How can you survive and make money in Olymp Trade? What is the biggest difference between gain and loss in Olymp Trade? This article brings you the hard-earned experience when trading in Olymp Trade of pro traders on the platform. These are the things that help them survive and make a steady profit. Let’s see what they are.
Trading experience in Olymp Trade to always be profitable in all situations
Although trading is always risky, the good news is that you can minimize them. This is the general principle for sustainable profit in Olymp Trade. We will take a simple example with a currency pair like EUR/USD with a payout of 82%. Out of 100 trades, even if you lose 40 of them, you will still make a profit. Here are the experiences you need to grasp to do this well.
Absolutely adhere to a trading plan that has been set out
It’s seemingly simple but this is what very few traders can do. On the contrary, the traders who make money accomplish this very well. Adhering to a plan with outlined goals means that you will have to force yourself to follow a path that benefits you. Trading is a job where self-discipline is what determines whether you gain or lose with the market.
The larger your trading account, the more chances you have of winning
Let’s take a simple example as follows: If you lose $10 when you have $1,000 in your account, you will not be too sad and will continue to trade as planned. But if you only have $100 in your account, this can be frustrating and can lead you to mistakes. Finally, it is to lose all the money in your account.
That’s not to mention the fact that in the first case, you have 100 chances to fix the situation. But in the second case, you only have 10 chances. The difference is absolute, isn’t it?
Adhere to the capital management rules and trading principles
Well, it’s about the rule and principle again, too many rules, isn’t it? But it’s not redundant for you. There are some principles of thorough capital management that you must be familiar with as follows:
+ The investment amount for one transaction cannot exceed 5% of the account.
+ Do not open many orders at a time.
When you reach your daily loss limit, you must stop.
+ Follow the capital management methods outlined in the original plan: Classic, Martingale, Snowball, etc.
Determine the maximum loss level in a trading session – Professional stop-loss experience in Olymp Trade
This experience is part of your capital management rule. In trading, traders often call it the “pain tolerance” of each trader. The maximum loss level is the maximum level of loss without affecting your psychology and emotions. When you reach this limit, you have to stop. Because then, emotion is the decision-making thing, not the reason anymore. Each person has a different pain tolerance. Try to figure out what your tolerance is.
Make it a habit to analyze everything before and after trading
Just do this for both profit and loss. It is important to understand how to re-succeed as well as to avoid making the same mistake. This experience helps you improve every day in Olymp Trade. Many people turn off their computer after a session and refuse to find out why the results are like that. In trading, you always have to know how to analyze and answer everything to understand your shortcomings.
Learn to control your own emotions
When you have a lot of emotions, whether positive or negative, they all obstruct your trading. Joy, sorrow, frustration, and fatigue all lead to mistakes. If they appear during the transaction, then stop. If they appear before trading, do not start. In Olymp Trade, in my experience, you can only trade well when you have the most comfortable and confident mood.
And never stop learning and developing yourself
The market changes every day so you need to study it constantly. Never satisfy yourself with your current self in trading. Because every passing day, there are many things that can help you trade better. It may be a new indicator, a new candlestick pattern, or a new signal.
A lot of things can improve your money-making skills in Olymp Trade. And if you own a VIP account in Olymp Trade, do not hesitate to contact your own manager provided by the platform. They will give you the most dedicated and specific advice for you to maximize your profits in Olymp Trade.
Summary of trading experience in Olymp Trade
The truth is that there are still people who are making money steadily every day in Olymp Trade. And I am sure that they all have to apply some of the above rules. Practice more to be perfect and responsive to entry points with a high win rate. When you have a strong will, everything will support you. Goodbye and see you again in the next articles.