Discussion in 'Forex' started by dugan, Dec 29, 2005.

  1. dugan


    I use Tradestation for futures trading and decided to try my system on forex.

    I have noticed that the price that TS is displaying for GBP/USD and what my broker, Oanda, is listing is different.

    Perhaps Im just a moroon. I know there is a 3 pip spread on GBP.. but then the Bid/ask is seperated by 4 pips as well.

    That makes the price off by 7 pips... thats is huge unless im going for 100 pips at a time.

    for instance - at this moment (12:07 EDT US).. TS states price as 1.7260.

    Oanda shows it as 1.7263 / 1.7267

    So I went short at 1.7263 at 11:20ish... with spread makes me short at 1.7260. Now that TS states it has come back up to 1.7260 - But Oanda shows I am -7 pips instead of BE. Seems hard to make money. I should probably stick to futures... Im always filled at the price my charts say and I know to subtract (or add depending on how I did ) $3.50 for comms.

    Could someone give me a quick overview on forex pip spread?

    I am obviously not getting something.


  2. Very smart remark. What are you waiting for to return to futures?
    At least you will be treated in a more correct way in the futures market.
  3. skepticaltrader

    skepticaltrader Guest

    The reason you see the prices updating more quickly on your TS is because you are comparing a composite price feed that may be taking in quotes from 150+ banks to an actual market maker's feed where Oanda might deal from say 14 banks. Oanda's feed is real time, and another major difference that you see is that the quotes in Oanda's dealing station are executable prices.

    Hope this answers your questions.


  4. mmillar


    With spelling like that, yes you are.

  5. dugan


    With spelling like that, yes you are.

    good one mmillar :D

    Im pretty hard on myself. But even I felt it would be a bit harsh to call myself a moron because I did not undertand the price differences at first glance. That is why I proposed the term moroon... as in " ultra moroon" 1st termed by Bugs. (Bugs Bunny for those that didn't grow up with color TV.

    Thanks ST. That does help a bit. But still wondering why highs and lows would be off as well.. even if taken from a smaller sampling? at 11:13 TS shows high as 1.7279 while Oanda shows high at 1.7282.

    Eur does better.. as most times TS will show price as say 1.1840 and Oanda will have bid ask at 1.8939 and 1.1841. But currently it is 5 pips off as well. Going to have to increase the ticks on my charts if I hope to make an cash through that kind of discrepency.

    Thanks all

    ps - S@1.2760 wasn't such a bad trade - even with the differing quotes.
  6. skepticaltrader

    skepticaltrader Guest

    The high's and low's from Oanda's quote is from their banks that they use. The high's and low's from TS are from the highest high from the say 150+ bank composite feed that TS uses.

    BTW, I don't use TS or Oanda for my data feed. I've been using e-signal and its the same way.

    The prices that you should rely on are from Oanda not TS.

    Its real hard trying to daytrade the Forex market. You're better off using a longer time frame chart to trade off of. :)