July 14th, 2010 @ 3:43 pm (GMT +8)
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Finally, after the launch of its mobile fxTrade for iPhone and iPad, Oanda unveils a mobile trading application for Android… To download the app, just go to Android Market and search for fxTrade…
I’ve always wanted to trade with Oanda because of their narrow spreads… However, their trading platform is one of the most primitive I’ve seen… their mobile platform (browser based) is worse… it’s basically a joke… You cannot do anything (such as adjusting your stop loss) except entering new orders or closing existing positions….
Luckily, with the launch of fxTrade for Android, Oanda offers a lot more flexibility for trading on the go… You can enter new orders and adjust the Take Profit, Stop Loss and Trailing Stop of your existing positions… My only wish is that they’ll allow partial close of our existing positions… That way, I can close half of my positions once my Take Profit is reached… and trail the remaining half…
Nonetheless, the mobile fxTrade is still an excellent application… a dream come true for me… Nice job done, Oanda… 
Oanda on Android
July 7th, 2010 @ 10:43 pm (GMT +8)
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Trading with Horizontal Support/Resistance
Trade Setup: Sell one pip below candle A.
Reason for trade:
- Green line is a resistance that became support
- Price made a weak attempt to reverse upwards prior to candle A.
- Candle A is a bearish outside bar, with a close near the low, indicating the strength of the bears.
July 7th, 2010 @ 1:09 am (GMT +8)
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Bull Trap
Candle A in the chart above is an excellent bull trap.
Firstly, candle A occurred near a bullish trendline and it seemed like price found support at the trendline. In addition, candle A is an outside bar and a strong bull candle. All these signals suggest that price might bounce off support and continue to rally.
However, that was not the case. Price moved up a bit, but then proceeded to fall.
One of the biggest clue to suggest that price will NOT rally and that candle A is merely a bull trap is the fact that previously, price failed to find support at the brown trendline. The brown trendline acted as a resistance initially. After price broke above the brown trendline, the line should change it’s role and function as a support. However, this did not happen in the chart above. Traders who were alert will probably detect that something is amiss, and will not be tricked into buying above candle A.
