How I lost 200 pips stupidly as newbie at Oanda

Beginner Questions
1

In every of these trades I was in profit as scalper but:

I lost about 100 pips because they said anywhere that the spread would widen to 10 points on Friday even before dow jones close.

I lost about 100 pips because of their profit target system which calculate a losing buy price when you are short and profitable that is completely silly !

So newbies beware :slight_smile:

Happily I don’t trust these brokers so I’m trying them on small real account but if it was a real account of 10000$ I would have lost hundreds of dollars !

2

Correction:

You lost 200 pips because you exited your trade 200 pips in the opposite direction of your trade.

3

Touche.

Though, given the current climate, forexgenuine is our resident whiner.

4

LOL!

But the current #1 thread starter.

None of which have a nano scalper’s thimble full of content worth reading…

5

I use Oanda and don’t have any problem with them at all. Account is up 2% since lunch time today. :smiley:

6

I am sorry, but you really don’t know what you are talking about. Please don’t blame your trading platform provider for your own lack of knowledge. Spreads widen at news times and at the weekend. It happens.

It’s well known by anyone who has traded Demo for a period of time and if you aren’t familiar with how to trade during these times, keep a careful eye on the news event calendars and get out beforehand.

Newbies should beware of people who blame trading firms for their own lack of knowledge. :cool:

7

Well I’m sorry about your 20 pips you lost, I know how does it feel, but let me tell u,
You don’t have enough information yet to trade with real money, give a ry to the Demo account for a long time, (5 months minimum), or till you get comfortedwith the market and feel you’re ready to trade and make profits.
Good Luck !!

9

brilliant!!!

I don’t understand how you are senior member, joined only 1 month after me, and don’t understand that spreads increase during news. And what the heck does that have to do with scalping?

10

I’m confused with the issue at hand. The spread widens to 10, tops. I have not seen a spread of more then 10 pips. Assuming it went from 0 to 10, how did you loose 100? Did you do it 10 times? If so, how is it Oanda’s fault?

I’m just confused but I would like a better explanation. For the record trading 10 lots does not make 10 pips 100 pips. It makes 10 pips * 10 lots.

I’m really interested in an explanation.

11

Typical problems with forums, someone can just spam a lot to make themselves look clever (Or try to!!), just not the advertising kind :wink:

12

I’m not sure I really understand the 2 issues here, especially the 2nd loss. How did a 10 pip spread make you lose 100 pips?

If you are implying he posts a lot more than you, it’s actually the opposite, looking at the numbers. Just sayin’ :wink:

13

BabyPips’ post/status system is a bit skewered … I think they’ve changed the number of posts required to have a certain member status recently, so for members who had a certain status before the change the old number of minimum posts applies, for members who have registered or reached status after the change the new system applies. Therefore, sometimes it doesn’t gel.

You can notice this with many member accounts: some have 250 posts and are Junior Members, others have 180 posts and are Senior Members.

In the end, ‘rank’ doesn’t matter, of course … what somebody has to say is the important thing.

O.

14

A few years ago, Oanda accidentally widened the spread to 200 pips around NFP !

To their credit, they sorted out the devestation extremely quickly and fairly.

15

OANDA is fine with me, at least till now.

16

I feel sorry for you