OANDA Project

Here is the platform that we will be using.

www.oanda.com

Online Forex Trading & Forex Broker | OANDA

We need to familiarize ourselves with the OANDA FX trading platform.

We need to set up a ( free ) mock account in it and to view at least the basic informational webinars that they provide.

We need to select a set of ( at least ) four pairs of foreign currency pairs.

We need to monitor them

Alongside with monitoring and viewing this activity develop a hypothetical narrative from the perspective of corporate FX strategy, FX Hedging, FX arbitrage and speculation.

We need to describe how some of these practices and techniques may work using our "mock account" that OANDA provides.

This analysis of this project should be at least one written page, and a corresponding spreadsheet with the FX pairs we have monitored

( we DO NOT USE A LIVE / connected to our bank account / OANDA ACCOUNT )

Here is some additional information on OANDA as well as videos and links that can help us in understanding OANDA and FX markets:

 

We need to Use OANDA to analyze changes in currency exchange rates, review current currency positions, review past transactions, or issue buy and sell requests. Some of the key benefits of this platform include: It can be run on any of the popular web browsers connected to the Internet (or directly from any computer desktop connected to the Internet).Currency exchange rates are continuously updated and displayed in real time. All pertinent information appears in one window. All interaction with the server occurs over fully encrypted Internet connections. FX Game is the practice version of FX Trade. We can use it to trade under real market conditions with real prices and spreads at no financial risk, for as long as we want.

 

System Requirements The FX Trade platform can run on most browsers connected to the Web, or even from our computer desktop if we download FXDesktop.http://fxtrade.oanda.com/fxrex_tradin g/fxtrade/fxdesktop.shtml

For detailed hardware and software requirements, We need to go to the technical requirements web page. http://fxtrade.oanda.com/support/technical_requirements.shtml

What is oanda FX Trade? :

https://www.oanda.com/forex-trading/

Getting started: OANDA has tutorials that explains its uses, but here are some instructions:

We need to Place a Trade

1. From the Quote Panel, We need to click the buy or sell side of the currency we're interested in. An order window appears pre-filled with the correct buy/sell button and the currency pair.

2. We need to choose a market or limit order.

3. We need to Type the number of units we'd like.

4. For limit orders, We need to specify our target exchange rate and the length of time before the order expires.

5. Optionally, We need to specify upper and/or lower bounds, stop loss and/or take profit levels.

6. We need to Click Submit.

We need to Customize our Quote List

1. We need the icon just above the Quotes List box.

2. We need to Add all pairs, or just the pair we want.

3. We need to Click Save.

4. We need to Select Tools > We need to Save Current Profile (to save our layout for future sessions).

We need to Close a Trade

1. In the Trades table, We need to click the trade we want to close. The trade ticket window appears. (This same window is used for closing and modifying trades. By default, it is set to close trades.)

2. We need to Click Submit. (To close all trades, select Account > We need to Close All > We need to Close All Trades.)

we need to select and monitor at least four FX rate pairs, and keep a journal of all our FX trades.

we should include activity corresponding to an FX transactional risk hedge as well as FX translational risk hedge.

Answer rating: 100% (QA)

Here is a draft FX trading analysis using OANDAs mock trading platform FX Trading Analysis Using OAN... View the full answer