If you love reversal trading in Olymp Trade, then do you know how to make an easy profit from it? If not, this article is right for you. I’ll introduce the Triple Rebound trading strategy based on the RSI indicator to find extremely safe reversal points.
What is Triple Rebound trading strategy?
Triple Rebound is a reversal trading strategy used by professional traders to make profits in the Olymp Trade platform. It provides the most accurate entry signals during the Tokyo sessions.
How to set up the Triple Rebound trading strategy in Olymp Trade
With the Triple Rebound trading strategy, you only need to use one technical indicator – the RSI (Relative Strength Index). However, you will set 3 different parameters to observe in turn as follows:
- Relative Strength Index 7.
- Relative Strength Index 14.
- Relative Strength Index 21.
How to trade with the Triple Rebound strategy
Since this is a reversal strategy, the best time to trade is when a trading session has low trading volumes. The market in this time will have less bullish or bearish forces, making your predictions more accurate.
Open an UP trade when 2 of the 3 RSI indicators from below the 30 moves up.
Open a DOWN trade when 2 of the 3 RSI indicators from above the 70 moves down.
Capital management is to keep your account safe and grow steadily. If you lose, it would be a reasonable loss.
With the Triple Rebound strategy, the capital management method you should use is the Martingale. If you win in any order, return to the original amount of the first one. It is best to only increase the maximum trading volume of 3 orders per cycle to avoid account burning.
For example, the 1st order you will invest an amount of $15. If you win, you will enter the same $15 in the next order. But if you lose, raise your money to $25 in the next order. In case you lose again, continue to raise money to $60 on the 3rd order. If you win, return to the initial $15 mark
To make a profit in Olymp Trade is not simply reading through high winning rate trading strategy articles. It requires you to train and experience to the fullest. So don’t rush into the market, test this strategy on a demo account first. Only when there are good results from 2-3 weeks, will you begin to think about applying it to real trading.