How To Trade Blog

Tuesday, March 9, 2021

The Hard-Earned Trading Experience In Olymp Trade

How can you survive and make money in Olymp Trade? What is the biggest difference between gain and loss in Olymp Trade? This article brings you the hard-earned experience when trading in Olymp Trade of pro traders on the platform. These are the things that help them survive and make a steady profit. Let’s see what they are.

Trading experience in Olymp Trade to always be profitable in all situations

Although trading is always risky, the good news is that you can minimize them. This is the general principle for sustainable profit in Olymp Trade. We will take a simple example with a currency pair like EUR/USD with a payout of 82%. Out of 100 trades, even if you lose 40 of them, you will still make a profit. Here are the experiences you need to grasp to do this well.

Absolutely adhere to a trading plan that has been set out

It’s seemingly simple but this is what very few traders can do. On the contrary, the traders who make money accomplish this very well. Adhering to a plan with outlined goals means that you will have to force yourself to follow a path that benefits you. Trading is a job where self-discipline is what determines whether you gain or lose with the market.

Absolutely adhere to a plan that has been set out when trading in Olymp Trade

The larger your trading account, the more chances you have of winning

Let’s take a simple example as follows: If you lose $10 when you have $1,000 in your account, you will not be too sad and will continue to trade as planned. But if you only have $100 in your account, this can be frustrating and can lead you to mistakes. Finally, it is to lose all the money in your account.

That’s not to mention the fact that in the first case, you have 100 chances to fix the situation. But in the second case, you only have 10 chances. The difference is absolute, isn’t it?

The larger your trading account, the more chances you have of winning

Adhere to the capital management rules and trading principles

Well, it’s about the rule and principle again, too many rules, isn’t it? But it’s not redundant for you. There are some principles of thorough capital management that you must be familiar with as follows:

+ The investment amount for one transaction cannot exceed 5% of the account.

+ Do not open many orders at a time.

When you reach your daily loss limit, you must stop.

+ Follow the capital management methods outlined in the original plan: Classic, Martingale, Snowball, etc.

Adhere to the capital management rules and principles when trading in Olymp Trade

Determine the maximum loss level in a trading session – Professional stop-loss experience in Olymp Trade

This experience is part of your capital management rule. In trading, traders often call it the “pain tolerance” of each trader. The maximum loss level is the maximum level of loss without affecting your psychology and emotions. When you reach this limit, you have to stop. Because then, emotion is the decision-making thing, not the reason anymore. Each person has a different pain tolerance. Try to figure out what your tolerance is.

Determine the maximum loss level in a session

Make it a habit to analyze everything before and after trading

Just do this for both profit and loss. It is important to understand how to re-succeed as well as to avoid making the same mistake. This experience helps you improve every day in Olymp Trade. Many people turn off their computer after a session and refuse to find out why the results are like that. In trading, you always have to know how to analyze and answer everything to understand your shortcomings.

Learn to control your own emotions

When you have a lot of emotions, whether positive or negative, they all obstruct your trading. Joy, sorrow, frustration, and fatigue all lead to mistakes. If they appear during the transaction, then stop. If they appear before trading, do not start. In Olymp Trade, in my experience, you can only trade well when you have the most comfortable and confident mood.

And never stop learning and developing yourself

The market changes every day so you need to study it constantly. Never satisfy yourself with your current self in trading. Because every passing day, there are many things that can help you trade better. It may be a new indicator, a new candlestick pattern, or a new signal.

A lot of things can improve your money-making skills in Olymp Trade. And if you own a VIP account in Olymp Trade, do not hesitate to contact your own manager provided by the platform. They will give you the most dedicated and specific advice for you to maximize your profits in Olymp Trade.

Never stop learning and developing yourself

Summary of trading experience in Olymp Trade

The truth is that there are still people who are making money steadily every day in Olymp Trade. And I am sure that they all have to apply some of the above rules. Practice more to be perfect and responsive to entry points with a high win rate. When you have a strong will, everything will support you. Goodbye and see you again in the next articles.

The post The Hard-Earned Trading Experience In Olymp Trade appeared first on How To Trade Blog.

source https://howtotradeblog.com/olymp-trade-trading-experience/

How To Trade Forex Like A Sniper

Before you learn how to trade Forex in this article, I would like to share a little about myself. I’m someone who likes the dusty style such as Harley Davidson motors, etc. It’s quite the opposite between my career and my blog interface.

I like to collect soldier’s stuff, mostly American soldiers when participating in the Vietnam War. Souvenirs that retain perfect freshness are hard to come by. And they’re also quite expensive. For example, a new Field M65 shirt, or an aluminum buckle dated back in 1968 worths for more than 10 million or almost nearly 20 million. However, it is very hard to find one. They are very durable as well as looking healthy and manly when wearing, and importantly rare.

In war action films, soldiers always make me feel excited to watch these films over again many times. Regarding the topic of “sniper”, there are a lot of good movies. You can visit this link to see the 10 best movies about snipers.

In today’s article, I want to talk about a sniper on the battlefield and recommend trading in the same way that snipers fight. Sounds quite interesting, right?

How to trade like a sniper in Forex

A sniper is always a real fear of his (or her) enemy. They, the special soldiers, have tremendous patience and control over their weapons. They can control the brain and body for hours, even days in a state of intense stress and concentration. And you may have noticed by now that those qualities are the perfect match for your forex market trading.

The foreign exchange market that you and I are participating in, is like a giant battlefield. You need a good trading method (weapon). You need to master it, understand it, control it, and maintain maximum discipline when practicing it. Today’s trading is extremely stressful and not much different from war, there are two things that you have to control: your mind and your body.

Traders should patiently choose the time of entry, discipline, and following that order to the end. Just like a sniper, these traders will be successful with forex trading in the long run. On the contrary, there are traders who prefer to trade like a crazy machine gunman (rushing at every target he sees). They trade too much and see opportunities wherever they are. These traders will quickly lose money (ammunition) and not fulfill the target set on the market.

Let’s find out how you can trade like a sniper instead of shooting everywhere and every time like a machine gun and run out of bullets.

Understand and accept “less is better” in Forex trading

One of the things we learn from this soldier is carefully choosing an important goal. Less will always be better. The same is true for the forex market. However, the mentality often found in newcomers and inexperienced people in the market is “more is better”.

They feel more secure with many technical indicators, although they are not really knowledgeable about them. They feel the more orders, the better the ability to make money faster and more, or the more robots, the better it will be, etc. These are not how you should trade in Forex.

Because what is the result or the consequence of that thought? They are in too much of trading, much like a machine gunman rushing with bullets. They scatter bullets (money) at every glimpse of the target and at any time, anywhere. Then, they quickly fell into a state of empty ammo (money).

Understand and accept "less is better" in Forex trading — Understand and accept “less is better” in Forex trading

So the first thing you need to do if you want to learn from snipers and become more successful with Forex is to keep in mind that less is better. Think of the camouflaged sniper, lying down for hours or even days waiting for his target to appear or enter a spot. You also need to be patient and do the same with each of your trading decisions. Daily charts will be your best battleground, keep an eye on it.

Choose larger time frames

As I mentioned in the previous line, the daily chart is the best place for you to “prey”. Because daily charts show you which goals (opportunities) have the highest value. It is the best compared to any other time frame. A weekly chart is also very good and highly reliable, but it gives us too few opportunities and choices when a month has only 4 weeks.

The higher the time frame is, the greater the reliability becomes, and the less the availability offers. The bigger the time frame you trade, the greater your chances of success with the market will be.

How to trade Forex like a sniper - Choose larger time frames — How to trade Forex like a sniper – Choose larger time frames

A sniper can change the situation of a battlefield with an accurate shot that kills important enemies. A winning order (carefully selected and patiently waited with the discipline to achieve your profit goals) can significantly increase your balance. It helps you earn money to do what you like.

Trading like a machine gunman will make you quickly run out of bullets (money), much faster than you think. In my opinion, the time frames lower than the 1H almost do not offer anything. Stay away from them and observe at higher time frames. It is best to arrange the daily chart in the first position followed by H4 and W1 charts, and finally the H1 chart.

Patience, patience, and patience

What every sniper is sure to have is patience. You cannot become a soldier without “incredible” patience. And you cannot become a successful trader in the long run without this virtue. Newcomers to the market have little or no patience, and thus most lose money.

Impatience in trading is something like human nature. This also leads us to one of the things that make your account dead the most – greed. Impatient, greedy, that is, you can not control your mind and body. Your head is thinking of money-money, and your hands are just waiting to click on the placing order button. If you let this happen, you can’t be a sniper, nor a successful trader.

Practice patience and live simply to reduce greed. If you can spare a few minutes and a few times a day, meditation is also extremely good for health and better control of yourself. I love Buddhism and the Buddha Dharma philosophy.

Master your trading method/strategy

Snipers take years to control the gun, calculate the wind, humidity, distance, etc. to produce a perfect shot. And when all the necessary elements have converged, they would not hesitate for a second. Similarly, as a trader, you need to have a good strategy/method. You need to understand it, master it, and know exactly what you are looking for on the chart.

Mastering a method begins with inquiries, learning, education, and continuous improvement. You have to spend time, money, and concentration, etc., to learn it. No one can learn for you.

Be realistic with this: it will take much time, for sure. Becoming a master in any field takes a lot of time. Start learning and cultivating wisely today.

Develop your mind like a sniper in forex trading

It is confidence and discipline. The more you try to trade like a sniper, not a machine gunman, the more confidence and discipline you have. You will definitely be rewarded for your patience. And when the rewards begin to come, you will want to maintain discipline and other good virtues more and more. And soon, they will turn into your habit.

Most traders do not understand and are not clearly aware of the power of patience and discipline. They often tend to prefer being a machine gunman because the “feeling” of it is spectacular. They think they could control it all. They don’t want to be like a quiet sniper soldier nobody knew. The problem here is you can’t control/manipulate the market. The only thing you can control is yourself.

Develop your mind like a sniper in forex trading

Thank you for taking the time to read up to here.

I wish you soon join the team of snipers and successful traders with forex trading.

Goodbye and see you again in the next article.

The post How To Trade Forex Like A Sniper appeared first on How To Trade Blog.

source https://howtotradeblog.com/how-to-trade-forex-like-a-sniper/

Sunday, March 7, 2021

What Is The Three White Soldiers Candlestick Pattern In Forex?

The Three White Soldiers candlestick pattern is a good signal of the price at the beginning of a strong uptrend in Forex. Traders always pay attention to this candlestick pattern every time it appears on the price chart.

In today’s article, I will give you a full overview of the Three White Soldiers candlestick pattern. How to apply it in Forex trading so that it is most effective is also available.

What is the Three White Soldiers candlestick pattern?

In trading, Three White Soldiers is the name for a Japanese candlestick pattern that reverses from falling to rising in price. This candlestick pattern often appears at the troughs of the market. It is a sharp bounce-back of prices after a long downtrend. This pattern is a very good signal for strong bullish momentum.

Structure

The pattern consists of 3 adjacent green candles satisfying 2 conditions as follows:

+ The opening and closing prices of the following candles must be higher than the previous ones.

+ The closing price of each candle must be close to the highest price (which means that the shadow of each candle is very small).

Different types

On a Japanese candlestick chart, you can see different types of Three White Soldier candlestick patterns. In terms of meaning, they all bring bullish signals in the future.

In terms of meaning, these patterns all bring bullish signals in the future

Position

As mentioned at the beginning, the Three White Soldiers candlestick pattern usually appears at the intersection between a downtrend and an uptrend. This is a good signal for you to open a BUY order and do bottom fishing.

This is a good signal for you to open a BUY order

Or sometimes, this special signal may also appear when the price has already been in an uptrend. This represents the continuation of the uptrend.

Sometimes it represents the continuation of the uptrend

How to trade Forex effectively with the Three White Soldiers candlestick pattern

As a warning signal of a strong increase in the market price, the Three White Soldiers pattern is of great interest when the market enters a bull cycle. Here, I will show you how to open a Forex order with this reversal candlestick pattern.

When then appears, open a BUY order as follows:

+ Entry Point: As soon as the price completes the pattern.

+ Stop-Loss: At the opening price of the first candle in the pattern.

+ Take-Profit: when the price touches old resistance levels that have been formed in the past.

How to trade Forex effectively with a Three White Soldiers candlestick pattern

Leave any questions or concerns you have about the Three White Soldiers candlestick pattern. This is a trading signal you need to master to be able to trade better. I wish you successful transactions.

The post What Is The Three White Soldiers Candlestick Pattern In Forex? appeared first on How To Trade Blog.

source https://howtotradeblog.com/three-white-soldiers-candlestick-pattern-forex/

Saturday, March 6, 2021

How To Use The RSI Indicator Trading Strategies In Olymp Trade

In the previous post, I have shown you how to effectively trade Fixed Time using signals of the RSI divergence. In today’s article, I will bring you one last piece of the puzzle to make this strategy the most effective. It is the 50 median line of the RSI indicator and how to use it in Olymp Trade.

50 line – the precise trend confirmation signal of RSI

For the majority of traders, when using RSI, they are only interested in the 30 (oversold) and 70 (overbought) lines only. Few people know that the median 50 of the RSI is of great significance in determining the price trend of the market. Take a look at the image below so you can see this.

As you can see: When the price is in a downtrend, the RSI fluctuates around 30-50 lines. Conversely, when the price increases, the RSI is within the 50-70 lines. That is to say, the 50 line is the RSI dividing line, warning which trend the market is in. This is shown clearly when the RSI crosses the 50 line, the price has a trend reversal.

And this is the perfect piece for you to get the most accurate transactions with RSI.

How to use RSI indicator trading strategies in Olymp Trade

If you are not sure how to trade Olymp Trade using the divergence of RSI indicator, you can review it here:

+ Trade In Olymp Trade Effectively With The RSI Divergence.

Combined with the 50 line signal, we will have a complete trading strategy as follows.

Open an UP order when the following signals appear in turn

The RSI bullish divergence appears.
Prices break out of the resistance and go up.
The RSI indicator crosses the 50 line from below.

The 1st trading strategy with RSI indicator in Olymp Trade

Open a DOWN order when the following signals appear in turn

The RSI bearish divergence appears.
Prices fall out of the support and go down.
The RSI indicator crosses the 50 line from above.

The 2nd trading strategy with RSI indicator in Olymp Trade

*Notes: Open an order as soon as the confirmation candle completes.

Some typical examples

In this section, I will talk about 2 examples that demonstrate why the 50 line is so special in this trading strategy. Let’s see the examples one by one.

Example 1: The price has broken out of the resistance but RSI has not completely crossed the 50 line. This is an incorrect signal for you to open an UP order.

Example 2: RSI has crossed the 50 line but the price has not yet surpassed the resistance. This is also an incorrect signal for you to open orders.

In the two examples above, it can be seen that the 50 line helps to early identify an incorrect signal to avoid placing wrong orders. Very effective, isn’t it?

Summary

In Olymp Trade, the RSI indicator is one of the best tools that you can apply in trading. The signals it gives always have certain meanings to help you recognize something. The important thing is to know how to combine them, giving an objective signal about the market. From there, your judgment will be more confident than ever. The article should end here. Goodbye and see you again.

The post How To Use The RSI Indicator Trading Strategies In Olymp Trade appeared first on How To Trade Blog.

source https://howtotradeblog.com/rsi-indicator-trading-strategies-olymp-trade/

Thursday, March 4, 2021

How To Use Three Black Crows Candlestick Pattern Effectively In Forex

It is one of the strong reversal signals for market top fishing transactions. Although the Three Black Crows candlestick pattern rarely appears, it offers an almost absolute price reversal rate in Forex. Today’s posts of How to trade will introduce you to this special candlestick pattern and how to use it in Forex trading in an optimal way.

What is a Three Black Crows candlestick pattern?

Three Black Crows (TBC) candlestick pattern is a warning signal about the upcoming downtrend in Forex. It usually appears after an uptrend and consists of three red bearish candles in a row.

Characteristics of the pattern

The pattern consists of 3 candlesticks.

+ First candlestick: is a red bearish candle.

+ Second candlestick: is also a red bearish candlestick. It has an opening price laid within the first candlestick, with a short or without a shadow.

+ Third candlestick: is a red candle again. It has an opening price laid within the second candlestick. Its closing price is close to the lowest price of the 2nd candlestick.

Meaning

The price always creates the Three Black Crows pattern at peaks in Forex. It alerts traders that a downtrend is about to take place.

Or sometimes the market is moving sideways. Suddenly, the pattern appears, indicating that the price will collapse, forming a downtrend.

When the pattern appears, it indicates that the price will collapse and form a downtrend.

Variant candlestick patterns

In addition to the standard TBC pattern, there are also variants with different shapes on the price chart in Forex. In terms of meaning, they all bring bearish signals to investors.

In terms of meaning, they all bring bearish signals — Although there are many variant patterns, they all bring bearish signals

How to trade Forex effectively with the Three Black Crows pattern

Here, I will show you how to place a basic Forex order using the Three Black Crows candlestick pattern. Please note that this is a bullish to bearish reversal pattern. Therefore, you can only open SELL orders with this candlestick pattern. Open a SELL order as follows:

+ Entry Point: As soon as the price completes the pattern.

+ Stop-Loss: At the highest price level before the price turns down and creates the pattern.

+ Take-Profit: When the price touches old support levels that have been formed in the past.

How to trade Forex effectively with the Three Black Crows pattern

The post How To Use Three Black Crows Candlestick Pattern Effectively In Forex appeared first on How To Trade Blog.

source https://howtotradeblog.com/three-black-crows-pattern-forex/

Which Forex Brokerage Fees Do Traders Have To Pay When Trading?

This article will detail the types of Forex trading fees that are incurred when you enter this market. Usually, the cost of trading Forex is quite small. However, in the long run, this is the factor that pretty much erodes your profits. Stay tuned to see what types of fees are incurred in Forex.

What is the trading fees in Forex?

Trading fees are the total costs a trader incurs to run his Forex trading career. There are some optional costs like fees for news service, for technical analysis services, or for faster connection. In addition, a trader must also pay some required costs.

For each trade you make, you will be charged a certain amount for the cost or commission by your broker. Depending on each broker, this amount will be different. But overall, the commission fees are relatively low. This is usually the only transaction cost you may incur.

What are the mandatory costs that traders must bear?

The most common costs involved in trading are spread and commission. These costs are incurred by any transaction made by the trader, profitable or not. Depending on each Forex broker, the method of calculating these fees is different. It could be added to the spread or commission fee.

Spread

Spread is the difference between the bid and ask prices of any asset or currency pair. The bid price is the highest price the broker will pay to buy your asset. And the ask price is the lowest price the broker will pay to sell the asset to you.

Spread is the difference between these two prices and what the broker charges you. This is how they make money and maintain their business!

In order for a trade to make a profit or avoid a loss in trading, the price volatility should be large enough to compensate for the spread.

Spread is one of the ways that brokers charge fees to traders in Forex

It should also be noted that the spread you pay may depend on market volatility and the currency pair being traded. These fluctuating spreads usually occur mainly in high-volatility markets.

For example, if the market is quiet, i.e there is not a lot of market activity and the volatility is low, the broker may charge the spread for only +2 pips. But if volatility increases or liquidity decreases, the broker will add additional risks to the spread.

Commission

Some Forex brokers also charge commission fees on processing and executing transactions. In these cases, the broker can only charge the spread very little or no spread. Because they make their money primarily from the Commission.

Commission or intermediary fees can be a fixed fee regardless of the volume of the transaction. Or it could also be a flexible fee. This means that the larger the transaction volume, the higher the commission.

Some brokers also charge commission fees on processing and executing transactions from traders

The commission fee is similar to the spread in that it is charged to the trader for each trade placed. Therefore, the transaction must then be profitable to cover the commission paid to the broker.

+ Fixed commission fee: Broker will charge a fixed amount regardless of the trading size and volume placed. For example, the broker can charge $1 for each transaction executed.

+ Flexible commission fee: This is the most common way to charge a commission. For example, the broker may charge x $ for every million dollars of the trading volume. In other words, the larger the transaction volume, the higher the commission fee.

Other additional fees that Forex traders may incur

In addition to the commission and spread fees, the broker still charges a number of other hidden fees such as inactivity fees. There are also minimum monthly or quarterly rates, margin costs, and fees associated with calling the broker on the phone.

You should consider your trading habits. From there, you can find out the most cost-effective plan when trading forex. If you trade large volumes, you should pay a flat fee to reduce costs. Meanwhile, traders who do not often trade or trade relatively low volume tend to prefer the flexible fee.

Leverage fees

Leverage is a tool that traders often use to increase their trading profits. One reason why the Forex market is so popular with investors is that they have easy access to leverage. However, when calculating spreads and commission fees, traders must be careful about using leverage. Because this can increase transaction costs to an uncontrollable level.

Your trading costs will increase as you use large leverage in Forex

Swap fee

When a trade is held overnight, you will be charged a different cost for the position. This cost is called the “swap”. Unlike other fees regulated by brokers, swaps will be determined by the interbank system.

These transaction costs will increase along with leverage. That is, the trader trades with the higher leverage will bear more costs.

For example, if you buy the USD/JPY pair overnight, the swap fee will depend on the interest rate difference between Japan and the US.

In short

The fees may not affect your profit too much on each transaction. However, knowing the fees will help you find a more economical and optimal trading style.

The post Which Forex Brokerage Fees Do Traders Have To Pay When Trading? appeared first on How To Trade Blog.

source https://howtotradeblog.com/forex-brokerage-fees/

Tuesday, March 2, 2021

Trade In Olymp Trade Simply And Effectively With 5-minute Candlestick Shadow

In trading and analysis, the Japanese candlestick is the most commonly used. Japanese candles are structured and feature a lot of market information. In which, the wick or shadow of the candlestick is dissected a lot when traders analyze the action and direction of price movement.

In today’s article, I will show you how to trade Fixed Time in Olymp Trade with this candlestick shadow. This is a simple and easy trading strategy with a high win rate. Let’s see what we can do with the shadow of Japanese candles in Olymp Trade.

Candlestick shadow and its meaning in technical analysis

On the Japanese candlestick price chart, candles are divided into 2 types: with shadows and without shadows. In which, the candlestick with shadows at 2 ends is considered a type of candle in which the price has a complicated and difficult direction to grasp. Also, a candle with a long shadow represents a strong price rejection in the direction that the shadow hits. Capturing these details will help you to be able to analyze the price action more accurately and objectively.

Usually, a candle with a shadow makes sense (offers good trading signals) when it falls into the following two cases:

When the price hits resistance/support zones if the price goes sideways.
When the price breaks a level, creates a trend, and retests this level. In Forex, this is considered the act of filling the price gap of the market.

In both of the above scenarios, there is a strong price rejection in zones controlled by the sides of the market. And this is the basis for you to apply when trading Fixed Time in Olymp Trade.

Trade Fixed Time simply and effectively with the candlestick shadow in Olymp Trade

The first is the basic setup. A 5-minute Japanese candlestick chart. Open orders evenly with the amount of 1% capital. In the notes, I will explain why it should be 1%. The expiration time should be equal to the candle time period of the current candle which the price is forming.

Do you understand how to trade? That is, we will wait when the price touches meaningful price zones (in both cases) and open an order. With the above time-mark setting, when the candlestick shadow retraces, the price will go right with the opened order.

I will categorize the trading method above into two strategies.

Strategy 1: Trade when the price is sideways

When the price is going sideways, draw 1 resistance and 1 support according to the shadows of the past candles. These are zones where there is a very strong price reversal (because of that, shadows will appear). Then, focus on the current candlestick which the price is creating.

+ If the price rises sharply and hits the resistance level, open a DOWN order.

+ On the contrary, when the price falls and hits the support level, open an UP order.

Remember that you have set the basic settings I mentioned above before opening orders.

After opening the order, the price will react to these resistance/support zones. And in many cases, the price will be pushed back to create the shadow of this candle.

Strategy 2: Trade when the price breaks out of levels and creates trends

This trading strategy is used a lot by Forex traders. For them, in this situation, when the price returns to match the candlestick shadow, it is a phenomenon of sweeping through stop-loss after a price breakout. Therefore, traders will wait for the price to return to fill the candle before opening an order. And when you trade Fixed Time, the trading strategy is the same.

After the price breaks out of a level, there are signs of a new trend. Focus on the candle after the breakout.

+ Open an UP order when the price returns to touch the previous upward candlestick shadow that is closest to the breakout point.

Trade UP when prices touch the upward candlestick shadow that is closest to the breakout point

+ Open a DOWN order when the price rebounds to touch the previous downward candlestick shadow that is closest to the breakout point.

Trade Down when prices touch the downward candlestick shadow that is closest to the breakout point

Of course, make sure you have set the basic settings that I mentioned above.

You think this trading strategy is too risky, don’t you?

Do you think so? At first, I also thought that this trading strategy was too dangerous and hardly offered a good win rate. However, when I tested it on the Demo account, the results showed very positively. I will point out a few factors that make this trading strategy safer and more effective than you think.

+ On the Japanese candlestick chart, there are more candles with shadows than those without shadows.

+ In a trading session, there are many opportunities for you to open orders with this trading strategy. Just invest with the original capital management plan, it will be very difficult for you to burn out the account.

+ For the strategy using the breakout and trend creation, the win rate is very high because this is a common price retest behavior.

In addition, this trading strategy has some advantages compared to other strategies such as easy to understand and implement. You don’t have to spend too much time opening orders. And if there are candles with good shadows within a day, you will soon reach your intraday trading target.

Results of opened orders

Now, let’s take a look at the results of the orders I opened as mentioned above.

1st order: The price hit the support and then turned up.

2nd transaction: This was an absolute winning order when the price touched the candlestick shadow and immediately turned around.

3rd one: The results were very satisfactory.

Summary

I will have an article about testing this trading strategy in Olymp Trade on a Real account. Let’s follow it up. For now, turn on the Olymp Trade Demo account and experience this strategy directly. Leave any questions if you need answers. Goodbye and see you again.

The post Trade In Olymp Trade Simply And Effectively With 5-minute Candlestick Shadow appeared first on How To Trade Blog.

source https://howtotradeblog.com/trade-in-olymp-trade-5-minute-candlestick-shadow/