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Olymp Trade reviews (olymptrade.com)

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  • #16
    This is absolutely correct! With forex trading you can't afford to relax after you've entered the market, cause the trade is not only about entry, but the exit as well.

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    • #17
      I lost a lot of money trading binary options, and have been able to have my money recovered by a recover professional. You can mail me to share my experience trading, and my recovery angelwilk14 at gmail dot com

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      • #18
        I know what you mean. But I don't feel capable of making sound decisions when I'm in the market. This is why I prefer options for now. I guess this is possible to trade forex as well with making a decision about both entry and the exit at the same time, so that you can simply go away from the screen and come back when all is finished. I've got some ideas how to do this for forex exits as well. But the system definitely gets lot more complicated in this case.

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        • #19
          Hello everyone!
          I've just registered with Olymp and even funded the account with $30 just in case, because it gives the 100% bonus.
          Anyway. I learned about Olymp from the ad. Advertisement said Olymp runs a tournament at the moment. It's a bit late now to start competing for top monetary awards. Has anyone tried doing these daily tasks. Is it worth trying?

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          • #20
            I wouldn't recommend being over excited about this tournament. Tasks are not that easy to complete and sometimes completing these tasks is a good enough reward by itself. I've shaken the house with laughter when I saw the "Complete 1000 successful Options trades" task. Wouldn't that be nice to complete this one, huh?

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            • #21
              Ahaha, true. Anyway, I tried and you know what, you are right, some of the tasks are just insane. But this is not that difficult to get through first levels. I really liked the #9 award. Trailing stop loss. This is actually something that I regretted Olymp's platform does not have. It turned out they do and this brings the platform and it's tools to the new level.

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              • #22
                Whaaat? Olymp has got trailing stops? When people asked me about Olymp and I said they've got nice but very simple platform, their main argument to keep trading with other brokerages was that they have MetaTrader and MT supports all kinds of order types. It's only left now to add stop and profit by price, not by firm cash result. Hope Olymp's referral program is good enough, cause I'm gonna spread the news now.

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                • #23
                  LOL, they have it already! So spread this one too. You've got to have the order filled though to modify stop and target. The easiest method is to simply drag and drop the line indicating the stop and target price. But if you need a certain level of precision you can also go to right-side menu and select "quote" in the drop down menu. Here:
                  Take Profit Adjustment (1).png

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                  • #24
                    I think trailing stop can really become a nice solution to my troubles with forex market. I mean the problem with trade management, when I kind don’t know where to exit. Unfortunately, I can’t find this feature in settings. Maybe it's yet a privilege of VIP customers.

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                    • #25
                      I dunno, cuz I’ve got it as a prize in a tournament. I’m not a VIP, but its still available for me. The essence here is that whenever price moves in direction of your profit target, the stop moves along with the price. So it can help minimize losses or save some part of profits in case price reverses before reaching the profit target. I think you can do the same thing manually. The other question is whether it really is profitable to trail your stop loss for your trading system.

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                      • #26
                        Good point! Some strategies assume you’ve entered the market at a strong support and resistance. The trick is that some assets really like coming back to test such levels twice or even three times before they finally reverse at such level. In this case trailing stop or moving stop to break-even after the very first bounce can hurt your profitability.
                        As opposite, some systems assume you enter the market when the price starts the rapid move. It might happen in the middle of nowhere, so in order to save your profits, trailing stop can be a great solution. I think strategies that use times of major news releases need the feature the most.

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                        • #27
                          Hmm, I think my strategy is close to the first one you’ve described. As long as I use options, I only need to fix a small achievement once the price does the first bounce. And I;’m ok with this strategy so far. On the other hand as people said here, forex trading can be more profitable if you know where to exit (i.e on the other side of the price range). This is why I got so interested trailing stop. Even though I know more or less where the profit target should be, I doubt whether there are any means to minimize losses if price decides its not going to go towards my take profit goal. Would love to test the feature myself. I hope Olymp Trade is just testing its compatibility with the platform now and will soon announce trailing stop is available for all customers. I’m a bit far from VIP account at the moment

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                          • #28
                            VIP at Olymp is good not because of trailing stop, trust me! 92% payouts are much better. I’m not sure about how helpful the personal account managers can be, but 92% is useful for sure

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                            • #29
                              Yes, indeed! But do you know, recently I’ve seen the add where another options broker was offering 95% payouts. So I feel little miserable now with my 82% max.

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                              • #30
                                I’ve been trying to find better rates thousand times. What happens normally, they offer you up to 99% payouts and then when you visit the webpage, it turns out that they only offer those once a year, when the moon is full and the first ray of the moonlight reaches your browser search bar. And sure enough the offer works for 1 person only and the lottery will decide who’s gonna be the lucky one Or it’s valid for accounts starting from 20K, which is not much more realistic for ordinary people in my opinion.

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