- 1 Trading with Candlesticks colors is one of the advantage of Olymp Trade
- 2 How to trade Olymp Trade in Candlesticks colors
- 3 Advantages of Olymp Trade trading methods in candlestick colors
- 4 Disadvantage of Olymp Trade trading methods in candlestick colors
- 5 Conclusion
Trading with Candlesticks colors is one of the advantage of Olymp Trade
If you have experience in trading at IQ Option, Binomo, Olymp Trade… or new platforms such as Grand Capital, HighLow Option, you can see that you are only able to trade by price. Only at Olymp Trade, you can trade with candlesticks colors.
In this article, we will guide you how to trade with candlesticks colors in Olymp Trade. This is a simple, yet easy to success if you have a cold head.
How to trade Olymp Trade in Candlesticks colors
It’s simple: If you trade the UP, you choose green candles. If you trade the DOWN, you choose red candles.
This strategy bases on your skill rather than method because you need to know how to place orders with the right period of that candle.
For example: You use 5-minute candlestick chart, it means that you will place an order in Olymp Trade that has the same time frame with the candle – 5 minutes. When the order is placed, it ends the same time with the candle.
You can see in the Olymp Trade’s countdown clock the time to end a candle. This time period is the time to end a candle and create a new candle
Most of the time you do not need to do anything. You just need to take action when the countdown clock is at 00:01s. If you estimate that the next candle is green, you trade for UP and vice versa, if you estimate that the next candle is red, you trade for DOWN. Because the time your order ends has to be the same at the time the candle is created, color of the candle decides you are win or lose.
If you click right at 05:00s in the countdown clock, you placed the right order.
Advantages of Olymp Trade trading methods in candlestick colors
Price fluctuates slightly in Olymp Trade
Let’s take the pair EUR/USD as example, there are 5 numbers after the comma. These fluctiation makes orders that are means for profit become loss or draw. If you place orders based on candles’ color, price is not as important as candles’ color
Avoid trading order continously in Olymp Trade
You will understand this if you have experience with trading. Price goes down, but you estimate it goes up and trade for the UP. However, price continues to drop and you still place another order of UP. This is dangerous because you may place a serial of orders before you win. If you trading orders based on candlestick color, you just have one minute for your order. If you are over the beginning point of a candle, you cannot place order any more
Easy to apply, simple and flexible
You do not need any indicators. You just observe green and red color of the candles. The matter is your skill. You need to practice placing order with Demo account so that you get used to placing order in time.
To get skillful with this strategy, you just need to know how to examine and generalize which time that green and red candles appear alternatively. Or just place orders depending on the price trend. They are all about probability
Disadvantage of Olymp Trade trading methods in candlestick colors
Easy to get trading continuous with Martingale strategy
You can easily get carried away with this strategy. With some candles appear with the same color, you will increase your investment for the next orders and lose all just for one mistake. This is one of the disadvantage
Careful observation is necessary
Normally, when you start a new strategy, you just need 2 weeks at the most to test it. But with this strategy, you have to check a lot of data. For example: Green or red candlestick appear continuously at what time in a day, which time frame should be chosen for order? 5 minutes or 15 minutes? You need to test a lot and find your suitable products and time period. Then you just need to focus on earning money.
Skill rather than knowledge
When you trade in Olymp Trade, you have your own methods, analysis and technical knowledge, etc. This make you confused and worried.If you play by candles’ color, you will unconsciously think too much and lose your chance
Be careful with this Olymp Trade trading method. If you are a wining-seeker, you should not play with this method.
On the other hand, if you are patient and paying attention to details, this method suits you. It does not require so many technical knowledge.
And just like other articles, we have successfully used this method with the pair EUR/USD, 5 minute candlestick chart, and time period of 10am – 11am every day. Profit is stable. You can read other articles at Olymp Trade Club
Wish you success!