That’s absolutely correct! I recently had a dispute with one of my former classmates. He tried Olymp Trade and absolutely hated the fixed time trading system and thinks that its impossible to make money on the market with this approach.
Personally, I prefer using FTT, forex and long-term trading does not suit me absolutely. I can’t say I’m too impatient, but I need some action to happen. I can make decisions quickly, and I love keeping myslef busy. Vice versa, this friend of mine likes to enter the trade and forget all about it. That’s why I agree, that Olymp probably is not the most suitable company for him.
Considering Olymp does not charge SWAPS, like most brokers do, that can be an option to consider for your friend as well.
I think that MT4 Olymp Trade might have swaps, so better doublecheck before using MT platform for this purpose.
Yeap, that sounds reasonable. I forgot all about swaps. LOL, actually nice if you can forget all about commissions of different kinds. To tell the truth, commissions is what bothers be a bit when trading with Olymp forex. That’s why I recently do fixed time trades only.
WEll, if the broker doesn’t charge commissions, that means he simply aims at having all of your money eventually, after a seria of your losses. Commissions that’s what honest brokers make money with, so I’d be careful about those who have suspiciously tight spreads and zero commissions.
I keep trading gold. I like this asset very much, although sometimes this financial instrument scares me when I see a row of candlesticks on one level. It’s hard to trade in this case. I would like to try silver too, but I don’t have enough margin for this, but I work on it. I’m going to trade more assets. But now due to capital restrictions I need to make a choice and it will be in favor of gold.
Why am I interested in silver too? I simply noticed that its market moves resemble what I see in gold and it gives me a hope that I can trade silver as gold. Of course, there’s some difference but they are alike in many regards, to my mind. What do you think about trading silver?
I think that gold and silver would be a good tandem. Their market moves are really similar, but not the same. You can certainly trade them both if you are able to control the situation and have enough funds in your account. As I understood, now you can’t afford trading more than one asset.
As for candlesticks on one level, I guess you mean candlesticks stiffed between very tight resistance and support levels. Yeah, a horizontal row of candlesticks is an unpleasant and cunning thing. It can last for a long time and always ends up with a breakout: a real or false but it will be 100%. Gold often creates such patterns.
I heard that it makes no sense to trade gold on H1. It requires higher timeframes.
I think you can trade on any timeframe if you analyze the market correctly.
I can understand why people advise to trade gold on higher timeframes. Sometimes it’s hard to trade it on h1, although I prefer exactly this timeframe. I trade gold in the Forex mode. The possibility to work with fixed amounts on this platform is what I need because it allows me to cautiously and gradually increase my depo. You know that I started with money that my mom and dad gave me.
Gradually I managed to increase my deposit to $156. Of course, you will not probably find this amount impressive. Nevertheless, it motivates me to continue with my chaotic attempts to earn money trading Forex instruments on this platform. I told “chaotic” because is not as organized as it should be. I’m still struggling to be persistent and patient and I’m overwhelmed with a strong desire to try as many assets as possible. Unfortunately, I don’t have enough margin for this. This growing curiosity often blocks my capability to trade. I like to learn but this enormous desire to learn everything suspends me, although this feeling is quite pleasant because I’m looking forward to changing my life for the better.
All novice traders are overloaded with information and struggle to act rationally. You will have to undergo this stage. Sooner or later you will come down and focus on several assets that fit your individual psychology.
Yeah, some people forget that only certain financial instruments are psychologically compatible with them. Others can bring them nothing except for losses. It’s not about their trading skills. We are all just different. Some trade EUR/USD well, others benefit from gold.
I already see that gold is compatible with me. At least, I increased my depo trading mostly this yellow metal. However, I also took an opportunity to try silver as soon as I had enough funds for it.
Silver met my expectations as a financial asset that follows gold. Of course, their moves are a bit different but not so much. You can spot some differences on smaller timeframes, but on higher ones they are “brothers”.
I also want to try my hand at crypto trading. I will do this once I increase my depo more. I don’t have extra money, so I prefer to be cautious. That’s the only way I can compensate for my lack of knowledge. But in general I’m optimistic about my trading with this broker.
If you ask me, I have read some good things and some bad ones. But I have never used it ever. I can’t say whether it is a good broker to go with or not. You must test that yourself and try to make an informed decision instead of following the herd.
I recently intended to start trading cryptos but had to change my mind. I heard that there’s a long lasting uncertainty about cryptos. So, I decided not to try that stuff. My depo is not so big to sacrifice it.
I think I should try my hand at currency trading. I’m in the process of choosing currency pairs.
I don’t think that everything is so bad with cryptos. I guess that’s just another correction.
Currency trading is more complicated than crypto trading because you are expected to take into account a number of fundamental factors, not to mention technical analysis. However, currencies are far more reliable assets than cryptos. If cryptos are just another market bubble, currencies will survive anyway because they are regulated and backed by governments.
What’s better for trading:EUR/USD or USD/CHF?
I think that you should stick with USD/CHF. It’s much easier to trade than EUR/USD. The latter can be very cunning and bite you painfully. What’s more, USD/CHF is more liquid. Therefore, it’s more profitable. Of course, it increases potential loses, but it’s compensated by better predictability of this currency pair. USD/CHF and EUR/USD go in the opposite direction. So, it’s possible to trade them both - you sell one and buy another or vice versa, but since you are a beginner, I advise you to trade USD/CHF.