Trading in the OTC market is an issue that is often discussed by traders. There are lots of opinions from both sides between the likes and dislikes of trading in that market. For me, everywhere, the focus is on knowledge.
With it, you can make money in a sustainable way. On weekends, if you can’t go out for entertainment due to the Covid-19 epidemic, it is not a bad idea to do a few orders in the OTC market at the Olymp Trade platform to make money and cover living expenses.
OTC market trading is for making money, not spending money for fun
The reason why I say that is because I have seen many cases of jumping into the OTC market trading for gambling entertainment, and ended up losing money. I still hold the view from the past to now that trading is good with a purpose to make profits.
Many people are very afraid of trading in the OTC market. Because at the end of each trading day, they often lose inexplicably. What we don’t know, we fear when we face it. And when you understand it well, everything will be as easy as everyday tasks.
If you want to make money in the OTC market at Olymp Trade, you must understand it. If you have tried to find out but do not understand the movement of currency pairs, then I advise you not to trade there anymore. Invest in something you know well about. Don’t use your money recklessly.
Update Nonfarm news trading orders
The previous day I predicted Nonfarm in favor of the USD. I also placed DOWN pending orders with currency pairs such as EUR/USD, AUD/USD, GBP/USD but failed. So I closed them all. Today, I went to look at the OTC market and saw that the USD/CHF currency pair had such a beautiful entry point. Thus, I opened an order of $50.
The reason for entering a bearish order was that the candle has closed outside of the upper band and the RSI was at the overbought zone. This is my favorite reversal strategy that I use with the USD/CHF currency pair. These pair have a habit of moving inside the band every time there is a candle outside the band. With the RSI indicator, we will know the right time to open a reversal order with a high winning rate.
One win is enough for my Sunday. Less is always better. For the rest of the day, I spent with my family members. How about you? Let’s cultivate knowledge more and more. So every day that goes by, you know more interesting things about life and trading. Don’t let it be a boring series of only trading and trading.
Last week’s profit has not yet reached the set target. If you are in the same situation as me, don’t be sad. It’s all just a probability. This week the market may not be good but it’ll be better tomorrow.
Just know that you are on the right path. Reaching the destination is only a matter of time. Don’t be in a hurry. Good prospects will come as you expect if you have patience and discipline in trading. Good luck and see ya.
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