This is a share – from a friend who is making a living in Cambodia, also a professional trader of Olymp Trade platform. Here’s his detailed review of the connection between Olymp Trade and Gamble.
- 1 What’s Olymp Trade? What’s Option?
- 2 How does professional bookmaker work?
- 3 Is Olymp Trade Option the same as this?
- 4 Why does Demo always win but lose after depositing money to trade live?
- 5 Is it better to trade in a long time frame?
- 6 Is making money from Olymp Trade real?
What’s Olymp Trade? What’s Option?
Olymp Trade is a casino. With 2 features: (i) Options and (ii) Forex.
(i) If you trade Option, you will be a gambler and Olymp Trade will be the bookmaker. You can simply understand: Option is one of many gaming activities in Casino (such as Sic Bo, Baccarat, etc.) You will place your bet based on your prediction.
(ii) If you trade Forex, Olymp Trade plays a role as the broker. For example, all players will play together and the Bookmaker will be the dealer – only charge small amounts of commission money for each game.
Those are the reasons why Forex is more popular than the Option. Just like many people think that Poker is a truly mind-game sport.
How does professional bookmaker work?
In particular, Sic Bo is the game of chance in the casino. Basically, you will think that is a 50/50 game. But in reality, Sic Bo is proven to be the most profitable game for the casino. There are many reasons:
– The concept in 50/50 is non-exist. If the results of each dice are the same number, you will lose even you chose big or small. Therefore, the probability is not 50% anymore. And the bookmaker takes the advantage.
– The Dice Roller. Imagine an employee who is entrusted by the bookmaker to play with you – they’re well-trained day by day. Their mission is eating, sleeping and rolling the dice. Thus, with only one adjusted power controlling skill, the Dice Roller can estimate what percentage of Big or Small will be. Although the Dice Rollers cannot control the exact number every time, but the bookmaker still overwhelms your chance of winning.
Trigger the “Instinct” inside you. If you walk in the professional casino, you will realize that without doubt. From the smallest details such as to never let you know the time passing or set up some baits stay around, everything is under control by the bookmaker (even let you win from the beginning of the game). It serves for one purpose: At the time you fall into “Psychology trap”, you will handover spontaneously all of your money to the bookmaker.
Is Olymp Trade Option the same as this?
At first, you will hear plenty of rumors about 50/50 (increase/decrease or red/green signs). But after your account’s burned several times and your experience tells you that:
– The 50/50 case doesn’t exist. The truth is that Olymp Trade’s holding higher chances of winning than you. Even if you won, they only paid a lower profit margin than which you’ve spent.
– Price at Olymp Trade platform can be manipulated. The EUR/USD price, for instance, is reduced ten times smaller than the list price in order to reform into 10 different numbers by the bookmaker. Or such other cryptocurrency pairs, there is no official Exchanges platform has listed price so that the bookmaker can set their price accordingly (Of course they have to do it reasonably).
– Besides that, when you learn the price, the question is whether you can control the time or not. The answer is no, definitely not. That is not mentioned about: If you trade short, your expiration time could be made faster or slower.
– Follow your emotions. Fast-making money + online + mouse clicking, etc. All of these things are very easy. And when anything’s related to money, people often get overwhelmed. After all, your account will vanish slowly.
Why does Demo always win but lose after depositing money to trade live?
Skipping all the impacts and algorithm of the platform to manipulate Demo account, anyone who trades Demo always wins. It looks-alike when you get in the casino: Card reading, dice guessing, etc. whatever you’ve done is always right. But when you throw real money into the table, you bet Big – result Small and you bet Small – result Big. No ways you can win and you will be “bankrupt”. This is as normal as usual.
All in one explanation: Real money makes real feelings. Whether win or lose, real money always makes you psychologically. For the first three orders, no problem occurs; however, after your 6th or 7th order your heart keeps beating faster. If you stop at that time, you’ll be safe, or else, you’ll be dead.
Is it better to trade in a long time frame?
I’ve read lots of article on this site, some people affirmed that long trading (5 mins or 15 mins, even longer) is better than 1-min order. In my point of view, it isn’t different despite it is 1 min or 1 hour. Because:
– 1 min or 1 hour is also a probability. Even the “risk of mortality” – a rate of death is higher here. Why use the word “Death”? Because all indicators increase the chance of correct prediction about the price will go up/down. But no indicators predict time. So that, to be the winner in Olymp Trade Option, you must guess all of 2 parts correctly: Price and time. Only 1 in 2 is wrong, you’ll lose your money. Need me to say more? Not only predicting the price must be right but also predicting the time. In the end, in such dual-forecasting, you’re a loser throughout this long-run.
– You can play in a long time frame so as to extend your account burning time. Though it’s not the problem of your account vanishing speed, it is all about your experience after losing money.
Is making money from Olymp Trade real?
Many years of visiting casino, I only see 3 types of people making money by their own: (i) Traveller in casino, (ii) Players against other players, not against the dealers (iii) Players know their limits. Of course it’s excluded genius who can read, remember and calculate probability in the casino. So how about players in Olymp Trade?
Type 1: Playing Olymp Trade is just for fun
This kind of people is very comfortable. They don’t emphasize on results. At the same time, they only use a small amount of money for trading, below several dozen USD. To eat, drink coffee or to fill full gas every day. Or kind of people opening a few 1$ – 5$ orders to show off, show proves on teaching posts, make IB, etc.
It is cruel that this kind of people will make money easier from the bookmaker. Surely, the payouts they earned just like mosquitoes bite, sucking the blood for living day by day. But you know that, you just need a “slap” to kill a tiny mosquito.
Type 2: Absolutely saying “NO” with the Bookmaker
This kind of people says no with Option. They trade Forex where they can estimate the price. If they guess wrong, they can cut loss. They won’t suffer any pressure about the thought that the platform can manipulate time or price. Naturally, this article is mainly mentioned about Options, so I won’t talk too much about Forex.
Don’t misunderstand that you can earn money from Forex. The death is not different except for the place.
Type 3: Know the limits
Have you heard about the recipe of making money at Olymp Trade platform? Trading method + Capital Management + Discipline + Luck = Earning money. All of that, just focus on Know – the – limits. Why?
Let’s read the above part again. If the probability right/wrong is equal to 50/50, then, in 1000 orders, you and the bookmaker are tie. But in this game, the bookmaker always has a higher chance to win than you. The more you fall into the game, the nearer you will lose. That’s not included whenever you bet 1 but only receving the payouts of 0.8.
Most of your decisions that come from your feelings are wrong. Let’s scroll up and check whether it right or not. Moreover, when facing with a phenomenal thing, you still use your mind to judge, but when your “Instinct” emerges from your inner, you will let your emotions decide. This is why your emotions always win over your rationality.
Please stop when your mind’s nearly confused. Never let your decision go on by your feelings. Just remember all of that, whether in the casino or at Olymp Trade platform or at any Options platform, I believe that you can make money.
The Olymp Trade platform might be not like as I thoughts. Or maybe, my viewpoint is different from yours. You can leave any comments below to express your opinions and I’m ready to protect mine.
Thanks for reading and Best regards.