At the end of the 3rd week of September, it is another week that I have made a profit from Olymp Trade. Today, I would like to share with you some tips to make money in Olymp Trade. For me, it is not too difficult if you have enough patience and discipline. I believe that if you read this article carefully enough and follow it, you will definitely make money from this platform.
The point is whether you or I can do this on a regular basis. Many of my friends who are traders of the Olymp Trade platform said: Making money from Olymp Trade is difficult but maintaining it every week or every month is even more difficult. I think you’re thinking the same way. I hope that at Howtotadeblog, we will help each other do it.
Tips to make money in Olymp Trade: Trend catching and compound interest
“The trend is a friend.”. Certainly, when you are new to the trading career, you will hear this saying. The trend is your friend. I don’t deny this. But few people teach you how to find this “friend”. Or sometimes, you have found your “friend” but you still cannot make any money at all. Then this article is for you. Let’s see how I did it.
Trend catching skills in Olymp Trade
Talking about trends, you will be taught like this: When the price makes the higher peaks after peaks and higher troughs after troughs, an uptrend appears. The opposite is for a downtrend.
The problem, however, is that when the price is going like this, how do we know if it will continue like that? A breakout is enough to break a trend. There is a paradox like this: “Early prices of the trend are where the price most likely goes in the right direction but we do not have enough conditions to determine a trend.”.
So, the key to catch the correct trend is to act at the first prices generated. If you catch it correctly, the trend will definitely help you make money.
Tips to make money fastest in Olymp Trade: Add up capital and profits for the next order
This is the fastest way to bring money to your pocket. However, the risk is very high. Just one losing order will bring back to the beginning. Therefore, please open at most 4 orders with this strategy. The compound interest from adding up of capital and profits will bring you huge profits after a few consecutive winning orders.
If you do not understand how to do this, see my example.
I deposit $500 into Olymp Trade. I will divide it into 5 separate orders. The initial investment for each order will be $100. After each winning order, I will combine capital and profit for the next order. If a losing order occurs, I will return to the initial order at $100. And fortunately, on the first day of the 3rd week of September in Olymp Trade, I had 4 winning orders in a row. The profit was $990.
Again, with this investment method, you will easily lose on your last orders because:
+ The transaction amount will be very large.
+ If you trade following the trend, the losing probability will be higher for later orders. The first orders will have the highest chance of winning.
Review orders opened in Olymp Trade on the 3rd week of September
In this part, as usual, I will describe in detail the trades I opened in Olymp Trade. Please read it carefully as it will be very clear why I opened the order. This is a very important trading skill which you need to be able to make real money in Olymp Trade.
I opened only 4 orders on September 14 that earned me $990. Regarding all of them, I traded according to uptrends and the retest of price. For trend trading, opening orders at the price retests is the safest and most effective. Let’s go through each order clearly together.
Details of orders on the 3rd week of September in Olymp Trade
1st order: The red bearish candle touched the support when the price had previously had a strong uptrend. Initially, the price created a strong red candle. It then pulled back upward, leaving the shadow only. This was a signal that the sellers had lost their power completely at this support. Opened an UP order to bet on the next green candlestick. I won.
2nd order: This order was the same as the 1st order. The price created a pullback candlestick at the support zone. Opened the next order to bet on the next green candlestick. I won.
3rd order: The Bullish Harami candlestick pattern appeared as soon as the price retested the support just passed. Combined capital and profit to open an UP order for the next candlestick. I won.
4th order: The amount of capital I used for this order was up to $600. This was not a small amount for a FIXED TIME transaction. Fortunately, this was a very familiar signal to me in Olymp Trade. The Doji candlestick appeared at the retest of the price. Opened an UP order to bet on the next bullish candlestick. I won.
The discipline for making money in Olymp Trade with tips on using trends
There are a few things you need to keep in mind when trading with trends in Olymp Trade.
+ Do not trade against the trend. The trend is just like a moving train. If you block its way, it will crush you to death.
+ The longer the trend goes (the more price levels it reaches), the higher the possibility of being broken will be. Trading with 2 or 3 peaks or troughs is best when there is a trend.
+ The retest at price levels is the safest for you to trade. If it doesn’t appear, wait for it to appear. Or you don’t need to do anything.
I hope that the tips I just shared with you through this article will make your trading to make money in Olymp Trade easier. Be persistent. We will always support you. Keep giving away and we will get something back Please share these articles with those who need it. Goodbye and wish you a successful transaction.