The 3rd week with a profit of $205 has made up for the “boring” time spent on waiting for good entry points. As a successful trader, boredom will always be by your side. There is no such promising vision like sitting and clicking to earn a lot of money in a short time. Most of the time, it is just waiting for safe entry signals. However, if you feel busy with trading in Olymp Trade, it is somewhat a sign of danger.
- 1 Boring things in financial trading that traders face in Olymp Trade
- 2 Review on trading orders using the T.L.S strategy in Olymp Trade on 22/04/2020
- 3 Review on trading orders using the T.L.S strategy in Olymp Trade on 24/04/2020
- 4 In conclusion
Boring things in financial trading that traders face in Olymp Trade
Waiting for the trading session in accordance with the strategy
Let’s take a look at what a 24-hour financial market will look like.
The financial market can be divided into 4 main trading sessions: Sydney session, Tokyo session, London session, and New York session. These sessions are also known by other familiar names, Australian, Asian, European, and American ones.
Following are the opening and closing hours of trading sessions in GMT+7 time zone:
– Sydney session is from 5 am to 2 pm (in summer), and from 4 am to 1 pm (in winter).
– Tokyo session is from 6 am to 3 pm (in summer), and from 6 am to 3 pm (in winter).
– London session is from 2 pm to 11 pm (in summer), and from 3 pm to 0 am (in winter).
– New York session is from 7 pm to 4 am of the next morning (in summer), and from 8 pm to 5 am of the next morning (in winter).
My ideal time to trade using the T.L.S is in the middle of the Asian session and at the end of the European session. I arrange it in accordance with my daily time zone. At these chosen session hours, the payout rate is stable and acceptable of 82%.
Even if you were ready a few hours before, you would still have to wait. Because it is not the right time to trade with the T.L.S strategy.
Waiting without doing anything makes your trading boring. You will have to wait and exchange your precious time for high-probability orders, rather than open and leave everything to the God of fortunate.
Waiting for the best payout rate
For EUR/USD, the payout rate after 10 am in GMT+7 time zone is 82%. After that, the payout rate stays stable until the next day. This is an acceptable rate. Even when you have been ready for everything before 10 am, you still have to wait for the right time. Because the payout rate before 10 am is only 70%. The 12% profit added for each transaction really worths your waiting.
Waiting for the entry signal in accordance with the T.L.S strategy
The T.L.S strategy consists of three conditions for an entry point.
(i) Trend: How the trend is going.
(ii) Level: Required levels for setting the entry point.
(iii) Signal: Entry signals from high precision candles or candlestick patterns.
These are for readers who want to learn more about the T.L.S strategy: https://olymptradeclub.com/tls-trading-strategy-olymp-trade/
Entry points during the 1st week: https://olymptradeclub.com/make-money-online-olymp-trade-tls-strategy/
Entry points during the 2nd week: https://olymptradeclub.com/make-money-olymp-trade-2nd-week-april/
In order to open a trading order, all the three factors above must be clearly verified. Some of you have asked me why there are 5 active trading days during a financial week, but I am just trading on 2 days? How about the other days?
The answer is, on the other days, there is no correct entry point in accordance with my trading strategy. Even when you only open orders that fit your own strategy, it is still difficult to make a profit in Olymp Trade. Not to mention opening orders without any conditions, I don’t think you can have enough capital to make up for the loss. For me, the opportunity is infinite but the balance in the account is finite.
Above are the 3 waiting things that make me feel boring in trading. It’s time to review on opened orders for the purpose of learning and heading to perfection.
Review on trading orders using the T.L.S strategy in Olymp Trade on 22/04/2020
The method of capital management: Classic.
The trading strategy: T.L.S (Trend -> Level -> Signal).
Open a maximum of 5 orders and invest $50 for each one.
Only trade with the EUR/USD currency pair.
1st order: Uptrend + support + test candlestick at the level just passed. Opened an UP order and won. Received a profit of 82% of the investment.
2nd order: Continuous uptrend + support + long test candlestick with a lower tail (exhausted candlestick). Opened an UP order and won. Received a profit of 82% of the investment.
3rd order: Uptrend + support + Hammer candlestick, the price tested the level the second time. Opened an UP order and won. Received a profit of 82% of the investment.
4th order: Strong uptrend + support + Bullish Pin Bar candlestick, the price tested the level it just passed. Opened an UP order and won. Received a profit of 82% of the investment.
The uptrend was still strong on the go without any reverse point. There is no safe entry point, so waiting is the thing to do now. At the end of the day, there was no reasonable entry point, so I stopped at the 4th order.
4 wins and – 0 loss
Review on trading orders using the T.L.S strategy in Olymp Trade on 24/04/2020
1st order: Uptrend + support + Bullish Pin Bar candlestick, the price tested the level it just passed. Opened an UP order and won. Received a profit of 82% of the investment.
2nd order: Uptrend + support + Shooting Star candlestick, the price tested the level it just passed. Opened an UP order but lost.
3rd order: Continuous uptrend + support + Bullish Marubozu candlestick, the price tested the level just passed and the candlestick closed at the highest peak. Opened an UP order but lost.
4th order: Continuous uptrend + support + Hammer candlestick, the price tested the level the second time. Opened an UP order but lost.
By the 4th order, I ended my trading day. 3 losses in a row despite the correct strategy is because this is a game of probability. That’s why I need to accept it. Shut down the computer and take a break. Do not let your emotions interfere with the transaction.
1 win and – 3 losses
If you choose the path of a professional trader, you must first get bored with trading. That is quite a special thing about being a trader. If ordinary jobs need constant work in order to create assets, a trader does the opposite. Be a «lazy» trader. The interesting thing about these traders is that they make money. Don’t be artificially busy. Just be simple but effective, waiting for safe entry points.
Trading with the T.L.S strategy resulted in 5 wins and 3 losses which earned me a profit of 55% in the 3rd week of April. But during this week, I opened long-term orders which made a $150 profit. The total profit which I withdrew to my account is $205. The $400 bonus is recalled by the platform after withdrawing.