When you hear the story of making a living by trading (professional traders) with a win rate somewhere around 70-80%, you think they are lying. If you take a look at their transaction history, you will definitely have to think again. How do they achieve such a “golden” win rate in Olymp Trade Fixed Time? Because they have their own way of trading using Key Level, which seems simple but extremely effective.
- 1 How to use the Key Level as a professional trader
- 2 Review some trading strategies using Key Level in Fixed Time Trade of Olymp Trade
- 3 To conclude
How to use the Key Level as a professional trader
The “great technique” that I mentioned at the beginning of the article is not something so monumental. It is so basic that everyone entering the trading path should know. It is the resistance/support zone of the weekly candlesticks which is collectively known as the Key Level.
Just by drawing these levels, you can predict how the market will act when it gets there. It’s easy to say, but you need to practice it well before going into real combat. Because if you misidentify the levels, your prediction will not be really accurate.
Take your time to find important Key Levels when you are not quite mastered. Because of the survival of the transaction process, accuracy is essential.
Open the weekly candlestick chart to find Key Levels and identify the main trend
Professional traders are not necessarily better than others. However, they know how to take advantage of a period of time to do more. Not only do they open the weekly candlestick chart to find Key Levels but they also take a look at the main trend.
They will determine whether the market is up or down so that they know how it will react when the price touches the support/resistance zone. Each scenario that happens will go with a contingency plan calculated in advance to limit the risk.
At this point, we have completed the simple but very important preliminary assessment. It contributes significantly to the golden winning rate (70-80%). This is something that only the masters of Fixed Time Trade can achieve. It’s crazy to know that they are simply reliable levels on the weekly time frame. This is something that everyone knows but few people can apply it effectively to bring about profits.
Next, they (professional traders) will turn on the candlestick chart with a smaller time frame, which is the daily candlestick. This is to search for Near Key Levels that cannot be seen on the weekly candlestick chart.
Find the Near Key Level on daily charts
As the weekly candlestick chart cannot show other important levels, the daily charts will help investors find “Near Key Level” that cannot be observed in large time frames. It helps you to determine the market’s movement in the short term in the best way. This will help you not miss any important information from the market when making an investment decision.
Key Levels and Near Key Levels are all found and identified. The main trend is also clear. Those are 2 key issues that have been resolved. The rest will be about entry points following the trend. Why should we trade following a trend rather than against it? Simply, when trading in the same direction as the trend, your odds of winning will be at the highest level.
Now, we get to the last part of the strategy which is looking for an entry signal. To recognize those signals, you need to know the basics such as candlestick patterns, patterns, and special candlesticks. This is to avoid missing out on immediate opportunities that you do not realize due to the lack of knowledge.
Open orders using signals at the Key Levels
A reliable signal to open an order is a candlestick pattern, a pattern, or a special candlestick occurring at predetermined Key Levels.
In an up market, you should pay attention to strong support zones. Give priority to bullish patterns to have great trend-following “UP” orders.
When the market is in a downtrend, you need to pay attention to resistance zones. Those are good price levels to execute a “DOWN” order following the trend when a signal appears.
Review some trading strategies using Key Level in Fixed Time Trade of Olymp Trade
Currency pairs: EUR/USD
Capital management methods: Balanced investment of $500 for each order
The expiration time was 45 minutes.
First of all, look for the weekly Key Levels. We do that by switching the candlestick chart to the weekly time frame.
Once the 1.190976 level is confirmed as an important price zone of the EUR/USD pair, switch to a smaller time frame such as 5-minute to find an entry signal. Because the smaller the frame, the easier it is to capture the price action.
1st order: At the EUR/USD pair on March 16, the price broke out below the Key Level. The price retested the 1.190976 level, which was, at that time, a strong resistance zone, forming the Evening Star bearish reversal candlestick pattern. Opened a “DOWN” order when the pattern was successfully confirmed at the level with an expiration time of 45 minutes.
2nd order: At the beginning of March 17, on the EUR/USD pair, the price returned to the Key Level. Then, the price created a special candlestick called Shooting Star. This was a signal that prices would decline in the near future. Opened a “DOWN” order when the price entered the Key Level zone with an expiration time of 45 minutes.
With such a green history for a unique trading strategy using Key Levels, then you can partly evaluate the effectiveness of this strategy. However, you still need to practice a lot because what you see is the achievement of a professional trader who makes a living with Fixed Time Trade.
They have plenty of patience and assertiveness in all market situations. Therefore, practice to get the patience needed to make the right decisions at the points where we have the highest probability of winning.
I wish you soon to become a professional trader with good entry points using the Key Level in Olymp Trade.