Olymp Trade

[KristanXX]

How can I close an order automatically? Olymp does not support automatic trading. I checked.

 

[Jurlare]

Pre-placed stoploss and takeprofit orders are used to close orders in automatic mode.

 

[Viaso]

Ooh, these your stoploss and take profit still need to be guessed. You put the orders, and the chart doesn’t reach them. How many times has this happened!

 

[Fanaudy]

I don’t always have the patience to wait for the price to reach TP. I usually close the order earlier. And when I did not guess the direction, I pull to the last, thinking what if the chart terns. But usually everything ends badly (((

 

[Deanna]

I recently opened a demo account on Olymp Trade, but I can’t find a more or less stable trading system. I have been doing forex trading for three weeks and started wondering if it's possible to make money on forex at all? I would appreciate any information regarding my question.

Well, first of all, I can calm you down. 3 weeks in trading is nothing. Even 3 months is not enough to become a successful trader, maybe somebody can manage it, but those are some single players. Think about I, if every newcomer with the decent IQ would join and make the money, then where all this money would come from? The reality is that on Forex somebody earns, somebody loses, and in order to make the money, you need to be a little bit smarter and trained than the rest. But it takes some time.
That’s correct, that you are looking for the trading system, without it there wouldn’t be any chances for the regular income, but it is not very easy to find. Actually, you won’t find the ready to go system, which would bring you some income, which is possible to find is some kind of source. And then you can improve it, change and after it to create something, which will bring you the money.
Anyway, it may take a year or even longer and all this time you need to learn and get the experience. If you are registered on Olymp, you can complete free training there – use this opportunity, learn everything they offer. And you can test the demos right there, if you like how the company works you will switch on a real account, if not – you can always find another platform.
In any case, you just need to be patient. It’s good that you didn’t get a real account right away and didn’t deposit a lot of money – many people do exactly on the opposite and lose a lot of money. You avoided this mistake – it is already a good thing, but you will have to be restrained further on as well, don’t wait for the income right away. If you are asking whether it is possible to make some money on forex – my answer is yes, of course. But people are reaching that point in years, and not everyone is staying until that. Simply, those who reached the success later look down upon and not in a rush to share their success secret

 

[Viaso]

Yes that's for sure. The main problem is impatience. I want to earn more!

 

[Majind]

Unfortunately, it took me a while to realize the importance of patience in this business. I started trading with real money practically at once and, naturally, lost a certain amount before it dawned on me that I should be more patient and learn trading at first. Then there was a demo-account, lots of training materials, courses and all the like... As time went by, I picked some basic knowledge, invented my own strategy and went on trading with it. At present, I'm quite satisfied with my performance, though there's definitely some room for improvement. But I can say that it took me almost a year to start trading steadily in the black. If I had been acting wisely from the very beginning, it might have taken me less time, but we are where we are, basically.

 

[Jurlare]

Manual adjustment is not required with proper analysis. And if traders want to get more profit, they usually use trailing profit. Unfortunately, the Olymptrade platform doesn’t have this yet. Someday it will.

 

[Deanna]

Unfortunately, it took me a while to realize the importance of patience in this business. I started trading with real money practically at once and, naturally, lost a certain amount before it dawned on me that I should be more patient and learn trading at first. Then there was a demo-account, lots of training materials, courses and all the like... As time went by, I picked some basic knowledge, invented my own strategy and went on trading with it. At present, I'm quite satisfied with my performance, though there's definitely some room for improvement. But I can say that it took me almost a year to start trading steadily in the black. If I had been acting wisely from the very beginning, it might have taken me less time, but we are where we are, basically.

Yeah, that's what I mean. When a person enters the market on his own, with nobody to ask for advice or anything, it's pretty obvious that he might wipe out his first deposit before he realizes he's doing it wrong. In that case, one has to learn from his own mistakes, we can't help it. However, if you can consult with your colleagues, you should try and learn as much as you can from their experience. In fact, there's a working plan how you can start earning on Forex: you learn theory, then you take basic training, then you have some practice with a demo, hone a strategy, and switch to the real account. Profit! All you need is follow this plan, and the success is yours.

 

[Majind]

In my opinion, if all individual traders were so clever and kept systematically heading towards professionalism, all the banks would've gone bankrupt long ago, since the traders would've taken all of their profits from Forex speculations. However, that's too good to be true. The current state of things brings some balance though - smart and patient people earn money, whereas those who keep making mistakes leave the market sooner or later.