Is it quick and easy to enter then QUICKLY exit a trade with oanda bansir? i.e. - long - instant fill - 2 seconds - exit long instant fill, (all without having to re-open a new order ticket??)
Opening new order tickets, closing old ones, re-entering position size etc. can add up to a few seconds in delays and diverted attention.
With such small stop losses as used by maggie (2-3 pips) price could easily move beyond your SL b4 you've had chance to re-open the order ticket for a potential exit, just after the entry confirmation.
ABNamro markets ticket system doesn't look the quickest for this. Once entered, a confirm box appears that you have to click ok on to get rid. The order ticket remains open & the position size input entered remains, but you have to remove the checkmark from - eg. the buy to sell circle.
Hi JT,
The mechanics of order entry on the Oanda / ABN platform are fairly quick.
You click on the buy/sell button and a market order window opens quoting the bid price by default. If you want to sell, you need another button click to select 'sell' in the same window.
As soon as you hit the 'submit' button, your order gets filled usually instantly though not always. You can preselect default order size and stop loss amongst other things so you only have 3 clicks at most to get your order in. You can also keep open the market order window saving one click.
To close an order you can click on the live order listed under the 'Trades' tab then click 'close'. That's the fastest way I've found to close. Someone may have a quicker method though.
When scalping, you may want to also turn off the order confirmation; visually it can get in the way of the price action and uses up another click. Of course, if you do this then you have to trust that the order has gone through. I have found you nearly always get filled at the quoted price. As usual though, when the market is moving quickly you may get filled at a better / worse level than you want. There appears to be no 're-quote' window on Oanda.
When the market gets really choppy, I have found that the connection disappears and you are blanked out until things settle down again. I have had days when this has been quite frequent and it is extremely frustrating.
Just remembered: There is an order reversal option somewhere but I've never used it.
The spread on Eur-Usd in normal market conditions was 1 pip. I seem to remember TRO went on about some firm offering no spread but taking a commission?
Hope the above is accurate. Someone will probably correct me if I'm off the mark (please).
Best Regards,
Neil
