Safety when trading on Olymp Trade is something that all traders are aiming for. No one wants to take the risk that will come to them. That is not debatable.
However, you should remember that the greater the risk, the higher the potential return. Conversely, low risk means low return. So the question is: Should we risk our investment in search of higher returns? What is your thinking? Let’s find the most suitable answer in this article.
“The brake doesn’t make the car go faster. But thanks to it, we dare to go faster.”
How to have safe orders in Olymp Trade
What will you do with your money? Keep it safe and make a steady profit by investing. That’s always a smart choice.
You will go online to find ways from trading strategies to capital management or trading psychology, as long as it helps you keep and grow the money in your wallet.
That’s the basic knowledge but not everyone knows it. For new traders, the safety of trading is judged by the number of indicators on the screen. The more indicators they have, the more secure they feel. It’s absurd.
For safe transactions, it is best to follow the below bullet points.
- A proven, highly effective strategy.
- The lowest risk capital management method.
- Mentally prepare to accept losses without trying to recover the lost money.
Those are the best ways to protect the money in your account that you need to do. They are drawn from my trading and experience.
How to avoid high-risk trades
Do you dare to put your money on orders that are most likely to lose? Of course the answer would be no. No ordinary people would put money in such a risky place. So how to recognize the dangers that are lurking when you trade in the market?
You need knowledge to recognize danger and make profits in any field, not just investing or trading.
Have you already understood how the market works, the habits of the currency pairs, how to use the indicators…? If you don’t understand these things, I’m sure you don’t know how to make profits from the market. You will face a lot of risks when your knowledge is limited. Feel free to increase it by searching and reading helpful articles here in this small blog.
It is best to experience the knowledge you have learned in a Demo account so as not to take any risks when testing your trading strategies. Don’t use your money on luck. Use your knowledge and experience to make money in a sustainable way.
Should you take a risk when trading in Olymp Trade?
I think the answer is Yes. With the signals that you trust the most with a high probability of winning (over 80%), it is worth a try. Risking here does not mean that you have to put all the money you have in your account. You just increase the volume of a risk order larger than a normal one.
For example, you only trade Fixed Time with the amount of each order from 2-5% of the account. Then you can risk an order with an amount of 10% – 20% of your total capital.
This is a trade that I am confident with when entering an order of $1,000, nearly 20% of my total capital. When I see the bullish divergence of the RSI, I am sure the price will rise again in the future. So I open an UP trade unequivocally when everything is clearly confirmed.
With those risky orders, you will quickly achieve the set profit targets. If it fails unfortunately, there is nothing to worry about when it only takes for 1/5 of the account. I think you will have memorable moments with such trades.
In the process of trading, sometimes the rigidity will cause you to miss favorable opportunities. What you need is the flexibility to seize the good times to bring you profits. A trade with a high win rate will rarely appear so why would you treat it as a normal opportunity.
Only risk bigger amount with a high win rate order. If you can do it this way, you will get more profits. However, it is necessary to set specific limits to control your greed in the best way. Good luck in your trading.