In order to enter a trade with high safety, you have to exchange it with your long waiting time. This is how to keep your account safe from unnecessary risks in the forex market. But with the Crocodile Dundee trading strategy, you can save time when signals appear a lot during the day and still ensure the safety you want. Right here I will review this trading strategy and how it can bring huge profits for you.
Review the Crocodile Dundee trading strategy
1-minute candlestick chart.
Enter the order with the 3-minute expiration time.
EUR/USD currency pair on June 17.
Set up the Crocodile Dundee strategy with 3 default indicators in the Olymp Trade platform as follows:
– Awesome Oscillator
Order 1: The Alligator indicator was pointing up from below, signaling an uptrend. Plus the extended Gator and Awesome Oscillator crossed the 0 line from below. Opened a 3-min UP order with $200.
Order 2: Entered an UP order when the price has met the following conditions: The Alligator indicator was pointing up + the extended Gator indicator and the Awesome Oscillator crossed the 0 line from below.
Order 3: The trend started to decrease when the Alligator indicator was pointing down from above. At the same time, the Gator indicator expanded and the Awesome Oscillator crossed the 0 line from above. Opened a Down trade as soon as the chart showed those 3 signs.
Order 4: The Alligator indicator was pointing up from below + the extended Gator indicator and Awesome Oscillator crossed the 0 line from the above => safely opened an Up trade.
Order 5: I was confident to open a Down order when the price met the conditions included the Alligator indicator was pointing down from above, the Gator indicator expanded and the Awesome Oscillator crossed the 0 line from above.
How to improve win rate?
First, you need to have a strategy with tight entry conditions. And at least 3 conditions must be met to open a trading order (same as Crocodile Dundee). When the price has met all of that, the winning rate is very high. However, you may have to spend some time waiting for an order to satisfy the conditions you set out earlier.
However, in order to be safe, you will receive a small profit. But in Fixed Time Trade transactions, the payout rate is the default (the highest is 92%). You can find high winning rate entry points to maximize your profits.
To me, opportunity is something that appears infinitely in the market. But the money in the account is limited. Take your time to choose the perfect opportunities. Experienced traders only trade around 5 orders/day. But their winning rates are much higher than ordinary traders.
Manage capital logically
Although you have a good strategy, it is not enough to make huge profits in the long run. You need to have a suitable capital management method to find the most profitable outcomes. Enter a trade with the pre-calculated amount. Don’t follow the emotions because it always makes you lose.
It can be said that capital management is an important part of helping you make a profit. Don’t skip this step when you think it won’t help. That’s the mindset of losers and you need to change it if you want to win.
Need to train your trading psychology for your strategy
It sounds strange but to make profits you need to do it. Depending on each strategy, the trading psychology is never the same.
Suppose you use Martingale to manage capital. Then you need to be mentally prepared, otherwise you will be scared by the larger volume of ongoing orders.
If you feel afraid, you will not dare to enter the order and miss many good opportunities. It can slow make your mentality worse and worse. At the end, you will be unable to make the right decisions.
Trading psychology is something that you need to practice in your trading. Too much fear makes you not confident. Too confident makes you reckless. So you need to regulate your psychological state when trading in the most stable way.
Here is my tip. Whenever I can’t control my emotions, I turn off my computer to leave the market and do other things for a while. I only return when it’s stable and I have none negative feelings in my head.
To make profits in a long run on Olymp Trade, the Crocodile Dundee strategy is the perfect puzzle piece for you. It brings almost absolute safety for users.
However, you need to experience it long enough to fully understand it. Do not rush to live trade with your own money. Test it on the Demo account first.
If you are impatient, your money will move from you to someone with more patience. Please remember that.