If we are not talking about “cheating”, gambling, Sic Bo is also one of many ways that earn money by probability and statistics. Incidentally, we received an email with the subject: “Share a way of trade by using Sic Bo gambling style in Olymp Trade”. This way of trade is according to the green and red candlesticks combining with Martingale capital management.
But this strategy is not as normal as the way some people often trade, it is simpler, more effective and has a better probability and statistics. This is a trading method called “Following the candlestick”.
- 1 I remind the concepts that you must grasp when trading with the candlestick’s color in Olymp Trade.
- 2 Idea about trading with Sic Bo gambling method in Olymp Trade
- 3 Start with the below example
- 4 Some notes when trading in Olymp Trade with “Following the candlestick” method
- 5 Have you fully understood this trading strategy yet?
I remind the concepts that you must grasp when trading with the candlestick’s color in Olymp Trade.
First, if you’re watching which candlestick chart, open orders in accordance with the minutes of that one. Besides that, you have to open at the moment a new candlestick is created. It is the best to only open orders at 00 second. For example:
It depends on your trading skill, you will need more practice to be expert. You can use the DEMO account in Olymp Trade to open orders. All orders will start at 00 second and also end at 00 second.
Second, there are only 2 colors of the candlestick in Olymp Trade – Green and Red (green means up, red means down). You must distinguish the normal candlesticks from the special ones. Identifying them is very important. Doji and Hammer are special candlesticks. The longer normal candlesticks are, the better they will be. They should have a long body and short shadow (Their body is longer than their shadow). Even in some situations, a candlestick only has the body. Take a look at the picture below, the special candlesticks are circled. Just focus on long-body candlesticks.
Third, according to Martingale capital management, you will increase money to the following order if the previous one loses. Here is an example: 1st: 1$ – Lose, the next one, 2nd: 3$ – Lose and the third one: 9$…. until you win, let’s stop then start again.
If you still have some confusion about 3-candlesticks strategy in Olymp Trade, please read our previous post: 3-candlestick rule: How to trade simply but effectively in Olymp Trade.
Idea about trading with Sic Bo gambling method in Olymp Trade
Open order according to the previous candlestick’s color, sound confusing? We will give a simpler explanation: The bookmarker rolls the dice, first round – Small, so in the round 2: bet on Small. If you lose, increase money to bet on Small continuously until you win. If you win, let’s stop there and wait for the Big to come up, you will bet on the next Big.
Explanation in detail: Screen on and you see a chain of red candlesticks on the chart. Keep calm and wait for a green one – the only perfect candlestick (with the long body, short shadow or even it has no shadow at all).
At this time, you will open an Up (bet on the green candlestick), in case you fail, use the Martingale constantly till there is a green candlestick on the chart. But if after the appearance of the green candlestick you open Up and win, you must stop. Then you have to sit tight and wait for the red one then continue to open a Down (bet on the red candlestick).
This is easily understood as trading following the previous candlestick’s color.
Here is a more specific example:
The money pair that has more than 82% in payout is your priority to open an order.
If you trade upon Martingale, the higher the payout rate is, the safer you are.
Deposit $364 to account and use it for 1 cycle = 6 orders constantly.
It is more secure when you trade from 10 a.m to 11 a.m for EUR/USD pair. The payout is 82%. Staying focus on trading for only 1 hour with this method is enough. Your trades will not be affected by the news. “Trade fast, quick withdraw”. After the trading time, you must withdraw immediately.
Start with the below example
The Olymp Trade Club gives you a strategy, it’s quite important that you have to test, do statistic by yourself,… Only by this way, you will believe this method is effective.
When you open trades based on Martingale without your previous experience, the amount of money for 4th or 5th order is not small, you may lose your stable mentality.
Some notes when trading in Olymp Trade with “Following the candlestick” method
If you want to be rich in a short time, please forget the 1-minute chart. It’s too short that every crisis happens in seconds. You have a limit of adjusting the money for the next order. Like feeling stuffy when acting too fast in minutes. So, it is best to begin with the 5-minute chart.
Let’s remember these are normal candlesticks, not special ones. The candlestick should be long as much as possible. Especially, you must open order at 00 second – the moment this candlestick ends and another one appears.
Do not deposit too much money for Martingale capital management. If you charge more than $364, you can lose them all with just one wrong cycle. When you got the profit and the most concentrated time was passed, withdraw all money back to your bank account.
Stay away from the Plus-Minus button. Olymp Trade creates those buttons that help you adjust your money easily, but they also make your money burned more quickly. Adjust your money by yourself when waiting for the expiration time.
In case you miss opening Up at the time the market creates the 1st green candlestick, just sit there and wait for a next red candlestick to open a Down later.
Have you fully understood this trading strategy yet?
Now, let go to Olymp Trade platform, open the 5-minute chart, with the EUR/USD pair at the time frame 10 a.m – 11 a.m and count the candlesticks. Have you ever seen a situation that there is one green candlestick being created on the chart, then suddenly comes 6 red candlesticks up continuously? Or vice versa.
Olymp Trade club has no survey at that time frame. So please test and practice by yourself.