Register File Sharing Journals Chat Room FAQ Calendar Mark Forums Read

Advertisement







Search Forums
 
» Advanced Search

Reply
 
Thread Tools Display Modes
Old 06-04-2007, 15:48   #17
golhuntsleep
level 2
 
golhuntsleep's Avatar
 
Join Date: May 2006
Posts: 573
Downloads: 0
Uploads: 0
Rep Power: 3golhuntsleep is on a distinguished road
Re: Oanda just another bucket shop

You're supposed to trade the NFP????? reallly??? I thought it was the tar pit for inexperienced traders the deep pockets use to get thier money.....
golhuntsleep is offline   Reply With Quote
Old 06-04-2007, 15:51   #18
MickMason
Fibonacci KISS trader!
 
MickMason's Avatar
 
Join Date: Apr 2004
Posts: 3,790
Downloads: 0
Uploads: 0
Rep Power: 0MickMason is an unknown quantity at this point
Re: Oanda just another bucket shop

Quote:
Originally Posted by TRADE
Oanda is not the problem really, it is ourselves.

In most instances that is quite true, people who blame their broker for losses are usually at fault themselves. But we're not talking about loss or gain here, we're talking about a broker's tricks and the excuses he gives to those who know no better.

I've been around these markets for the best part of 12 years now, I've seen quite a bit in that time. I've experienced good brokers, bad brokers, and downright thieving brokers.

There's nothing wrong with trading fundamentals, especially when it's a no-brainer like today's NFP. Here's the comparison, Oanda's platform froze, then lost connection, then connected, then disconnected again. That sequence happens every NFP. Isolated it might not be significant, but put that together with all the other stuff that's going on and you get a different picture. In contrast, CMC's platform was stable, requotes were quick, and orders were filled.

Whether we would survive in the 'real' market is debatable, the thing is this isn't the real market, we're getting sugar-coated price feeds and fills. Everyone can make money, trader and marketmaker, there's no need for companies like Oanda to play tricks like this, they're pissing in our ear and telling us it's raining, there's no need for it.
MickMason is offline   Reply With Quote
Old 06-04-2007, 15:58   #19
MickMason
Fibonacci KISS trader!
 
MickMason's Avatar
 
Join Date: Apr 2004
Posts: 3,790
Downloads: 0
Uploads: 0
Rep Power: 0MickMason is an unknown quantity at this point
Re: Oanda just another bucket shop

Quote:
Originally Posted by golhuntsleep
You're supposed to trade the NFP????? reallly??? I thought it was the tar pit for inexperienced traders the deep pockets use to get thier money.....

Sure trade it, but you need a 400:1 broker

No seriously, why ever shouldn't you be able to trade data? I'm no economist but really, some data releases are just a no-brainer. Fundamentals can be big market movers, why exclude yourself from moves like that?

Everyone seems scared to trade data, why?
MickMason is offline   Reply With Quote
Old 06-04-2007, 16:07   #20
static
level 1
 
static's Avatar
 
Join Date: Nov 2006
Posts: 40
Downloads: 0
Uploads: 0
Rep Power: 2static is on a distinguished road
Re: Oanda just another bucket shop

Because they don't understand it, myself included.
static is offline   Reply With Quote
Old 06-04-2007, 16:13   #21
MickMason
Fibonacci KISS trader!
 
MickMason's Avatar
 
Join Date: Apr 2004
Posts: 3,790
Downloads: 0
Uploads: 0
Rep Power: 0MickMason is an unknown quantity at this point
Re: Oanda just another bucket shop

Quote:
Originally Posted by static
Because they don't understand it, myself included.

That's sensible, but it doesn't mean other traders shouldn't trade it, or at least have the opportunity to trade it.

Do you not follow fundamentals at all, are you purely a technical trader?
MickMason is offline   Reply With Quote
Old 06-04-2007, 16:24   #22
static
level 1
 
static's Avatar
 
Join Date: Nov 2006
Posts: 40
Downloads: 0
Uploads: 0
Rep Power: 2static is on a distinguished road
Re: Oanda just another bucket shop

No I totally agree with you, its just that fundamentals don't go along with the click-the-mouse and end up with a billion dollars overnight image that attracts most people to trading this market (again, myself included).

I started out demo trading a few years ago and though I had it all figured out so I opened a real money account last year and was *shocked*, as I'm sure you will all be, to find out that I did not. Anyway trading is something that I do while I go to school so I don't have time to really sit down and analyze the fundamentals as this semester has been pretty hellish. I would like to incoporate them at some point, but this is not the time.

So, long story short I am a 100% technical trader.
static is offline   Reply With Quote
Old 06-04-2007, 16:43   #23
MickMason
Fibonacci KISS trader!
 
MickMason's Avatar
 
Join Date: Apr 2004
Posts: 3,790
Downloads: 0
Uploads: 0
Rep Power: 0MickMason is an unknown quantity at this point
Re: Oanda just another bucket shop

100% technical, it's good that you recognize your strengths and weaknesses and are not tempted by a fast buck, I believe that's where some people go wrong not just with news trading but with trading in general.

You're at school, that's cool, I'm stuck with trading so have plenty of time to watch boring analysts on Bloomberg crunching data, I think I'd rather be at school to be honest
MickMason is offline   Reply With Quote
Old 06-04-2007, 19:04   #24
golhuntsleep
level 2
 
golhuntsleep's Avatar
 
Join Date: May 2006
Posts: 573
Downloads: 0
Uploads: 0
Rep Power: 3golhuntsleep is on a distinguished road
Re: Oanda just another bucket shop

I trade NFP..only when it breaks a long term technical barrier......I try to stay away from any "spikey" market.....and trading mostly long term and swing...I'm usually already in a trade or two when NFP or ISM etc are released......
golhuntsleep is offline   Reply With Quote
Reply


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump