Olymp Trade - opinions

[Mokae]

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I'm searching for simple strategies to work on the forex market with the Olymp broker.

[Qurani]

For a calm market, I would advise using technical analysis and simple oscillators, such as MACD. During the period of news release it is necessary to use fundamental analysis. The second option is much more complicated and requires a lot of practice, so most traders stop working before the news releases.

[Mokae]

I've got a demo account and I tried using the Sentiment indicator on the LTC chart, and I managed to make profit. I think Sentiment is ideal for cryptocurrencies, because the economic calendar doesn't affect tokens. It's a pity that Olymp has a large commission in comparison with crypto exchanges.

[Qurani]

I'll answer step by step. Sentiment shows traders' sentiments. You can profit from it, but it won't help you understand the market, so I wouldn't recommend you building your whole trading strategy based on the sentiments. MACD is used by trading robots. The movements on the crypto market are formed purely by technical factors, which include the result of robots' work. In my opinion, MACD is more preferable. As for the fees, don't forget that exchanges charge transaction fees and there's also a spread, and in Olymp there's only the fee. No spread. Generally, it is more economical.

[P-Chan]

too good to be true based sa ilang mga ads

[Qurani]

Yes, investing in financial markets and trading there requires special knowledge. But knowledge is easier to get than developing skills in anticipating the results of sporting events. Where is knowledge and where is dependence on luck?) Seriously! Does anyone monitor hidden advertising?

[Mokae]

If brokers have the same commissions, in particular, as Olymp Trade's, how can crypto-exchanges be popular?

[Qurani]

Since in recent years, artificial currencies and interest in them have arisen, there has also been a demand for platforms where cryptocurrency owners could exchange them. Actually, when a new cryptocurrency arises, it should be formally accepted, i.e. get access to a potential audience and at this stage crypto-exchanges are essential. Later, if a cryptocurrency becomes in demand, the dynamics of its fluctuations attracts short-term speculators, and this cryptocurrency becomes a valuable asset for brokers who include it in their assets. Nowadays investing in crypto-industry becomes less interesting, but speculative interest increases. Brokers and their clients make money on crypt fall, but not exchanges, which is why fewer new exchanges appear.

[Backid]

I would advise you to do your homework and learn basics of trading on financial markets. Focus on a product that you want to trade and spend some time on demo account practicing. If you just seek for a strategy to follow without any understanding, there is a huge probability of losing your money

[Mokae]

I understand that success depends on preparation, but the direction of research is also important, otherwise there is a risk of losing time. Is it better to focus on options or on regular forex? Options are very profitable, but the risk of losing a bet is also high.