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  • Olymp Trade reviews (olymptrade.com)

    I got interested in financial markets recently, now Iím looking for the broker to start trading, I checked different options, specifically, there are many reviews about Olymp Trade. As far as I understood, this is the platform, where you can trade not only forex but also digital options. And instead of spread like forex brokers have, they have commission. So far, Iím not really good at it, and I donít know whatís better spread or commission. I would like to hear reviews of those, who has traded on this platform and know its pros and cons. Thanks!

  • #2
    Digital options are easier to start with. Generally, the strategies can be more simple. There is not that much decision making you need to do after you’ve done your analysis and entered the trade. Just wait till option expires. Easy! Forex trading requires more thoughtful approach and skills to be applied. The pro of forex is that your profits are not limited to standard payouts. If you’ve managed to enter the market in a trend’s direction, say yee-haw and let profits fill your pockets.

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    • #3
      Sounds like a fascinating idea. But I really have no clue about how markets work. I think I’d rather start with something simple.

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      • #4
        In this case, digital options can be the right choice. From what I’ve heard Olymp is one of the best brokers to offer options trading. I’m rather interested in their forex platform myself and I’d love to hear the opinion of people who have tried it already.

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        • #5
          If nobody answers your question, you’ll have to wait till I master my skills with options trading and move further to Olymp’s forex platform to give the feedback lol By the way, I’ve opened the demo account at Olymp today. It took like 10 minutes to click each button and another 10 to understand what they all mean. I even made my first 12 demo-dollars today!

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          • #6
            Originally posted by Agredritlan View Post
            If nobody answers your question, you’ll have to wait till I master my skills with options trading and move further to Olymp’s forex platform to give the feedback lol By the way, I’ve opened the demo account at Olymp today. It took like 10 minutes to click each button and another 10 to understand what they all mean. I even made my first 12 demo-dollars today!
            Olymp has got their own forex trading platform which is somehow different from Metatrader which is often used by forex traders. The main difference is the way you set stop and profit target. Normally those are price levels. At Olymp you enter how much money you stack on the trade and how much money you wanna get upon the target fill. The rest of it is pretty similar.
            For newbies I'd suggest starting with options. Not that they are overall better than forex. But they are somehow more simple to understand and they will give you the initial idea on how to analyze the markets. Once you gain some experience, you'll be able to make your own opinion on where it's better to trade: options or forex market

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            • #7
              Good to know. Actually myself I find very confusing how its all done in metatrader. I get lost in all these menus, advisors and to my regret I have to admit that the idea to enter stop and take in dollar values is very appealing to me. I do have a hard time figuring out how much I'm staking in the trade and how to adjust the lot size to my needs and expectations.

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              • #8
                Originally posted by Rhonnon View Post

                Olymp has got their own forex trading platform which is somehow different from Metatrader which is often used by forex traders. The main difference is the way you set stop and profit target. Normally those are price levels. At Olymp you enter how much money you stack on the trade and how much money you wanna get upon the target fill. The rest of it is pretty similar.
                For newbies I'd suggest starting with options. Not that they are overall better than forex. But they are somehow more simple to understand and they will give you the initial idea on how to analyze the markets. Once you gain some experience, you'll be able to make your own opinion on where it's better to trade: options or forex market
                Thanks, that was helpful. I am still mastering my options skills at demo account but I think that I came up with the approach to the market. My results are overall positive so I'm about to proceed further to live account.

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                • #9
                  Congrats! Do you have a certain strategy that you apply with profit? Or you are trading intuitively?

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                  • #10
                    No, for goodness sake, I like gambling in a casino but I go there to have a good time and for networking purposes. With Olymp I'm planning to squeeze some cash outta these markets. So no intuitive trades. As you might remember I'm not a professional trader yet, but I did spend some time learning how to interpret charts. I found out that I'm no good interpreting indicators. So I've chosen the most simple strategy to follow and I'm trying to stick to it. It's not a secret at all and I can share the method. I open 15 minutes chart and wait for horizontal movement. So called flat. Then I identify the general trend on the upper timeframe. If trend is up I enter pending order to the price at the bottom of that flat. If trend is down, I work with the pending order on the opposite side of a horizontal move. To my surprise it works!

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                    • #11
                      Olymp is my favourite now! Love at first glance with the platform. I wonder why developers are incapable to develop such user-friendly interfaces in every field of life. The other aspects are fine too. Commissions are acceptable, orders execution is precise and fast. There are all necessary charting tools and indicators available. So basically, all is taken care of apart from your ability to ana-lyse market and control emotions.

                      Originally posted by Agredritlan View Post
                      I got interested in financial markets recently, now Iím looking for the broker to start trading, I checked different options, specifically, there are many reviews about Olymp Trade. As far as I understood, this is the platform, where you can trade not only forex but also digital options. And instead of spread like forex https://static.olymptrade.com/lands/LPL47-03en/index.html?af_siteid=LPL47-03en&affiliate_id=539024&lref=&lrefch=affiliate&pixel=1&subid1=&subid2=brokers have, they have commission. So far, Iím not really good at it, and I donít know whatís better spread or commission. I would like to hear reviews of those, who has traded on this platform and know its pros and cons. Thanks!

                      Comment


                      • #12
                        Originally posted by Agredritlan View Post
                        No, for goodness sake, I like gambling in a casino but I go there to have a good time and for networking purposes. With Olymp I'm planning to squeeze some cash outta these markets. So no intuitive trades. As you might remember I'm not a professional trader yet, but I did spend some time learning how to interpret charts. I found out that I'm no good interpreting indicators. So I've chosen the most simple strategy to follow and I'm trying to stick to it. It's not a secret at all and I can share the method. I open 15 minutes chart and wait for horizontal movement. So called flat. Then I identify the general trend on the upper timeframe. If trend is up I enter pending order to the price at the bottom of that flat. If trend is down, I work with the pending order on the opposite side of a horizontal move. To my surprise it works!
                        Don't you think that this strategy could work out better at forex, not options trading? If I'm not mistaken, when range is wide enough you can get a nice potential profit on the other side of the range.

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                        • #13
                          True, it really seems that forex should be more profitable. But real life is different. I've tried both on demo account. For some reason I had worse results on forex, so when I funded my account at Olymp, I traded options only here so far and I'm not too far from being completely satisfied with the results.

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                          • #14
                            when I had to study and pass exams, I thought about how to get money. The thing is, I've thought all my life that grades are a very subjective thing, so it doesn't matter. I once got into a group of older guys, they were talking about the casino. One of the guys talked about how he was able to raise $300 on the bets and it inspired me. I found the site https://slotslovers.org/online-slots-for-real-money-california/] slotslovers.org/online-slots-for-real-money-california/[/url] where they talk about how you can choose a casino and what are the secrets in correctly winning the game

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                            • #15
                              Originally posted by Agredritlan View Post
                              True, it really seems that forex should be more profitable. But real life is different. I've tried both on demo account. For some reason I had worse results on forex, so when I funded my account at Olymp, I traded options only here so far and I'm not too far from being completely satisfied with the results.
                              I think you are getting worse results on forex not because there is no point to try or there is no logic in expecting the price to get to the other side of the range. The problem is that price sometimes falls out of the range. But before it does, there is often at least some type of a bounce there. When trading options, a small bounce is all you need. But if you have a profit target, you've got to be more realistic and keep your eye what happens next, after you've entered a trade. You might need to close position early, if your expectations on a trade do not match the real life.

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