Discuss OlympTrade.com

[Purekiller]

A wise guy said: “Buy rumors, sell facts”.
News creates expectations or changes them. Traders and investors drive prices based on expectations. If they change, then trends change.
Technical things are secondary, they take into account past performance but not future expectations of some events. This is why fundamentals can break technical patterns and make signals fake.
However, most of the trend reversals happen after a certain background is formed. The only condition to see is to look at a wider picture on long-term charts. You may trade with any expiration time, but you need to keep in mind the long-term technical and fundamental sentiment.

 

[Mnefyn]

So you say that I can apply the same trading strategies for both Forex and FTT types of trading? It doesn't even matter whether they are based on technical or fundamental analysis, right?

market research approach is the same whether you trade forex or ftts. the only question is where and how to exit the market. in ftts, you can’t change anything after you pick the expiration time. it all depends on the market after you place the trade. so it’s essential to choose the basic scenario of the price acton and pull the trigger only when you are totally confident. in forex trading, you can make adjustments. for instance, you can add the trading volume in the same direction to open positions that you already have. or cut losses. thus forex trading is more flexible in terms of the ways to control your positions.

 

[Purekiller]

Well, I would also add that the flexibility of Forex trading might be a disadvantage as well. For example, when you enter the market with a thought that you could apply some changes in the future, you make your positions vulnerable to being under the water for some time. If the trend is strong, the negative distance between the entry price and current rate is getting longer. Thus you enter a dangerous zone of too much pressure on your account balance and free margin. I tried the averaging approach earlier, and I can say that it does not work for me. I would better place a fixed-time trade and face a limited loss rather than scratch my head with a question about what to do with an open trade in Forex that is getting worse. Relying on hopes is not the best option in trading.

 

[7Bulletin]

I conduct the analysis first and then decide which type of trading is more suitable for this particular pattern. Sometimes reversals are too obvious to miss a lucrative opportunity. For instance, I can take profits from Forex trades at a certain price level, and open FTTs in the opposite direction. If things go well, I will continue opening FTTs on short-term charts. But if I see a negative result, then I stop the trading cycle, and try to see what happens next before making the conclusion about further direction of the price action. Anyway, it’s good to have a choice between these two types of trading.

 

[Anakelv]

Interesting conversations you have here. I came to Olymp Trade after I noticed both types of trading available in a single platform. Besides, the mobile app for trading looks very informative and easy to understand at a very first time. I definitely keep exploring the app and apply different trading strategies and analysis tools that you describe here as I want to become a pro in trading.

 

[Tahntaman]

Welcome aboard, mate. Let the profit be with you. I see that financial markets are favorable for trading nowadays. The risk appetite is growing, so I think the recent trends will keep moving forward till Christmas at least.

 

[Anakelv]

Thanks for the wishes! Still trying demo mode though.
What's the stock PT feature that they have along with fixed time trading and forex at Olymp Trade? Demo doesn't allow to see how it works.
What's in there?

 

[Mnefyn]

that stands for stock price trading. almost no difference with forex, but stock are all available under one list and you can long or short them. that's pretty much it.
personally i don't like it as market hours are cut in accordance with stock exchange regular hours. most people trade in ftt mode with olymp trade.

 

[Purekiller]

Yup, that's true. I've been watching how Olymp develops since 2019 as a live trader. They introuce some new features every half a year or so but the essence remains the same - people trade FTTs here using more or less short timeframes to grab some quick profits and have fun.
I don't share the opinion this is the most advantageous strategy, but its definitely more fun than buying Alibaba with all your margin and watching how it drawns.
Wishing you to find the approach that works for you!

 

[Anakelv]

Gotcha! Thanks a lot for the info and for opinions! I also wish you guys some nice profits in 2022!