You don’t get it wrong. Like the title, in the first 2 days, I only entered exactly 5 trades. Too few for you, right? However, I have an extremely high win rate that many traders often dream of. Today, everything will be shared in my Olymp Trade profit-making series.
I will analyze each order for you to refer to my perspective and thinking before entering the orders. Hope you can better understand how to enter the order to have a high winning rate.
Review trading orders on January 4 – 5, 2022 in Olymp Trade
I still use the following familiar set of rules.
– Trading with 4 currency pairs including EUR/USD, GBP/USD, USD/JPY, AUD/USD.
– Open an order with the shortest expiration time of 15 minutes and the longest of 30 minutes.
– Do not enter orders before and after 60 minutes of news release.
Order 1: On January 4, at the EUR/USD currency pair, the price formed a resistance zone. At the same time, the MACD indicator also crossed from above, indicating that the price was about to drop. The signal to enter a DOWN order was a Shooting Star candle with the upper tail touching the resistance level.
Order 2: Continue with the GBP/USD currency pair. The price also created a resistance zone. Meanwhile, the RSI showed a bearish divergence, showing that the price was about to drop deeply. I opened a DOWN order when the price formed a divergence with a Marubozu candle that broke the nearby support zone strongly.
Order 3: On January 5, at the EUR/USD currency pair, the Dragonfly Doji candle appeared, showing that the price was about to rise again. I opened an UP order when the Tweezer Bottom candlestick pattern was successfully confirmed right after.
Order 4: The price increased but the RSI showed a bearish divergence. I entered a bearish position as soon as the divergence was confirmed on the next candle.
Order 5: The price showed a bearish divergence near the nearby high. I opened a DOWN order as soon as a bearish divergence was formed.
Questions that I often get when doing profit-making series in Olymp Trade
Q: Why don’t you enter the order when the payout is 82% instead of 70%? 10% difference is a lot of profits.
A: At that time, the market has met my conditions to open an order. Why not enter? If I wait for an 82% payout, maybe there is no chance to enter an order anymore. For me, when the conditions have been met, I will simply click the mouse to trade. And the payout rate that I accept is from 70% to 90%.
Q: Out of 5 orders, you use RSI divergence to enter 3 orders. Why?
A: Because it is the strongest signal to predict the strength of a trend. If you combine it with support and resistance, the winning rate is extremely high. And perhaps those orders coincided with a signal from the RSI indicator. My main strategy is still T.L.S (Trend – Level – Signal), the one that has helped me make a lot of profit from Olymp Trade.
Q: Which sessions do you usually trade?
A: in the morning, I often observe the chart in the Asian session. My favorite currency pair is EUR/USD with the reversal trading strategy. And in the evening, I love the US session with the trend trading style.
To make money in Olymp Trade or any other form of investment, you must know contentment and accept that it is better to trade less but quality. Don’t think that if you work hard in trading, your profits will increase. That’s not the case. In trading, the lazier you are, the better your investment.
Remember that each coin you use to place an order must have a winning rate of over 70%. If it is below that number, you should skip and wait for other opportunities. Don’t be afraid to lose the opportunity – Be afraid to lose money.
There is a saying “Eat less and feel full” and it is never wrong to apply to trading. You can make little profit with few trades but it has stability. Don’t double your amount in one day and lose everything the next day. It’s very dangerous because the heavy loss makes you want to take revenge on the market. An awful mind may lead you deeper and deeper into a losing spiral.
Finally, take a quick summary in the first Olymp Trade profit-making series. We already made $216, more than 2% of $5,000 in 2 days. It’s such happy news. See you again in the next article.
Join the Olymp Trade Club Signal Group: https://t.me/olymptradeclub19