Test order is one of the best tips to keep your account safe when trading Forex and Fixed Time Trade. It is a great advantage of Olymp Trade compared with other platforms. Today, I will guide you to enter a test order to protect your account and increase profits significantly.
The idea behind the test order in Olymp Trade
The main idea is to use 1 Forex order to predict the trend of the market. If you are right, follow the trend and place Fixed Time Trade orders. If wrong, you only lose a small amount of money.
(1) Identify the main trend of the market on the 4-hour chart. Find an entry point for a Forex order in Olymp Trade. Set Stop Loss and Take Profit.
(2 If the market moves as your prediction, it means that the test order is profitable. Let’s start the Fixed Time Trade with the same amount of Forex order’s profit.
(3) If the market goes against your prediction, the Forex order will hit Stop Loss. You only lose a small amount.
How to use the test order in real trading
Step 1: Choose the asset you want to trade and analyze the price action on the 4-hour chart.
For example, I predict the price will increase soon. Then I will open an UP order with the EUR/USD currency pair. Reason: The price touches the previous Supply/Demand zone.
- Forex order: UP.
- Currency pairs: EUR/USD
- Amount: $100
- Leverage: x50.
- Stop Loss (SL) 11% = 11$
- Take Profit (TP) 30$ = 30$
Step 2: When the Forex order gains profits, that means you have predicted the market trend correctly. Now it’s time for you to switch to Fixed Time Trade and continue for open UP orders with the EUR/USD pairs.
I use the 5-minute chart and the expiration time is 15 minutes. The amount for each transaction is $5.
Observe carefully to find safe UP entry points. No need to hurry. You have already made profits from the Forex order. Just wait calmly.
Step 3: Continue to enter safe UP trades.
You can rely on the market trend or the Forex test order to open more FTT trades. In this example, if the uptrend continues, be confident to enter UP Fixed Time Trade order. On the contrary, when the trend reversal signal appears, it is best to close all orders and leave the market.
And this is the result that I use the test order to trade both Forex and FTT.
– Forex order: win.
– FTT order: 3 wins and 1 loss.
Trading is a psychological game. The better the psychology, the higher your winning rate. Therefore, a Forex order to test the market will help you cool your mind to enter Fixed Time Trade orders later.
Moreover, when you predict the right market trend, you will know what to do to make more profits.
Remember to test the strategy in the Demo account before using it. Hope you will win a lot with this interesting strategy.
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