Thanks to a reader sending his pictures to our mailbox confiding “I’ve just burned all of my Olymp Trade money”, we will synthesize the “stupid-things-but-still-doing” when trading at Olymp Trade: What are the reasons that makes you lose money when trading at Olymp Trade?”
- 1 Mail: I’ve just burned all of my Olymp Trade money
- 2 Stupid things that traders still do at Olymp Trade
- 3 Opening too many orders at the same time and consecutive opening orders when trading at Olymp Trade
Mail: I’ve just burned all of my Olymp Trade money
There are 2 pictures sent quickly via email to our website. It’s a sad story about opening 5 orders and burn $700 immediately. Each order only takes 1 minute or more. Exactly less than 10 mins, $700 disappeared
Picture 1: Showing off the just-burned-empty account
Picture 2: Explaining why the account’s burned
I don’t know how you feel but I felt regretful when a lot of money is blown out in less than 10 mins. 5 orders: 1 win – 4 lose.
The method of trading at Olymp Trade that you’ve been chasing might be just depending sole on luck. And of course, if you trade with no rules or proper methods, losing money is inevitable.
Stupid things that traders still do at Olymp Trade
All in – in only one transaction
It is considered as the most foolish thing at Olymp Trade – All in. It means you used up all your money in only 1 order. After that, you start praying and everything now depends on destiny.
If all in, your account will blow up. Because this is simply a decision that comes from your emotions. And if you are the one who can be overwhelmed by emotions easily in this type of game, you are definitely a loser
The illusions of the certainly successful method when trading at Olymp Trade
It is one of many reasons that make you lose your money. You learn, read, listen somewhere about – the ultimate method that can help you earn money like “The One”.
Unfortunately, these are stories that you just need to brainstorm “a little bit” to realize that is a scam. Who would tell you the secret of making money for free? Yet, you still believe in the liar and go on, etc. As a result, you burn all of your money and find yourself be like a foolish donkey.
You believe that it is better to join a signal group than trading alone. You’re greed when someone shows off their money or their victory. Then “Master Trader” appears and makes the game more attractive. But the result stays unchanged: The person, who always loses money, is you.
Opening too many orders at the same time and consecutive opening orders when trading at Olymp Trade
Consecutive opening order is understood as the psychology to trade reversely. For example, If the market is falling, you bet the green candle and you lose. After losing, you continue to open an Up order. Losing again, you open another UP order and so on… Unfortunately, the market created 12 consecutive red candlesticks. Keep betting on the green candlestick and your Olymp Trade account will run out of money.
Opening too many orders at the same time is also a very dangerous way to trade. Your money will fly away due to your aggressive trading emotions.
Calm down and take a look. This is the obvious losing-money- way to trade. If you trade Fixed Time Trade without methods, it will bring you to death.
The faster you know, the easier you die
Admitting that the bookmaker with full technology to manipulate prices, control time expiration, etc. But you still open short orders blindly.
True that the 60 second order can’t earn money at all. However, if you get too deep into opening short orders, you will increase the probability of losing money. In addition to the fact that the price can be manipulated easily by the bookmaker, you can also kill yourself by opening short orders repeatedly.
The faster the expiration time is, the harder you control yourself. Your rationality will be washed off by emotions. Finally, you will make the wrong decisions and lose money for sure.
What kind of stupid things have you done when trading at Olymp Trade? Please comment below this article.