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Easy beginner guide on How to Trade in Olymp Trade?

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(Last Updated On: January 11, 2022)

Olymp Trade is one of the most popular trading platforms that came into existence in the year 2014. Since then, this company has gained huge success and popularity. The broker has made their trading interface really simple and easy. However, If you are a beginner I can completely understand your confusion and I will try to cover each and every doubt you have in this article.

Account types:

Olymp Trade offers three types of accounts:

  •  Fixed Time Trade:Olymp Trade is most popular for Fixed Time Trade. The Fixed Time Trade is a market where you need to predict the movement of assets, commodities & more for a fixed period of time. Later, The broker will check your trade If the same is correct you will earn invested amount + the rate of return.

 

  • Forex: Forex, also known as Forex exchange or FX Trading, is the conversion of one currency into another. It is one of the most actively traded markets in the world, with an average daily trading volume of $5 trillion.

 

  •  MT4: Meta Trader (MT4) is a popular trading platform that can be used to automate your trading. Its simple user interface gives you access to advanced technical analysis and a flexible trading system.
  • Demo Account: If you are a beginner this is where you need to start. The Olymp Traders offers you virtual money and you can trade via the same.

 

How to Trade with Olymp Trade?

Trading with Olymp Trade is very easy you need to properly select an asset that is less volatile and later analyse the market properly. You can place any trade you want but if you want to earn good money you need to consider a few important points.

 (1) Selecting a less volatile asset

Selecting less volatile asset is really important in trading If you want to gain some good profit. Assets like NZD/USD, USD CHF & more are considered less volatile and can give you some good results.
On the other hand assets like EUR/USD, GBP/USD are considered highly volatile assets which fluctuates a lot.
(2) Set your estimated Time frame
Selecting a proper time frame is really important. There are basically two types of time frames. Long time frame and short time frame. If you set the time frame within 5 minutes it is said short time trading and similarly, If you choose the chart above 5 minutes you trading at a longer time frame.
In a Longer time frame, you will notice less volatility, as a result, you can make more profit whereas, In a shorter time frame you will notice high volatility.
( 3 ) Selecting a proper strategy
Selecting a proper strategy is really important. I have covered many strategies on this website. However, you need to practice the strategy properly on a demo account and keep a proper track record of how much loss/ gain you made from the strategy. I will highly suggest you practice in a demo account like as if you are trading in a real account to gain better knowledge.
 ( 4 ) Determining the investment amount
If you are a newbie you should select your investment amount very wisely. You should also use proper money management and spend more than 10% of your account balance.

 

Final Point:

Earning money with trading is not that easy. However, If you follow the right strategy with good money management. things can be changed. In this article, I have covered nearly about beginners guide that you need to know about trading. You need to certain principles like Selecting a proper asset, Selecting a proper time frame & more.

I wish you the very best of luck ahead. May you succeed in your trading career. and please do comment below on experience about trading.

 

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