Discussion about Olymp Trade

Malataxe

Village Elder
I heard about it a bit later. However, I didn’t try trading this stuff in the long term because by the time I tried it I knew nothing about it. I just traded it as currencies on H1-H4. I managed to earn $77 on two stocks. I bought stocks of Disney and Morgan Stanley. That was a pretty random choice but I conducted technical analysis. It seemed to me that it will grow and it did.
I need to increase my depo to make the most of stock trading. As of now it’s $318. Moreover, I want to learn more about stock trading to do it as it should be. In general, I find it more interesting than currency trading.
 

Lairnetten

Senior Villager
Perhaps, stocks are really universal assets, but I think that there’s no need to hurry up trading this stuff. It’s something I can catch up with at any time. I don’t find them interesting enough. I tried stocks on a demo account. I wanted to compare that stuff with digital coins and it became apparent that cryptos are far more interesting assets to trade.
 

Lairnetten

Senior Villager
That’s true that stocks are less volatile. Cryptos are capable of showing killing moves that can blow your mind, but they are more lucrative as assets, especially if you understand their logic. Of course, it’s not easy to do but I’m sure it’s worth doing.
 

Malataxe

Village Elder
To say the truth, I wanted to buy BTC/USD recently but I missed that opportunity. If I’m not mistaken, it started to grow since September 30. Unfortunately, when I noticed it, it was too late and I’m a kind of person who hates doing things in the very last moment. I was afraid that I could be easily kicked out of the market if I tried opening a trade.
 
I didn’t intend to trade cryptos but someday I wanted to try something new and bought Ethereum on October 1. I closed the trading position on October 3 and it brought me $136. I think I will trade cryptos one more time.
 

Lairnetten

Senior Villager
Don’t be afraid entering the market when trading cryptos. If you are scared, you can spot a good entry point on M15. When cryptos grow, they demonstrate similar patterns. Study their charts attentively and you will notice it.
 

Malataxe

Village Elder
Could you give me a prompt, guys about Bitcoin? I heard one analyst told that once Bitcoin hit 66918, a long-lasting correction wave began. He told that Bitcoin go down, but it’s not going to be a steep tumble. Instead, the expert expects a gradually descending flat movement. So, as I understood his words, he means a descending channel, not very steep. He told that it all may last from half a year to a year and a half.
I’m not an expert in waves, all these A,B,C and anything else related to Elliot, if I’m not mistaken, but I tried to do my best to get into the very essence of his words. I applied Zig Zag on the chart and I think that on D it’s clearly seen that it may be the beginning of a correction. I mean the descending yellow Zag Zag line. What do you think about it?
Zig Zag.jpg
 
I don’t advise you to put too much value on the words of that expert. Today anybody can become a guru of trading, you, I and anybody else. Why not? In the best case he just shared his personal opinion. In the worst case, he wasted our precious time and might have already misled us.
I have been trading cryptos for more than three years and for this time I have seen a lot of mind-blowing moves generated by markete makers. They all were beyond our conventional human logic.
 
Yeah, they are good at this. The only weapon we can use against them is our attention. All you need to do is to open a sell or buy trade ones the price hits a crucial peak or low. From this it can start either a temporary pullback and then proceed with its major move or start a reversal. So, I think that you should have placed at least two sell trades on Bitcoin once it hit 66918. Then, you should have kept an eye open on them. You should have been ready to close one of them soon and remain another open in case it could be a long-lasting reversal.
That guy whom you mentioned could be right about a probable reversal but he may be wrong because tomorrow Musk could give another good kick to Bitcoin with his tweet or China’s major bank could come up with another fierce clampdown on cryptos. God only knows how it all could be, but when you have a system of open trades to timely react to several scenarios and monitor them on a regular basis, the future is not so scary.
As for me, I came here to trade cryptos on M5-M30. I’m going to open a real account soon.
 

Malataxe

Village Elder
Thanks for your prompt reply. I understood your idea of two trades. Unfortunately, for a personal reason, I didn’t have an opportunity to open a sell trade from 66918. I was absent and learned about it later, but I would like to use a system of trades later. Afterall, Olymp encourages it. Fixed amounts and multipliers allow to build an effective trading system built around pending orders.
 

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