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Hey all, I know I haven't been around much lately. I've been spending my time trying to learn java enough to be able to use Oanda's API and finally this past week was my first week actually using it on my real account. I just wanted to say after all the time I've spent learning MQL4 and trying to use MT4 brokers for automated trading (Which worked well overall), I am much more pleased with the execution and lower spreads at Oanda!! It was hard for me to finally break down and pay the $600 a month to use their API, but I've realized that with as many trades as I make, it is cheaper to pay the $600 and have the lower spread! But also I really like such great execution! I made about 40 trades this past week, and only one was at a different price than I was shooting for, and it was only about 1 pip different, and appears to be an extremely rare event.
Anyway, I was just really happy with what I saw this past week and thought I'd come back here and tell you all of my experience there. If any of you are thinking about making the switch (as I was debating it for like the last year and a half!), let me know any questions you have. Their Example2.java was what really helped me learn how to use their API. If you have questions about that just let me know, or if you want, I might be able to run your idea on my demo with their API for you to compare how well it would work compared to what you are currently getting with any MT4 broker.
Talk to you all later!
Hey all, I know I haven't been around much lately. I've been spending my time trying to learn java enough to be able to use Oanda's API and finally this past week was my first week actually using it on my real account. I just wanted to say after all the time I've spent learning MQL4 and trying to use MT4 brokers for automated trading (Which worked well overall), I am much more pleased with the execution and lower spreads at Oanda!! It was hard for me to finally break down and pay the $600 a month to use their API, but I've realized that with as many trades as I make, it is cheaper to pay the $600 and have the lower spread! But also I really like such great execution! I made about 40 trades this past week, and only one was at a different price than I was shooting for, and it was only about 1 pip different, and appears to be an extremely rare event.
Anyway, I was just really happy with what I saw this past week and thought I'd come back here and tell you all of my experience there. If any of you are thinking about making the switch (as I was debating it for like the last year and a half!), let me know any questions you have. Their Example2.java was what really helped me learn how to use their API. If you have questions about that just let me know, or if you want, I might be able to run your idea on my demo with their API for you to compare how well it would work compared to what you are currently getting with any MT4 broker.
Talk to you all later!
Willis
People tell me Metatrader is unreliable for trading near the bid/offer.Is this true?What is your experience ?
As regards lower spreads ,I feel most of the other metatrader brokers are catching up.ODL securities are offering spreads of 2 ips for usd yen ,3 for usd cad and 3 for usd chf plus 2 for e/gbp and e/chf.
Oanda's spread advantage is no longer there .Futures accounts offer far better spreads on the 3 majors euro/usd.usd/yen and gbp/usd.The Oanda advantage is eroded by the $600 per month fee .Plus there are many good EAS already available which can be improved.
Oanda spreads are likely to go up in the future as investors will soon start demanding higher profits from Oanda.
Hey all, I know I haven't been around much lately. I've been spending my time trying to learn java enough to be able to use Oanda's API and finally this past week was my first week actually using it on my real account. I just wanted to say after all the time I've spent learning MQL4 and trying to use MT4 brokers for automated trading (Which worked well overall), I am much more pleased with the execution and lower spreads at Oanda!! It was hard for me to finally break down and pay the $600 a month to use their API, but I've realized that with as many trades as I make, it is cheaper to pay the $600 and have the lower spread! But also I really like such great execution! I made about 40 trades this past week, and only one was at a different price than I was shooting for, and it was only about 1 pip different, and appears to be an extremely rare event.
Anyway, I was just really happy with what I saw this past week and thought I'd come back here and tell you all of my experience there. If any of you are thinking about making the switch (as I was debating it for like the last year and a half!), let me know any questions you have. Their Example2.java was what really helped me learn how to use their API. If you have questions about that just let me know, or if you want, I might be able to run your idea on my demo with their API for you to compare how well it would work compared to what you are currently getting with any MT4 broker.
Talk to you all later!
Willis,
Hello there. Been long time never read your posts since your Stochastics EA. I have a little experience with OANDA-API. But, according to my previous experience, it is not neccessarily to pay 600 everymonth, as long as you execute 20lots round turn. Which is in total of execute 10x 100000 unit trade, and close 10x 100000 unit trade within a month, the 600 dollars can be wave as far as I know. May be you should check with them again. And yes, execution and spread are far more better then any MT4 platform. But I think MT4 is still my most important stepping stone to create a good system. Oanda API doesn't offer free tick data to do backtest. And it is not easy to do backtest even if you subscribe to the history data. So, most of the time I'm developing a system based on MQ4, after backtesting, forward testing, and make sure its live tradeable, only I'll convert it to API and have it hook on OANDA. BTW, I dont code JAVA, I hire people to help me to do it. May be its good for me to start learning from now on Atleast I get to save some trouble from PAYING SOMEBODY TO LEARN MY TECHNIQUEs!!!
I dont code JAVA, I hire people to help me to do it. May be its good for me to start learning from now on Atleast I get to save some trouble from PAYING SOMEBODY TO LEARN MY TECHNIQUEs!!!
Regards
David
Get a professional programmer and u will see a far better job.I am not referring to these hacks as professionals .
There are good pros worth their money in gold.You pay peanuts you get monkeys and go monkeynuts.
99 % of the free stuff on message boards is rubbish xxxx and I would not use it because it is written by hobbyists
People tell me Metatrader is unreliable for trading near the bid/offer.Is this true?What is your experience ?
As regards lower spreads ,I feel most of the other metatrader brokers are catching up.ODL securities are offering spreads of 2 ips for usd yen ,3 for usd cad and 3 for usd chf plus 2 for e/gbp and e/chf.
Oanda's spread advantage is no longer there .Futures accounts offer far better spreads on the 3 majors euro/usd.usd/yen and gbp/usd.The Oanda advantage is eroded by the $600 per month fee .Plus there are many good EAS already available which can be improved.
Oanda spreads are likely to go up in the future as investors will soon start demanding higher profits from Oanda.
I will hang on going back to Oanda
El Cid
My experience with mt4 brokers and real accounts has been a little with IBFX, which I don't like, and MIG which was better (lower spreads) but still too many requotes. I switched to using limit orders in my EAs and they still would reject them here and there, which in the end really cut into my profits. It is my humble opinion that MT4 was made for the Brokers to do better business for themselves, not for the client. This may seem obvious to some who realize that MT4 is free for us the clients and Metaquotes gets their income from the brokers who pay to use MT4 as their platform.
As for the spreads at Oanda, they are the best I've seen anywhere! Here and there you may see ECNs have better spreads, but they also widen them a lot more frequently, and charge commission on top of the spread! So Oanda is the lowest I see. And they have been dropping them even smaller lately, I think in part due to the recent big investment they obtained. But they have been slowly lowering their spreads for a long time now.
As for the $600... I have done the math on how often I trade and how much I save on each trade for the lower spread, and it, for me anyway, is well worth it!
I doubt investors in Oanda are going to try to tell Oanda what to do. Oanda has been in business for a long time now, and they know better than their investors how to do business. That's why the investors are investing in Oanda, rather than running their own business.
Hello there. Been long time never read your posts since your Stochastics EA. I have a little experience with OANDA-API. But, according to my previous experience, it is not neccessarily to pay 600 everymonth, as long as you execute 20lots round turn. Which is in total of execute 10x 100000 unit trade, and close 10x 100000 unit trade within a month, the 600 dollars can be wave as far as I know. May be you should check with them again. And yes, execution and spread are far more better then any MT4 platform. But I think MT4 is still my most important stepping stone to create a good system. Oanda API doesn't offer free tick data to do backtest. And it is not easy to do backtest even if you subscribe to the history data. So, most of the time I'm developing a system based on MQ4, after backtesting, forward testing, and make sure its live tradeable, only I'll convert it to API and have it hook on OANDA. BTW, I dont code JAVA, I hire people to help me to do it. May be its good for me to start learning from now on Atleast I get to save some trouble from PAYING SOMEBODY TO LEARN MY TECHNIQUEs!!!
Regards
David
Your right. MT4 is my stepping stone too. I still use it for back testing, as it is what I am used to. You can get free tick data now though from Oanda for five majors, going back to like 2000 or 2001 I think. You do have to have a real account with them though, and have atleast $1,000 in that account.
Yeah, I looked into hiring out for java, but like you said, you really don't want to dish out the money and give your idea to someone else! I have been paid by a couple people to make EAs, and I am happy to take the pay, but the ideas they wanted me to program didn't look very good to me, so it wasn't a big deal. But with my program, I already backtested it and varefied the backtest was accurate by hand with several trades, so I know my idea is good and I would hate for it to get sold to someone, and eventually everyone knows it and it would probably stop working with everyone and their dog using it! So, my two cents to you would be to learn java for yourself. As I mentioned earlier, their Example2.java file is a great example of most everything you need. It was way over my head the first time I looked at it, but I had a friend help explain it a little to me, and I picked up the rest of whatever I needed.
HAHAHA!!!! That was the first EA I used with real money and I was losing my shirt big time, until I tried to varify by hand that the backtest was 100% accurate and found out that it must be guessing on a lot of the data, since it was using a 1 hour chart data, and had to guess some stuff, and it would guess in a more favorable manner for my strategy, but in real life, it was lousy! After that, I decided if I couldn't verify by hand where exactly the trades would go through on a chart, I wouldn't trust the results of the backtest! This is a very good rule to follow with back testing results.
The EAs I made money with were never posted to the public. I only shared it with two people locally here that worked with on it. Anyway, I don't use them anymore, as they had started to lose me money after about 8 months of success (about 3,000 trades!!). I was trading several pairs and very frequently, which can make the account go up fast, but it can also make your account drop really fast too!
Atleast I get to save some trouble from PAYING SOMEBODY TO LEARN MY TECHNIQUEs!!!
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