I keep saying it, but you guys have just got to get a new broker! It should not be a case of you having to delete pairs! It should be a case of you being confident to trade any pair you want to! That is simply daylight robbery! You should be able to trade GBPNZD and GBPAUD etc without worrying about spreads even going up to 10 pips let alone 100! That’s unheard of in 2013! No one can make money with that going on. It would simply make it impossible. You got to get a new broker. It really is that simple. You can’t have you broker taking you out of the game like that. Could you imagine if you had 5,6,7,8,9k on the trade?
It worries me that you had this problem because I use oanda too… i have not felt such a problem until now (probably because acc to my trading plan i dont start a trade on fridays and would not usually hold trades over a weekend if i am in considerable profit or atleast have not moved stoploss to breakeven). It worries me enough to consider checking out other brokers.
It missed by two pips at my terminal so it was an easy pass. I was waiting at that level for some time. In retrospect, being strict has its advantages.
Yes, but I don’t think this would be better with some other broker, the described situation is immediately after Sunday market open, during day is the spread around that 10 pips, but again, at night, spread naturally widens and when we enter through stop orders (especially at daily), it often triggers at night during Asia session, when spreads are much wider and these pairs usually have 10+, GBP pairs 20+. So I’m not sure whether broker change would help, I consider Oanda as one of more serious brokers out there, but I may be wrong.
Which broker do you recommend then?
Oanda used to be good. I’ve been with them for many years, recently they have turn “evil”. Charging rollover on some pairs when other brokers are paying and spike to trigger trade or SL. They have a daily spike at NY close. They call it low volatility period. That is when most SL are hit.
I am not sure which broker you use but I am looking at the spread of about 10 of the more well known STP/ECN brokers and the lowest spread on GBP/NZD currently is 4.35 and that is at 10am CEST Germany. Not exactly the quiet Asian session which would even have a larger spread than this.
Here is a link of the spreads if anyone is interested. Most of the brokers listed are NY close charts.
Just recived an email from ltg goldrock in australia,he is talking about the biggest currency event of the year in 4 hours .Anyone knows about it as well or just b/s?
US CPI data due at 13:30 - not sure why its any more important than NFP or last months figures
[QUOTE=“hytten;509771”]
Oanda used to be good. I’ve been with them for many years, recently they have turn “evil”. Charging rollover on some pairs when other brokers are paying and spike to trigger trade or SL. They have a daily spike at NY close. They call it low volatility period. That is when most SL are hit.[/QUOTE]
I requested withdrawal all of my money from Oanda last night. I had open sell position on AUDNZD when about 18:46 NY time SL hit. And the reason for that was spread widening not up 5 or 10 BUT guess how many? 60 pips spread!
Hey guys,
a lot of choppy and quiet pairs at the moment…
I know a few of you go into the GBPCHF pin that has now shot lower. I gave that one a miss just because of how choppy it has been, but it was a valid pin at resistance all the same and has come off nicely for those that jumped aboard. Soon after the pin it formed a BEEB and pumped lower.
As I said a lot of pairs moving sideways and whilst I have a lot of charts marked up I am more waiting for price to move into key levels on a lot of pairs at this stage such as the EURUSD moving higher into key resistance.
GBPCHF 4hr Chart
EURUSD DAILY CHART
Johnathon
CADCHF H4 chart, forming a pin bar rejecting the resistance.
USDCAD D1 , forming a 2 bar reversal, will catch up with the temporary downtrend of previous.
USDCHF Weekly, I focus the most on this one, it coming to break through the support under the BEEB, will get into trade once it break through.
Lastly will be EURUSD , as Johnathon mentioned.
Hi Johnathon,
How should we manage the trade of breaking through support/resistance? Is it mean that for Daily chart, if the price capable of close above the support/resistance area, then we set our trade on the high/low of that candle?
For weekly, we need to wait the weekly bar to close then just set a trade?
Hi, the PB on CHF/JPY H4, is it a good trade?
[QUOTE=“sarbualex;509976”]Hi, the PB on CHF/JPY H4, is it a good trade?[/QUOTE]
Can you post a picture of the chart with your thoughts?
[QUOTE=“sarbualex;509989”]<img src=“301 Moved Permanently”/>
Sry for the delay.[/QUOTE]
Can you tell me what your thoughts are on it? I don’t see a trade there
Hi!
In my (newbie) opinion the pinbar you are referring to is to small compared to the previous large upcandles. The momentum is definitely on the buyers side.
So i wouldn´t take this trade and waiting for a better PA (e.g. a LARGE BEEB or a PB sticking out more obvious ).
Best regards!
A PB formed at a resistance area and i wanted to go short.
Why isn’t a good trade?