beware Oanda - you should know this!

[everyonerich]

for eg: u had buy order at 1.2000 and stoploss at 1.1960


if you want to reverse trade and sell limit if market hit the stoploss for previous buy order and enter the opposite direction right way, becareful you may not get any entry!

sometimes the opened position sl is not closing yet even if the price already reach your designated SL, and your opposite order will attempt to entry and ended up closing each other. i just chat with oanda they say dont offer stops


you have to enter manually to reverse trade and maybe wouldnt get the exact entry you want, that sucks!

 

[Rhody Trader]

I'm not following what you're talking about here. Walk through it step-by-step please.

 

[everyonerich]

I'm not following what you're talking about here. Walk through it step-by-step please.

for eg: you have buy opened position, entry at 1.2000 and SL at 1.1960


then you set another pending Sell limit order at 1.1960 and your pending order may not executed because oanda dont offer stoploss guarantee

so assume if price was touched 1.1960, the buy opened position may not yet will close, then your pending sell will entry, ended up closing both position and you cant reverse trade. need to do it manually!

 

[Rhody Trader]

So you're long at 1.2000 and want to do a stop-and-reverse at 1.1960? Am I understanding you correctly?

 

[arabianights]

what the **** are you gibbering about?

 

[jazzidee]

Why not instead of using a stoploss, double the position of the stop and reverse (or reverse size + original) - since that's the order which is triggered...

Typical, lose money then blame broker.

 

[WongJowo]

As far as I knew, OANDA platform didn't have a feature that able to open two different positions, I meant We can not open buy and sell and running them together. If this kind of feature be required for your strategy, better if you choose MT4 platform.

Just a newbie opinion
pss:
I've been trading with OANDA for five years, and didn't have any problem with them except decreasing my capital fund because of my loses