you. Balance increasing since Dec 17, 2008.

Offline

Board footer

Moderator control

Powered by DjangoBB

Loading nanoRep