Trader’s Tech – Oanda #5

Tim Black hosts the live trading room for the Asia trading session. His background is in computers and technology. He is addicted to technology, charts and technical analysis and enjoys teaching and sharing his viewpoints in these areas.

I can’t say the Oanda FXTrade/FXGame platforms are my absolute favorites. But they still have some interesting features. And Oanda as a broker, is not too bad either with tight spreads, fast execution and the ability to size your trades to a single unit of currency (awesome for risk management on very small accounts.)  The charts and accounts are live all weekend, so I use my Oanda account to track price action on Sunday afternoon, allowing me to trade gap closings that occur earlier. Also, if you sign up for a demo account, you have it for life. It is never canceled.

The trading platform (FXTrade for live accounts and FXGame for demo accounts) is Java-based, which is one of the reasons I prefer to use others. But there are quite a few features that make it nice. For example, you can detach charts, tables, account summaries, dealing rates and activity logs from the main window and place them anywhere on any monitor on your system.  You can also be logged into the live trading platform simultaneously on several computers if you like. That feature is nice for guys like me with several (three and sometimes four) computers on my trading desk.

Oanda Platform Window Detach Buttons

Oanda Platform Window Detach Buttons

To detach a window from the main window, just click on the double window icon (circled in red) in the upper right of whichever chart or table you would like to separate.

You can also easily change the content of the tables:

Oanda Open Trades Table

Oanda Open Trades Table

Click the button that you see circled in the image above and you get the dialog below:

Table Configuration Dialog

Table Configuration Dialog

This dialog will allow you to show only the data you want to see in the table.

After you’re done configuring your platform you can save the profile to recall at any time.

You can create a new profile or save an existing profile right here. It will store your window setups, sizes, locations and other configuration information to be recalled at any time.

I hope this will help out some of you limping along with the Oanda platform. I’ll post more hints about this platform in the future.

May the pips be with you!

Tim

Secret Asian Man 😉

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  • Hi,
    Thanks a lot for your comments. I haven’t looked at Oanda’s demo in quite a while, so I wasn’t aware that the spreads didn’t widen there.

    Very good point about adding to winning positions. It’s very nice being able to size your position to as small as you need.

    Thanks,
    Tim

  • George

    I have been using Oanda demo for a while and it does have some very convenient features I especially like being able to adjust SLs & TPs by dragging on the chart, but for live trading I woould supplement with a charting package, also Oanda is NOT for news trading or weekend trading as they widen their spreads considerably during these times.

  • Tricia

    Will chk it out Tim. Tks.

  • Dgallag687

    Thanks Tim have applied for a demo, also thanks for your CADJPY post.

  • Anonymous

    I really like the Oanda platform and have made hugh profits but the instant execution on quick moving markets. Only problem is the widening spreads!

  • Mike

    I believe the spreads are some of the best during normal trading hours. They just may be the only 24hr ,7 day a week active trade account, although the spreads over the weekend are bad … in an emrgency it just may pay to CYA when other brokers are closed. Also I have not once had an order not filled the first time submitted. They have a few drawbacks like one free withdrawl a month and limited funding options but an excellent account to have open just incase.

  • Darryl

    Thanks Tim. When broker integrity is being discussed, Oanda usually seems to lead the pack. On your tip I think I’ll get a demo and check it out.