MouthShut.com Would Like to Send You Push Notifications. Notification may includes alerts, activities & updates.

OTP Verification

Enter 4-digit code
For Brands
Profile Image

Profile Image

Olymp Trade
@OlympTrade

VERIFY YOUR CONTACT NUMBER

Please enter your valid contact number to receive OTP.

Submit

Blog

Great Olymp Trade Strategies for Beginners

By: OlympTrade Posted Oct 28, 2020 General 433 Views
(Updated 1 day ago)

Use These Trading Strategies on Olymp Trade and Earn More

Trading online can generate excellent extra income for large or small investors in the digital age, but many newer traders are often curious about which trading strategies for Olymp Trade are best.

There is no “best” answer for which trading strategy on Olymp Trade is right for you, but here you will find two of the most consistent trading strategies used by professional investors with a long history of successful trading. Take a look at these trading strategies for Olymp Trade and see which of them is the best fit for you.

You can put these trading strategies into action using your existing Olymp Trade account or set up a new account on the popular trading platform here: https://rebrand.ly/otpolymp

Sliding on Averages Trading Strategy

The Sliding on Averages trading strategy is a great 5-10 minute trading strategy that is perfectly suited to Olymp Trade’s Fixed Time Trade mode. The trading strategy uses a combination of two different settings of the Simple Moving Average (SMA) indicator. For this example, the Fixed Time Trade mode is used, but can also be used in Forex mode on Olymp Trade.

This trading strategy is not overly complex and can be set up on your customizable chart in only a few seconds for any on the Olymp Trade platform. It is highly intuitive, but there is a helpful tutorial on the Olymp Trade site in the Education section with a video if needed. Here are the steps:

1. Select an asset you are interested in trading and set your chart’s timeframe to 5 minutes.

2. Now click on the indicator selection button and choose SMA twice. Next, you will need to edit the settings for each of the SMAs. Set one of them to “60” and the other to “4” as illustrated below. You will notice that this example uses blue for the “short” SMA and red for the “long”, but you can use whatever colors you prefer. Just be sure to use the correct number settings.

3. Now that your chart is all set up, you will want to change your trade “duration” to 10 minutes. In this strategy, the duration is double the chart timeframe. Therefore, 5-minute chart - 10-minute duration. The amount of the trade will depend on each investor and their preferences but makes no difference when using this Olymp Trade trading strategy.

4. You will now need to identify when to actually execute a trade, and with this trading strategy, it is very simple to understand exactly when. What you will be looking for is when the “short” blue SMA intersects with the “long” red SMA. When this happens, you should open either an Up or a Down trade depending on the direction of the “short” SMA as it crosses the “long”.

You’ll notice the 3 red arrows on the screenshot of the gold chart, which demonstrate points where the “short” SMA crossed over the large.

The first arrow (far left) shows the “short” SMA crossing while moving down. In this case, a Down trade should be open once the intersection is complete. You’ll notice that 10 minutes later, the price of gold was actually lower and so this would have been a profitable trade.

The 2nd arrow shows the “short” SMA rising as it crosses the “long” SMA. In this case, the trader should open an Up trade after the intersection is complete. The trader would have been successful again with their trade and profited more and within 30 minutes of finishing the last trade.

The 3rd arrow shows the same process repeating later in the day providing yet another opportunity to make a profitable trade on the same asset. So, in about 5 hours, one asset provided traders using this strategy to make 3 profitable trades and this process can be duplicated with any asset.

Quick Turn Trading Strategy

The Quick Turn trading strategy requires the use of some different indicators, but it is still a simple process to set up on your chart, and it is equally accurate in indicating entry points for profitable trades making it an extremely popular trading strategy on Olymp Trade.

The example will again use Olymp Trade’s Fixed Time Trade mode, but traders can use this trading strategy in Forex mode as well. One reason that Fixed Time Trades work very well with this strategy and the Sliding on Averages strategy is that they don’t require large swings in prices to be profitable.

With Fixed Time Trades on Olymp Trade, the investor only needs to forecast price movement Up or Down and the increase or decrease in price is irrelevant. On a Fixed Time Trade, if the price increases/decreases in the timeframe selected by the trader by any amount as forecast, the trader makes a profit as long as they forecasted the correct direction and timeframe.

1. As before, select an asset of your choice and set the chart timeframe for 5 minutes. However, this time, the duration of the trade should be set to 3 times the chart timeframe or 15 minutes.

2. Three indicators will need to be used for this trading strategy and the settings will need to be customized. Go to the indicators button and select, WMA (Weighted Moving Average), Parabolic SAR, and the Stochastic oscillator.

3. Next, edit the settings for the WMA and the Parabolic slightly. Change the WMA setting to “7” and the Parabolic to “0.09”. The colors used are up to the trader’s own preference, but in the example below, the WMA is green and the Parabolic is pink.

There is no need to edit the parameter of the Stochastic oscillator on the Olymp Trade platform as the default settings are already optimal for this trading strategy.

4. After the indicators, chart, and trade information is all set, it is time to look for opportunities for trading entry points. Using this trading strategy requires an agreement between each of the indicators used in the strategy if it is to remain accurate for a trading forecast.

Traders should look for moments in the chart where the price of the asset is about to “turn”. One of the best ways to understand when this will occur is when the market for the asset is overbought or oversold.

The Stochastic oscillator helps traders identify when this has happened when it moves outside the top or bottom bars of the Stochastic indicator. When this happens AND the Parabolic dots (pink) change their position from either below or above the current price, it shows that the price of the asset is reversing or making a “turn”.

In the example above, the Stochastic oscillator is below the green line indicating that the asset (EUR/USD) is currently oversold or undervalued. Additionally, the Parabolic dot has changed from a position above the candlestick to below the candlestick indicating that the price is likely turning upward.

Furthermore, the WMA indicator is moving upward. Since all three indicators are demonstrating that the price will continue to increase, it is an excellent opportunity to open an Up trade.

This trading strategy can be used for Down trades as well provided that the conditions demonstrate a reversal of the price downward. Here is an example of where the asset is overbought and the price reversed downward. Opening a Down trade at the point the Parabolic dot switched sides would have generated another profitable trade using this trading strategy.

Price reversals occur every day with nearly all assets, and this provides investors with dozens of opportunities to implement this trading strategy and profit on multiple different assets consistently. It is one of the reasons that the Quick Turn trading strategy is very popular with many investors.

Olymp Trade Provides More Great Trading Strategies

Opening an account on Olymp Trade will allow investors to not only check out these trading strategies but also gives free access to additional trading strategies for free. Additionally, Olymp Trade clients are given a demo account where they can test out the trading strategies themselves without risking any of their own capital.

With a variety of trading strategies, some of which only require 1 minute to make a profit, and a trading platform like Olymp Trade that allows trades for as little as $1 USD and a minimum deposit of only $10 USD, it is easy to see why Olymp Trade is both popular in India and globally. Open your Olymp Trade account today here: https://rebrand.ly/otpolymp.

Trading doesn’t have to be complicated and it doesn’t require a huge investment. Using these great trading strategies on Olymp Trade can definitely be an investor’s ticket to reaching their financial dreams. Learn how to register an account to try out Olymp Trade strategies in practice: https://mouthshut.com/blog/bbbjorlqpo/Olymp-Trade-How-to-Register-and-Login

You loved this blog. Thank you for your rating.
X