This is a share on Olymp Trade Club website. A professional “trader” spends the whole day waiting, opening orders and making money from the Olymp Trade bookmaker. And this article is also for those who want to quit a job and focus full-time to trading.
There are 2 ways to trade at Olymp Trade
Open a 30-minute or longer order at Olymp Trade
Combining 2 SMA lines (10 and 30) cut + break levels (Support/Resistance) + 1 signal candlestick = open a 30-minute order.
Set up 2 SMA lines. SMA 10 is range and SMA 30 is purple.
Open an UP when SMA10 cuts up to SMA30 (the orange line cuts up to the purple line) and breaks levels (Resistance) with a green candlestick.
Open a Down when SMA10 cuts down to SMA30 (the orange line cuts down to the purple line). The price creates a green candlestick breaking levels (Support).
Open a 5-minute order at Olymp Trade
T.L.S is one of my favorite ways to trade. Moreover, I am a fan of Bollinger Bands + Support/Resistance are also my trading style. Here are the ways to trade for the 5-minute candlestick chart and the expiration time is 5 minutes.
How to trade at Olymp Trade with T.L.S. You can read more about this article: How to trade with T.L.S method.
How to trade at Olymp Trade with Bollinger Bands and Support/Resistance. You can read in this article: Olymp Trade strategy with Bollinger Bands and Support/Resistance.
How to manage capital when trading
The so-called “It doesn’t matter that you win or lose. The matter is how much you win and how much you lose” is shown at this time. I am a full-time trader so I use short orders to wait for long ones. My capital management will be like this:
Short trade with $5 and long trade with $200. At Olymp Trade, I have 2 tabs for trading. One tab I set up for long trades and the other for short trades.
Why? Simply because statistics show that 30-minute orders have a better chance of winning. Thus, with a high probability, I spend large amounts of money. With a low probability, I use small amounts of money.
How to manage my emotions when trading
What you really need is Patience + Principles. If you set up a strategy including How to play & Capital management, you just need to do it right.
Olymp Trade is a statistical probability. And the bookmakers use emotional tools to get traders’ money. To win Olymp Trade, you need to overcome those things.
Respecting the truth about a statistical probability game, winning or losing is normal. Focus on Olymp Trade trading methods which have a high probability of winning and wait patiently. Never break this rule. Don’t have any emotions whether positive or negative when trading. That’s all!
Do you want to quit your current job to focus on making money from Fixed Time Trade?
For many people, the answer may be NO. But for me, the answer is “it depends”.
Depending on your personality? Is it suitable for emotional games or not? You can reflect on yourself through stories in your own life.
If your decisions in life or work are largely decided by emotion, Fixed Time Trade is not the right for you. There have been a lot of articles on this website claiming that Olymp Trade is an emotional game. So the more you let your emotions dominate, the more you lose money.
Conversely, if in life, when you encounter something, you calmly consider. Use paper to write and analyze whether it is good or bad. Use rationality to make final decisions. It is possible that you are suitable to make money at the Trading platform.
Even if you sometimes fool yourself as a person who has patience or principles? But after all, those who live and act emotionally are often impatient and do not respect the original principles.
This is the basis for you to answer the question. Should I become a full-time BO trader?
Join the Olymp Trade Club Signal Group: https://t.me/olymptradeclub19