Do short-term Fixed Time Trade transactions in Olymp Trade make it difficult for you to make money? If so, then why not try with long time frames. I am sure it will make it easier for you to trade. A very successful trader has developed his trading strategy on short-term news into very effective long-term orders. It allows you to comfortably trade and do other jobs. Read on to find out how the author made $820 within 2 trading orders.
Pick your side in the financial market
In addition to determining whether you are on the “bears” or “bulls” side in the market, you also have to choose to make money by following the crowd or the minority in Olymp Trade. Before deciding to open an order, you should know that the market is made to deceive the majority. It takes the money from the majority to share among the minority. It is a law that never changes. But the crowd isn’t always wrong, so you don’t have to act against it all the time.
Don’t become an emotional trading crowd
The crowd often relies on emotions to decide their own trading. Like a magnet, the crowd will attract bystanders who are puzzled via emotions of extreme excitement or panic. And then, they get stuck in an impossible loss.
Your account, your money is decided by the emotions of the crowd. This is ridiculous. Instead of standing outside and observing the market, you wriggle into it and then get swept away. When you lose your own precious money, you will realize that you are wrong.
You should be responsible for your actions instead of blaming anyone else. Ask yourself why it is so easy to lose your mind. Nobody can point a gun at your head to force you to trade. The opinion of the majority is not necessarily correct. Do not rush to copy them hoping to make a profit. To avoid losing money, you should stay out of the market and away from invisible attraction from the crowd.
Do as the minority does – trade with reason
Many people are extremely wrong when they think that you must have a mental problem when going against the crowd. But losing money is not a problem for them, isn’t it? Or because they are too familiar with the feeling of losing money, so it is quite normal. Don’t be bothered by those words as trading is a journey of your own.
Besides, don’t be too extreme to assume that crowds are always making the wrong decisions. They are only wrong when they make transactions determined by emotion when encountering uncertain opportunities appearing in the market. Don’t be in a rush to judge things without getting a full picture.
Being in the minority is simply about separating yourself from the noisy crowd. This is to choose your own path determined by reason, numbers, and logic. To make money in Olymp Trade, you need to be reasonable.
Be different from others in trading and in life
Quiet, unpredictable, and bizarre is all it takes to describe him (the author of the trading strategy using news and long-term orders) during an offline meeting in a coffee shop. Nothing stood out when he said he traded on news. However, when I saw him trading, there were very unique things that were different from others. Drinking unsweetened coffee without ice indicated that he was not an ordinary person. Here I will introduce to you that trading strategy. Maybe it will be suitable for you.
Trade on the news with long-term orders
News trading is a technique for trading currencies in financial markets. Released news can be an important tool for financial investors to analyze the situation in order to make trading decisions. The economic news reports often cause the prices to fluctuate dramatically in the market. From there, it creates good trading opportunities for investors.
However, it has been modified to develop a trading strategy with the highest win rate. Instead of opting for short-term orders and capturing strong fluctuations during news releases to make a profit, he places long-term orders that last for the rest of the day. Before placing an order, the first thing to do is to predict the upcoming news of the day. If the news is not good, consider opening a DOWN order earlier that day (Asian session). On the contrary, if the news is good, we can open UP orders. This is a very simple trading strategy.
For example, for the 1st order on December 4th, at the EUR/USD pair, we had a piece of non-farm news. Based on the actual situation to predict, this was bad news that would make the rate decrease when announced. He did not hesitate to place an order of $500 predicting that after the next 23 hours, the price would drop.
2nd order: Also at the EUR/USD pair on December 11, the price touched the previous resistance. He said that the price would not be able to overcome this resistance that day. As soon as he finished his words, he placed an order of $500 predicting that the price would decrease with an expiration time of 23 hours.
At the end of the 2nd week, two simple winning orders brought in $820.
To make money in Olymp Trade, choose a path with few people
When entering the financial market, everyone can choose for themselves a different path. However, most of them decide to follow the old path. This is because it’s quick and less laborious. And most importantly, everyone does it, so they can’t do it differently. In my opinion, that is the reason why you lose money.
Create a trading system of your own. It will keep you from getting caught up in the crowd and easily lose money. When you let your emotions decide everything, you should be ready to lose money.
Difference brings success. And I believe trading like this will make you money in the long run if you really understand it. Or you can create your own trading strategy. It would be great if it consists of long-term orders.
The strategy for placing orders that lasts all day long will make you shorten the time you spend sitting in front of the computer screen. Either way, we can only know the results the next day. There’s no point in being impatient. Do not follow a certain framework. You can make the most appropriate editing.
Try to minimize your risk as your odds of winning will be higher. It is impossible to succeed when you act similarly to others. Be different from the crowd to make money and succeed in Olymp Trade. Have a nice day.