Because of the complicated development of the Covid-19 epidemic, the decision to stay at home and look for investment opportunities with a pc or laptop is a safe option for the health of yourself and those around you. In this article, I will give a few tips on how to increase your win rate when trading in the OTC (Over The Counter) market.
And first you need to know the benefits of this market.
The reason most people go to the OTC market to trade is for the opportunity to make more profit than usual. Every once in a while, you will see a very rapid increase in profitability on OTC assets.
- For traders with Starter status — up to 82% profit
- For traders with Advanced status — up to 85% profit
- The highest are traders with Expert status — up to 92% profit
So do trading strategies work in the OTC market?
Usually the normal strategies you found online don’t work in the OTC market. So how to trade in this market? It is to observe the movement of a currency pair, like I only trade USD/JPY in the OTC market to increase my chances of winning.
You can see the picture below where I got 2 strong bullish signals.
– Bullish Harami candlestick pattern signals a bullish reversal at the end of a downtrend.
– The RSI is in the oversold zone from below 30, signaling a strong increase in price again.
When I have the opportunity, I opened 4 consecutive UP orders in a row. That means when the first order in the last seconds is in a safe winning zone, I will continue to open the second order and so on. If I encounter a losing order, I will stop trading.
Find a quiet time to focus on trading
Trading in the OTC market has never been easy. You need to stay focused and avoid being distracted by the environment around. So at the weekend, in addition to the time used to rest and relax, you can absolutely earn extra income when trading in the OTC market.
First of all, the weekend is a good time to analyze the market in a quiet space. This is especially true if you are one of the many traders whose day job makes it impossible for you to spend more time trading during the week.
Housework and children have taken up most of your day. So for many people, the weekend is their only chance for uninterrupted trading.
When the Covid-19 epidemic is becoming extremely complicated like today, staying at home on weekends, sitting in front of a computer screen and looking for profits with Fixed Time Trade in the OTC market is the most feasible thing at this time.
Tips to increase your win rate when trading the OTC market
The OTC market is a place where you can make profits easily with patience and discipline. I have spent a lot of time observing and following the behavior of the USD/JPY currency pair. From there, I build my own strategy for this market on weekends.
To increase your win rate when trading in the OTC market, you need to note three things:
– Prices fluctuate without any rules. Therefore, it is necessary to understand the movement habits of a single currency pair that you love. From there, setting up a strategy in accordance with price movements that brings high winning rate orders.
– Payout rates are high but change quickly. So before entering the order, you need to look at the payout ratio to have as much profit as possible.
– It is recommended to use the RSI indicator to find entry points when trading in the OTC market. Because according to my observation, the price of currency pairs will often reverse in the overbought and oversold zones as a habit in the weekly Saturday morning.
Finally, you should test the strategy you build on a demo account first. That will help you avoid losing money in the testing stages.
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