Here is the situation. Oanda just changed there interest rate structure......It is brutal for me now. I went from being profitable to not being profitable overnight due to fees.......The interest rate increase is massive knocking me out of the game! Brutal! Anyways the way Oanda was before was awesome for my strategy......Here is what I need in a CFD broker which I dont think exists... I need to be able to trade in micro lots.....I place a lot of trades but in micro lots. To give you an example with Oanda if you wanted to trade wti you could buy a 1 lot meaning that if oil wti was at 60$ and went to 61$ you would make 1$. This was amazing being able to trade so small..... Another example which is crazy is currency you could actually trade a 1 lot. Many traders are going long a currency 100,000 units but with Oanda you could and still can trade in 1 lots.....I dont even know what that means the nano of the nano. My smallest size was usually 100 units but still this was amazing that they would let you do that. I actually did do some 1 lots I am sure but only for testing... The point is I need a broker that will allow me to do that and take traders from Canada... I dont want you to think I am a small fry cuz I am not.....I am not huge more like medium size with a ton of potential although the latest Interest increase from Oanda has crushed my spirits...... Also to add.... I need a broker that has cfds but also charges interest.....If the cfd broker at the end of the oil contract just makes the trader pound out and go into the new contract that does not work.....I need the blending and to never have to get out but to be forced with paying or receiving interest....... If anyone has any leads please let me know.....Also I should mention I am from Canada and they need to take Canadian traders. Cheers
No that is not the case. That is like a futures contract. With these guys you can trade micro lots....If you trade 1 unit of oil and it goes from $60 to $61 you make 1$. 1 tiny dollar....Its micro.... Thats the point. With futures its $1000.
Oh. Well, that is still weird. In CME speak, a micro is 1/10 the size of the main bit. So $1K in mini would be $100 in micro. You know, 1/10th. To bring $1k down to $1 would be 1/1,000th. That is like pico on that scale, hehe Pico lots!
Hey Overnight thanks for your interest in my thread.... Ya its totally cool they will let you trade in such micro lots....Sure Pico no idea what that means but ok! Ya and if you think the oil lots are small just imagine being in the EUR/USD and some traders can be long or short 1,000,000 units.....You can actually trade a 1 lot. I mean if it moves you are making a fraction of a penny....Its a bit crazy but super cool if you want to test a strategy but want real time......If you trade 1 lots and your strategy is terrible or your bot messes up you lose a few cents like who cares.....
Yes I average positions. And in regards to me saying at Oanda you can do 1 lots in everything. Its true but take for example currency pair like EUR/USD. I never do 1 lots in that, its pointless unless testing.... I just need a place that gives you the ability to do that... There are some places that allow you do 1000 minimum but thats to big for me...