Discussion about Olymp Trade

#81
No, dont use it, it's transaction costs are starkly higher than most brokers. I suggest you open up an account with Apex or try use robin hood (app) but I am not sure if robin hood is available for Kenyan citizens to fully utilize
 

Miriraven

Senior Villager
#82
Hello everyone, does Olymp trade deserves trust? I'm looking to start trading, but I need brokerage that provides education as well :)
Hi, do you know something about trading? Did you trade before? OT is good for beginners, at least cause it's focused on education and allows to start with very small account size. I'm trading with this broker, as you see, I'm ok with it so far. Guess its trustworthy enough.

No, dont use it, it's transaction costs are starkly higher than most brokers. I suggest you open up an account with Apex or try use robin hood (app) but I am not sure if robin hood is available for Kenyan citizens to fully utilize
Speaking of trading fees - there is no spread when you trade with OT forex, no additional commisssions. They are definitely not higher than average for the market. Same with payouts for the fixed time trading.
 
#83
And what problems can you note?
I read a lot of positive reviews among the Web, but there is also some negative, so I want to know more before starting trading. Just don't want to waste my time.
I know a lot about trading, I'm reading kenyatalk at least, but I never traded, as I don't have much confidence :(
 

Miriraven

Senior Villager
#84
Problems?
I can't highlight problems, if you mean something that's awful, almost everything is good
I can say that commission instead of spreads may be a little bit confusing, but when you get used to it, you think it's even more convenient.
Also, brokerage is little bit too much adjusted for beginners convenience, but for you that will be more advantagaous.
Olymp has demo, so even if you're afraid of trading real money - you can trade demo and master skills. It just seems to be hard, but it's easier that most people think.
 
#85
SCAM.
Why does everyone who claims success in forex trading make training others for a fee (dollarized, naturally) their primary hussle? Because they've found collecting from fools on the pretext of how complex it is to trade on a derivative of a derivative (!) is much more profitable & do-able than doing the trade themselves, as they are averse to putting their own money on the line in said trade as it's almost always lost.
SCAM.
 
#86
SCAM.
Why does everyone who claims success in forex trading make training others for a fee (dollarized, naturally) their primary hussle? Because they've found collecting from fools on the pretext of how complex it is to trade on a derivative of a derivative (!) is much more profitable & do-able than doing the trade themselves, as they are averse to putting their own money on the line in said trade as it's almost always lost.
SCAM.
I agree that some traders and even big companies/brokers earn a lot from training. I don't think that learning to trade can be very effective. I've heard so many times that its all about experience that you have to get for yourself.
Just a way for brokers to earn easy money.
As for the derivatives we can take this in different ways. On the one hand, the derivatives of a derivatives aren't the best way to trade, I would rather prefer real assets, but CFDs and other instruments allow small traders to trade on the market. First que derivatives trading starts at tens of thousands of dollars and that's too much for small traders. Here, I'm grateful for the opportunity to trade from $10, even if it is derivatives of derivatives.
 
#87
I trained at Olymp Trade and even made +21% on my demo account, but when I started trading with real money, I failed . I made a $30 deposit , but I lost $10 already. For some reason I tend to make reckless trades when trading live. Why didn't I do that with demo? What I've done wrong?
 

Nightworm

Senior Villager
#88
I agree that some traders and even big companies/brokers earn a lot from training. I don't think that learning to trade can be very effective. I've heard so many times that its all about experience that you have to get for yourself.
Just a way for brokers to earn easy money.
As for the derivatives we can take this in different ways. On the one hand, the derivatives of a derivatives aren't the best way to trade, I would rather prefer real assets, but CFDs and other instruments allow small traders to trade on the market. First que derivatives trading starts at tens of thousands of dollars and that's too much for small traders. Here, I'm grateful for the opportunity to trade from $10, even if it is derivatives of derivatives.
I agree that training is not always effective, but still at Olymp Trade it is 100% free. Olymp Trade helps you learn the basic things about trading and it's up to the trader personally. Olymp education boosted my understanding very well and what's more important, speaking of the above comment on reckless trades, it helped me to understand the way how I can become a better trader in a sense of selfdiscipline and emotional control.
 

Miriraven

Senior Villager
#89
I trained at Olymp Trade and even made +21% on my demo account, but when I started trading with real money, I failed . I made a $30 deposit , but I lost $10 already. For some reason I tend to make reckless trades when trading live. Why didn't I do that with demo? What I've done wrong?
Hey, I'm sad to hear that. Don't give up, 20% per month on a demo account is a great result, especially since you've only studied for a month. Emotions are hard to cope with, this is the most difficult part of learning, some traders have been studying for years and still can't cope with emotions.
I can advise you not to trade on a real account yet, but to practice on a demo account.
 

Miriraven

Senior Villager
#91
I think there's a few options here.
1) Trade on a demo account until you realize you are ready for real trading.
2) Trade on a demo account until you double your demo deposit.
The main thing you should understand is that you should have a cold head, this is the key to success.
 
#92
I feel confident in my demo account, but I lose my confidence in real trading. If the first few deals still make sense, the 5+ deal is :eek:
 

Miriraven

Senior Villager
#93
You mean psychological discomfort? How much trades a day you're planning to trade. I think you should made your strategy to fit your psychological comfort. Don't trade more trades than you fill psychologicaly comfortable for you.
 

Miriraven

Senior Villager
#95
I prefer to be more flexible. Usually that's around 5-7 per day, but sometimes reaching up to 10-12, but that's emotionally hard. I can't even imagine how scalpers deal with that. I prefer to stop when I feel that I'm burnt out, than start unprofitable trades when I'm not ready.
 

Nightworm

Senior Villager
#96
I have almost the same opinion - you should trade until it's comfortable for you. I sometimes use Fixed trades, there are delayed orders that help me to plan my trading.
 
#98
I have almost the same opinion - you should trade until it's comfortable for you. I sometimes use Fixed trades, there are delayed orders that help me to plan my trading.
I'm looking to start trading but don't know what's better - start with demo or real trading?
Also, which platform is better, as I understood Olymp Trade has introduced MT5?
 
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Ociethiel

Senior Villager
#99
No. there's MT4, not MT5. But, yes, previously Olymp offered only trading with own trading platform but now you can choose between this two.
 

Dolak

Senior Villager
Look, if you have experience, than of course, there's no need to keep trading with demo account but if you have no trading experience, than better start with demo account to understand the market. I started with Olymp demo and it was easy way to understand the trading.
Also, I suggest you to trade with Olymp Trade platform, it's much better for beginner than trading with MT4, IMHO.
 

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