Using MT4 for charting and oanda to place trades

Hi guys,

I like placing trades with oanda because you can determine your trade size down to the last cent. However, i really don’t like the platform for charting. Especially compared to MT4.

For those using MT4 for charting and oanda for trading, how do you take signals on MT4 and then place a trade on oanda, when there is a discrepency between the two in time frames. e.g a bar on a time frame will show up on MT4, but will not show on oanda?

Personally I find the charts on Oanda adequate for my system,
but I also refer to MT4 at certain times.

You need to hone your system on the charts you are happy with,
ie if you use MT4 for your system then just take the signals from that,
place your trades on Oanda & ignore their charts.

PS The reason for the discepancy? Oanda charts on mid point of the
spread, MT4 us the bid.

Hi Daydreamer65, Thanks for the reply. I have read threads where people look at their MT4 charts to look for an entry, then place the actual order through oanda.

What i don’t understand is that because oanda closes the day 7 hours later than my MT4 client, when i’m looking at my charts on MT4 and they look completely different to the oanda charts becaus of the time frame differences. Am i able to use my MT4 chart to find my entry signal, then place the order on oanda, even though the chart on oanda looks completely different to my MT4 chart? Hope this makes sense.

You could turn the charts off on Oanda & just trade using the
market order, the price is usually the same, within a few pips,
& that is what you are trading on.

I make trades at a spreadbetting company as well but I do not
use their charts, in fact I have never looked at their charts.

Eventually the time differences will not matter, you will settle into
a set system.

What i don’t understand is that because oanda closes the day 7 hours later than my MT4 client, when i’m looking at my charts on MT4 and they look completely different to the oanda charts becaus of the time frame differences. Am i able to use my MT4 chart to find my entry signal, then place the order on oanda, even though the chart on oanda looks completely different to my MT4 chart? Hope this makes sense.

I trade with Oanda, but do my charting on MT4 with IBFX. The difference in charting doesn’t matter. I’ve never even looked at my Oanda charts before today, and just now realized they were different after reading your comment and looking. I’ve been trading live for 6 months this way and have never had a problem. The price quotes of the two platforms are all that matter, and they are usually within 2-3 pips of each other.