What are Olymp Trade Trading Contests?
Olymp Trade trading contests are competitions among traders to find out who attains the highest returns over a given period of time.
These competitions are organized by the broker, Olymp Trade.
Olymp Trade contests may involve either fixed time or Forex trading.
Such contests may involve the use of live or demo accounts.
It will depend on the tournament or contest instructions which must be followed strictly.
And true to brokers’ word, people win these contests.
Begging the question, which hacks do traders employ to win?
In today’s post, I will show you everything that you need to do to hack and win Olymp Trade trading contests.
Here we go:
Follow all Contest Instructions.
You must play by the rules before you can think of winning any Olymp Trade trading contest.
Rules regarding what time a contest begins and ends, what kind of account trades must be placed, the number of trades to be placed, and so on.
What if you flout any of the rules regarding a particular Olymp Trade trading contest?
Then it’s so unfortunate that even if you are so convicted that you attained the highest possible return during the span of the contest, you cannot be declared the winner.
Olymp Trade trading contest rules are very key.
Failure to follow them leads to disqualification and while you might have been the winner, your participation no longer counts.
Hack number one to win Olymp Trade trading contests – play by the rules!
Forget About Being a Consistently Profitable Trader.
I know your eyebrows are high because we have always insisted on being a consistently profitable trader from the word go.
But hey, this is not a lifetime of trading we are talking about here.
This is a trading contest!
A trading contest does not care whether you show the potential of being consistently profitable or not.
What a trading contest wants from you is, by the end of the day be the trader who grew their account by the largest margin.
Do you get me now?
You must separate these two realities here.
One reality of day to day trading is, you must ensure you are profitable, not instantly but consistently.
Then another reality of a trading contest is to trade within the specified duration and to make tons of money to be branded winner.
Hack number two – win Olymp Trade trading contests – switch from consistently profitable trader mode to an instantly profitable trader mode!
Risk Much of Your Trading Account.
You must always use a risk to reward ratio of at least 1:2.
You must never expose more than 5% of your trading account in a single trade.
Always use proper money and risk management.
Yes, I know we have always told you that.
But this is a contest!
It’s not a forum to see which trader knows how best to manage their trading account!
We want to see you grow that account within the shortest time possible, regardless of how much you risk, in order to call you a winner!
So what then?
One of the factors that can quickly grow your account is risking so much.
The higher your risk, the greater the potential returns.
Whether it is a real or demo account contest, just make sure you expose much of your account to the market.
It is the only possible way you can grow your account fast and probably grab the contest winner accolade and the award that comes with it.
Hack number three to win Olymp Trade trading contests – expose much of your trading account to risk!
Have a High Win Rate.
By now you must already see the intentions of an Olymp Trade trading contest.
And it is simple.
To see who earns the highest returns within the specified duration of the contest and award them.
So what has a high winning rate got to do with winning an Olymp Trade trading contest?
Tell me, doesn’t a high win rate mean that you are going to bag more profits?
That’s because if you win almost every trade and risk so much per trade, your account will see such huge exponential growth.
And that is all an Olymp Trade trading contest is about.
Making sure that whatever you do is meant to grow that trading account as fast as possible.
So what do you do to have a high win rate?
You have developed your own trading strategies, some of which you claim have given you 99% efficacy.
Go ahead and employ those strategies and walk away with the contest winner prize.
What you can also do is to gain an edge in your trading strategies once you make up your mind to participate in a contest, so that you improve its win rate.
Hack number four to win Olymp Trade trading contests – up your win rate game!
Go all in Towards the End.
We talked about risking much of your account as the contest proceeds to increase your chances of winning.
That would grow your trading account so fast and tremendously so that odds are most likely on your side.
But we didn’t talk about risking almost all of your account in a frantic search for victory, did we?
Now, you must be thinking that I have mental issues or something because this is something I have never told you to do in the past.
But hey, remember what this is?
This is a trading contest, not a gauge for who knows how to manage accounts and who doesn’t.
So what does going all-in towards the end mean?
It means staking almost and more often all of your account in an attempt to double your account multiple times.
Is this possible?
Yes, it is, let me explain.
We talked about a high win rate.
You can merge it with this hack and stand a very high chance of being the winner in the Olymp Trade trading contest you participate in.
Hack number five to win Olymp Trade trading contests – risk almost all of your account towards the end of the contest!
Good luck on your next contest.