I am not only a reader but also an Olymp Trade trader. And this is how I earn money regularly on Olymp Trade platform only by using candlestick, Bollinger Bands, and Martingale.
This is my money withdrawal from Olymp Trade. It is not a big income, however, I can get it like this every single day.
How to trade at Olymp Trade by Bollinger Bands and Candlesticks
Main currency pair EUR/USD (1 pair only). The Japanese candlesticks chart with 5 minutes time frame. I will make a note of the time frames that you should not trade below.
Trade at Olymp Trade following candlesticks color, expiration time: 5 minutes.
There are 2 entry points trading for Bollinger Bands:
(i) The candlestick closes at 2/3 outside of the band. You can simply understand: With the upper band, when the 5-minute green candlestick closes at 2/3 outside of the band, open a Down order (bet on the next candlestick red). In the other hand, on the lower band, if the red candle closes at 2/3 outside of the band, open an Up order (bet the next candle turning green).
(ii) The whole candlestick is outside of the band (more reliable). Simply understand: The green candlestick closes outside of the upper band = open a Down trade (bet the next candlestick is red). Conversely, the red candlestick closes outside of the lower band = open an UP order (bet the next candlestick is green).
By this strategy, I usually call it: Trading OUT BAND candlesticks. With only 2 entry points combining with Martingale capital management, I increase money within 3 orders (10-25-65). Starting with a total capital of $100 helped me earn $15 per day regularly.
Some real examples of trading OUT BAND candlesticks
19 March at Olymp Trade
The reason why the dashed line is not an out band candlestick is color difference. The upper band should be a green candlestick and the lower one should be a red candlestick.
Entry point: Out band candlestick = Green signal candlestick is at 2/3 outside of the upper band => open a Down order (bet that the next candle is red) – Win.
Entry points on the evening of 18 March
These are transactions on the evening of 18 March.
There are 3 signal out band candlestick. But there are 4 orders
Point 1 – 1st order: The upper out band candlestick => open a Down trade (bet the following candlestick is red) – Win’
Point 2 – 2nd order: The lower out band candlestick => open an Up trade (bet the following candlestick is red)) – Lose’
3rd order: Next to point 2, if the candlestick is still out band => open an Up order (bet the next candlestick is green and increase money) – Win.
Point 3 – 4th order : The lower out band candlestick => open an Up order (bet the next candlestick is green) – Win.
Sometimes, you will see the middle of the candlestick. The candlestick is out of the band only a half. Don’t open any order. It is better to continue to wait for other opportunities than to lose money. Ignore when you are not sure.
These are the out band candlesticks on the evening of March 15 at Olymp Trade
Please note this: The essence of this strategy is to reverse the temporary trend. Thus, if the out band candlesticks are Doji or Pin Bar, they are very reliable.
Experience trading at Olymp Trade when using out band candlesticks strategy
First, stick to the orders. That is when the signal candlestick appears (OUT BAND CANDLESTICK), you start opening orders. The first order loses but the next candlesticks still closes and falls into one of the two types of candlestick above (candlestick closes 2/3 outside of the band or the whole candlestick closes outside of the band). You must continue to the second order. Like that, if the 2nd order is still OUT BAND then you continue to the third order. Lose 3 orders consecutively and stop or get the whole money back. It sounds scary but I haven’t lost any money yet.
Second, Trading skills at the Olymp Trade. You need to open the trade as soon as the candlestick outside the Bollinger Bands closes. Please review my transactions. You will see me open my transaction at 00 second (the first second when the market starts a new candlestick). Practice this skill.
Third, Martingale capital management. If the 1st order loses, you will have to raise money for the 2nd order. And if you lose again, you must continue to raise money for the 3rd order. Therefore, you should only pay exactly $100 in your account, not more. Earn enough 15$ or a minimum withdrawal for a day then you need to withdraw immediately. Shut down your computer and do something else.
Fourth, there are some time frames that I never trade or test for the money pair of EUR/USD. It means that I only trade from 7 am to 12 am and from 14 pm to 20 pm regardless of the days having news about EUR/USD.
Fifth, this way of trading requires discipline and emotional control. Calculate the amount of money you spend on Olymp Trade based on your total monthly income. If you run out of money, you have to stop on that week or month.
Sixth, withdrawal, You must withdraw daily. Better withdraw as soon as reaching the goal or 15$ in minimum per day and take all your capital back + remain interesting on the weekend.
Reason: When you trade using Martingale, if there is any profit, you have to withdraw to the bank account immediately. This is considered a way to protect your achievements, otherwise, you will probably blow everything away.
I gave some examples to help you understand more about OUT BAND candlestick. If you want to practice or verify this way of trade, either you check, test statistics of the probability of the 5-minute time frame of the EUR/USD pair (avoid the session time) or DEMO yourself. Please carefully read the note of this out band candlestick strategy (quite important).
Of course, with $100 for 3 orders and managing capital according to Martingale, possibly you may lose everything in 15 minutes. But if that is the case, you should stop and know that the trading week has ended. In fact, until now, after testing nearly 12 trading sessions. I haven’t burned my account any time yet.
Join the Olymp Trade Club Signal Group: https://t.me/olymptradeclub19