OANDA open positions indicator saved me a fortune yesterday!

lordgeorge

Newbie
9 0
I always check it before I enter trades, I guess it's sort of similar to the COT indicator, I use it as a 'dumb' indicator (if 90% of traders lose, and yesterday
morning it saying 93% of clients were long eur/chf then who exactly was taking the other side lol) that stopped me going lol eur/chf when it was at the floor

only downside is I didn't have the confidence to go through with a usd/chf short,
was so close to opening one :(
 

Forexmospherian

Legendary member
39,928 3,301
I always check it before I enter trades, I guess it's sort of similar to the COT indicator, I use it as a 'dumb' indicator (if 90% of traders lose, and yesterday
morning it saying 93% of clients were long eur/chf then who exactly was taking the other side lol) that stopped me going lol eur/chf when it was at the floor

only downside is I didn't have the confidence to go through with a usd/chf short,
was so close to opening one :(

Hi lordgeorge

Remember though the total retail trader base is only about 5% -8% of the market top

So if 100% retailer fx traders on all brokers throughout the world were in one direction and Oanda's customers are only a small percentage of retailers - then still 90% of the commercials and players could be in the other way

I appreciate this was not the case on the Swissy etc - but dont get fooled by these guides - even the COT - they can all be tricked and mostly are ;-)

Good Trading


F
 

lordgeorge

Newbie
9 0
Hi lordgeorge

Remember though the total retail trader base is only about 5% -8% of the market top

So if 100% retailer fx traders on all brokers throughout the world were in one direction and Oanda's customers are only a small percentage of retailers - then still 90% of the commercials and players could be in the other way

I appreciate this was not the case on the Swissy etc - but dont get fooled by these guides - even the COT - they can all be tricked and mostly are ;-)

Good Trading


F

that's a good point and interesting, I think I enjoy learning about the markets
about as much as trading lol, cheers :)
 
 
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