“You will only lose money on things you don’t know.” There is such a truth in investing – In which, money makes money. The only way for you not to lose money is to understand what you are putting your money into. Making money in Olymp Trade is the same. I have lost a lot of things for the things that I “didn’t know” here. Today, I’m going to give an example of how important it is to understand what you’re investing in.
Making $100 a day in Olymp Trade is not too difficult when you really understand Olymp Trade and what you are doing with it. Stay tuned to see how I did it.
Make $100 a day with a downtrend in Olymp Trade: Be persistent and the money will come to you
My trading formula in Olymp Trade during the past time is still only one: retest and signals. This strategy has been mentioned by me in many previous articles that you may have come across. The price retest is an action I have studied very carefully. After breaking out of a level (resistance or support) and creating a trend, the price will surely retest. The thing is, do you have the patience to wait for it to happen or not?
If the price keeps breaking out of levels and retesting, we have trends. And this is the ideal condition for you to make money in Olymp Trade. Let me repeat once again: this is the most ideal condition for you to make money in Olymp Trade.
However, if the price is always “good” like that, everyone will make money, right? There are many cases where the price fakes a breakout. At that time, you will need a signal to ensure that the price will retest and revert.
The two Pin Bar or Doji candlesticks are the ideal signals in this case. Please remember that these are 2 candlestick patterns that show market struggles. If the market struggles at the levels, it will definitely have to turn around. This is when we “pull the trigger”.
As such, I will only act when: We have retest + signals.
Signals here are Doji or Pin Bar candlesticks.
Trading results using retest in the downtrend on August 10
This is my profit after a long day of waiting for trends in Olymp Trade. Trends and retests appeared at the end of the first Monday of the week. It must be said that trading is a very boring job when there are times when you do nothing but wait all day. But in return for that boredom, you will find it very hard to lose money.
On the morning of August 10, I deposited $600 for 5 transactions (4 wins and 1 loss). I earned $114. I withdrew both capital and profits at the end of the trading day.
Here is a history of opened orders. End of day orders earned me $114 on August 10.
A detailed review of trading orders on August 10 in Olymp Trade.
We have the EUR/USD pair, a 5-minute candlestick chart, a 5-minute expiration time, a trendy market, retest of price. You see, all are familiar. And especially, I know these things very well.
If you do not understand this strategy well, please review my following articles:
These are the orders that I opened. All are Fixed Time Trade orders following the 5-minute candlestick color.
When the price goes in a downtrend, you can only open a DOWN order. This is the rule if you do not want to lose money for the market. Here I will explain each order in detail for you to understand more clearly why I opened these orders. Stay tuned!
Details of orders opened in Olymp Trade on August 10
1st order: The price broke out the level and went down. A Bearish Pin Bar candlestick appeared with its tail located right at the old level. Opened a DOWN order for the next candlestick. I won.
2nd order: The price continued to break out of the level and went down. It then returned to retest with a green Doji candlestick. Predicted the next candle to be red. I lost.
3rd order: Although the 2nd order lost, the price again created a new Doji candlestick right at the level. Again predicted the next candle to be red. I won.
4th order: With the same old habit, the price again broke out of the level and went down before retesting. This time, the price created a Bullish Pin Bar candle. However, I still opened a DOWN order for the next candle because the price was in a downtrend. I won.
5th order: The price again broke out of the level and went down. It then slightly recovered and retested the level with a Doji candlestick. I opened a DOWN order betting on the next red candle. I won.
After this order, the price still broke out and went down, but there were no more Pin Bar or Doji candlesticks to appear. With 4 winning and 1 losing orders, I stopped trading and withdrew money to my bank account. Right and enough, I turned off the computer and got rid of Olymp Trade. Traders are such boring, guys.
The last line
What can you see through this article? Have you made money in Olymp Trade yet? Or are you still wondering why you still lose money for it? Let me repeat: you only lose money on things that you do not clearly understand. Find a strategy to trade in Olymp Trade and practice with it thousands of times. Surely, you will be successful. We will also offer many more ways to make money in Olymp Trade. Stay tuned! I wish you successful transactions.