Learn how to read Olymp Trade signals and use this knowledge to your advantage.
Olymp Trade offers a wide variety of trading signals for different assets. Learn how to interpret these hints to make your trading more efficient.
Any ambitious beginner loves the idea of trading signals. It seems super convenient to get an alert every time a profit-making opportunity arises. At the same time, it looks too good to be true. So, many skeptical newbies keep asking: “Are trading signals worth using?” or “If trading signals work, why do their developers make money selling, and not using them for their own gain?”
This how-to guide offers a brief description of the Olymp Trade live signals. Also, it answers the most common questions about this wonderful (but not magical) instrument.
Let’s start with the basics.
What Are Trading Signals?
In a nutshell, trading signals (or trade signals) are calls for action. When the system detects an opportunity to buy or sell a certain asset, it sends you an alert. This alert is generated after technical analysis made by a machine or a human. It may take into account different indicators, the current situation in the market, and other important factors.
Does this thing really work? As always, the efficiency of your trading signals depends on their quality. Which depends on the knowledge, experience, and reliability of the service provider.
Why You Need Trading Signals
High-quality trade signals are an excellent option for people who:
- lack technical analysis skills and experience;
- have little time for in-depth market analysis (or are unwilling to conduct it);
- want to compare their own conclusions against experts’ recommendations for making a smarter decision.
In short, if you have a serious commitment to trading and plan to grow your wealth step by step, trade signals might come very helpful. On the contrary, those looking for a short path to quick riches are likely to be disappointed.
No signal can help a trader outsmart the market 100% of the time. If a provider says otherwise, it’s a false promise.
How to Find Trading Signals on the Olymp Trade Platform
Olymp Trade provides its clients with dozens of trading signals located in a special section. Here’s how to find them.
On the platform, click on the Help icon in the left sidebar. Then, click on the Trading signals tab to open a list of signals you can choose from. Before the list appears, you will see a notification. It’s worth reading, too.
Each signal contains the instrument’s name and the icon of the suggested trading mode. It can be Fixed Time Trade (FTT) or Forex (FX). In the same block, you will find information about the recommended trade duration (for example, 2 hours) and the exact time of the signal.
Finally, there’s a green/red icon with an upward/downward arrow. The red one means the price is expected to go down, so you should open an Up position. The green icon suggests the price may go up, so you should consider opening a Down position.
How to Use Olymp Trade Signals
The first thing to keep in mind is that trading signals are short-lived. Therefore, when you see a suitable signal on the list, you’d better use it ASAP. Olymp Trade suggests that you open a position within 10 minutes after the signal is given (see the time in the upper right corner).
To apply a signal, select the recommended trading mode and instrument, and open a position. Then, wait for the time period displayed right above the instrument’s name (“Time duration”).
Typically, it takes 2 or 3 hours, though sometimes you need to wait for 4 or even 5 hours.
Expert’s Trading Signals
Note that some Olymp Trade signals are free, but many are private and feature an Expert Status icon. It means they are available only to Expert clients who have the right to extra perks.
There are two ways how you can access these private signals:
- Get upgraded to Expert by making a one-time deposit of a certain amount. Another way to become an Expert is through accumulating Experience Points (XP). They are awarded for active trading.
- Subscribe to Expert trading signals using the platform’s Market.
If you prefer the second option, click on the Market icon in the left sidebar of your trading screen. Then, click on the Store tab to open the list of available add-ons and select what you need.
How Olymp Trade’s Advisors Work
Another way to get hints is using the recently added Olymp Trade tool called Advisor. It‘s super convenient, as the chart itself notifies you if a profit-making opportunity presents itself. When generating trading signals, the program takes into account the strategy you apply.
Right now, this tool is paired with three powerful strategies: and MACD Professional, Predatory Look, and Moving Average.
Below is a brief explanation of each.
- MACD professional strategy
The MACD-based advisor generates a trading signal when it sees two signs of a trend reversal: the quotes fix above or below the EMA, and the MACD lines overlap. To confirm the signal, the program applies the Parabolic.
The Predator advisor uses two indicators (Alligator and Awesome Oscillator) to monitor changes in the trend and generate trade-entry recommendations.
The advisor based on the popular Moving Average strategy generates a trading signal when two moving averages with different periods intersect. This tool would be suitable for Olymp Traders of all levels, including beginners.
Your current status on the platform does not allow using advisors? You can always update to Expert using one of the two methods we mentioned above. Besides, you can subscribe to the preferred advisor in the Market section.
To test these and other perks, you should have an account on the platform.
How to Use Olymp Trade Advisor
On your chart, click on the Indicators icon to open the list of available indicators. Go to the bottom of the list to find the Advisors section.
Click on the strategy you want to apply for this asset. To check if the advisor is active, look at the upper right corner of the chart. If the tool is working, you will see something like “Advisor: Predatory Look. Waiting for a signal.”
When the program identifies a buy or sell opportunity, you will be notified about it. Please remember that advisors cannot act on your behalf: it’s up to you to decide if you will take this chance or ignore it.
Of course, experienced traders might notice such opportunities on their own. But wouldn’t it be better to have a virtual assistant who takes some of the work off your shoulders?
View more information about the Olymp Trade tips and tricks here.
Let’s recap
Now you know everything you need to take advantage of the Olymp Trade signals and advisors. The important thing is to start small and keep in mind that no such tool is 100% accurate. So, you’d better use them to confirm or adjust your own analysis.
If you are a beginner, you may put Olymp Trade signals to the test while using your demo account. It’s an awesome method to get familiar with the platform’s perks before switching to the real thing.
Don’t have an account yet? Go to the Olymp Trade platform to create it right now.
