Well, if you are asking what account is more favorable, they truned out to be about the same in overall trading fees that you pay. Nevertheless, the ECn account is slighly more favorable + they’ve got more assets to trade on forex with MT4.
I heard that it’s scamm
You won’t believe how many times I’ve heard that forex trading is a scam, and I bet you did too. But we are all here yet, at this forum, aren’t we?
Myself I recently switched to the desktop version of Olymp. Looks exactly the same as the web version, yet it does not have the cons of the webplatfrom in terms of delays. I’ve noticed executions got a bit more fast. It might matter for those traders that use very short timeframes in their trading, like 15 seconds TFs.
Do you guys think it is possible to manage trading with Olymp if I don’t have personal computer? The smartphone I plan to use is one of the recent Samsung models, so I don’t worry about installing the app. There is enough memorey, etc. HOwever, I wonder if anybody here has got an experience trading with Olymp mobile app only. Any ideas? Thanks in advance!
They don’t have some indicators that they’ve got for a PC version in a mobile app, but mobile app has got all the drawing tools and majority of those indicators. If you are OK with working on a small screen, that might work. Personally I don’t find it convenient to type, draw or manage charts with a mobile app, so I only use it for watching the market from time to time to see if anything happens there worthy of my attention. Yet, I know many people are very convenient working with smartphnes. They can actually type there faster than I can do with a regular keyboard.
I guess I’m one of those mobile fans that you know of 
Yeah, I guess I can manage without a few indicators as long as the quality of Olymp’s service does not get much worse on mobile version of the platform.
I don’t think many people would be able to notice the executions speed difference without much of special preparations and measurements. After all, even the best executions can’t guarantee your analysis is corrrect. So, I guess if you can focus on a trading system, better focus on it and don’t worry too much about the platform you use or a device that you work on.
I totally disagree. The device you use, the speed of executions - that all can matter. That depends on a trading system that you apply. Sure enough, some strategies assume these details are unimportant. I.e the above mentioned martingale. However once yo choose working on shorter timeframes, or decreasing the ratio of reward to risk, every pip will matter as well as every slippage that might happen due to poor connection or smth like that. There are no minor details for professional traders.
Thanx, I can’t really consider myself a professional, to tell the truth. I read a lot about trading and practiced with demo account with different brokers. That’s basically it.
I decided to avoid martingale and use the trnedfollowing approach. So that’s definitely going to be forex, not fixed time trading.
Good to hear that. Newbies love martingale for some reason a lot. Yet, they don’t always understand that this approach can work for a long while, but can’t work forever, and in the end poor risk to reward ration will take away all you money in just one unsuccessful seria.
Wish you all the best on the market!
I don’t mean to argue, but there is no perpetuum mobile in trading (SnP500 long doesn’t count :)). Every system can work long enough and they will need some optimization to keep yileding profits. Some systems must be dropped simply cuz the market conditions change.
In any case, good luck man, Olymp Trade is a good choice. They are honest guys. No troubles with quotes and non-problematic withdrawals.
It’s been said here that all systems sooner or later need to be reconsidered as markets change.
From what I see SnP500 has gained back all the losses since covid19 lockdowns. Do you think that under these circumstances a trading system that considers BUY only, will be the best idea? I sincerely don’t understand why stocks price keeps growing as I don’t really have a feeling the world economy is feeling good enough. What should I trust when I trade? The charts? The “gut feeling”? The objective reality of economics?
That’s a difficult question. You’ve had a decent idea earlier that a trend-following system has more chances to succeed. Olymp suits more of a daytrading style, but even when you trade intra day, following a trend is a good idea. Trend can be clearly seen on charts, so if I were you I would have paid attention to the objective reality of the charts, not the “reality” that the newspapers claim. All analytical info immediately get reflected on charts. Period.
I understand. At least I have a feeling I understand this. But if at some point trend changes, how to recognize this change immediately. How to identify where there is a retracement and where the trend has changed?
There is no answer to this question. The only advice I can personally suggest is to use the timeframe you trade with for the analysis.
I.e you want to make a few trades today. You use the 5 min timeframe for analysis and see the trend is down. In this case, you must not take into account the uptrend that’s been going on during the last month that you can see on 4H charts, because the downtrend that you see on 5 min might be only a small retracement for mid-term players, but TODAY you will be unlikely to succeed pushing the BUY button in your Olymp platform. Better look for another asset that has got trend up on both 5min and 4H timeframes.
I think that you are digging too deep. With intraday trading, you can do dozens of trades having small profits in all directions. Riding the market is more like catching a wave in the ocean. Daytrading is like surfing near the coast. You don’t have to know where Golfstream flows to surf successfully. You identify the levels and try to bounce off them up and down. That’s it.
What kind of a trading style do you think Olymp Trade fits?
Do you think this will be possible to combine in case I don’t know for sure yet which style fits me best?
Olymp Trade fixed time trading is ONLY about short term. It fits scalping or doing very short trades that last a couple of minutes.
On the other hand, they also have forex tading where its going to be up to you to decide whether you want to keep your positions opened for longer, or trade intraday.
Personally I don’t have enough patience to make myself wait long enough for the result ((
Correct, but I have to add here that there is a firm max time limit for fixd time trading here - 24 hours. That’s long enough for ““either or”” type of a trade to tell the truth and normally people prefer using 1 minutes or 5 minutes trades for this approach. That’s questionble though whether majority is doign the right thing
Secondly I wanted to add that there are no swaps on forex trading with Olymp. Which makes it favorable for longer-term, but ok for intraday too.
Thank you both for the detailed answers! I really appreciate and I must tell I’m pretty pleased with what I learned.
Thanks once again!