There are only a few people choose cryptocurrency as product for trading. If you trade in Olymp Trade, you may often trade Coin at weekend, when other product temporary stop being traded.
This article will tell you why: Crypto currency is one of the safest products for trading, especially Bitcoin. Besides, we will give you some strategy when you trade with Bitcoin.
Cryptocurrency in Olymp Trade
There are 12 types of cryptocurrency that can be traded in Olymp Trade. However, if you trade, the best choice is Bitcoin because its payout ratio is better than the others.
High payout ratio products in Olymp Trade are choices that help you keep your account safer.
For example, with payout ratio 60%, you trade with 5 orders, each order’s investment is 10$, three-win, 2-lose. Therefore, your money is: (3 x 10 x 60%) – (2 x 10) = -2. You lose 2$. However, you payout ratio increases to 80%. Your money will be: (3 x 10 x 80%) – (2 x 10)= 4. You have profit of 4$. This is the experience for choosing product in Olymp Trade.
Why different products have different payout ratio? Because it simply indicates that price of those product is more and profit rate of them is higher.
Why Bitcoin is the safe choice when trading
There must be no one tells you and you yourself may feel weird. Bitcoin’s price is one of the most fluctuant units in the market. It may increase or decrease hundreds USD in few hours. So why is safe?
When a trend of Bitcoin occurs, it is the main trend.
Just think, if you trade with other products, you can easily get tricked by the trends, but when you trade Bitcoin, you hardly get tricked by its trend. If the price goes up in 1 or 3 hours, the main trend is upward and vice versa. But the time that price takes a rest to develop a new trend is also important. Price will be stable in a while and is easy to understand and estimate. Let’s take a look at the example in September 28th, 2018.
Price was stable in a certain zone, and made a very clear support/resistance zone. But when price went beyond the zone, it increased steeply and made a clear upward trend. After that, it went back to the prior state, and was stable in a certain zone.
Check the history of Bitcoin price on your own to see if that is the circle of Bitcoin price.
Trading strategy with Bitcoin in Olymp Trade
This is the most important part of this article: How can you earn money using this knowledge about Bitcoin? Let’s take this 5 minute chart as example. Price is stable in the zone, begins to go into the support/resistance zone, then we start to place order. If price goes into the support zone, trade with order UP in 15-20 minutes, if price goes into the resistance zone, trade with order DOWN in 15-20 minutes.
Why should we place order in 15-20 minutes but observe 5 minute chart? Because with the support/resistance indicator, you know that price bounces back but you do not know when it occurs. That’s why you should place orders in the long time so that your orders is safer. You can refer to this article: Support and resistance, 2 of the best indicators that Olymp Trade’s traders should know.
When Bitcoin price breaks out from its resistance zone, you can start trading in the long time with any time you want. Because, as we have already analysed, when Bitcoin develops its trend, that is its main trend. With the above example, you can trade with 15-20 minutes orders and the probability to win is nearly 100%. How can you know when price breaks out of its support/resistance zone? This article will show you: Guide to discover when price is about to break out of support/resistance zone in Olymp Trade and what you should do when it occurs.
Wish you success!
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