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Olymp Trade's trading terms
Sagamand863
#21 Posted : Monday, September 30, 2019 2:10:07 PM
Rank: New-farer


Joined: 5/11/2019
Posts: 31
Completely agree with you, 2Czar. The only thing you forgot to mention is that there is something else Doombringer is missing. This is the commission that broker takes, which is also to be taken into consideration.
By the way, when you trade forex, you don’t have to limit your wins to the size of potential losses. This is a normal practice to take profit when it reaches the size of 2-3 potential stops or even more than that.
Doombringer
#22 Posted : Monday, September 30, 2019 4:05:43 PM
Rank: New-farer


Joined: 2/19/2019
Posts: 32
Location: France
Thank you for all the advice! I’ve started practicing on Olymp demo account and its not looking that good so far :( Often I get profit, but most of the times give it back immediately doing another silly trade or even worse that that - several silly trades in a raw. However, the platform is great, the thing is I need more practicing...
Doombringer
#23 Posted : Friday, October 25, 2019 2:27:22 AM
Rank: New-farer


Joined: 2/19/2019
Posts: 32
Location: France
Guys, hello once again. You might remember that I’ve registered an account with Olymp few weeks ago. I first tried to trade options and was not quite satisfied with the results. I was fighting the market but even with demo-trading I got near zero results. Then I tried forex and I was very successful there applying the rule someone mentioned above: having 2:1 reward:risk ratio at least. So here is my other question. How do I know that I’m ready to trade with ready money? Is 2 weeks positive demo results - a sound argument to proceed to the new stage?
2Czar
#24 Posted : Friday, October 25, 2019 8:44:46 PM
Rank: New-farer


Joined: 12/28/2018
Posts: 71
Location: Helsingborg, Sweden
Depends on how confident you are in the trading system that you use. If you are not sure that you do have a trading system, then it's probably too early to start trading with real money. On the other hand staying on demo account for too long can ruin your intention to grow as a trader. Getting monetary reward is an important motivation that trader must get.
Metaur
#25 Posted : Saturday, October 26, 2019 12:30:30 AM
Rank: New-farer


Joined: 2/12/2019
Posts: 57
I’ve noticed that you had some difficulties with self-control and getting too emotional and risky even on demo account. You have to keep in mind that this emotional state is much more difficult to control when you risk and earn real money on the market. Tilt is a common disease among traders. So watch out!
Sagamand863
#26 Posted : Sunday, October 27, 2019 11:25:55 PM
Rank: New-farer


Joined: 5/11/2019
Posts: 31
Doombringer wrote:
Guys, hello once again. You might remember that I’ve registered an account with Olymp few weeks ago. I first tried to trade options and was not quite satisfied with the results. I was fighting the market but even with demo-trading I got near zero results. Then I tried forex and I was very successful there applying the rule someone mentioned above: having 2:1 reward:risk ratio at least. So here is my other question. How do I know that I’m ready to trade with ready money? Is 2 weeks positive demo results - a sound argument to proceed to the new stage?

Glad that the advice to pay attention Olymp forex platform was useful! I completely agree with previous posts on the readiness to trade with real money. I recently read a book on neurophysiology. It is said there that modern homosapien tends to view money as the direct source of food and shelter. The risk to lose money or unexpected wins block neocortex and trader starts acting like a primitive creature: in case of danger fights back, runs or pretends to be dead. Some traders start making numerous silly trades (which seems to be your case), others remove stop losses and wait hoping that the price will come to their entry point again. Some quit trading. This seems to be possible to train your mind to act wise, but you will significantly increase your chances to succeed if you start with insignificant for your financial status amounts.
Doombringer
#27 Posted : Wednesday, October 30, 2019 1:48:24 AM
Rank: New-farer


Joined: 2/19/2019
Posts: 32
Location: France
Thanks everyone for your opinions! I took all the advice into consideration and… funded my Olymp account with $150. I’ll simply try to repeat all I did with demo account but risking little money in each trade. Thanks god its easy at Olymp, because you can enter stop loss in $$. Fingers crossed!
Metaur
#28 Posted : Monday, November 18, 2019 10:42:08 PM
Rank: New-farer


Joined: 2/12/2019
Posts: 57
Doombringer wrote:
Guys, hello once again. You might remember that I’ve registered an account with Olymp few weeks ago. I first tried to trade options and was not quite satisfied with the results. I was fighting the market but even with demo-trading I got near zero results. Then I tried forex and I was very successful there applying the rule someone mentioned above: having 2:1 reward:risk ratio at least. So here is my other question. How do I know that I’m ready to trade with ready money? Is 2 weeks positive demo results - a sound argument to proceed to the new stage?

I was thinking about what you've said for a long while. In purpose, I didn't comment what you've said about neurophysiology of trading experience right after you mentioned that, cause I had to digest the information. To tell the truth, I had a very negative trading experience about a year ago. I had a feeling that broker is the one to be blamed. So I started posting lots of negative reviews saying that the broker is manipulating charts, has fake quotes, etc. I was not sure if it was true but I wanted to fight back because of my financial losses and I did. Now I understand that I chose a wrong enemy. I didn't know anything about trading systems. Enemy was inside of my head. It was difficult to admit this and the only reason I'm doing this is because there are many newcomers here. For them it will be useful to learn the lesson with someone else's experience, not their own.
Doombringer
#29 Posted : Tuesday, November 19, 2019 9:25:26 PM
Rank: New-farer


Joined: 2/19/2019
Posts: 32
Location: France
Thanks, man. It takes courage to admit your own mistakes and this is helpful for me for sure. I'm still using demo. Even on demo account I'm still unable to trade systematically. I do have a plan and looks like I've got a trading system, but still I'm making lots of trades that do not fit my plan.
2Czar
#30 Posted : Thursday, November 21, 2019 4:03:20 PM
Rank: New-farer


Joined: 12/28/2018
Posts: 71
Location: Helsingborg, Sweden
Ahaha, you don't have a plan or system if you are still saying "looks like I do". When you have a trading system, you will know for sure you have it. You will know when you should trade, which asset, which direction, under which circumstances and, most importantly, when you DO NOT trade.
Sagamand863
#31 Posted : Thursday, November 28, 2019 12:21:27 AM
Rank: New-farer


Joined: 5/11/2019
Posts: 31
Exactly! This is what Olymp Trade promotes all the time during their courses. Know your edge, get a proper trading system, then only use real money account to trade.
Anyway, Metaur, thank you so much for sharing your story. I hope newbies who trade "intuitively" and then blame everyone but themselves in their losses, will learn the lesson.
Metaur
#32 Posted : Friday, November 29, 2019 2:31:03 PM
Rank: New-farer


Joined: 2/12/2019
Posts: 57
Most importantly I have learnt mine. If it helps someone else, I'll be glad. BTW, at the moment I'm finishing my backtests and ready to open a real money account myself with Olymp. This is still a manual system for EURUSD option trading, European market session. No indicators, just support and resistance levels.
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