Olymp Trade

[Deanna]

It really is worth attention, you are right. I even opened a demo account at Olymp to find out whether it's worth trying the same strategy for options trading. To tell the truth it is still difficult to judge where it works better. Forex or options. With options you don't have to decide where to place your take profit order, which is nice. On the other hand, the strategy allows catching some really nice moves…

 

[Majind]

Thanks for sharing your experience. So far looks like we don't have any precise information though. Any ideas what "really nice move" means?

 

[2iquelo]

Man, precise information means a ready-to-trade system. Almost Why would anyone expect to have it revealed in public?
However, I can assure you that the potential of a true breakout move HIGHLY depends on what you trade. SnP500 and Brent gonna have better potential as there instruments are "trendy", once they test strong levels, they start moving without minding other obstacles like weaker levels.

 

[Majind]

wow-wow, I don't expect anyone to share their professional secrets here. But in my experience all these holy grails are worth nothing in trading if you did not put much work in it and examined all the details. I don't view these forum messages as anything but small talks that can generate some nice idea. What to do with these ideas is everyone's personal business. Normally people just don't have enough diligence to trade these ideas with profit.
Anyway, having a closer look at other instruments I find that there is a seed of profit in the idea to trade this strategy using options. You might be right that stocks indices and oil are trendy, but how many trades these two instruments can generate? Especially if you prefer upper timeframes. IMHO it's better to develop a unique pattern and test it on 1H charts using all the scope of instruments with good payouts.

 

[Deanna]

Exactly! I don't use 1H really, but this definitely should be no less than 5 min bars chart. I've funded Olymp's account with $50 (my gift for myself for this New Year ) to see how good this can work on real executions and looks like many entries work really good. Very accurate entries with immediate bounce of the level! Not 100% of entries, but oh well, nothing is perfect.

 

[Majind]

Did you have a chance to test the strategy so far? Will appreciate the updates!

 

[Deanna]

Well, my stats sample is not that big so far to make final conclusions. I have some ideas but can’t be 100% sure they are correct. It looks like the initial idea of trading only after the price has made a nice impulse out of the flat - it gives more profits in comparison to trading after minor breakouts as well. Secondly, hey, in this case forex doesn’t look bad at all too. You know what? At Olymp you can switch between forex and options very easily and trade on both using the same funded account. This is very convenient! I think I will start entering both at options and forex to make it easier to compare and drive conclusions about the strategy.

 

[Majind]

I’ve funded my account too now. Finally. I think I now know more or less what I’m doing. Was really tired of looking how my demo profits grow. Thanks everybody very much for sharing your findings. I don’t like forex trading for some reason. Possibly just impatience.

 

[Deanna]

I know what you mean. Sometimes options give quick profits and this is very exciting indeed. But these profits are limited to Olymp’s payout rate. With forex you have to wait longer, make more decisions, worry lot more while the price keeps moving to the desired take profits, however if the take profit is reached, it can be twice or even thrice as big as initial stop loss. So I guess its really up to each individual trader what to prefer. Some people react to stress in a weird way, they start making strange decisions, ruin their health with excessive worries, etc. Others can stay calm. Possibly emotions can be trained too. At least I hope so, cause it seems forex trading is worth it.

 

[2iquelo]

Sure enough emotions get trained too. The most important thing in this process it to limit the amount of money you can lose while you are getting them trained