This article is intended for a beginner to Olymp Trade, helping you to map out a clear roadmap when starting a successful home-earning journey.
Simply put, these are step-by-step instructions for beginners on Olymp Trade.
- 1 Practice your analytics skills with demo mode
- 2 Capital management and goal setting
Practice your analytics skills with demo mode
Be persistent in practicing Demo
First of all, after registering a new account, practice your basic analysis skills on Demo mode. After a period, about 1 to 2 weeks, you will begin to feel the right time to open a reasonable trade.
Do not open short positions
In order to properly apply patterns, indicators, strategies, it is absolutely forbidden to open short-term transactions. You have to practice trading sessions for at least 5 minutes with long positions over 30 minutes is best. Because these are the basic requirements of patterns, indicators, strategies when trading Fixed Time Trade.
Note: There are a couple of patterns that signal a short-term trade opening.
Just practice on up to 3 models, indicators, strategies
You need to practice Olymp Trade patiently, try to memorize the necessary signals. Select the indicators that are of interest to you in the most basic indicators. Exciting will make it easier to practice.
In this way, you will realize after learning one basic indicator, the way to learn other indicators is easy. In addition, when you have accumulated a lot of experience, you will easily recognize the signs and analyze them to make trades easier and faster.
Patience and discipline
Once you patiently practice until the probability of winning your position is 7 wins out of 10 trades, you have the possibility to recognize the signal. Besides that, you will become more patient, and more serious in making money with Olymp Trade. This is when you should move on to the next step.
Capital management and goal setting
Normally, you need to start with a low capital account. Initially, you have to deposit $10, although the first deposit of $2000 helps you receive up to $5000 because of the promotion for the first time deposit. But if you do not have money, you should not deposit like that. You need to own more solid experiences to trade better, earn more firmly. Promo Codes Up to 50% Bonus in Olymp Trade
With high capital
If you can afford it, based on receiving great deals from Olymp Trade discount codes up to 50% of the deposit value, you can completely deposit a lot at first. Of course, you must be a guy with a bucket of money. By depositing $5,000 you will receive $7500.
Remember, each code is only entered once in a period of maybe several months, so traders often take advantage of it. In addition, at the beginning of each season, Olymp Trade usually offers you a 50% bonus on your first deposit. Promo Codes Up to 50% Bonus in Olymp Trade
Trading with a bonus amount also means your funds are still intact. Many Traders often use this bonus amount to trade, earn money then withdraw it while keeping your capital. Traderrr.com recommends that you deposit at least $2000 for a promotional deposit, to apply a promotional money trading strategy.
Limit trading on Olymp Trade
Plan a specific amount:
- Cost per transaction?
- Stop-loss per day/week?
- Maximum number of losing trades?
- Maximum win amount per day/week?
If you follow the instructions, you will surely achieve a lot. Fixed Time Trade is a way to make money mentally, if you have a strong mentality, you will surely make a lot of profits.
The experience is to have a cold head, this is data so it cannot be analyzed with emotion. Each metric contains its own context and implications, if you focus on analyzing them, you can predict the next price path.
You may feel tired at first because your earnings are fixed and very low, but don’t give up. This battle includes Knowledge, Skills, and Emotional Control. The experience you gain during this time is more valuable than the money you make. After a few months, when you feel like you have enough power, just increase your trading limit.
Keep trading one asset, one hour, one signal, and one strategy. You may want to learn new things but have too much knowledge in mind at the beginning time will confuse your analysis.
For example, in the beginning, I usually trade EUR/USD at 11h-13h timeframe with a strategy that combines Pin Bar and Resistance Support.
And don’t spend too much time on this, your body won’t be able to focus too long. So, sometimes go back, stretch, exercise, drink a cup of tea to relax your mind.