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Olymp Trade's trading terms
Sagamand863
#21 Posted : Monday, September 30, 2019 2:10:07 PM
Rank: New-farer


Joined: 5/11/2019
Posts: 27
Completely agree with you, 2Czar. The only thing you forgot to mention is that there is something else Doombringer is missing. This is the commission that broker takes, which is also to be taken into consideration.
By the way, when you trade forex, you don’t have to limit your wins to the size of potential losses. This is a normal practice to take profit when it reaches the size of 2-3 potential stops or even more than that.
Doombringer
#22 Posted : Monday, September 30, 2019 4:05:43 PM
Rank: New-farer


Joined: 2/19/2019
Posts: 29
Location: France
Thank you for all the advice! I’ve started practicing on Olymp demo account and its not looking that good so far :( Often I get profit, but most of the times give it back immediately doing another silly trade or even worse that that - several silly trades in a raw. However, the platform is great, the thing is I need more practicing...
Doombringer
#23 Posted : Friday, October 25, 2019 2:27:22 AM
Rank: New-farer


Joined: 2/19/2019
Posts: 29
Location: France
Guys, hello once again. You might remember that I’ve registered an account with Olymp few weeks ago. I first tried to trade options and was not quite satisfied with the results. I was fighting the market but even with demo-trading I got near zero results. Then I tried forex and I was very successful there applying the rule someone mentioned above: having 2:1 reward:risk ratio at least. So here is my other question. How do I know that I’m ready to trade with ready money? Is 2 weeks positive demo results - a sound argument to proceed to the new stage?
2Czar
#24 Posted : Friday, October 25, 2019 8:44:46 PM
Rank: New-farer


Joined: 12/28/2018
Posts: 70
Location: Helsingborg, Sweden
Depends on how confident you are in the trading system that you use. If you are not sure that you do have a trading system, then it's probably too early to start trading with real money. On the other hand staying on demo account for too long can ruin your intention to grow as a trader. Getting monetary reward is an important motivation that trader must get.
Metaur
#25 Posted : Saturday, October 26, 2019 12:30:30 AM
Rank: New-farer


Joined: 2/12/2019
Posts: 52
I’ve noticed that you had some difficulties with self-control and getting too emotional and risky even on demo account. You have to keep in mind that this emotional state is much more difficult to control when you risk and earn real money on the market. Tilt is a common disease among traders. So watch out!
Sagamand863
#26 Posted : Sunday, October 27, 2019 11:25:55 PM
Rank: New-farer


Joined: 5/11/2019
Posts: 27
Doombringer wrote:
Guys, hello once again. You might remember that I’ve registered an account with Olymp few weeks ago. I first tried to trade options and was not quite satisfied with the results. I was fighting the market but even with demo-trading I got near zero results. Then I tried forex and I was very successful there applying the rule someone mentioned above: having 2:1 reward:risk ratio at least. So here is my other question. How do I know that I’m ready to trade with ready money? Is 2 weeks positive demo results - a sound argument to proceed to the new stage?

Glad that the advice to pay attention Olymp forex platform was useful! I completely agree with previous posts on the readiness to trade with real money. I recently read a book on neurophysiology. It is said there that modern homosapien tends to view money as the direct source of food and shelter. The risk to lose money or unexpected wins block neocortex and trader starts acting like a primitive creature: in case of danger fights back, runs or pretends to be dead. Some traders start making numerous silly trades (which seems to be your case), others remove stop losses and wait hoping that the price will come to their entry point again. Some quit trading. This seems to be possible to train your mind to act wise, but you will significantly increase your chances to succeed if you start with insignificant for your financial status amounts.
Doombringer
#27 Posted : Wednesday, October 30, 2019 1:48:24 AM
Rank: New-farer


Joined: 2/19/2019
Posts: 29
Location: France
Thanks everyone for your opinions! I took all the advice into consideration and… funded my Olymp account with $150. I’ll simply try to repeat all I did with demo account but risking little money in each trade. Thanks god its easy at Olymp, because you can enter stop loss in $$. Fingers crossed!
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