Oanda forex blog sites

Price - The average price achieved for multiple purchases. Current - The current sell price. As you can see in the following code, these attributes have been reflected in the members of the Position class, with the exception of "Type", which I have renamed to "side", since type is a reserved word in Python! In future articles I will extend the Portfolio object to handle multiple base currencies and multiple currency pairs.

Let's now discuss how to setup a basic virtual environment for Python and then how the Portfolio works. Virtual Environment Symlink In the following Portfolio object module I have modified how the imports are handled. I've created a virtual environment, whereby I have added a symlink to my qsforex directory. This allows me to reference a nested hierarchy of project files within each Python module. This allows me to reference, for instance, from qsforex.

Currently it is Note that this figure will not dynamically scale with the size of the account balance, it will only use the initial account balance. Later implementations will incorporate more sophisticated risk and position sizing. I have not used the bid and ask prices here directly because the addition and removal prices will depend upon whether the side is "long" or "short". Hence we need to correctly specify which price is which in order to obtain a realistic backtest: portfolio.

In order to do this we need to calculate the new average price of the purchased units. It takes SignalEvent objects created from the Strategy objects and uses these to generate OrderEvent objects to be placed back to the events queue. The basic logic is as follows: If there is no current position for this currency pair, create one.

If a position already exists, check to see if it is adding or subtracting units. If it is adding units, then simply add the correct amount of units. If it is not adding units, then check if the new opposing unit reduction closes out the trade, if so, then do so. If the reducing units are less than the position units, simply remove that quantity from the position.

However, if the reducing units exceed the current position, it is necessary to close the current position by the reducing units and then create a new opposing position with the remaining units. I have not tested this extensively as of yet, so there may still be bugs! Now we discuss the event handling. Event In order for this Portfolio to function with the new means of generating signals and orders it is necessary to modify event.

In particular I've added the SignalEvent component, which is now generated by the Strategy object, instead of an OrderEvent. It simply states whether to go long or short a particular "instrument", i. In particular, it now needs to generate SignalEvent events instead of OrderEvents. I've also changed how the "strategy" actually works. Instead of creating random buy or sell signals, it now generates a buy on every 5th tick and then becomes "invested".

On the next 5th tick, if it is invested it simply sells out and becomes "uninvested". This process repeats indefinitely: from qsforex. I've simply modified the StreamingForexPrices in streaming. Trading The final set of modifications occur in the trading. Firstly we modify the imports to take into account the new directory structure and the fact that we're now importing a Portfolio object: from qsforex. Empty: pass else: if event is not None: if event.

Create the portfolio object that will be used to compare the OANDA positions with the local, to ensure backtesting integrity. Environment Variables in Settings I also mentioned in the previous article that it is not a good idea to store passwords or other authentication information, including API tokens, in a version controlled codebase.

These can be stored in a suitable environment file that is loaded on boot-up of the system. In Ubuntu, you can use the hidden. As I've stated before in the previous entry , it is very easy to lose money with a system like this hooked up to a live trading account! Make sure to view the disclaimer in the post as well as be extremely careful with your own Strategy objects. I highly recommend trying this on the sandbox or practice accounts prior to a live implementation.

However, before you go ahead and implement this with your own strategies, I'd like to discuss where I think some of the differences between the OANDA account balance and my calculated balance are arising from. Possible Sources of Error As the implementation of the systems become more complex, there is a greater risk that bugs have been introduced.

I have used some unit testing in order to check the Position and Portfolio behaves as I expect, but there are still discrepancies between the local portfolio and the OANDA account balance. Possible reasons for this include: Bugs - Bugs can obviously creep in anywhere. The best way to eliminate them is to have a strong specification upfront about what the program should do and create solid unit tests.

I've carried this out for some classes, but not all. Further work is required to have all classes unit tested to a good specification. Rounding errors - Since I am using floating point variables to store all financial data, there will be errors in rounding. The way around this is to use Python's Decimal type. Later implementations will utilise the Decimal. Slippage - Slippage is the difference between the price that the strategy object saw when deciding to buy or sell and the actual price achieved when the broker executes a fill.

Given the multi-threaded nature of the program, slippage is extremely likely to be one of the causes of the differences between the local balance and OANDA account balances. I will be investigating these issues as I continue to work on the forex system. In the next diary entry I will discuss my progress. What's Next? In later articles we are going to discuss the following improvements: Differing account balances - The first task is to determine why the account balances differ between OANDA and this local implementation.

The screen quickly becomes crammed with information, making it difficult to actually follow the many data points that you can summon up. OANDA offers basic trading options and investors can pull up their trade execution screen directly from pricing charts. Within this field you can choose basic limit and stop orders, as well as stop limit and take profit orders. This is a standard set of options. Unfortunately, OANDA does not offer some of the more complex trading orders that many other forex platforms support, such as conditional and intelligent orders.

Finally, OANDA has an outstanding set of educational tools for both learning about the forex market and conducting fundamental analysis. This is particularly true of Market Pulse, an extensive site dedicated to news and education on the subject of currency trading, as well as the OANDA newsfeed.

From the user end side of things, there are largely four types of fees to look out for: Trading fees. Any form of fee attached to each trade that you make. This is the difference, if any, between the buying and the selling price of an asset. Trading commissions. This is when a broker will charge you a percentage based on the volume or value of each trade.

Inactivity fees. Any fees that the broker charges you for not trading, such as if it charges you for keeping money in a brokerage account. Any form of fee for trading on this platform not covered above. For example, a brokerage might charge you for making deposits into your brokerage account or taking money out. In foreign currency markets, prices are almost always expressed out to four decimal places. This means that a single pip will mean 0. This can also be referred to as one basis point.

Note, however, that a pip does not always have to mean 0. A pip is defined as the smallest unit of change for a given asset regardless of how that unit is measured. If, for some reason, a particular asset were measured in tenths of a cent, then a pip would mean 0. As is common with forex trading platforms, OANDA charges a per-trade commission based on the bid-ask spread.

This can make pricing difficult to pin down given that the spread on any given pair of assets is in constant fluctuation. Common currency pairs will also tend to have lower spreads than uncommon ones. The upshot is that what you pay on OANDA, as with any currency site, will depend on what you trade and when. OANDA offers two account models with different pricing structures.

Its spread-only model has higher bid-ask spreads, and investors only pay those commissions.

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As soon as the account is confirmed, login information will be provided and you will be asked to wire funds to open your account. Users interact with the same features as are available with active accounts, including the same user interface features. FXGame also allows users to access news, analytical tools, charts and other tools and data available to users of the actual trading platform.

OANDA spreads are based on real-time market values and events and are widened during non-trading hours, such as weekends and certain holidays, as well as during periods of high volatility, such as during news release events. Trailing Stops Trailing stops are fully supported by the OANDA trading platform, and are defined during account set-up in the user preference options. Trailing stops can be set with a lower limit of 10 pips and an upper limit of 1, pips.

Bottom Line Offering fully automated, real-time currency trading with no restrictions on account or trade size, OANDA has quickly risen to become a favorite among both large-scale and small-scale traders, including individual forex traders. Its state-of-the-art platform and continual search for new technological applications to make trading easier and more transparent keep it among the top account providers for online interactive forex trading.

Sponsored Offers. Between the HD video reviews, market comments, trading psychology tips, and the technical education offered on this blog, David really did a great job separating himself from the pack. The site is updated regularly, and offers a perfect blend of the different types of information Forex traders need.

Below you can read the interview I conducted with Zachary: 1. Before becoming involved inFforex, I was involved in website design and business development. I started the blog so I could keep myself abreast of the important forex news of the day and it has expanded into a full website now. I think someone should read the blog or visit CountingPips because we are always improving our content and trying to upgrade our site features.

There are so many currency pairs to trade and so many strategies and styles to trading one can seek to implement. The round-the-clock trading during the week makes for constant action and it is global and not confined to any one timezone.

I find the forex market fun, challenging and a constant learning process. Conclusion: Counting Pips includes a blog, analysis, and articles section offering its readers a wide variety of information depending on their interests. Each one of those categories includes well written and interesting content, with charts, multimedia such as videos, and detailed updates of the Forex market.

Counting Pips is a great source of information for anyone interested in Forex. Although I did say that Counting Pips is generally targeting more experienced and knowledgeable traders, almost anyone interested in the foreign exchange market can find something useful on Counting Pips.

It might not be in the analysis section, but the articles are very interesting and are written in a way that you feel like they were written for you. Zachary did a phenomenal job at making Counting Pips a reliable source of Forex information. In fact, as opposed to all the other blogs we have reviewed in the past, for which the process involved communicating with one or two bloggers, in this case, I corresponded with the official account of the site and it was al a lot more formal than in the past.

The site is maintained by three main writers, and the team as a whole supplied the following answers to my interview questions: 1. Please tell us a bit about yourself and the contributors to the blog. The team is located in Toronto, Canada and has a combined 45 years experience in the capital markets. Alfonso holds an MBA and worked as a currency trader for five years where he was responsible for the emerging economies desk.

Scott has covered many markets, including equities and futures, but has concentrated exclusively on the forex market since joining OANDA in In , OANDA launched the first version of its currency blog and Dean moved his daily outlook to the blog as part of the launch.

We have also created Twitter accounts and have several interactive tools in development that we hope to add to the blog next year to further enhance our ability to share information critical to the success of all forex traders.

We have a mix of institutional traders, international firms engaging in currency hedging, and private individuals — which for lack of a better term — we call our retail traders. For the most part, our retail traders are non-professional and vary in experience all the way from novices, to former professionals.

As you can imagine, having such a varied client base means we have a wide-range of needs to address. For this reason, rather than writing a piece that may only be of interest for one particular type of client, we try to produce content and analysis that we believe provides an accurate assessment of what is happening in the markets, as well as the potential impact a particular news item or the latest economic indicator could have on exchange rates.

Our traders can then use this information to formulate their own opinion and position themselves in such a way as best meets their trading objectives. The simple truth is that as active traders ourselves, we pay very close attention to the news and when we come across something that we feel is especially relevant, we make sure to highlight it in our blog or Twitter page. We attempt to provide a condensed version of the story, yet still pass on the level of detail necessary to enable our traders to make informed decisions.

From just this one column, you can quickly see what happened in the European and Asian markets ahead of the North American open when volatility tends to be at its greatest. Alfonso reports on Central Bank actions, while Scott produces commentaries in the Market Pulse column that takes an in-depth look at the most important topics driving the markets. And finally, all three writers continually update news and Twitter feeds with intra-day events as they happen.

A quick glance at the Forex News Update section of the blog is all you need to keep abreast of changing conditions that affect currency exchange rates. Trading tends to be centered on a handful of currencies i. The rules that restrict short-selling in other markets do not apply when dealing in forex, which means that it is possible to profit no matter which direction the market is running.

From a cost-per-trade standpoint, trading forex with a web-based broker is the most cost-effective form of trading as it is based entirely on the spread. In addition, forex brokers also offer varying levels of margin-based leverage which, when used appropriately, enables you to trade values considerably higher than the actual deposits in your account. Taking all these advantages into consideration, we honestly believe that this is an exciting time to be trading forex. The team is very professional and clearly invest a lot of resources into the blog and its day to day maintenance.

Disadvantages: If I had to name one, I would have liked to see fundamental tutorials that a complete Forex beginner would find useful. Conclusion: I think it is very clear we are dealing with a world class Forex blog that is probably the most professional Forex site we have reviewed to date. Any and all information you would need about OANDA was covered in the answers above, which is a clear indication of the thorough and professional level at which the OANDA team conducts itself. Additionally, it would help for a lot of the bloggers we have reviewed in the past to learn from the level of this blog, both in terms of its content, design, and general level of professionalism.

The site is modern and eye-catching, something you will notice as soon as you first access Big Bruv Chronicles. Please tell us a little bit about yourself including your name, your profession "I used to work in the finance industry as a risk analyst but now trade full-time.

I started as an investor 10 years ago investing in equity but after i wanted to be more involved and take advantage of volatility.. Forex got my attention". I want people to say" Here are some advantages and disadvantages. We found Big Bruv Chronicles to be a very informative blog if you follow it regularly.

Blog Review 9: UltimateForexReview This week we will be reviewing a Forex blog run and maintained by what has to be the youngest Forex trader. Samuel Cimamonti is only 16 years old and has already made himself a name as a Forex blogger.

He is not new to the market, and he shares his insights on his blog Ultimate Forex Review. The following is the interview I conducted with Samuel: 1. I started learning the forex in November , then I opened a demo account and from this moment on forex became a sort of hobby actually! I've always been interested in the finance field and I must admit that the currency market is a kind of "passion".

As you know, I'm currently trading in order to test all the methods I review but I'm also trading my personal account. The purpose of the UltimateForexReview Blog is to highlight which forex products are the best and which are the baddest.

It represents a big amount of work, but seeing people happy about my work is really encouraging. I mean, few products are great but actually, the big majority is terrible That's sad because most people are not aware about that and most of the time they are scammed. I created this website in order to help them find the right products.

To make a long story short I would say that people should read my blog because I think it provides reliable and unbiased informations for them to figure out in which forex product they might invest their money. I mean, it's an almost unregulated , no one can corner the market, it's easy to open an account and there's almost no commission or extra costs. Of course, in order to become a "decent" trader, you'll have to work, invest some money, learn, learn and learrrrnnn.

But in the end, when you know how to use it, that's really rewarding as it is an amazing way to make money and become more independant. Advantages: Attractive design, variety of content types, interesting writing style Disadvantages: Not updated frequently enough, a few empty categories, Occasional writing mistakes Conclusion: Ultimate Forex Review is an impressive blog with a nice design and a significant amount of content.

You can find articles ranging from advice and tips all the way through Forex methods or book reviews. Samuel writes in English even though it is not his mother tongue, an impressive accomplishment on its own, but a factor that does bring down the English level of the blog, although not by much.