TradeProfits

36 Pips Move in a few Seconds

Posted on 27. Dec, 2009 by Jakob.

1

I am not talking about profit here, unfortunately. Take a look at the two pictures below. The first one is on the 1-minute time frame and the second one is on the 30-minute time frame. Both the pictures are from my Oanda account, earlier this evening. The first move since the holidays was a whipsaw down and back up within a few seconds, in a total range of 36 pips. When you look at it from the 30-minute time frame, it is nothing but one long candlestick shadow. I have seen this in Oanda before; crazy spikes which are not similar on other broker platforms. Hence it seems reasonable to question why this happens on Oandas platform. One might first assume that if this spike is a mistake, your trade (in case you got one running over the weekend), will not be affected by such a spike, but you would be wrong. I have been stopped out by similar movements before. At this moment I have a long trade on the EUR/USD, but luckily for me, my stop loss was further down, so this time I was not affected by this spike, but I am sure some traders out there did. Although I am very satisfied with Oanda, this is one aspect which you might want to take into consideration, before signing up with them. Read more... (226 words, 2 images, estimated 54 secs reading time)

This is a preview of 36 Pips Move in a few Seconds. Read the full post (226 words, 2 images, estimated 54 secs reading time)

Continue Reading

FXIntel.com – Compare Broker Spreads Live

Posted on 24. Nov, 2009 by Jakob.

0

FxIntel is a new site which lets you compare several different spreads from various brokers. The data can be tracked in real time, or you can look at the minute, hourly or daily average if you prefer. The great thing about this is that most brokers’ state “spread from”; this is at times very misleading, as the majority of brokers tend to increase spreads tremendously around fundamental news releases. One example is Oanda and their 0.9 pip spread on the EUR/USD; around news releases, the spread on EUR/USD is often increased to some 10 pips or more. Now you check it out, without the need to sign up with a broker first, and then get disappointed afterwards. The best (lowest) spread on FxIntel is highlighted in green, so you can easily get an overview. FxIntel currently tracks 13 different brokers, and the site is still in beta. My guess is that they will add more brokers in the upcoming days. Obviously you need to be aware that spreads is not the only aspect which you need to take into consideration when choosing a broker. The forex industry is stuffed with scammers, and new brokers come and go all the time. Proper due diligence is needed before you throw money into an account balance. Check out FxIntel here and rate the site below the comment field.

Permanent link to this post (226 words, estimated 54 secs reading time)

Continue Reading

Forex Brokers Ranking

Posted on 10. Jul, 2009 by Jakob.

2

I recently stumbled upon a rather new site called 100 Forex Brokers. The design of the page is in many ways similar to the other top 100 financial sites, namely: Top 100 Forex, Top 100 Finance and Top 100 Investment. In spite of a somewhat lacking design, the page has some cool features. As you can tell from the name, this is a page about Forex brokers; Different brokers have been reviewed and rated, but more important is the front page, where there are several different listings such as: Read more... (228 words, estimated 55 secs reading time)

This is a preview of Forex Brokers Ranking. Read the full post (228 words, estimated 55 secs reading time)

Continue Reading

Trading forex with Oanda

Posted on 26. Dec, 2008 by Jakob.

2

Choosing a forex broker can be a difficult task. I was very confused back when I started trading, and it took me a while before I finally chose to go with Oanda. I have been with them ever since, and I am very pleased with their service. However, it is not perfect, specially not if you are a news trader. Most of the time, their spread are very fair, probably even some of the best out there, specially on major pairs. But a few seconds before and after news, the spreads increases to extreme heights. This goes both major pairs as well as exotics. Furthermore, taking advantage of spike trading is very difficult due to often high volatility, hence difficult to get filled. I tried to do some spike and news trading a few month ago, but I didn’t feel good about this trading method, and decided to use different strategies, hence no problem in using Oanda. But if spike trading is your choice, you should look for another broker. Read more... (351 words, estimated 1:24 mins reading time)

This is a preview of Trading forex with Oanda. Read the full post (351 words, estimated 1:24 mins reading time)