When you decide to start trading in the Olymp trade platform, many benefits await you. Olymp trade is an online broker established in 2014 by Saledo Global LLC. They supply world-class trading services and have exciting options to choose from.
Olymp trade is operational in 194 countries and they localized their interface in about 13 languages. They also offer 80 instruments including forex, shares, cryptocurrencies, indices and commodities.
Olymp trade platform is not regulated in Europe and North America but they are a member of the financial commission since 2016. This membership is issued to a few companies and they are in charge of protecting the customer interest. The FinaCom covers each trader to the tune of €20,000 if it falls within the compensation fund.
How To Trade With Olymp Trade
To start trading with the Olymp trade platform and start making money, you must have an account with them. Once you register on their site, you will get a free demo account plus a free $10,000 to trade in the demo account. As a beginner, you stand a chance of benefiting from their 50% bonus on your first deposit.
After registration, download the mobile app on your device. Olymp trade platform has one of the best mobile app interfaces so navigating through it won’t be difficult. Before funding your account, you will need to master how to trade, which is the essence of a demo account.
The idea behind trading in the stock or forex market is to predict the price change of a particular currency or asset. To make money off the market, this prediction must be correct. Sometimes, the prices of these assets fluctuate so you will have to make an accurate prediction if the price will pump or if the price will dump.
For example, you buy a currency pair of CHF/USD. You will need to predict accurately if the price of the currency will rise using the long option. When you long a currency, you are simply predicting an appreciation in the price for that currency. Assuming the price climbs above the price at which you bought it, you will be in profit.
You can also short the currency pair. Shorting the currency pair implies that you are predicting that the currency will depreciate. When the currency goes below the price you bought it, you will also be in profit. So the aim is to predict correctly the movement of the market.
Olymp Trade Tools
The following are some tools and options which you can harness in the Olymp trade platform to maximize your chances of making money;
- Fixed Time Trade (FTT)
A fixed-time trade is defined as a prediction of a trader on the movement of a particular asset price over a specified period. In a fixed-time trade, profits can be significantly made by simply predicting the direction of the chart.
For example, when using the fixed time trade option, you have to predict if the dollar against the Japanese Yen would rise or fall over a specified period. If within that period your predictions didn’t come through, then you would be at loss.
In Fixed time trade, incomes and risks are preset in advance so each trader knows the amount he might earn or the amount he might lose. When you subscribe to the VIP account, the profit ratio can be increased up to 90%.
As a trader, you must have a trading strategy to make money in the Olymp trade platform. It is not rocket science or magic where you can transform your $100 portfolio to $100,000 overnight. You need to study the market to get out a good deal that is profitable to you. Finding the best point to make a market entry can also be very important in your quest to make more money.
- Relative Strength Index Strategy (RSI)
In the Olymp trade platform, algorithms are usually used in trading. At the end of the day, the formation of certain rules would determine how buying and selling will be carried out. So the efficient strategy is using the relative strength index for trend reversals.
Using a time limit of M1/M5 is recommended when you want to open a trade of at least 10 minutes. But then you cannot open trade of a shorter time limit say 45-60 seconds because of the activities of the high-frequency exchange robots. Therefore, inexperienced traders are advised to avoid predicting a high-frequency operation especially when it is within a shorter time frame.
- The Night Strategy
The algorithm strategy is a good method of trading in the exchange market. But some currency movements occur within a certain period. For example, some currency pairs are streamlined around the night period and they move between their surroundings.
In forex, it is nearly impossible to earn at this time because of large spreads in the market. But when you trade in the Olymp trade platform, you have the advantage of using the fixed-time trade to manoeuvre this challenge.
How To Open Deals In Olymp Trade
When you trade with Olymp trade, you need to consider the strategy of opening deals. An option is making a sale from the upper borders and buying the low in a channel chart. You can also choose to buy from the uplink from the lower limit. Ideally, the expiration time is set on the platform to like 5 minutes to 10 minutes depending on the peculiarity of the price.
Advantages Of Trading With Olymp Trade
Trading with Olymp trade is filled with many advantages. One advantage is that they are an ambitious trading platform that seeks the best interest of its subscribers. They also meet up with the industry best practices and they are very innovative when it comes to delivering quality services.
The Olymp trade platform uses an exclusive system. What this means is that you trade in a unique style with a very good interface and easy-to-understand navigations.
Most importantly, Olymp trade offers educational packages for novices who find it difficult to trade. They have continued making adjustments in their services to meet the needs of their customers.
Following these reviewed tools on Olymp trade will set you off on a successful trading journey. You will also make more money when these tips are applied. Evaluate their unique tools and apply them while trading with them. #KhabarLive #hydnews #hyderabadlive
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