Online Forex Trading & Forex Broker OANDA

Two important dates

Normally, I would not post this as we should all be adults and know how to use a forex calendar and read the news. However, a rash of posts both here and abroad on the net that essentially are asking how to get megapips off of the Brexit vote have me concerned, so here we are. Also, people seem to be overlooking the big elephant in the room, the June FOMC.
Short version:
WED JUNE 15 1400 EST FOMC STATEMENT Whether you like it or not, the USD touches everything you do, like those bad decisions you made in University.
THURSDAY JUNE 23 UK BREXIT VOTE This really could be underwhelming.... or it could be horrific.
If you are a n00b, stop trying to get rich off of the Brexit vote. You need to concentrate on successful, positive trades, not big wins. Go gamble if you want that rush. The Brexit vote is one of those events that can cause such precipitous damage to accounts that Brokers are limiting retail leverage and raising margin rates: (from Oanda)
Dear Huachi
During events such as the upcoming Brexit referendum, market movements can be significant leading to the potential for large profits, but also large losses. To help ensure our customers are more insulated from such movements, we will be temporarily lowering the maximum leverage available on GBP pairs to 20:1 after the market close on June 17, 2016. The affected pairs will return to prior leverage levels after the market close on June 24, 2016.
As a result of this change, you may need to close trades or add funds to your account or risk a possible margin closeout if you currently have an open GBP positions with higher levels of leverage and do not have enough funds in your account to cover the increased margin requirements. To determine the impact this change may have to your margin, you can use OANDA’s margin calculator.
Margin rates on pairs not containing GBP will not be affected.
If you have any questions, you can contact our Client Experience Team whenever markets are open.
Regards, The OANDA Team
And FOMC? The June FOMC is not just any FOMC, it will really be a bellwether for 2016 for the Fed's direction with interest rates until election and Christmas. Will they stick to their word and raise rates? Or change course and have a flat rate, showing their weak hand? There are estimates in both directions (some showing preciptious cliffs, some showing seismic movements back and forth), but again, unless you are confident in your analysis, market intel, and skill set, pay attention because the June FOMC has a potential for a radical whipsaw.
I'll take this down in a few days, it is not a soapbox, but there is some real shit in the market right now that has capacity to wipe out accounts. Noobs watch out, you pros too!
~Huachi
submitted by El_Huachinango to Forex [link] [comments]

Getting Started

Hey guys! I found a super cool list of everything a new forex trader would need to get started! Originally made by to nate1357. Link to original thread http://redd.it/328cjr
Free Resources
Education:
www.babypips.com/school
www.informedtrades.com/f7
www.forex4noobs.com/forex-education
www.en.tradimo.com/learn/forex-trading
www.youtube.com/useTheTradeitsimple
www.traderscalm.com
www.orderflowtrading.com/LearnOrderFlow.aspx
www.profitube.com
Calendars:
www.forexfactory.com/calendar.php
www.dailyfx.com/calendar
www.fxstreet.com/economic-calendar
www.forexlive.com/EconomicCalendar
www.myfxbook.com/forex-economic-calendar
www.investing.com/economic-calendar
Free News Websites:
www.forexlive.com - Daily live news, analysis and resources
www.financemagnates.com - FX industry news and updates
www.fxstreet.com - Daily news, analysis and resources
www.forextell.com
www.forexcup.com/news
www.bloomberg.com/markets
Forums:
www.reddit.com/forex
www.forums.babypips.com/
www.forexfactory.com/forum.php
www.elitetrader.com/et/index.php
www.forex-tsd.com/
www.fxgears.com/forum/index.php
www.trade2win.com/boards
Margin / pip / position size calculators
www.myfxbook.com/forex-calculators
Brokerages:
There are many factors to consider when choosing a brokerage. Regulations typically force US traders to only trade at US brokerages, while international traders have more choice. After considering location you need to consider how much capital you will start trading with as many have minimum deposit levels. Once you’ve narrowed that down you can compared spreads and execution. ECN brokers execute your orders straight through to their liquidity providers, while market maker brokers may pair up your trades with other clients. Market maker brokers typically will partially hedge your positions on the interbank market. Many consider this to be a conflict of interest and prefer to trade at an ECN broker who would have an active motive to see you succeed. Lastly, brokers run inherently risky business models so it is important to consider the risk of bankruptcy.
www.forexpeacearmy.com - Aggregates broker reviews. Be warned though that people only seem to make bad reviews.
www.myfxbook.com/forex-broker-spreads - Live comparison of executable spreads
United States & International-
-Interactive Brokers
International Only-
-LMAX (whitelabel DarwinEx)
*DMA broker based in the UK. Note that as a DMA broker LMAX eliminates the ability for LPs to last-look transactions. This may result in reduced liquidity during volatile times as liquidity providers would be likely not to risk posting liquidity to LMAX's pool. *Tight spreads *Minimum deposit $10,000 *Fairly well diversified
-Dukascopy
*ECN based in Switzerland, but available elsewhere depending on local regulations.
*Tight spreads *Minimum deposit $100 *Fairly well diversified
-IC Markets *ECN based in Australia *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Fairly well diversified
-Pepperstone
*ECN broker based in Australia. *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Not well diversified
Software / Apps:
Desktop/mobile
Terminology/Acronyms:
www.forexlive.com/ForexJargon - Common terms and acronyms
FAQ:
I need to exchange money, how do I do it?
This isn’t what this sub is for. Your best bet is using your bank or an online exchange service. Be prepared to pay a hefty fee.
I have money in one currency and need to exchange it into another sometime in the future, should I wait?
Don’t ask us this. We speculate intraday in FX and shouldn’t be relied on to tell you what’s best for you. Exchange the money when you need it.
I have an FX account, should I start trading demo or live?
This is highly debatable. You should definitely demo trade until you have mastered how to use the trading platform on desktop and mobile. After that it’s up to you. Many think that the psychology of trading live vs demo trading is massively different. So it may pay to learn to trade live. Just be warned that most FX traders lose almost their entire first account so start with a low affordable balance.
What’s money management?
Money management is a form of risk management and is arguably the most important aspect of your trading when it comes to long term survival. You should always enter trades with a stop loss - the distance of the stop allows you to calculate how large of a percent of your account balance will be lost if your trade stops out. You can run a monte carlo simulation to figure out the risk of having a number of trades go against you in a row to drain your account. The general rule is that you should only risk losing 1-4% of your account per trade entered.
More on this here: www.investopedia.com/articles/forex/06/fxmoneymgmt.asp[35]
www.swing-trade-stocks.com/money-management.html[36]
What about automated trading?
Retail FX traders have been known to program “Expert Advisors” (EAs) to automate trading. It’s generally advisable to stay away from that until you’re very experienced. Never buy an EA from a developer because the vast majority of them are scams.
What indicators are best?
That’s up to you to test and find out. Many in this forum dislike oscillating indicators since they fail to capture the essence of what moves price. With experience you will discover what works best for you. In my experience indicators that are most popular with professional traders are those that provide trading “levels” such as pivot points, fibonacci, moving averages, trendlines, etc.
What timeframe should I trade?
Price action can vary in different timeframes. In longer term timeframes the price action and fundamentals are much more clear. Unfortunately it would take a very long time to figure out whether or not what you’re doing is successful on longer timeframes. In shorter timeframes you can often tell very quickly if what you’re doing is profitable. Unfortunately there’s a lot more “noise” on these levels which can prove deceptive for those trying to learn. Therefore the best bet is to use a multi-timeframe analysis, working from top-down to come up with trades.
Should I trade using fundamental analysis (FA) of technical analysis (TA)?
This is a long standing argument in these forums and elsewhere. I’ll settle it here - you should have an understanding of both. Yes there are traders who blindly ignore one of the other but a truly well rounded trader should understand and implement both into the analysis. The market is driven in the longer term through FA. But TA is necessary to give traders a place to enter and exit trades from a psychological risk/reward standpoint.
I’ve heard trading Binary Options is an easy way to make money?
The general advice is to stay away from binaries. The structure of binary options is so that when you lose the broker wins. This incentive has created a very scammy industry where there are few legitimate binary options brokers. In addition in order to be profitable in binaries you have to win 55-65% of the time. That’s a much higher premium over spot FX.
Am I actually exchanging currencies?
Yes and no. Your broker handles spot FX is currency pairs. Although they make an exchange at the settlement date they treat your position in your account as a virtual currency pair. Think of it like a contract where you can only buy or sell it as a pair. In this sense you are always long one currency while short another. You are merely speculating that one currency will appreciate or depreciate vs another.
Why didn't my order fill?
Even if price appears to cross over a line on your chart it does not guarantee a fill. Different charting platforms chart different prices - some chart the bid price, some the ask price and some the midpoint price. To fill a limit order price needs to cross your limit's price plus the spread at the time that it is crossing. If it does not equal or exceed the spread then it will not fill. Be wary that in general spreads are not fixed. So what may fill at one time may not at another.
submitted by ClassicalAnt6 to TeamOceanSky [link] [comments]

How to calculate the margin and pip value of CFDs (such as Stock Index), specially, Oanda CFD?

Hi all,
To extend my vision, I start studying CFDs, such as Stock Index, Oil, Commodity, etc. Unlike Forex, I don't understand how margin and pip value is calculated for Stock Index and other CFDs.
I tested with Oanda CFD, seems the margin for 1 unit UK 100 is about $10000, and 1 unit Brent Crude Oil is about $50. Seems the margin for BCO is just the price of the oil, but how about the Stock Index, what's the price?
Thanks
EDIT: the margin I talked above is the total money required, not leveraged. And the leverage provided by Oanda is 50. So the leveraged margin for 1 unit BCO is only $1.
EDIT2: Though on Oanda forum nobody answered my question about what the multipliers are, eventually I realized for fxTrade the multipliers are just 1, but different conttacts are quoted in different currency. FTSE is quoted in GBP, so 1 contract value is 7000 GBP, which is about 10000 USD, which is exactly how I observed. And the pip value is always 1 quote currentcy. For FTSE, the pip value is 1 GBP, which is about 1.5 USD.
submitted by wqking to Forex [link] [comments]

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How to Cancel and Modify Positions on OANDA Web Forex Trading Platform

What is margin call and stop out level in Forex? What is Stop Out? Margin Call 50% & Stop Out 20% Level Live Trading Tutorial in Forex by Akhlaq Ahmad (from Mailsi, Vehari) Leverage: 1:1000 ... How to calculate viable trade sizes based on the Leverage traded with and the account size Understanding forex leverage, margin requirements and sizing trades for successful trading. The following video will guide users through the process of connecting to the OANDA Forex Datafeed on Optimus Flow. Sign up for an Optimus Flow Demo here: ht... Unraveling the Mystery by www.SecretsFromTheHeart.com & how to use the FREE Forex Margin & Draw Down calculator The following video will demonstrate the process of canceling and modifying potions on the OANDA Web Forex Trading Platform. OANDA provides traders with the ability to do so through both the chart ... OANDA Desktop's Currency Pair Units Calculator can be used to calculate the maximum number of units of a currency pair you could trade with your available ma...

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