Learn how to trade:
Share this
In high school we learnt that when balancing a chemical equation, it was prudent to: –
- Apply the Law of Conservation of Mass to get the same number of atoms of every element on each side of the equation.
Number two to this rule was to first: –
2. Balance the first element – And only after it was balanced, did we get the green light to proceed to balancing another element, and another, until all elements are balanced.
Calculate your binary options profits here
Trade History
Well, if you remember all that, then chances are, you also remember that all chemical formulas were balanced by adding a coefficient in front of them.
An easy topic. Or, is it?
Such is Trading.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
Like balancing chemical equations, trading has its own rules.
Standard rules which may seem daunting to beginners – but are just as important for successful trading as a bible is to a reverent.
To help you put these trading rules to perspective, I will discuss them. One by one. With the hope that by the time you are done reading or listening to this post, you will have diagnosed your trading issues and you will be ready to become successful trading.
Keep in mind the importance of these trading rules and only spend another dollar on a trade when you are sure it will be profitable.
Compare brokers here:
Here are our 5 Golden Rules For Successful Trading in Olymp Trade.
1. Manage Your Emotions When Trading.
The three most common emotions Olymp Traders encounter when trading are: –
- Fear.
- Excitement.
- And Greed.
All these emotions are independent and may affect your trading positively or even negatively.
From my trading experience, when emotions are overlooked, they can lead you into making sloppy trades; forgoing stop loss points, re-targeting trades for higher profits and mismanagement of trading funds.
A perfect example is when you do both your technical and fundamental analysis, pick trading signals then decide to place an upward trade. Of course keeping in mind that all your signals are pointing to that direction.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
Then immediately after placing your trade, instead of that asset going the same direction you picked, it changes course and takes the opposite direction.
At which point you start fearing for the worst and begin making more reckless trades in the new direction. Then again a contrary direction begins to form.
Before you know it, your account is blown.
The same thing can happen if you keep winning consistently.
If you are not careful, emotions such as greed and excitement can set in – forcing you to trade with more money. If you are not careful, this can also lead to disaster.
Tip for managing emotions when trading: –
If your emotions are running high and your heart is beating fast, take a walk down the street or just relax. Only open your trading charts again when you are back to your factory settings.
2. Don’t Just Trade! Use Strategies to Make Money!
Though there are thousands of tested and working strategies that anyone can use to make money in Olymp Trade, some traders still opt not to use any. At all.
And if you ask me, not using strategies at all is in itself a strategy to fail as a trader.
If you have spare time before starting to trade, use it to learn how both technical and fundamental analysis work.
Mastering a thing or two on strategy trading will save you overwhelming losses.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
Here are some of our most popular articles on strategies that aid with successful trading: –
- How to Pick Entry Points in Olymp Trade With Bollinger Bands.
- 10 Best Indicators For Day Trading in Olymp Trade.
- Parabolic SAR | The Easiest Way to Pick Trading Direction in Olymp Trade.
- How I Used The Olymp Trade Android App to Make Ksh. 716,491 in 5 Months.
Have you found a strategy that fits your style? Go ahead. Trade.
3. How Much Do You Have in Your Olymp Trade Account? Manage Your Money.
Remember, even if you learn all the trading strategies available in the world, if you don’t manage your account well, all else minus the physical cash you have at hand is vanity.
To balance your trading equation at this level, make sure to set the amount you want to risk per trade.
Ask yourself this questions.
Is it 1% of my account balance ideal for my success?
If so, don’t go past that.
- Two, calculate your reward-to-risk-ratio. Are your rewards making sense vis-à-vis your risk?
Don’t take a risk that’s not worth it.
- Three, use stop loss orders and avoid trading aggressively.
4. Follow The Trend.
If you are trading on the Olymp Trade android app (download); iOS app (download) or on the web trader app (download) be sure to follow the trends.
A good way to do this is to look at the direction of the asset’s price movement during the last hour/4 hours/day or a week.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
Which direction is it facing?
Believe the the strength of that trend. Follow that direction. Make Money.
5. When’s The Best Time to Trade in Olymp Trade?
Ideally, the best time to trade in any market and to win trading is when there is: –
- A lot of volatility.
- Several minutes before or after the release of important news such as the non farm payroll.
- Several minutes before or after the release of a company’s financial report (if you trade stocks).
- And under normal trading conditions.
Also Read: – Trading Sessions | When is The Best Time to Trade Forex in Kenya?
Summing it up.
If you can get all these conditions right then chances are, you will be able to achieve success trading in Olymp Trade..
But even as you use this masterpiece to improve your trading, remember, not all strategies, rules and filters work perfectly in trading as they do in chemistry.
Share this
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
Recent Posts
You Will Become Rich Quickly if You Live in One of These 6 Countries.
Where in the world is it easiest to become rich? While so many people think that to become rich you’ve got to live, work, and do business in Iceland, Sweden, ….
You Can Make $274 if you Invest $100 Ten Times With a Winning Rate of 70%
Quite so often we receive WhatsApp texts or even telegram messages of traders asking, “how much will I make if I invest $100 in Olymp Trade?” While it is easy ….
XM Seminars for 2020 | Register a Real Trading Account to Book Seat
XM Global Ltd operating under the business trading name XM is a securities service provider licensee regulated and authorized by the International Financial service commission (IFSC) in Belize under the ….
XM MT4 | How to Make Money Trading Forex on Your Smartphone
Did you just register for a Forex trading account – which by the way, you hope to use to make so much money online but are still stuck wondering what ….
XM Global vs Olymp Trade | Which Broker to Join?
XM Global vs Olymp Trade, which broker should you sign up for? The real question should be, between Forex trading and Fixed Time Trading, what’s best for a beginner? Tell ….
XM Global No Deposit Bonus Forex! XM Forex $30 Bonus
COLWMA (City of London Wealth Management Awards) winner of Best FX Service Provider 2023, XM Forex is one of the best Forex brokers with a no deposit bonus globally. The ….
XM Forex: How Does Forex Trading Work?
To understand how Forex trading works, we must first understand what Forex is. And what is Forex you ask? Forex, also known as foreign exchange or FX, is the global ….
XM Forex Bonus $30 – How to Start Forex Trading Without Money
One of the reasons why most new traders fail to go past the demo account is the fear of losing money trading on a real account. But what if I ….
XM Forex 10th Anniversary Promo | Up to $1,000,000 to be Won in Prizes
Hey there,Do you want to raise so much money so fast for Christmas? How much do you wish to raise?Ksh. 50,000, €1,000, ₽2,000, ₹4,000,… or $10,000?Well, if your budget falls ….
XM Broker: Why is Forex Trading Popular?
There are so many reasons why people trade Forex. Some of these reasons also double up as the advantages or benefits of Forex trading. And what are these benefits you ….
Broker Comparison
Top 5 Binary Options Brokers With $10,000 Demo Account
Binary options trading is fast becoming popular in the world and with this popularity the urge and to find the best broker to trade with. But when we talk of ….
Tips to Becoming a Forex Millionaire in Kenya
Most people in Kenya have turned to forex trading to earn an extra coin. To start trading forex though, you need to have an account that will hold your money ….
SabioTrade: Get Funded and Withdraw up to 80% Profits
Are you looking for a way to trade Forex with a funded account and withdraw up to 80% of your profits? If so, you might be interested in SabioTrade, a ….
Quotex vs Olymp Trade. Which Broker to Sign up With?
Quotex vs Olymp Trade which broker should you sign up with? This is a common question that we get all the time, especially from newbie traders who want to sign ….
Quotex Broker Regulation Vs Olymp Trade Regulation
Quotex Broker is a binary options broker that offers access to its trading platform globally to traders who’d like to make money trading in shorter time frames. Just like Quotex, ….
Nigeria Forex Millionaires And Their Forex Strategies
Forex trading has spread to several parts of the world and is legal in Nigeria, and Africa. However, it operates within a gray area. Subsequently, the Central Bank of Nigeria ….
Is Qx Broker Among The Best Binary Options Brokers
Binary trading is one of the easiest and safest ways to trade online. It is also the fastest-growing form of investing. Binary trading is one of the easiest ways to ….
IQCent Broker Review With User Opinion, Legit or Scam?
Do you want to start trading with IQcent and don’t know if to trust them or not? Welcome to our comprehensive review of IQCent, the online trading platform that has ….
IQ Mining Review Plus Users Opinion. Legit or Scam?
IQ Mining is a dual-purpose platform, serving as both a cloud mining hub for cryptocurrencies and a broker for Forex and binary options trading. Its efficient utilization of smart contracts ….
Forex Millionaires in South Africa and How they Make Money
Last week, we started a new series of listicles on this blog. Our objective? To explore, discuss, and reveal the faces of forex millionaires in the countries where forex is ….
Business Ideas
What is the Best Business to Start in Kenya?
Kenya is a great place to start a business. The best type of business may be different for you, depending on your skill set and what you are looking for ….
What Business Ideas Make The Most Money
Are you an aspiring business entrepreneur? Check out our list of the most popular business ideas in 2024. People venture into the business world for different reasons. Some because they ….
What Business Can I Start With 2k In Kenya In 2024?
Kenya is a great place to start a business. The economy is growing, the population is young and there is a lot of opportunity for entrepreneurs. However, starting a business ….
Top Business Ideas that Will Make 375 SAR Daily in Saudi Arabia in 2024.
It is common knowledge that Saudi Arabia is the world’s greatest oil producer. Around 25% of the world’s petroleum reserves are processed in the country. According to statistics, Saudi Arabia’s ….
Top 50 Online Shopping Sites in India.
You must have found yourself ordering a thing or two from an online store and they delivered to your preferred address, right? Now that is the new fashion of doing ….
Top 50 Most Profitable Businesses in Kenya
Ain’t it not easy to say I want to start a business in 2024? Of course not. You have to do your due diligence: come up with a business idea, ….
Top 50 business ideas for All Ages {Online and Offline Ideas}
Many people desire to venture into entrepreneurship for different reasons. For sure, being your own boss, working from your home, garage, or office, offers total control and satisfaction. You can ….
Top 5 Instagram Businesses to Start
Instagram is an amazing photo and video sharing app that we use to connect to friends and family online. Interestingly, Instagram is as much a great place to start your ….
Top 30 Best Businesses to Start in Eldoret Town
Would you like to start a small business in Eldoret town? Which business do you have in mind? Do you have data to back up its profitability and to maybe ….
Top 20 Small Businesses For University Students In Kenya
Are you a university student in Kenya and looking for small business ideas to start? You are in the right place. In this article, I will show you the #20 ….
Make Money
Works at Home: 30 Ways to Make Money Fast (Online And Offline)
No matter what your situation is, there’s a side gig for you. Whether it’s to make a little extra cash or help solve an emergency issue, having a backup plan ….
Will Shiba Inu Coin Keep Making Investors Rich in 2024?
The Shiba Inu Coin has been one of the most popular crypto success stories since 2018. This meme-based cryptocurrency moved to its highest in just a few years making it ….
Which TikTok Star Will Have the Most Followers in 2024?
TikTok is a social media app that has taken the world by storm. It is a platform where users can share short videos of themselves. The app has been downloaded ….
Which Freelancing Site Should I Visit To Make Money Coding?
Freelancing is the best way to make money because it allows you to work on your own time and set your own schedule. You can take jobs that are local ….
Where to Get FREE NFTs: 11 Easy Ways to Do It
Non-fungible tokens (NFTs) are all the rage right now. These unique digital assets are quickly becoming a staple in the world of blockchain gaming and collectibles. The best part about ….
What’s The Best Business to Start in Kenya in 2024?
There are many businesses that you can start in Kenya in 2024. However, not all of them will be successful. It is important to do your research and find a ….
What No One Says About Olymp Trade! Put Together in a Video.
Could this be you? You opened an Olymp Trade account. Made a deposit. Traded on a live account for the first time. The outcome? You lost your first $10 deposit. ….
What is the Easiest Way to Make Money Online in Kenya in 2024?
There are thousands of ways you can make money in Kenya. Some of them require no skill or experience whatsoever, others? You’d need skill and experience to do with success. ….
What is The Easiest Way to Make $100 Today?
If you’re already making money online, skip this post. If you’re not already making any money online keep reading. Because the methods that I’m about to show you in this ….
What is The Easiest (Non-Scammy) Way to Make Money Online?
Making money online can seem like a daunting task. There are so many scams and get-rich-quick schemes out there that it’s hard to know what is legitimate and what isn’t. ….
Quotex Tutorials
What is Quotex? Quotex Trading Course for Beginners
Quotex is a cutting-edge digital options trading platform known for its user-friendly interface and numerous tradable assets, including OTC pairs, traded 24/7. The Quotex trading platform accommodates traders of all ….
Try This Quotex 1 Minute Strategy for Fixed Time Trades
While binary options trading is easy and only requires traders to choose between two different outcomes, it isn’t always profitable without a strategy. My honest truth, You can lose so ….
Top Traders on Quotex ++ Earnings And Strategies
Quotex, the most popular trading platform in 2024, has seen a surge in popularity in recent years. With more and more people looking to make a quick buck, it’s no ….
Risk Management: Trading Course for Beginning Quotex Traders
Risk management is an important discipline that traders must understand and implement if they want to protect their capital and improve their potential for profits. In other words, without risk ….
Qx Broker: How to Register with Quotex, Quotex.io in 2024
In order to start trading on the Quotex broker platform, either on the demo or live account, you must create an account. If you are doing this for the first ….
Qx Broker : How to Fund Quotex With Instant EFT in SA
Are you a South African trader looking for a reliable and efficient platform to deposit money and start trading with? Look no further than Quotex! With the addition of the ….
Quotex, Qx Broker 80% Weekend Bonus Promo Code
Welcome to the exciting world of trading! If you’re looking for a reliable and user-friendly trading platform, then look no further than Quotex.io. Qx broker is today giving out trading ….
Quotex Withdrawal Problem? Use This Other Method
Are you looking for a reliable and profitable binary options trading platform? Do you want to join thousands of traders who are making money online with Quotex? If yes, then ….
Quotex Weekly Tournament: Up to $10,000 in Prize Money
Every other month, the Quotex trading platform allows its users to participate in trading contests and earn more money. One such contest or tournament is the Quotex weekly tournament with ….
Quotex Trading Course for Beginners: Market analysis
Once you create a demo account in Quotex to start trading, you will notice that the platform has some type of chart. Generally, trading platforms have 4 different chart types ….
XM Tutorials
How XM Trading Works in Kenya
If you went to Google and searched, “how XM trading works” then chances are, you have never traded before, you don’t have a trading account and most importantly, you want ….
How To Trade With XM Forex.
So, you have just created a trading account in XM Forex and completed the account opening process successfully and now you are wondering, what next? How does Xm trading work? ….
How to Trade on XM Even on Weekends
Trading the financial markets via a broker like XM means getting access to real-time pricing of the financial assets when you want to trade. But, as we all know, the ….
How to Open a Trading Account With XM in Kenya.
If you are reading this post then chances are, you are convinced that Xm is the best broker for retail Forex, both locally and globally. And the truth is, XM ….