Heh....I would. Really? You trade with Oanda, right? At least that's where all your charts come from. Actually it doesn't matter who you trade with. Let's go through an excercise... If, for EUR/USD the buy price is 1.2656 and the sell price is 1.2647, then you've got a 10 pip spread, right? I'll assume you agree with me here. If you buy EUR/USD at 1.2656, the market maker (in this case Oanda) is taking 10 pips from you right from the start, right? If the price goes up to 1.2686/1.2677 and you close, or sell, you're closing at 1.2677 - not 1.2686. That's another 10 pips to the market maker. Sure, technically you can say you've only been charged the once, but you're giving up the spread each time you make a transaction. Now let's look at your trades in this thread: Opened at 1.2698, closed for a very juicy 20 pips @ 1.2678. You paid the sell price when you opened the short, but the price was 1.5 pips higher. You closed 1.5 pips higher than the sell price. Oanda got 3 pips from you from the trade. Then you opened, immediately, at 1.2676, and Oanda instantly got another 1.5 pips. which you closed again @ 1.2659 for a nice, fat, wholesome 17 pips profit. And you gave Oanda the 1.5 pips by taking the buy price there. Another 3 pips. You re-entered again, right at the exact same price, giving another 1.5 pips right there to Oanda and a short position at 1.2659. This time, you did exceptionally well with a 19 pip gain! And closed at 1.2640 and took the buy price once more on close. You re-entered AGAIN at 1.2640 which is still open I assume - since you posted no close. Let's count the pips you gave Oanda, shall we? What do we get, 11.5? Even if it was only your opening that you're counting, you're still at 6 or so pips. If you were really a smart trader, you'd use this thing called a stop loss and just move it down to cover your profit - or even keep the trade open. Then you'd have made all those pips and not given any back to Oanda except the original opening trade, and closing move. Hell, you could even close the trade if you wanted and then waited to catch a higher price to sell at. But opening a trade at the exact spot you closed one at - repeatedly - doesn't speak much for the supposed "god of forex". You should at least let the newbies of the forum know that they should "not try this at home". I can put this in a coloring book if it's too confusing.
Ivanovich and Drawdown, please take your squabble offline. If either of you have anything pertinent to say about EURUSD spot or futures, I'd love to read your post. However, I am sure none of us are interested in the personal attacks you exchange with each other. RoughTrader
Dude, there you go again going off on an Ivanobitch fit tantrum. Let me simplify it so that even YOU can understand. EUR/USD is trading at 1.2650 (for example). I open a short @ 1.2650 (ask price, because I am selling to the buyers/bid). I am deducted ONE PIP (Oanda says 1.5 wide but it registers as only ONE). Price moves DOWN to 1.2649 - guess what, I am at 0 in my Pips Profit indicator. Price then drops 20-pts down (to 1.2630) I CLOSE the trade there. How much did I NET? 19-pts because Oanda ONLY TOOK a point. But, since you're so knowledgable about ForEx trading... How do you successfully take the other of carry traders? dd
Closed since we can't seem to stay on topic. http://www.elitetrader.com/vb/showthread.php?s=&threadid=36891&perpage=6&pagenumber=657 Here is an existing thread for anyone interested in discussing EUR/USD.