The Covid-19 pandemic is now complicated and unpredictable. The death toll has crossed the 100,000 mark, which is terrible. Doctors are fighting day and night for the health of the community. Let’s help them out by limiting going out to the streets to avoid getting infected. I was at home and simultaneously implementing the long-term plan of making money from online trading in Olymp trade with the T.L.S strategy.
- 1 Making money online with the T.L.S strategy
- 2 Principles when making money online
- 3 Good habits to do before trading
- 4 Review on trading orders using the T.L.S strategy in Olymp Trade on 07/04/2020
- 5 Review on trading orders using the T.L.S strategy in Olymp Trade on 08/04/2020
- 6 Summary of the first week of making money online with the T.L.S strategy
Making money online with the T.L.S strategy
In previous articles, I shared with you this strategy in a very specific and detailed way. If you do not understand how the strategy works, please review the article here:
And now is the first week in the series of making money with the T.L.S strategy. I will focus on the correct orders so that you can have a more intuitive look.
Principles when making money online
– Maximum of 5 orders per day. Each order should have an investment amount of $50.
– Do not trade when there is news causing strong fluctuations, preferably 30 minutes before and after the news release.
– Do not open many orders at once or consecutively.
– Never go against the trend.
– Stop if winning 4 consecutive orders.
– Also, stop if losing 3 consecutive orders.
Good habits to do before trading
In order to gain concentration quickly, I always prepare for myself a cup of coffee. It helps you stay alert in situations of making important profitable decisions.
Listen to your favorite piece of music to create a comfortable mood before trading. If you are stressed or having some problems, do not trade that day.
If you still try to enter the trade in tension, it is hard to avoid losses. So, enter the market with calmness and come out with profits. These are extremely simple but highly effective things I usually do before trading.
Keeping a balanced emotional state is the secret to success for every trader.
At first glance at the chart, I will briefly review the main trend carefully. This is extremely important for the T.L.S. trading strategy.
(i) Identifying the trend
The trend is a great friend who will accompany you and bring you profits. So, carefully identify your companion. With the right person and at the right time, everything will go smoothly.
(ii) Drawing resistance and support
The drawing of support and resistance zones also plays an important part in finding safe entry points. Please pay attention to the levels once the price has passed. In some places, the price bounces back to test the level which creates a very safe entry point.
(iii) Finding entry signals following the trend
The trend has been identified. The levels have been drawn. Now we only wait for entry signals. Entry signals include high precision candles or candlestick patterns. The priority is given to strong trend continuation candles or candlestick patterns.
Review on trading orders using the T.L.S strategy in Olymp Trade on 07/04/2020
Opened “UP” orders during the uptrend. The thing to do is to look for an entry signal right at the support level to increase the safety.
Order 1: The price broke out and formed an uptrend + a bullish Pin Bar with the lower tail touched the support => Opened an “UP” order and won. Received a profit of 70% of the investment.
Order 2: Uptrend + the price tested the level just passed and created a test Pin Bar candlestick with the lower tail touched the level => Opened an “UP” order and won. Received a profit of 82% of the investment.
Order 3: Uptrend + the price tested the level just passed and created a test Doji candlestick => Opened an “UP” order and won. Received a profit of 82% of the investment.
Order 4: Uptrend + the price tested the level just passed and created a test candlestick with the lower tail which was many times longer than the candle body => Opened an “UP” order and won. Received a profit of 82% of the investment.
This was the 4th straight winning order, so I ended my trading day here.
Review on trading orders using the T.L.S strategy in Olymp Trade on 08/04/2020
Opened “DOWN” orders during the downtrend. Now, I only had to look for entry signals following the trend.
Order 1: Downtrend + the price failed to rebound and created a good Pull-back candlestick => Opened a “DOWN” order and won. Received a profit of 70% of the investment.
Order 2: Downtrend + a Tombstone candlestick with a long upper tail touched the resistance => Opened a “DOWN” order but lost.
Take a look at the lower time frame of the signal candlestick (A) in Order 2. It is composed of 5 1-minute candlesticks (B). You can see the direction of the price (C) clearly. We saw the first 2 minutes of a sharp increase, but then a steady decrease. The probability of the price direction continued to go down was very high.
Making money online with Olymp Trade is not easy. Because this is a game of probability and you have to accept the rules of the game.
Order 3: Downtrend + the price tested the resistance with a Pull-back candlestick => Opened a “DOWN” order and won. Received a profit of 70% of the investment.
Order 4: Downtrend + the price tested the resistance with a Bearish Pin Bar candlestick => Opened a “DOWN” order but lost.
The pattern of the signal candle in Order 4 was a Bearish Pin Bar (A). It is made up of 5 1-minute candlesticks (B). You can clearly see the price movement (C) when observing with a lower candlestick time period.
The price action showed that it was possible to continue to decline when the price touched the passed resistance zone. According to the T.L.S strategy, there were enough conditions to open a “DOWN” order.
If all conditions have been met, then open the order. Our prediction is right or wrong; let the market prove it.
Order 5: Downtrend + the price tested the resistance with a correct Bearish Pin Bar candlestick => Opened a “DOWN” order but lost.
The signal candlestick (A) was a Bearish Pin Bar.
Observe in a lower time frame, we can see that it consisted of 5 1-minute candlesticks (B).
The price after hitting the resistance strongly and decisively decreased.
These are the most logical reasons to convince fastidious traders to open a “DOWN” order. But for me, to open an order, there must be all the conditions including trend, level, and signal. These are the basic elements that make up my own T.L.S strategy of making money.
Summary of the first week of making money online with the T.L.S strategy
A week of making money online in Olymp Trade has brought a profit of $78 out of total capital of $250. So the first week is a pretty good start to make a breakthrough in the coming weeks.
I myself will keep a log for each trading order. Lost orders will be clearly analyzed. From there, you can gain experience and avoid loss on similar orders.
I only trade with the T.L.S strategy, a single currency pair of EUR/USD, and a unique capital management method. It makes my own unique trading style. The most important thing is, whether I win or lose, I still shared it with you to the fullest. Because this is the place to interact and learn to improve the transactions of each individual.
Stay tuned for the following week’s article if it helps you to improve your trading.
Commitments: No luring newbie, no tempting, and no room of signal exchanging, etc. This is simply sharing and analyzing my transactions in the most detailed way.
This is the detailed list of deposits and withdrawals of my online banking account during the first week. At the beginning of the week, I will deposit money for trading and withdraw the money at the weekends.