I want to open an account on Olymp Trade, but before that, I want to be sure that this is really the best platform on the options market. I am more interested in payouts. 82% - is it a lot or not really? I checked what competitors are offering, sometimes there are some options up to 90% and 95%, but only for two assets, and Olymp Trade offers around a dozen assets with 82%, but still 90% is significantly bigger than 82%.
90% and especially 95% this is most likely VIP-conditions or some other promotions. Olymp Trade offers 92% payout for VIP accounts for any assets.
Oh, then it’s clear. I don’t plan opening VIP-account anyway, but now it’s clear where such payouts come from. If Olymp Trade offers such conditions for VIP accounts, then it means that for regular accounts it’s really the best what can be. I will register, at least it’s worth to test the platform on demo-account
Their platform is awesome. On my subjective opinion it’s as good as Metatrader in terms of the functionality, but with much better interface :). Olymp Trade – is not the only company, which develop its own platform, many large world brokers also create their own solutions instead of Metatrader. The only thing I will notify - brokers with they own platform are more reliable. Because you need a lot of money to develop the new platform…
What about Olymp Trade platform… It`s certainly user-friendly for the newcomers. For many traders exactly Olymp Trade platform becomes the first. So, the reasons of the company to create their own platform are pretty clear, as for me
I disagree. Robots are used often to imitate the short-term trading and scalping Another thing, that I also don’t believe in their high efficiency. I think, that only trader, which knows the basis of programming and does everything on his own – can develop the trading system and writes the code for effective robot.
The only thing is: why someone would like to sell such a money -making machine? That’s why I think, that it doesn’t make sense to buy the robots in any case. Even if robots are forbidden on Olymp Trade – is doens’t matter. It’s better to learn how to trade and control everything on your own. Your own skill will make for you a good deal
Did I understand you correct, that the faster is trader’s decisionmaking, the better are his chances for success?
Not exactly. In fact, there is a commonly spread opinion that the larger is the scope you look at, the easier to trade. Like technical analysis works better on 1 hour timeframe compared to 1 minute timeframe. There is too much chaos in short-term trading. The other thing that you also need to find out which trading style fits you best. Some people are just very impatient to gain some profit. They would prefer to catch 10 small fish a day, rather than catch a whale once a month.
Thats me for sure! I can’t imagine myself waiting for a whale to swim in my chart window. This is why I like the idea of Olymp options. You dont have to wait too long to find out what’s happened to your bid.
That’s ok. In the beginning many people have the same attitude. Some people decide later that they want to spend only 2-3 hours a week to trade, so they switch to long-term speculations or even investments. Others simply love the process, so they keep scalping the market on a daily basis.
Great to hear that. Could you recommend some nice strategies?
Great to hear that. Could you recommend some nice strategies?
Many people overvalue the importance of technical strategy. False breakthrough, trend lines, MACD professional, POC-strategies. Guys above were discussing Olymp Trade and you can google some of the strategies there. OT has got nice manuals. But looks like all the strategies are meaningless if you don’t care about money management and risk management. Regardless of techniques and indicators used you have to keep reward:risk 2:1 or higher, always implement stop loss and those kind of things.
Agree 100%. But I do have something to add here.
What is your edge?
I mean many people worry about thousands of small details, but don’t exploit their main strengths. If you are very patient for example, you should be working on a mid-term trades with high risk:reward ratio. If you are young and fast, you can scalp. If you are good in math, you should dig into some probabilities and correlations, etc.
Hm, never thought about this way. But the idea is sound. I mean myself I’ve always thought that the most important thing is to develop a nice strategy. I never thought that this is not enough. But if you think about it, you might not be able to implement this strategy on the market if your personal characteristics do not match the required for trading system implementation.
The fact that Olymp has got both forex and options trading platforms seems quite attractive in this light. If my edge is being quick, making fast decisions, I can trade options or shorter timeframes at forex. If I am very patient, I can go for overnight trades or even investments. Nice to have a wide variety of instruments here.
Oh my, I always knew people were wrong saying that I need to be more patient in trading. Being quick is my edge! I’m a scalper, I’m not just impatient.
Ahahah, your trading results will show who you are: scalper or tilter, lol. Just be brave enough to accept the truth as it is, not as you want it to appear.
Don’t scare the guy off I think there are quite a few people who are like that by nature. They really are more suitable to trade on lower timeframes, more suitable for scalping. I think Olymp’s main audience is like that. Young and quick.
Unfortunately too many people really take impatience for “being quick”. Myself I spoke with an experienced trader last weekend. This man has been trading forex for 15 years now. He said he uses 5 minute charts, trades 3 assets (oil, gold and SnP index). He is a daytrader and never leaves his position overnight. And he said that sometimes he doesn’t even make a single trade in a whole day! I wouldn’t say I’m impatient, but I can’t imagine sitting in front of computer 6-8 hours without making a single trade :-\
Why in a world would anyone want to sit in front of a computer for 8 hours? Regardless of the timeframe you use and the scope of your trade, 2-3 hours is more than enough. 7AM to 10AM New York time is when all the fun on the market happens. You only need to be there at this time. Alright, if american schedule does not fit you, you can try the beginning of the London trading session, which is 8AM to 10AM London time. Little less volatile, but still good enough.
There really is no point waiting for miracles after lunch on these exchanges. Everyone is too tired to move the moneybags around after their noon break.
Ahahah, yeap, moving markets can be exhausting. I’m not even close to having any impact on the market at all, but even using a demo account I get very tired after 2-3 hours of active trading. Don’t know if it will be like that forever, but for now I’m not surprised traders don’t wanna do much after lunch.
The real wolves of the Wall Street definitely need their pina colada and jacuzzi relax afterwards.
Your advice makes sense. But this is necessary to consider personal characteristics of a trader as well. Excessive volatility is not always good for profits. Try trading during the FOMC meetings and you’ll see how it goes.