Hi, what is the best solution to have all these pieces together 1- using Oanda 2-scalping (100-500 trades/day) 3-using one second time frame 4-using automation the challenges are: Fxtrade doesnot support automation except with API which costs 600$/month I have heard about fxspyder but it is rubbish from my point of view. share your opinion please Thx
I'd love to see how you're going to scalp 200 round-trips at a pip each way.... but there is no alternative to their API.
I have not said " a pip each way" . I know there are no alternatives but i am thinking to use third party platform.. but am confused which platform should i use. Multicharts, amibroker, ninjatradre, RightEdge, Openquant. or what.. I am not sure they are suitable for that or not. I wish who have experience to tell me Thanks anyway
All the previous posters were trying to tell you that nothing integrates with Oanda other than their own API. This means no eSignal, no NinjaTrader, no MultiCharts, no Tradestation... you get the idea?
If you are serious about doing this, you are going to have to pay $600/mo for access to their API, and write your own code that interfaces with it. Otherwise it's just a pipe dream.
Where did you get the idea that the API will cost you $ 600 p.m. ? With your volume you should be completely free, even with only 100 trades a day -less than half a minilot per trade should suffice. Regards Hittfeld
I am intending to use 10-100 $ lot size* 500 to 1000 times per day, This would be 50k-100k per day. This will sum to about 1 to 2mi per month. This is my first stage to test the system on Oanda. Then if things goes right, i could go easily to more than 12 million per month. My intention is to test it for about 5-6 months before going to over 12 mi. to get free API. Thanks McGene