Olymp Trade India is a Forex and Fixed Time Trading broker. It has a wide global coverage and is well regulated for International trading.
The broker offers a user-friendly platform which enables you to profit from price changes of various assets.
In this post, I will show you exactly how to make money trading on Olymp Trade in India.
This is by trading Forex and Fixed Time Trades.
Follow these simple steps to download the Olymp Trade Mobile App:
- Go to the Google Play Store for Android or the Apple App Store for IOS.
- Type Olymp Trade Mobile App on the search bar.
- Hit the Install button.
- Allow the Olymp Trade App to download and install in your Android or IOS device.
- Confirm that the Olymp Trade App was successfully installed in your device.
Register here if you don’t want to install the app.
- Enter your email address.
- Set a Log in password.
- Agree that you are of legal age.
- Confirm your email address.
App Log in.
Open the Olymp Trade App after registration and Log in following these easy steps:
- Enter your email address.
- Enter the password you set during registration.
- Let your browser solve the login capture for you.
- You are now logged in.
Once you log in to the Olymp Trade Mobile App, you will get a Demo Account.
It is loaded with $10,000 units meant for practicing trading.
On a demo account, you can do anything – invest any amount and make as many mistakes as you like. Interestingly, these capital units can be replenished any time they get depleted.
Because you can do anything on a demo account, you can use it to develop a trading strategy.
A trading strategy needs an equally robust money management strategy and therefore you need to develop both.
First, determine what mode to trade on the Olymp Trade platform – Forex or Fixed Time.
Did you settle on Forex?
Develop a proper trading strategy based on the basic principles of price movements as well as proper money management terms.
If you decide to trade Fixed Time, acquire the basic understanding of how prices move to develop a trading strategy and a money management strategy.
Forex and Fixed Time Trading.
Forex Trading on Olymp Trade involves establishing the probable direction of price movement.
Once you establish the direction the price will move next, you then enter a trade.
While doing so, set a Stop Loss order closely above your trade if a Sell or closely below your trade if a Buy.
You also set a Take Profit Order at a reasonable distance in the anticipated direction of price movement. This is to target more than you risked with the Stop Loss.
The more the price moves in the direction you predicted, the more you earn until your Take Profit Order is activated.
On the flip side, the more the price moves against you, the more you lose until your Stop Loss Order is filled.
Fixed Time Trading on Olymp Trade also involves establishing the probable direction of price movement.
However here, you are not bound by Stop Loss and Take Profit Orders but by Time.
You set the trade duration after which the trade you enter expires and you are declared a winner or a loser.
If you win, you earn back your invested amount plus the specified percentage of the invested amount.
If you lose, you unfortunately lose all your invested amount.
Losing is not everything though, because if you have a proper money management strategy like the Martingale, you will just double your trade size and enter another trade, whose win will cancel the current loss.
Developing a Strategy.
Learn how the various technical indicators and oscillators work on the Olymp Trade platform and develop a trading strategy using them.
Remember to use different classes of indicators because using same classes leads to redundancy.
A proper trading strategy must have at least one technical indicator from the following classes:
Alternatively, you can choose to develop a trading strategy without indicators by using Price Action and other hints.
After a trading strategy, learn how to manage your money using the various money management strategies which include:
- Fixed Trade Size.
- Fixed Account Size Percentage.
- The Parley Method.
- The Martingale Method.
- The Anti-Martingale Method.
- Reasonable Risk to Reward Ratio.
- Use of Stop Loss and Take Profit Orders.
- Position Sizing.
Olymp Trade allows you to deposit as low as $10 and start trading.
However, because you have developed both a trading and a money management strategy, you have treated your Demo account as real and seen how much might possibly be required to run your system, you may want to deposit more.
Ideally $100 is considered average.
Make sure you deposit not less than what your system requires.
By system I mean your trading and money management strategy.
If you happen to deposit less, it is actually like throwing your money away because if anything happens, you won’t survive the ravages of unfavorable market conditions.
To be safe, observe your trading and money management strategy under good and equally bad market conditions.
Note the highest amount that you might require even when bad market conditions strike.
That is the amount you will be required to deposit, therefore do not fall for the minimum deposit of $10.
You can fund your Olymp Trade India account through:
- Bank Cards.
- China UnionPay.
- Perfect Money.
Real Account Trading.
Ever heard of training hard to fight easy?
That’s the exact thing we have done here.
We have spent most of our time developing a working trading and money management strategy and acquiring the relevant knowledge.
However, if you go too deep, too fast you may never recover from the ravaging cuts of the market.
Olymp Trade Contacts