In the previous post, I have shown you how to trade in Olymp Trade with the Pullback candlestick. This is a candlestick that carries many effective trading signals that can help you open precise Fixed Time orders. In today’s article, I would like to share the practical effectiveness of Pullback trading strategy on a Real account in Olymp Trade. Stay tuned to find out if this is the trading strategy you are looking for to win in Olymp Trade.
Review a trading strategy in Olymp Trade with the Pullback candlestick on January 26, 2021
This article was written right after I had spent a day trading in Olymp Trade using the Pullback candlestick as trading signals. If you do not know what a Pullback candlestick is and how to trade with it, you can review my previous post on this candlestick here:
In this article, I will not go back to what is in the previous post. I will only review this trading strategy through orders opened on January 26, 2021. Along with that, there are a few notes to make this trading strategy more effective. Let’s analyze transactions in Olymp Trade on a Real account with this strategy.
Orders opened on January 26 with the Pullback strategy in Olymp Trade
I opened a total of 5 Fixed Time orders with different currency pairs. The result was 4 wins and 1 loss. I used the Classic capital management method with an investment of $20 for each order. The total profit was $44 (with an average payout of 80%). Let’s put the profits aside and start getting into each specific transaction. Because I know that this is exactly what you have been waiting for.
Details on Fixed Time orders opened on January 02, 2020
1st order: At the EUR/USD pair, the price was in an uptrend and broke out of the resistance to go up. Right after that, a Pullback candlestick appeared with a long tail pointing down to the resistance just crossed. Opened an UP order for the next candlestick. I won.
2nd order: At the EUR/AUD pair, after a decline from the morning session, the price showed signs of bottoming up and going up gradually. As soon as the price surpassed the resistance and went up, it retested this zone to create a Pullback candlestick. Opened an UP order. I won.
3rd order: Actually, this is not an order opened with a Pullback candlestick. The signal candlestick here was a retest Pin Bar candlestick. Regarding this case, I will clarify in the notes. Fortunately, the result was still a win with a profit of $16.
4th order: It was still with the NZD/CAD pair from the 3rd order. For this order, the standard Pullback candlestick appeared. There were enough conditions to open an order betting on the next green candlestick.
5th order: This was a losing order. The GBP/AUD pair moved with quite a large margin. I was quite hesitant in this case because the previous bullish candle did not really break out of the resistance and go up. Therefore, I lost in the last seconds when the price did not really surpass the resistance. I will elaborate on this in the notes.
At the end of the 5th order, I stopped trading and started writing this article. In addition to trading in Olymp Trade, I also have my main job. Therefore, in a day, I couldn’t spend too much time on it.
Some notes of the Pullback candlestick trading strategy
As you can also see, the signal that a Pullback candlestick can bring is very good. If you open orders correctly following this strategy, your odds of winning will be 80%. Of course, this statistic may have many shortcomings because I only counted it on 1 day. However, it is still a good sign that you can test for a large enough time to ensure if this win rate is stable or not.
Here are a few notes on this Fixed Time trading strategy in Olymp Trade using Pullback candlesticks. Please keep in mind carefully if you want to trade with this candlestick.
Note 1: A Pullback candlestick and a Retest candlestick can be different. This is exactly what I want you to note. For practical trading, you may often confuse these two types of candles. Remember, a Pullback candlestick is a candle that contains an entire adjustment and continues the trend of the price right after the breakout. The example below is a Retest candlestick, not a Pullback one.
Note 2: Ideally, a Pullback candlestick is created with the tail just touching the wick of the previous candle which has created the level. You can see it as shown below. This shows that, after breaking out of the level, right when the price recovers, it is pushed back by a strong force to continue the trend. Also, a Pullback candlestick without a wick will be much better.
In one word
Have you ever tested this trading strategy in Olymp Trade with the Pullback candlestick? If not, start today with a Demo account and then a Real account. With my trading experience, this is an effective strategy to trade Fixed Time. If you have ever traded with this candlestick, what is your result? Let me know in the comment section.