Earn money with Olymp Trade is not easy, but it is possible. There are several options for how to make money with Olymp Trade.
Due to the high average profitability of 82% for FTT (Fixed Time Trades), you need to complete about 57% of successful trades with the same investment.
Moreover, upon reaching the Expert status, the profitability will become 92% and 53% of successful trades will be required. On the one hand, even traders who open trades at random can reach such a percentage. But in the long term, this often leads to a loss of the deposit.
To make money with Olymp Trade, you need to adhere to several rules and use strategies. Now about a few important rules:
- It is not recommended to trade in a flat. It is best to wait for the trend to appear.
- Do not open deals thoughtlessly or on emotions, open deals if you are sure of it.
- If you are a beginner, do not trade on a live account right away. In other words, a demo account is your best friend for a few months to train.
- Do not trade immediately after the release of important trading news, wait about 8-10 minutes.
These are not all the rules, but this is enough for a start.
How to make money with OlympTrade: indicators and strategies
Let’s continue the topic of how to make money with Olymp Trade – now about indicators and strategies.
By the way, one of the strategies is associated with the last paragraph of the rules. After the release of important economic news, in 8-10 minutes there is a trend movement in the assets that affect this news. This can be used for intraday trading or scalping. It is equally suitable for FTT and forex trading.
To understand where an asset will go, traders use technical analysis tools. For example, Olymp Trade has over 25 of them, this is enough for most trading strategies.
Often the most effective method is to build support and resistance levels, they are horizontal and inclined.
- To build horizontal support and resistance levels, find the places on the chart from which the price reversed. Then, draw a horizontal line there. When an asset breaks the line and is fixed outside the line, it is worth buying the asset, otherwise, selling it.
- To build inclined support and resistance levels (trend lines), you connect the lows and highs of the asset, respectively, to each other. This is how a “trend channel” is formed. Upon collision with the channel, the asset will be pushed off. When the price breaks out and fixes above the channel, trades should be opened in the direction of the breakout.
There are trading strategies in the platform itself, in the same tab as the indicators, but now they have become available only for the advanced and expert statuses.
Previously, they were available to everyone and now you can find their descriptions all over the Internet (I have not had time to do this yet).
But one effective strategy for making money, which many traders use, is worth telling right now.
How to make money with OlympTrade: strategy with martingale method
In order to earn money with Olymp Trade, traders often use one strategy.
Due to the fact that there are only 2 possible outcomes in binary options (either yes or no), the martingale principle is a good fit here. It consists in the fact that you increase the investment until you make a profit. Thus, if the profitability is 82%, then each time increasing the investment by about 2.25 times, you completely cover the loss and get 82% profit from the size of the first trade.
At Olymp Trade, you can make trades with fractional trades by rounding them to the second decimal place.
Due to the theory of probability, the chance of an unsuccessful outcome is reduced by 2 times each time. Traders rarely reach stage 7, so you can try to increase investments and reduce the number of stages. But this will already be more risky.
However, this method requires a lot of funds even with the minimum first trade, for 8 stages you will need $ 525. It is also best to combine this method with the previous ones, otherwise the probability of a failure of 0.391% at the last stage may someday occur.
