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Imagine a captain sailing a ship without the compass direction and the map of the voyage, what do you think would happen?
Wouldn’t that be an aimless and almost impossible journey?
Well, such is trading. You can’t just get into the market without a strategy and hope to find your baring. And if you do, then it will most certainly be out of luck.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
To increase your probability of winning though, you will need to trade with strategies. In this post, we will discuss 7 best strategies that you can use to make money when trading in Olymp Trade.
Are you ready to sail, Vuallah! Let’s get right to it, shall we?
- Moving Average Strategy.
- Support and Resistance Strategy.
- Breakout Strategy.
- Pyramid Strategy.
- Candlestick Patterns Strategy.
- Gap-fill Strategy.
- Martingale Strategy.
1. Moving Average Strategy.
Moving Averages can be used to create very robust trading strategies. Say for example you use two moving averages, one with a shorter and one with a longer period.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
These two moving averages can be used in a variety of ways as a strategy. Moving average crossovers, price action in relation to the moving averages and the use of an additional indicator like the Relative Strength Index (RSI) can form a complete trading strategy.
For your Buy positions;
- Your shorter period Moving Average should cross over the longer period Moving Average from below upwards.
- The price should keep trending above that shorter period Moving Average.
- The RSI may be showing an oversold condition, a bullish divergence or convergence, or anything hinting to a rise in the price.
For you to Sell;
- The shorter period Moving Average crosses over the longer period Moving Average from above downwards.
- The price keeps trending below that shorter period Moving Average.
- RSI shows an overbought condition, a bearish divergence or convergence, or any hint to a price fall.
Where there are Exponential Moving Averages, Weighted Moving Averages, and Simple Moving Averages, Exponential Moving Averages are preferred because they refer to the most recent data in their calculations.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
2. Best Strategies for Olymp Trade FTT #Support and Resistance Strategy.
Support and Resistance are certain predetermined levels of the price of an asset at which the price tends to stop and reverse.
While support lines are low levels on the price charts where prices don’t tend to go past downwards but pause and reverse upwards; resistance is a high level on the price chart where prices don’t tend to go past upwards but pause and reverse downwards.
A combination of Support and Resistance with and an additional tool like the Moving Average Convergence and Divergence (MACD) can be used as a complete working trading strategy.
For you to enter a Buy position;
- The Price will be at the support level, having tested the level severally without breaking it downwards.
- The MACD will be showing an oversold condition / a bullish divergence or convergence/crossover of its moving averages above the zero line as well as the histogram bars shifting from below to above the zero line.
For you to enter a Sell position;
- Start trading with $1
- Earn up to 95% profits
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- $10 minimum deposit
- $10 minimum withdrawal
- The Price will be at the resistance level, having tested the level severally without breaking it upwards.
- The MACD will be showing an overbought condition / a bearish divergence or convergence/crossover of its moving averages below the zero line as well as the histogram bars shifting from above to below the zero line.
3. Best Strategies for Olymp Trade FTT #Breakout Strategy.
The price of an asset moves in certain patterns and channels whose limits can be determined.
Once you determine a level where the price does not tend to go past upwards and downwards based on past action of the price, then you can sense an anomaly if such levels are broken.
These limits may be support and resistance levels or even levels determined by certain price patterns like the cup and handle pattern, the pennant or flag pattern, the rectangle pattern, and many other candlestick patterns.
Breakouts combined with a technical indicator like the Relative Strength Index (RSI) could form a reliable trading strategy. Let us see.
For you to enter a Buy position;
- The price will have broken the upper predetermined limit.
- Prices will have tested the new level several times without breaking it back downwards.
- The RSI may be showing an oversold condition, a bullish divergence or convergence, or anything hinting to a rise in the price.
For you to enter a Sell Position;
- Prices will have broken the lower predetermined limit.
- The price will have tested the new level several times without breaking it back upwards.
- The RSI may be showing an overbought condition, a bearish divergence or convergence, or anything hinting to a fall in the price.
4. Best Strategies for Olymp Trade FTT #Pyramid Strategy.
The Pyramid Strategy is a trading technique that capitalizes on a strong trending move of the price to take one trade in the trend direction and continue adding more units as you lock profits as the trend grows.
You need to observe the price action and catch a strong trending move.
After this spot and initial support or resistance level, let that level be tested severally and if the testing is successful, enter your first trade in the trend direction.
Let the price establish new support and resistance levels, test it successfully then add an equal unit to the first, moving your initial Stop Loss to the point of the new entry to lock profits of the first trade.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
For your Buy positions;
- The strong trend must be an uptrend.
- Identify an initial support level, let it be tested successfully without being broken downwards, enter the first Buy position, and let the price keep moving up establishing new support levels.
- Add more units upwards as the uptrend grows, only if the new support levels get tested successfully.
- Keep moving your Stop Loss up after every trade to the level of every new entry to lock in profits.
For your Sell Positions;
- The strong trend must be a downtrend.
- Identify an initial resistance level, let it be tested successfully without being broken upwards, enter the first Sell position, and let the price keep falling, establishing new resistance levels.
- Add more units downwards as the downtrend grows, only if the new resistance levels get tested successfully.
- Keep moving your Stop Loss down after every trade to the level of every new entry to lock in profits.
5. Best Strategies for Olymp Trade FTT #Candlestick Patterns Strategy.
Price in candlestick charts moves in patterns called candlestick patterns.
Candlesticks can form so many patterns that can be utilized by traders for tradable and profitable opportunities. There are single candlestick patterns and candlestick patterns that comprise several candlesticks, all of which are known to generate profitable opportunities.
Candlestick pattern alone, however, may not be enough to make conclusive trading decisions.
Support levels, Commodity Channel Index (CCI), Relative Strength Index (RSI), Moving Average Convergence and Divergence (MACD) and Stochastic Oscillator can be used in conjunction with Candlestick patterns for confirmation.
The following are some of the bullish candlestick patterns.
They mostly occur at the end of a downtrend to signal a trend reversal upwards (Buy);
- Hammer – A candlestick formed by a short body and a long lower tail
- Inverse hammer – A candlestick whose upper tail is long with only a very short lower tail. It is an inverted version of the first candlestick pattern, the Hammer.
- Bullish engulfing – A pattern formed of two candlesticks. A short bearish candlestick which is completely engulfed or covered by a long bullish candlestick.
- Piercing line – This is a two-candlestick pattern. A long bearish candlestick is followed by a long bullish candlestick which gaps down to open lower and closes at or above half of the bearish candlestick.
- Morning star –This is a three candlestick pattern. One short-bodied candle between a long bearish and a long bullish candlestick.
- Three white soldiers –Three consecutive bullish candles with small wicks. They open progressively higher than the previous ones.
The following are some of the bearish candlestick patterns.
They mostly occur at the end of an uptrend to signal a trend reversal downwards (Sell);
- Hanging man – The bearish equivalent of the Hammer occurring at the end of an Uptrend. A candlestick with a short body and a long lower tail
- Shooting star – The bearish equivalent of inverse hammer formed at the end of an Uptrend. A candlestick whose upper tail is long with only a short lower tail.
- Bearish engulfing – A two candlestick pattern at the end of an Uptrend. The first is a short-bodied bullish candlestick and is engulfed or covered by a long bearish candlestick.
- Evening star – Bearish equivalent of the Morning star occurring at the end of an Uptrend. A short-bodied candlestick is trapped between a long bullish and a long bearish candlestick.
- Three black crows – Three consecutive bearish candlesticks with short or no tails. Each opens at the same price as the previous but each close is pushed lower and lower.
- Dark cloud cover – A two candlestick pattern. A bearish candlestick opens above the previous bullish candlestick and closes below its midpoint.
6. Best Strategies for Olymp Trade FTT #Gap Fill Strategy.
Trading gaps are a common occurrence in the markets.
One candlestick gaps to open way higher or way lower than the close price of the previous candlestick where it is usually supposed to open.
If the candlestick gaps to open higher it is a gap-up while if the candlestick gaps to open lower it is a gap-down.
Gap-fill strategy capitalizes on having to wait for the gap to fill then enter a trade.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
The level before the start of a gap up acts as a support level while the level before the start of a gap down acts as a resistance level.
If a gap up occurred, you will need to wait for the price to fall again to the level it was before the gap up occurred.
That way the gap will have been filled and because that level acts as a support level, then you will expect the price to reverse upwards after a successful re-testing of the level. A Buy position will be in order in this case.
If a gap down occurred, you have to wait for the price to rise again to the level it was before the gap down occurred.
The gap will then have been filled and the fact that such a level is a resistance level, you can expect the price to reverse downwards after the level has been successfully re-tested. A Sell position is inevitable here.
7. Best Strategies for Olymp Trade FTT #Martingale Strategy.
One Money Management strategy would suffice after having had a whole 6 trading strategies, right? Great.
So the Martingale Trading Strategy is a money management strategy in trading.
It is basically a trading method that involves increasing your trade size or amount when you lose. However, if you win the doubled trade, you revert back to the initial capital.
The strategy aims at recovering capital that has been lost previously in trades by increasing payout or gains. This is because the more capital you invest, the more profits you gain.
Let us say for example your trade size was $10. You stake $10 and lose. Double to $20 and still lose. You should then double to $40 and if you win, at a return rate of 80% per trade, you’ll earn $32 in profits.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
This ensures that you recover the $10 plus $20 you lost in the first unsuccessful trades and earned you an additional $2.
If that be the case, revert back to $10 and trade again.
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- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
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