Is it possible, with some of the systems out there, to place multiple orders of the same currency pairs for both long and short term?
I currently use forex.com, tho I am not entirely thrilled with their charting software. Unfortunately it is impossible, from what I see, to take a long position (for say a week or more) and also do short interday trades on the 15- 30 min charts without losing the positions held in my long lots.
IOW, it combines all my positions as I buy/sell no matter what.
Is there a system that allows for both long and short trading?
I know Oanda doesn't allow you to do it either. Both postions are closed out trying to go long and short at the same time. I know from being whipsawed trying trade news announements I know a lot of people just trade the correlations which moce almost exaclty opposite each other.
I am not entirely sure but I am pretty sure Oanda does allow this. You just have to open a sub account with them or something. I am not quite sure how it works. A buddy of mine does do bi-directional trading through Oanda. Ill get in touch with him and see what he has to say. I think it may of already been discussed on the forums. I will research the topic further and get back to you.
Ok I looked into a little and yeah. With Oanda you should be able to do it. Just need a primary account and a secondary account. However, if you take a trade in the opposite direction you need to come up with the margin. However, it seems the you can do the same thing with fxsol. However, apparently you do not need to come up with the margin. There are a handful of brokers that allow you to take opposite position (which I refer to as bidirectional trading). Please realize I am not endorsing one broker over another just telling you what I think is possible. However, I have no personal experience with bidirectional trading.
Last edited by swordofrue; 12-20-2006 at 09:01 PM.
Reason: needed to add some info