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Withdrawal requests being processed is the most hard-to-accept answer by major brokers like IQ Option as your withdrawals have been placed since last week. Unacceptable! Depositing is as quick as lightning but withdrawing is as slow as a snail. All of this has been a buzz in the options trading community. What is the truth behind? Is it true that IQ Option does not pay profitable traders? This article can partly help you to answer those questions.
Does IQ Option really fail to pay profitable investors?
First, you need to understand the deposit and withdrawal rules of IQ Option. This is to avoid breaching the regulation leading to the cancellation of withdrawals.
– A minimum of $10 and a maximum of $1,000,000 are required for each withdrawal.
– Before withdrawing money, you need to verify your identity in IQ Option.
– When your withdrawal order status shows “Complete”, it means that money has been paid as required. The next process will depend on your bank or e-wallet. Please wait up to 9 days to receive the money. If after that time, the money has not been credited to your account, you can contact the support of the e-wallet or the bank you used to request payment.
– In IQ Option, withdrawing should use the same method used for depositing. This is IQ Option’s anti-money laundering policy.
After placing your order, the request will be processed within 3 days for regular accounts and 1 day for VIP accounts. Payment time depends on the bank or e-wallet system (within 1 day for e-wallets and 7-9 days for banks).
This is the sharing proof of a friend who withdraws profits on a regular basis.
Withdraw money from IQ Option
If the procedure is correct but the money is still not credited, what should we do?
Due to some IQ Option and 3rd party procedures that you require, the time will take longer. It can take up to 14 days, which is the slowest time for the money to come to your account.
This is an example of a guy who withdrew some money but has not received it yet. He posted it on the forum for advice.
Questions about IQ Option long payment processing time
He said that IQ Option failed to pay him. Therefore, his comments were argued by other members.
Other members argued
This was accompanied by other members’ feelings about IQ Option
Evaluate the reputation of IQ Option
Finally, the money came to that trader after 11 days.
Finally, the money was in the account after 11 days
This is also considered a typical trick of buying time on most platforms. Its main purpose is to make you impatient to cancel your withdrawals. After that, you continue to trade. If you win, the platform will do the same trick to keep the money. If you lose, there will be no money to withdraw. So what is needed is the principle. Once a withdrawal request has been placed, never cancel it.
Moreover, this is a reputable financial website that ranks IQ Option in the top 21. Currently, I have never had a problem with the withdrawal of the IQ Option platform.
The ranking of reputable financial websites
IQ Option does not pay because of committing financial fraud
If you join the IQ Option community long enough, you will see some members buying accounts with a negative balance. Why do they buy accounts with a negative balance? If they did so, there would certainly be some benefits. I know what they do after buying accounts with a negative balance for personal gain. That violates the IQ Option’s regulations. If detected, they will be investigated. During that time, the withdrawal is almost not processed.
This is a typical example of being blacklisted.
Financial fraud violation account
These are the withdrawal orders of the above account. IQ Option does not allow withdrawal of profits. Only the initial deposit amount can be withdrawn.
Withdraw capital only, not profits
Personally, I do not support this. If you do not trade, do not participate. Because sooner or later, fraudulent acts will be detected and handled. Do not, because of that, say it badly that IQ Option does not pay traders.
If anyone really wants to know what they do with negative-balance accounts, just inbox me, I will reveal.
If you trade options and say that the IQ Option platform is not reputable, I challenge you to find a better broker.
This is proof of joining a scam platform
GGtrade is a Taiwan options trading platform with a branch in Vietnam. It supports Vietnamese people in the most professional and fastest way (to kill yourself). However, when you make a profit, there will be 1001 reasons for them not to pay you.
Below is an unpaid example on the grounds that the provider is faulty. It is unreasonable. It would be more reasonable if they say that because you win, so will not pay you. What if the 3rd party causes us to lose due to technical errors? There are plenty of such kinds of wisdom for sale in my hometown.
This is a GGtrade account with a balance of $1138.55 shared by a reader. The platform refused to pay this account holder.
A GGtrade account with money locked up
A support staff explained in a very confusing manner.
Confusing explanation from GGtrade
These are consecutive vague answers that the account is being investigated for fraud.
Vague replies from GGtrade
In the end, the account holder still cannot receive the $1138. Here is the quote from the reply email “You have executed a total of 174 trading orders, including 164 30-second orders. For the 30-second transactions, we are checking the system for the past time. The prices of 30-second transactions would be false from the provider side.Therefore, we need to verify each of your transactions to see if they are correct or not. This takes 2-3 months. If there is a mistake in the transaction, your account will not be processed. It will permanently be frozen and all the profits will be recalled.”.
It is ridiculous. If you win, you will get reported for violation. So, you can only lose here. Oh my God!
Proof that GGtrade platform does not pay traders
This is proof for countless scam options trading platforms that have appeared in recent times. Before putting money into a trading platform, the first thing to do is look at the reviews from the online community. For GGtrade, almost every review is a scamming report.
To conclude
If you have problems with the deposit and withdrawal process on IQ Option, you should also stay calm and see why your withdrawal is not approved. Contact the support team immediately for the fastest support.
Finally, don’t listen to other IBs’ unfounded words that IQ Option doesn’t pay traders. They do this to easily lure you into scam platforms. Be alert before investment opportunities.
Etoro is considered the rising star in the world of CFD and cryptocurrency trading. In parallel, it also provides many other convenient services. However, they have indeed led the Fintech revolution for over a decade and built the reputation of the leading social trading platform in the world.
Etoro started out as a joint trading platform. However, they soon integrated cryptocurrencies and other trading tools to keep up with the changing market and increasing customer demand. They are among the pioneers in adding social features to the platform in the form of CopyTrading and CopyPortfolios.
Today, there are more than 10 million registered users on Etoro. This proves that Etoro is a pioneer in the field of combining social networking with trading. Let us take a look at the Etoro platform in detail.
A detailed introduction to Etoro
Risk warning: CFDs are complex instruments and run the risk of losing money quickly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take a high risk of losing money.
Etoro actually started in 2007 with three founders wanting to make transactions easier for everyday users.
At the same time, they want to reduce their dependence on banks and other traditional financial institutions. Etoro started out as an online trading platform with charts representing financial instruments and an intuitive interface.
The history of Etoro platform
Development process
– In 2009, Etoro launched the WebTrader trading platform. It included a wide range of professional tools for traders of all skill levels.
– In 2012, Etoro added stocks to its other assets such as currencies and commodities.
– The Etoro mobile app launched in 2013 for Android and Apple, expanding the reach of the platform. This was also when Etoro provided the convenience of cryptocurrencies, helping to trade Bitcoin through CFDs.
– In 2015, the platform updated the interface for a more creative and intuitive experience.
– In 2016, Etoro added CopyPortfolios. The managed portfolios included various assets of top successful traders in the trading market.
– In January 2017, EToro expanded its reach in the crypto world by adding support for crypto trading to the platform. They started with a bunch of popular cryptocurrencies, including Ethereum, Litecoin, and XRP.
– In 2019, they launched eToroX – its own cryptocurrency.
Which cryptocurrencies does Etoro support?
Compared to other platforms specializing in cryptocurrencies, we can see that the options for supported cryptocurrencies on Etoro are relatively limited.
This is the result of focusing on developing the system as a common trading platform. It is opposed to a platform that only focuses on cryptocurrencies.
You can own the most popular cryptocurrencies. Supported categories include Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, and Ripple.
The Etoro crypto-supported portfolio
Cryptocurrencies are an unregulated investment product that is very easy to disappear. There is no policy to protect investors. Your capital is at high risk. Indicative price and current market price are both displayed on the eToro trading platform.
What sets eToro apart from other platforms?
One of the things that make Etoro stand out from other platforms is the number of portfolios and trades available.
Thanks to the many ways to invest and trade, users can utilize the same platform for the need to trade cryptocurrencies alongside traditional assets.
Etoro’s social elements also make it unique, namely CopyPortfolios. This is a long-term investment in the form of a managed portfolio. These include top assets and traders with predefined strategies. The ability to copy investments of successful traders is also very innovative.
The stand-out of Etoro
Which trading tools does Etoro offer?
The system aims to educate traders and provide them with a platform for investing.
Once registered, eToro users will get a Cameron virtual currency account with $100,000 so they can trade using strategies and skills before investing with real money.
Etoro also offers many other tools to help with practical trading such as the economic calendar. Just enter the date and time zone you want to see and the assets you trade. The system will then display economic news with updated events that are likely to affect your trading assets.
In addition, it provides the most detailed regular market analysis and market overview. So you can use a lot of useful information if you need a reference.
Every asset that is available for trading on the platform has its own page. There, you can view detailed information, news, charts, and research.
CFD (contracts for difference) is a type of derivative transaction. With CFD, traders can speculate whether the global financial markets are moving up or down. This can be done with cryptocurrencies as well as indices, stocks, currencies, treasury, and commodities.
The important thing to note about CFD trading is that you are not going to buy or sell an asset as you normally would. Instead, you sell or buy certain units of a platform based on a prediction of whether the price will go up or down.
When the price moves in your favor, then you will get many existing CFD units that you sold or bought. You will lose money when the price goes against the initial prediction. You need to be cautious in CDF trading as possible losses can exceed your deposit (negative accounts).
How is CFD on Etoro?
Trade CFD with Bitcoin
On Etoro, trading CFDs and cryptocurrencies go hand in hand. As mentioned earlier, Etoro first entered the crypto world by offering Bitcoin trading through CFD in 2013. This makes eToro a pioneer in the crypto investment world.
CFD trading continues to play an important role on the Etoro platform. Because many transactions involve cryptocurrencies with CFD contracts instead of trading with actual assets.
Starting September 3, 2017, people investing in crypto BUY positions on Etoro actually own the assets on the trading platform. Before that, they owned a CFD that was not an asset. In addition, eToro offers actual cryptocurrencies trading. If you choose to open short positions or SELL cryptocurrencies on Etoro, this is still CFD.
What is CopyPortfolios?
CopyPortfolios has been added to the Etoro platform recently. This feature is available for crypto as well as traditional trading. This creates a tradable asset by selecting an investor with a good trading strategy.
What is CopyPortfolios?
During the crypto bull run in May 2017, the fund grew 66%. In the first three months, that fund generated more than 125% of profits under the name “Crypto CopyPortfolios”. This is a CopyPortfolios made up of a balanced crypto portfolio containing Bitcoin, Ethereum, Ethereum Classic, Litecoin, Dash, and Ripple.
What is CopyTrading?
Another cool feature on Etoro that you can use for crypto and foreign currency investment is CopyTrading.
Copytrading is an innovation that allows users to look at other traders’ profiles and copy them. That means profits will reflect their trading efficiency level.
Good traders are more likely to become popular investors of their users if they have low-risk scores and deliver steady profits.
They then receive a reward for sharing effective strategies. By utilizing CopyTrading and copying an investor in your portfolios, you can invest in the market without having to do too much research yourself.
Copytrading feature in Etoro
Past profits are not an indication of future results. Transaction history is presented for less than 5 years and may not be sufficient as a basis for an investment decision. This is not investment advice. Please consider before using the CopyTrading function.
Who can use Etoro?
Etoro can be used by anyone, as long as it’s legal in the host country. Etoro has an active list of countries where the platform is blocked due to changes in the regulations that conflict with transaction laws.
This means that people in the United States, Canada, Vietnam, Cuba, Japan, North Korea, Iran, Syria, Turkey, Serbia, Albania, and Sudan can legally use the Etoro platform.
The Etoro platform prides itself on offering tools that traders of all experience levels can use. Even so, you must have at least $200 to join CopyTrading and invest a minimum of $5,000 for CopyPortfolios.
The minimum amount for positions is based on the investor’s options. For currencies (like cryptocurrencies) and commodities, it’s just $25.
For stocks, it is $50.
Finally, for ETFs and indices, it is $200.
For those who signed up on April 2, 2017, or later, the rule of a minimum trade depends on the level of choice, in the form of leverage multiplied by the investment amount. Regarding cryptocurrencies, this minimum total is $200.
The minimum amount for ETFs and stocks is $500. For commodities, it’s $2,500. And for indices and for Forex, it’s $5,000.
For example, if you open a cryptocurrency trade with a leverage of x1, you must invest at least $200. However, if you choose to invest $100, you must have minimum leverage of x2.
How does eToro charge?
The Etoro platform profit from the different fees it charges on customers’ investments. Etoro does not charge a fee to open a position, but instead, it charges on the spread. There is a list of minimum spreads for each cryptocurrency.
We statisticize that spreads vary based on liquidity and market conditions.
The daily break difference is as follows: 1.5% for BTC, 5% for BCH, 3% for DASH, 2% for Ethereum, 5% for ETC, 3% for LTC, 5% for NEO, 5% for XLM, and 3% for XRP.
Transaction fees in Etoro
Due to the nature of cryptocurrency trading is trading over 24/7. And especially, there are no fees on overnight or weekend transactions. Etoro only charges on users holding highly leveraged Ethereum or BTC positions. It can be said that fees vary according to market conditions.
eToro customer reviews
Platform users agree that the Etoro platform is easy to use. Etoro has an intuitive interface that makes it easy for beginners to perform transactions.
You can use the platform on PC, Mac, Android, or iOS devices. Etoro’s beautiful, intuitive interface always displays information related to cryptocurrencies and other assets. It adopts a rich variety of charts that make traders feel comfortable.
In general, Etoro has global online brands. The platform has been established for quite some time so you can be sure that your money is safe. The complaints from users are often about traders from whom they copied did not perform as well as planned.
This is not these traders’ own fault. The trading process is a complicated job because everyone experiences losses as well as profits.
Other issues revolve around Etoro heavily promoting that you can buy Cryptos when trading with them. But in reality, you don’t actually own the asset. This is the same for all brokers of this type. If you want to physically own crypto assets, you will need to purchase them on the Coinbase exchange or Binance exchange.
There are many methods of depositing money into eToro. So you can choose the one that best meets your needs. Remember that different methods have different minimum deposits.
You can choose to deposit money via wire transfer including Domestic banking, Visa, MasterCard, NETELLER, PayPal, Yandex, Webmoney UK, Skrill, and other services.
To withdraw money, you must fill out a form. Then, you may receive money as requested via PayPal, domestic bank, Visa, your Mastercard. To withdraw money, you will need a scanned copy of your ID, a colored copy of your passport, and proof of address.
Deposit into Etoro
Integrated utilities of the eToro e-wallet
Etoro has officially announced a crypto-focused trading platform targeting customers in the United States. This is in addition to a cryptocurrency wallet and a built-in mobile app that allows for the purchase of cryptocurrencies with a credit card.
The service has been announced and allowed US customers from 32 states and territories to trade different amounts of cryptocurrencies. These include popular assets such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP, Dash (DASH), Neo (NEO), and EOS.
At the same time, the multi-signature crypto e-wallet supports six cryptocurrencies including Bitcoin (BTC), Bitcoin cash (BCH), Ethereum (ETH), Litecoin (LTC), Stellar (XLM), and XRP. Additional currencies will be added in the future.
Etoro has also announced that the smartphone e-wallets are available to both iOS and Android device users.
Existing Etoro users can log into their e-wallets to trade and store cryptocurrencies. They can also convert assets in the e-wallets with just a few clicks. Alternatively, you can also receive and send money by sharing your e-wallet address or using a QR code.
The Etoro e-wallet allows users to:
– Manage and store many cryptocurrencies.
– Exchange between cryptocurrencies.
– Transfer cryptocurrencies from their Etoro account (limited to certain cryptos).
Etoro e-wallet
How to buy cryptocurrencies with a credit card
Etoro customers can buy cryptocurrencies directly from Etoro e-wallets using a Visa card. The investment platform has partnered with a popular third-party payment provider named Simplex. From there, eToro allows integrating Visa and MasterCard payments.
After completing the process, your purchase will be transferred to your Etoro e-wallet.
It’s important to note that Simplex can choose to approve or deny your request. They will ask for additional documents or proof of identity. These may include government-issued official documents or selfies. This service is also subject to the following fees and restrictions.
eToro e-wallet fee
Fees for converting from e-wallets to cryptocurrencies:
– The eToroX fee is 1%.
– The Simplex fee is 4%.
eToro e-wallet fee
The actual market rate is determined by EtoroX. Once the transaction is approved by Simplex, the blockchain fee is deducted from the purchased cryptocurrency. The fees above are applied to all cryptocurrency transactions.
Note that additional fees may also be accrued as a result of fees imposed by your bank or credit card issuer.
Is Etoro safe?
To give users peace of mind, Etoro takes steps to provide security. The entire company is fully under regulation and complies with the FCA and CySEC guidelines. To help traders make responsible decisions, the platform offers a wide range of tools for all experience levels. Tutorials for first-steps and risk management features are also available.
Etoro also takes precautions to ensure that customers’ money and personal information are secure.
With all of that in mind, you should remember that there are no crypto regulations. Because of this, if you join in crypto trading or investments related to cryptocurrencies, you will not receive insurance from an investor compensation program in the UK or Cyprus.
Even so, Etoro prides itself on solving problems as seamlessly as possible. In addition, there are many social platforms where you can sign up for complaints, which can be shared with other users.
In conclusion
Though the Etoro platform focuses on more than just cryptocurrencies trading, it is a useful platform for traders trading cryptocurrencies or CFDs.
The additional features of the Etoro are what gives it the advantages such as CopyPortfolios and Copytrading together with various charts. This platform is also very intuitive, making it attractive to everyone.
It is also a great platform for regular stock trading and Forex, or invest in pre-built portfolios in different industries.
We have been using Etoro for years now and have had no problems with them. Deposits and withdrawals are processed quickly and reliably.
Etoro has proven to be reliable in the industry for many years. We recommend that you try trading in Etoro to protect your pocket.
As a trader in Olymp Trade, which indicators have you used in your trading? Today, I’m going to teach you how to use a very popular indicator to trade effectively. It is how to open orders in Olymp Trade using RSI divergence.
The problem is when you use a certain indicator, you don’t really understand what it is telling you. From these “misunderstandings”, you still open orders according to your hunch. And so the transaction fails. When you’re wrong, you’ll have to find something to blame. The trading strategy or method is the first thing that comes to your mind.
This article will make you change that view. I will use the very simple and familiar things in Olymp Trade to demonstrate to you: “Trading success or failure is all up to you.”
Video on how to set up RSI indicators and identify resistance/support levels in Olymp Trade
Here is a video on how to set up RSI indicators and how to draw resistance/support levels for beginners. If you have already known it, you can ignore it.
What is the RSI indicator?
In technical analysis, RSI is an indicator that measures the relative strength of the market. In Olymp Trade, the RSI indicator consists of 3 main components: The overbought level (70), the oversold level (30), and the RSI which goes along these two levels.
The RSI indicator works as follows:
+ When RSI hits the overbought zone (70) of the market, the price will tend to decrease.
+ On the contrary, when RSI hits the oversold zone (30), the price tends to increase.
What is the RSI indicator?
What is the RSI divergence in Olymp Trade?
This is the signal used in the Olymp Trade strategy that will be introduced in the next paragraph. So, I will repeat it to let you understand.
RSI divergence is the phenomenon of RSI acting against the price. Details are as follows:
+ The price creates 2 peaks of which the following peak is higher than the previous peak. However, RSI reports a downtrend. Then we have bearish RSI divergence. Following a bearish RSI divergence, prices are likely to decline in the future.
+ The price creates 2 troughs of which the following trough is lower than the previous trough. However, RSI reports an uptrend. Then we have bullish RSI divergence. Following a bullish RSI divergence, prices are likely to increase in the future.
RSI divergence is the phenomenon of RSI acting against the price
Above is all knowledge to remember about RSI indicators in trading. If you want to learn more or do not know what the RSI indicator is, You can review this article:What is the RSI indicator?
How to trade effectively using RSI indicator combined with support and resistance
In this strategy, I will use the RSI divergence. As you can see, after the RSI diverges, there is a high probability that the price will reverse. What we still lack now is a warning signal of when a price reversal will take place. And coincidentally, the resistance/support levels do this very well.
Specifically, when the bullish RSI divergence occurs, the price will create 2 consecutive peaks. After creating 2 peaks, a support will appear. If the price breaks out of this support and goes down, there is an extremely high possibility that the price will plummet.
The same goes for a bearish RSI divergence. When the price makes 2 consecutive troughs, it will have to create a resistance between these two troughs. And when the price breaks out of this resistance to go up, there is an extremely high possibility that the price will rocket.
So, we will open a trend reversal order like this:
How to open an order in Olymp Trade when RSI diverges
+ Open an UP order as soon as the candlestick completes breaking out of the resistance, and at the same time, the bullish RSI divergence appears.
How to trade RSI indicator combined with support and resistance
+ Open a DOWN order as soon as the candlestick completes breaking out of the support, and at the same time, the bearish RSI divergence appears.
How to trade RSI indicator combined with support and resistance
This is how to open an order based on both technical analysis and price action. So the given signal is very reliable and safe. You should open FIXED TIME orders with a long expiration time. This will be the best way to trade in Olymp Trade following this strategy.
How to manage your capital with this Olymp Trade strategy using RSI indicator
The disadvantage of using RSI divergences is that you need to be patient waiting for trading signals. In a day, the RSI divergence appearance is not much. So you can prioritize 15-20% of your balance for each order of this strategy. Open only one order per day with a constant investment is a safe way of managing your account capital.
For example, I deposited $500 into Olymp Trade at the beginning of the week. I will open orders with a capital of $100 per day. So, my capital will be divided into 5 orders from Monday to Friday. If you open the orders correctly, the profit at the end of the week will not be small ($228 or 45.6% of your account balance).
How to manage your capital with this Olymp Trade strategy using RSI indicator
Trading principles
This part is indispensable. It helps you manage your emotions to protect your achievements as well as your account. With the RSI indicator trading strategies, you need to keep in mind a few principles:
+ Only open orders when there are enough signals. Be aware that the RSI divergence does not occur much. And even when the RSI diverges, you need to make sure the price has to break out before you open your order. If you can’t find such signals for the whole day, turn off the computer and do nothing.
+ Do not open more than 1 order per day. Remember that less is better. You should only open orders when the odds of winning are so great that you are willing to risk your own money.
+ Limit or do not trade on the day in which prices are affected by the news. When there is news in the market, the price will only follow the news. The RSI will definitely not be correct anymore when news comes out. Let’s skip that day.
Trading principles in Olymp Trade
Practice some test orders with the Olymp Trade strategy using RSI divergences
Here are some orders I tested using this Olymp Trade strategy. Efficiency is very high with 3 wins out of 3 orders.
1st order: In the EUR/USD pair, a bearish RSI divergence appeared. The price broke out of the support and turned down. Opened a DOWN order with an expiration time of 20 minutes. I won.
Some test orders using the Olymp Trade strategy combining RSI and support/resistance
2nd order: This was the EUR/JPY pair with a 5-minute candlestick time frame. The price again broke out of the support when RSI divergence appeared. Opened a DOWN order with an expiration time of 20 minutes. I won.
Some test orders using the Olymp Trade strategy combining RSI and support/resistance
3rd order: In the GBP/USD pair, a bullish RSI divergence appeared. After the candlestick completed breaking out of the resistance, I opened an UP order with an expiration time of 20 minutes. I won.
Some test orders using the Olymp Trade strategy combining RSI and support/resistance
Summary
Maybe, when you see the transaction pictures on that real account you will not believe it. And you probably won’t believe this Olymp Trade strategy either. Therefore, turn on your demo account and experience it for 2 weeks. If everything is good, come back here and let me know the result. I wish you successful transactions. Goodbye and see you again.
Today, in this article, I will guide you to trade in Olymp Trade using Pullback candlesticks. This is a candlestick that is considered as a “magic candle” in a trend-following market. Follow the article to understand what the Pullback candle is and how Pullback trading works. You will also know the most effective strategy to trade in Olymp Trade with Pullback candlestick.
In the world of trading, a pullback means an adjustment in a trend. A pullback market means a market that is under adjustment. This adjustment can happen in an uptrend or a downtrend. After such an adjustment, the price continues with its main trend.
For example,In an uptrend, after strong surges (aka waves), down adjustments will appear before creating new bullish waves. This is the pullback.
These bearish adjustments must ensure that the price does not create a new trough lower than the old one. If it is lower, the uptrend is likely to be broken.
What is a Pullback in trading?
What is a Pullback candle?
And so, when the price adjustments are wrapped up within a Japanese candlestick, they call that a Pullback candle. Usually, after the Pullback candlestick appears, the price will again create a strong wave following the main trend. I will illustrate this candle better with the pictures below for you to understand.
Zooming in the red squares in the image above, when price creates a Japanese candle, the shape of a pullback candle will be as shown below. It is very similar to a Pin Bar candle with a long tail and its head will follow the main trend.
What is a Pullback candle? How to form a Pullback candlestick
Or as in a downtrend, if a bullish adjustment appears before a new bearish wave within a Japanese candle, we also have a pullback candle in a downtrend with the tail up and the head down.
What is a Pullback candle? How to form a Pullback candlestick
The position of Pullback candles in a trend
Usually, a pullback candle appears right after the price breaks out of the resistance/support to create a trend. The price will adjust once to confirm that it will enter a trend in the future.
For example, in the case below, right after the price breaks out of the support to go down, it will adjust one time and create a pullback candlestick in a downtrend.
An example of a Pullback candle in Olymp Trade
An effective Olymp Trade trading strategy using pullback candlesticks
You may understand what pullback candles are. Now, I will show you how to trade with this special candlestick. As mentioned above, the price after the adjustment will continue to develop strongly according to the newly created trend. This is when we can consider opening an order following the trend.
An effective Olymp Trade trading strategy using pullback candlesticks combined with support/resistance
How to open an order is as follows:
+ Open anUPorder when the price creates a pullback candlestick with the tail touching the resistance just broken.
Pullback candlestick trading with the resistance level
+ Open aDOWNorder when the price creates a pullback candlestick with the tail touching the support just broken.
Pullback candlestick trading with the support level
Capital management and trading principles
Capital management is vital to your Olymp Trade trading strategy. No matter how effective your strategy, but with poor capital management, you will not be able to gain any profit.
With this pullback strategy to trade in Olymp Trade, you can open orders with the Classic capital management method. That means keeping the same investment for each order.
For example,If you deposit $100 into Olymp Trade, you will divide it into 10 trades with $10 each.
Capital management is vital to your Olymp Trade account
Because this is a strategy that takes a lot of time to wait for entry points, the above method of capital management is perfectly reasonable for your account.
Principles of opening orders in Olymp Trade with Pullback candlesticks
There are a few principles you need to keep in mind if you don’t want to lose money with this strategy.
+ Do not open many orders when a pullback candle appears. That means when the conditions are met, you can only open one order. Every transaction in Olymp Trade involves the risk of loss. So, absolutely adhere to this principle.
+ Do not open an order against the trend of pullback candles. This means that when the price breaks out of the support and goes down creating a pullback candle, you can only open a DOWN order. When the price breaks the resistance creating an upward pullback candlestick, you can only open up orders.
+ Do not change the investment amount for each transaction using pullback candles. If you stuff orders or use the Martingale capital management method, your account will possibly evaporate after the first few trades. Please keep this in mind.
Some test orders on real accounts using the Olymp Trade strategy with Pullback candles
Here are some test orders I opened using the Olymp Trade strategy with pullback candles. In general, this strategy is safe for your account. What you need to do is to wait until the pullback candlestick appears after the price breaks out of the levels. When this happens, open an order.
1st order:The market created a downtrend when the price broke out of the support and went down. Right after the breakout, the price created a pullback candlestick with a long tail pointing up. Opened a DOWN order with an expiration time of 15 minutes. I won.
Some test orders on the real account with Pullback trading
2nd order:It was the same as the 1st order. Once again, I opened a DOWN order right after the pullback candle was completed. As a result, the price dropped sharply after that.
Some test orders on the real account with Pullback trading
Summary of Olymp Trade trading strategy with Pullback candles
This is an article to guide you to trade in Olymp Trade effectively with pullback candles made by me – Mr.Joker. Test this strategy for at least 2 weeks on a DEMO account to verify its effectiveness. In the next article, I will review this strategy with real profitable transactions on real accounts. Let’s follow it up. Goodbye and wish you a successful transaction.
During trading at IQ Option , once there are profits, the first thing we should do is to withdraw money to Skrill. After that, think about the next trading plan.
Profits are only determined when the money is transferred to your bank or Skrill account. If it is still in your IQ Option account, it is simply the deposit amount. In this article, I explain how to withdraw money from IQ Option account to Skrill wallet in detail.
How to withdraw money from your IQ Option account to Skrill with 3 simple steps
Step 1: Login to your IQ Option account
Step 2: Select Withdraw Funds
It is imperative that the amount withdrawn to your Skrill account must be greater than $2. This is the minimum withdrawal amount specified by the IQ Option platform.
To start transferring money from IQ Option to Skrill, you click on the triangle icon on the left hand side of your amount of money. Then select “Withdraw Funds”.
How to make a withdrawal request in IQ Option
Step 3: Choose Skrill and enter the amount you want to withdraw
Here, you’ll do the following steps:
Choose Skrill.
Fill in the email address that you use to register your Skrill account.
Enter the amount you want to withdraw from IQ Option.
When you have done, click on “Withdraw Funds” as shown below.
Choose Skrill and enter the amount you want to withdraw
The system has received your withdrawal request.
Your withdrawal request is confirmed
Step 4: Check your withdrawal request
Once your request has been processed, then your IQ Option account has been debited. You can go to deposit and withdrawal history to see if the transaction has been completed.
Normally, the money will be transferred to Skrill from 1 to 3 working days. In case you still don’t receive the money after 3 days, you should contact the IQ Option support to solve the problem.
Successful IQ Option withdrawal
When the transaction is completed, IQ Option will send an email to notify you.
IQ Option notification email
Once the money has been credited, Skrill will also send an email notification of the transaction.
Skrill notification email
Create good trading habits
You should create a habit of withdrawing money at the end of every Friday. When the financial market takes a rest, it’s also the time for you to withdraw money & profits to your account. It is a good habit of a trader to prepare investment plans for the next week.
Practice good habits for yourself
Note: You should withdraw money to the account you used to deposit.
For example: If you deposit UQ Option with Skrill, you should withdraw money to that same Skrill account. If you deposit with Online banking, then withdraw to your online banking account too.
