Oanda Demo & S/L

[maknz]

Hi,

I'm a bit of a lurker around here but just wanted to ask a question.

I entered a long demo trade on NZDUSD at 0.6208 and set my S/L at 0.6180. The platform closed at my stop at 11:37am this morning (21/10) and yet the chart shows the candle low, bottom of the wick, at 0.6184. Both 5m and 15m.

Can anyone explain this? Especially anyone else who uses Oanda..

I'm quite accepting of being stopped out (it happens frequently enough) but I'd like to know why I've been stopped at a level that is below the low of the candle.

If anyone can explain it would be appreciated. I started filling out the paperwork to open a micro acct. with Oanda but want to make sure I understand this stuff pretty thoroughly before going live (even if it is for spare change).

Regards,
mak

PS: As I've been writing this post the next candle has reversed back to my entry with no sign that price actually touched my S/L. Only a demoe acct, but still frustrating.

[AMR]

Did you take the spread into account when setting your stop?

[maknz]

Yes & no. This is something I'm still getting my head around (the spread).

I bought at .6208 with a to 10 PIP spread at the time, so the chart price (I have it set to the sell) was at .6198.

My understanding that my stop (0.6180) would be activated if the sell price hits .6180. Is this incorrect?

Bought: 0.6208
T/P: 0.6238
S/L: 0.6180

I guess it's pretty important I get this right. I thought that if I buy at 0.6208 and set these targets, that either one will close when the sell price reaches it?

It's shaping up to be a bad trade, but that's a bit beside the point.

Thanks,
mak

[arco]

Maknz

Lowest price was 6174.

Bear in mind also that Candles/Bars are not a true representation of the extremes of price. You need to refer to the MIN/MAX display to see the extremes of moves. (I've attached a chart for you showing where 6180 falls).

From Oanda Help Files.

"The FXTrade platform will not trigger an order if the execution price has not been reached. If you are using the Close Price, Candlestick, HLOC, or HLC charts your order may appear to be out of bounds. Please make sure you are using the Min-Max chart view when examining your trades, which displays the range between the minimum bid and the maximum ask prices during each time interval."

arco

[maknz]

OK, that explains it.

Many thanks.

[arco]

.

Not very impressed with Oanda Gold spread currently ......its been 200 during the day.......... although dropped to 150 now.

Most of the MT4 brokers are 50 to 70

Huge difference when you trade a number of times a day