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  03 Feb 2020  A Beginner’s Guide to becoming successful with Olymp Trade

A Beginner’s Guide to becoming successful with Olymp Trade

THE ASIAN AGE
Published : Feb 3, 2020, 11:22 am IST
Updated : Feb 3, 2020, 11:48 am IST

This article is an overview of what you need to know to start your journey as the successful trader you want to be.

Often people are nervous to take the steps necessary to invest with confidence.
 Often people are nervous to take the steps necessary to invest with confidence.

It has been said before and we will say it again, if your money isn’t working for you, then you are only working for money. However, there are a variety of ways to amend this. Investing is no longer the rich person’s game it once was, anyone can make their money work for them. 

Successful traders can earn enough to quit their day jobs. Often people are nervous to take the steps necessary to invest with confidence. There are few hobbies like forex and options trading, that have the potential to change lives. This article is an overview of what you need to know to start your journey as the successful trader you want to be.

How to start trading?  

First, you must register with a broker. When choosing a broker to work with you want to find one you can trust. For example, Olymp Trade is an award-winning Financial Commission member operating since 2014. Once the registration is complete, a trading account and demo account with $10,000 Demo dollars are opened automatically. The minimum deposit is $10 / €10 and the minimum trade amount is $1 / €1.

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After the accounts have been established take time to understand the markets. Options are predictions a trader makes about whether the price of an asset will rise or fall after a period of time. Forex is the practice of trading pairs to either profit from the price increase or decrease.

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Olymp Trade has a large educational suite to help new investors become acclimated to the markets, tools, and strategies that make a successful trader. With 72 assets (currency pairs, stocks, indices, commodities, and cryptocurrencies) to trade, understanding the markets and how to best operate within them is essential.

What are assets?

Assets include currency pairs, stocks, indices, and commodities. They are the foundation of an option. When trading options, currency pairs, commodities (gold, oil), key stock exchange indices and stocks can be traded. All Olymp Trade assets are described in detail on their site.

Indicators and training

Technical analysis indicators are some of the tools used to predict the volatility in asset prices. Each indicator is an algorithm that is displayed on or below the chart. They are designed to help traders find the right moments for making profitable trades.

For example, the RSI indicator helps one anticipate a trend reversal. It looks like a regular chart but its range is 0-100. When trading forex, the line rising above 70 (the red line) is a sell signal or dropping below 30 (the green line) is a buy signal.

You can see the chart growing after the buy signal from the RSI line falling below 30 in the first rectangle. Then shortly after there is a second signal when the line rises above 70, a sell signal.

The Olymp Trade platform has a built-in Assistant to explain the 20+ indicators as a part of its educational suite. Brimming with descriptions of the entire platform and its tool, the site’s Assistant is able to answer almost any question a trader could have.

Deposits and Withdrawals

An important aspect for all investors is the ease with which you can deposit and withdraw funds with a broker. Traders can make a minimum deposit and withdrawal of $10 through a number of payment methods. Deposits are instantly credited to your account, while withdrawals can take 1-4 days depending upon the account the money is being withdrawn to.

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Olymp Trade has incorporated numerous ways to deposit and withdraw funds to your brokerage account including Visa, Mastercard, Fasapay, Skrill, and even Bitcoin. Skrill is one of the most used methods by our Indian traders. Deposits or withdrawals are processed quickly, providing access to your funds with the added benefit of absolutely no commissions on deposits or withdrawals.

How to make a trade?

Let’s look at Options, as they are the simpler of the two. Choose an asset, decide how much to invest, and set the time after which your prediction will prove correct (execution time). Using a strategy to help predict whether the price will move up or down is a key part of any great trader’s tool kit. When an option is opened successfully, a trader’s profit can be as high as 92%. Profit percentages depend directly on market volatility; the higher the volatility, the higher the profit.

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On the Olymp Trade platform, execution times range from a minute to 3 hours. Traders decide whether the asset’s price will go up or down in a specific time frame and press either the Up or Down button if they think that the price will go down. Once the time has elapsed the prediction will have come true or not. If correct, the trader receives his or her instant payout.

As you can see Olymp Trade was built to be the easiest to use trading platforms available. Its simplistic interface and streamlined technology allow traders of all levels to quickly master trading. There are many platforms to choose from, but none are as dedicated to ensuring their users are able to maximize their earning potential as Olymp Trade.

Disclaimer: This is featured content. No Asian Age Group journalist is involved in creating this content. The Group also takes no responsibility for this content.

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