Retest strategy has only 1 formula. Retesting is for clicking (opening orders). Or you can understand it more simply as all you need to do is to wait for the price retest, focus on signals, and open orders.
In this article, I will analyze in detail some orders using the Retest strategy in Olymp Trade. They are specific signals and how to open orders.
Notes: The title is just for bait clicking. With a capital of $50, doubling your Olymp Trade balance within 1 week is very simple.
Video on depositing, trading, and withdrawing money in Olymp Trade on June 1, 2020
Apply the retest strategy into trading in Olymp Trade
From $50 deposited in Olymp Trade, in 1 week of trading, the final balance is $179 ($177 principal + $2.5 bonus). But I only withdrew $100 to my Neteller e-wallet.
I would like to repeat the formula for the retest strategy in Olymp Trade. There are times when the price retests the support/resistance zones just broken with a Doji or Pin Bar. This is a safe signal for you to open an order.
The market does not always create retest points in accordance with the above formula. Therefore, you will have very few entry points to open orders. This is a great advantage of the retest strategy. The fewer transactions, the more secure your account will become. So, waiting patiently is the key to making money in Olymp Trade.
Method of capital management: As a new trader, you must never deposit more than $50 for the first time. At the same time, trade with a small investment for each order.
Olymp Trade transaction log for June 3, 2020
4 UP orders with the retest strategy: 3 wins and – 1 tie.
1st order: The price surpassed resistance and rose. It then retested with a Bullish Pin Bar candlestick. Opened an UP order with an expiration time of 5 minutes => I won.
2nd order: The price surpassed the peak (resistance) and rose. It then retested with a Doji candlestick. Opened an UP order with an expiration time of 5 minutes => I won.
3rd order: The price kept going up (Uptrend). It surpassed the peak and retested with a Bullish Pin Bar candlestick. Opening an UP order with an expiration time of 5 minutes => I tied.
4th order: The price retested the resistance just passed. It was not a Doji or Pin Bar candlestick (these conditions did not fit with the retest trading formula). Opened an UP order with an expiration time of 5 minutes => I won.
Why did I only open UP orders? The reason is simple, in an uptrend, only open UP orders. This is what I have repeated over and over in my articles.
This will be the first article for the Transaction Logs section. At the end of each week, I will review what I have done within the week. It is to see if I lose or earn money in Olymp trade.
All the strategies that can help you earn money in Olymp Trade are from there.
Goodbye and see you again!