Tips for keeping your Olymp Trade account safe
Olymp Trade is an update to the catalog of brokers’ wireless options. I don’t think Olymp Trading will cheat, in my opinion. Is this a hidden trading site, or are several binary options available? Or is it an Olymp trade scam? See the analyzes below for responses.
Deal with a demo like a real one
The realistic account has one significant advantage over the real one. You don’t sell your own money, and, in the event of a loss, you won’t risk your own money. That is why you should still use demo account strategies. There is no high risk so that your funds are secure.
I will switch into a test account any time I want to verify if the technique is successful or not. More than once, I try the same tactic. And only then I’ll step into the real account and use a specific technique. I’m sure it works as expected. I would also seek realistic approaches and different financial instruments or investment amounts for a single transaction.
I train, I try various possibilities, and I turn to a real account when I know what works and what does not. And I choose the market, the strategy, and the investment amount without hesitation. Most traders at the beginning use the practice account as a playground. You are investing massive sums.
You are using random tactics. After all, it’s not their cash. But it’s not right. Don’t get used to living like that. Treat a sample account as genuine as it was. Otherwise, in the future, it could cost you real money.
The way you were the right individual increase your confidence by using a demo account. It allows you to differentiate between the good and the poor; you know about the practical approaches, and you’ll be sure that they’ll succeed in the real market. My advice is to practice for a lot of time. You ‘re an athlete, imagine. Before you can demonstrate your talents, you spend hours at the gym. Then you go back to work regardless of whether you fail or win. In the trading sector, you should do the same. And the big news is that Olymp Trade has a free demo account.
Keep away from 60-second trades
Eighty-two percent of the investment in 1 minute would make it very tempting. Just a quick-money thought makes you smile. But it’s a question, you see. It’s so fast for 60 seconds, but still so long. You’ll be scared and frightened. And these feelings are robbed and weakened by your logical thoughts.
You can be too assured by earning good profits in just 60 seconds. You would then think you have found the simple way to make big money and bring more and more capital into a single company. This is a straightforward way that all your earlier gains can be deleted. You can never forget that prices regularly change even in such a short period as 1 minute. And also a slight price fluctuation will cause you to lose a lot.
Price fluctuations in more extended periods are not so intense that you lose anything, on the other hand. In short or long periods, the price will continue to adjust. But forecasting the market and projecting its path is simpler by using longer timeframes.
Test the history of trade frequently
For any dealer, the first rule is to reduce losses and optimize profits. Once you have the chance to test your past companies, it is much more comfortable. The first traders maintained a handwritten transaction log. They reviewed every day what transaction had a benefit and a loss.
Good information? Good news? You don’t have to do that. A device called “trades,” Olymp Trade provides you with a history of your past transactions. What would you deduce from the history of trade now?
First of all, if on that particular day you made a profit or loss. Second, the most productive businesses were produced by financial instruments. Then at the point, you made the right decisions, what strategies work best.
For instance, you will find that the highest payout is between 10 a.m. and 11 a.m. during trade candles on the Euro / USD currency pair. And you know when to trade this particular currency pair thanks to this piece of knowledge.
Establish and execute the trade plan
I didn’t work on any strategy for money at first. I always wanted to make money, so I choose random markets, and I swap into another if one doesn’t offer me benefits.
I’ve got to confess. They haven’t worked. Finally, I lost more than 80% of my money and said something would change to myself. I started to follow active investors’ steps, and I found out they all had a business plan. That’s what I lacked, exactly. Let’s look closer at the implementation of such a program.
First of all, you can decide the time you want to spend on the demo account of Olymp Trade. It’d be three weeks, I agreed. It will take time to figure out what markets and what time the most significant income will offer me. The amount of money you ‘re able to bring into the company is another matter.
As previously reported, it is essential to test a trading background. Every trade I analyzed. I have written my comprehensive report, detailing time, tactics, indicators, resources, and times. I have been on a real account for three weeks. I’ve developed a trading strategy with information such as:
- I ‘d deduct the sum when the benefit is removed and the share of the balance.
- I will use maps and indicators.
- I will make trades in markets and times.
This is just an example of a cash strategy. You should build one which suits your business style best. I advise. And first and foremost, make sure you follow your plan to create capital.
It is instrumental in becoming a VIP when you take trade risk, even if the trade does not have an Olympic trading fraud and a fair approach. It transfers from the usual to the new account to the VIP.
It is also essential how logically you trade: if you open 2-3 deals in a month, it doesn’t matter what kind of account you have. After half a year of trade, I switched to VIP, but I already had a strategy and opened ten deals every day. Of course, my income has increased considerably as a result of more competitive payments, and as I started trading in larger quantities.