So we have officially closed 2020 and entered the new year 2021. The new year 2021 with many hopes and beliefs for everyone. The last year is a year full of uncertainties and difficulties caused by epidemics and crises. On February 13, I spent an afternoon in Olymp Trade with Fixed Time transactions for the beginning of this new year. What is your plan for 2021 in Olymp Trade? This article will help you. Let’s follow up and build your own plan in Olymp Trade.
Lunar New Year opening transaction in Olymp Trade
I chose the 2nd day of the Lunar New Year which was Saturday to start a new trading year in Olymp Trade. Since it’s Saturday, the OTC market was the only place where you could trade. I originally planned to resume trading the following Monday. However, I hadn’t had the opportunity to experience OTC in Olymp Trade yet. Therefore, I also wanted to check whether I could make money or not.
Below are the orders I opened on the 2nd day of the Lunar New Year in Olymp Trade.
Let’s not talk about the strategy I used. Perhaps, in the following article, I will share with you this trading strategy. This article will only mention the trading plan in Olymp Trade for 2021. Stay tuned!
Why should we have a trading plan in Olymp Trade for 2021?
Although it is a new year, this is still an old story I want to remind you of. Making money is a plan. The more detailed your plan is, the less risk it will put on your money. And without a plan, you won’t make any money. So what is the trading plan in Olymp Trade? What do you need to do to build it? Please answer the questions below to find the answer.
How much money can you spend on Olymp Trade?
$500, $1000, or $2000, etc. Write it down and make a capital management plan for it. This is the most basic when you start investing in something. A specific number for Olymp Trade is a good way for you to stop with this money-making game.
Suppose, when you lose all this money, you also know that you have to stop. You should not put money into Olymp Trade anymore. That’s how you detach from your emotions and inhibit revenging. If you do not do this, the circle of losses => deposit => loss may cause you to lose everything. Don’t be so dumb because you have so many ways to make your money multiply.
What is your desired profit?
How much profit do you want to achieve in Olymp Trade? How is the profitability rate per month? 15%, 20%, etc., this is an extremely important number for your account. Because it depends on your ability to trade in Olymp Trade. Earning 5% of your capital in 1 day in Olymp Trade is easy to do. However, achieving this in 1 month, even 1 year is another story. Remember, the higher the return, the greater the risk.
How to make the target profits not affect your trading sentiment
If you are new, your trading knowledge and experience are not much. Please set the desired profit fair enough. This will make you feel good mentally. Don’t force yourself to high goals. If you are a longtime trader at the platform, you can level up your goals to improve your income. But remember, high returns always come with great risks.
What should be done to improve psychology when trading?
This is also one of the answers that should be in your plan. You need a method of psychological stabilization before and after trading. This is a tip to avoid falling into the emotional traps of the platform or whatever keeps your trading psychology at a steady level. That’s what you need to figure out.
For example, my trading tip is that after 3 consecutive losing trades, I will stop trading and come back the next day. You can completely follow if you do not have any method. Remember, emotions are our biggest enemy in trading. People who make money in the market are the ones who are better at restraining their emotions.
Do you record a transaction log?
In many articles, I have talked a lot about this. Your transaction log will make you become better than you were yesterday. Transactions, mistakes, experiences are what you need to keep track of. These things will help you become more professional and “alert” in trading. So, record your transaction log every day if you are trading in Olymp Trade.
Summary of trading plans in Olymp Trade for the new year 2021
2021 has come and brought with it a lot of hope for a year of economic recovery and global growth. You can also expect a big change in your financial situation with Olymp Trade. Just don’t give up and be willing to recognize your mistakes and correct them. It is entirely within your power. And do not forget that howtotradeblog will always be with you in the journey to achieve that goal. Goodbye and see you again.