Olymp Trade reviews (olymptrade.com)

[Kelune]

Statuses is smth like trading account types that other broekrs have got.
With the new system at Olymp Trade the more you trade, the more Expert Points you can get. Then you can convert these points into a status, that gives you more favorable trading conditions, like up to 94% payouts for fixed time trades, free signals, webinars, etc.
The easy way to get the upper status is similar to what other brokers have. Larger deposit opens the opportunity to get expert or advanced status.
There are also daily challenges that you can participate in and also get XPs.

[Nuathris]

What are the statuses and what they give?

[Rhonnon]

My suggestion would be not to pay attention to these games of thrones.
You can't stay focused on several things simultaneously for long enough. You either work on your strategy and improving the trading results or you work on this Trader's Way or whatever its called.
Focusing on making good trades will bring the positive result on both ends.

1. You will be making money with thoughtful trading.
2. You will be getting those XPs and statuses anyway cause you trade and this system works automatically.

So forget all about the challenge. Let quality trading be your only challenge.
That's my approach which I think should work good enough.

[Kelune]

Guys, remember we we having fun discussing Olymp trade tournaments here?
Guess what, these tournament are now introduced in the platform on a daily basis.
Don't know yet what to think about it. Do you think the change is for better or worse?

[Rhonnon]

That's how it should work! Try watching some psychology-related videos from Olymp's educational database. That might help a bit.
And good luck in case you decide to fund the account now!

[Agajurus]

Gotcha guys, thanks a lot.
I was about to get happy enough that my Olymp demo has recovered again to the initial size, but at the moment I'm not sure whether I should be happy about it or not
Just kidding. In fact I think you are right. From the very beginning I was very serious about demo trading and was kinda attached to the final results of such trading, cuz I promised myself I won't fund the account if I'm not making money on a demo. I think that was the reason of the increased pressure and bad results to be serious.
Results got better when I tryied being more systematic and use just a few setups to enter the trades.

[Blazaronald]

That's 100% truth. I had a similar experience, demo went perfect and it cost me the first depo.

[Rhonnon]

I meant there is a saying that newbie traders are very lucky most of the times. Most of us when tried trading on a demo were winning from the very beginning.
With demo you don't normally worry too much about the outcome of a trade and this is when you get the best results.
This experience creates an illusion that trading is very easy. You don't take into consideration that with demo you are very eager to take some really big risks. Big profits are the direct consequence of this risky approach.
This is why it's better to have a negative experience on a demo from the very beginning. This won't lead you into an illusion of trading as a very simple thing that creates money out of nowhere. When you have all the demo covered in red you get more chances to first get the proper strategy, test it on demo and then only switch to real account.

[Agajurus]

If that was a joke, I didn't quite get it, sorry.

[Rhonnon]

I think that won't be too far from the truth to call the newbie traders that trade in red from the very beginning on demo VERY lucky

[Agajurus]

For now I'm trying to use Olymp's demo. You guys sound very pasionate about trading. I don't have much experience in it, but like everybody else, want to spend less time at work and earn more ))
Hope this doesn't sound too foolish. To tell the truth my demo results don't allow me to think I am any near to the goal, LOL The statement is all covered with red, which gives me some school-time flashbacks that I don't like too much.

[Kelune]

oh, come on, one good prediction does not mean you can keep working as well in long run on your investments portfolio. This is a totally different approach and I doubt it's much easier than daytrading that we all practice with Olymp.
Yet, the idea of using forex instead of fixed-time-trading opens more opportunities for risk-managements, that's true. It's been discussed here already.

[Agredritlan]

Your april idea with gold wasn't bad at all. I constantly come back to the idea of forex trading myself. Not that I plan to buy-n-hold, like you've planned with gold, but holding some positions overnight does offer some new opportunities and I'm trying to find some time to try the approach at least in a demo mode to start with.

[Agajurus]

Yeah, I think I'll just leave the idea with long-term investments for now. As you've mentioned already, Olymp is more of a day-trading broker. I'd rather invest with some broker that specializes in those kinds of things.

[Kelune]

I won’t be so sure about the safe haven. The times have changed. Since dollar is no longer tied to gold reserve, the precious metal can no longer be considered a good investment at all times. I’d suggest Zoom, but its a bit late now ) Seriously, why don’t you look at some stocks instead? Or consider daytrading. Olymp is good for daytrading, and if you are disciplined enough, this can be a stable source of the income that would not depend on any OPEC meetings, Trump’s tweets or that kind of stuff.