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As said: “The Right Mentor can change your career”
The above quote is 100% true and I can truly say from my experience “In the field of Trading If you don’t find the right mentor you are already failed”.
So, It is very important that you follow the right guide and follow the right strategy that actually works. I personally tested multiple strategies but today the strategy I am going to share with you is my favourite one. You can also consider it my Olymp trade hack or Olymp trade cheats.
Olymp Trade Withdrawal proof: why you should follow my guide?
I have personally been trading in Olymp Trade for the last 4 years now.
So, Yes I am an Experienced Trader and you can Trust me on what I teach.
Given below is my Olymp Trade Withdrawal Proof which I have earned in nearly 14 days.
Olymp Trade Hack: How to hack Olymp Trade?
In this Guide, I will give you my exact Blueprint to earn money via Olymp Trade.
So, Please Follow the exact steps to earn big bucks.
The first step is to Open Your Olymp Trade Account
Our Team Honest Digital Review & Olymp Trade have been a partner since 2018 and now they give a 100% Bonus to our visitors.
But It is to be noted that the Bonus is valid only for 1 hour after opening the account.
So, be ready with your Card and deposit at least $30 in return you will get a $30 additional Bonus.
or, Fill out the form below if you like the quick sign-up method.
Olymp Trade Cheats: How to Win in Olymp Trade?
In this article, I will teach you my favourite Olymp Trade Strategy which helped me make about $1,000.
I bet no one will ever tell you this easiest trick. this trick will really blow your mind.
So, Let’s begin.
Firstly, Switch your default chart to a Japanese Candlestick chart.
If you don’t know, please read this guide first. it will take nearly 10 min to read
Secondly, go to the indicator and press RSI for three times.
Now, click on the pencil icon & change RSI settings to 7, 14,& 21 and change the colour to orange, purple, green and bold it.
That’s it!! the basic setup is over.
How to Use Triple RSI?
Firstly, I would like to clarify Why I used three RSI?
In my previous article, I told How powerful RSI is actually.
Now, It does give great signals when used alone but will give you even better signals when used thrice together.
Now, to How to Use Triple RSI?
It’s damn easy. If all three RSI indicator gives an overbought signal: i.e If the line is above 70 go for SELL Trade.
Similarly, If all three RSI indicator gives an oversold signal: i.e If the line is below 30 go for BUY Trade.
It’s that easy!!!
What is the Overbought Level?
Overbought is a market situation that indicates that the best price level has already been reached.
In simple words, If the line is above 70 it means the market is at the overbought level.
In the Case of the Overbought level, It is always recommended to go for SELL Trade.
Characteristics of Overbought:
At overbought level
- Buyers get excited
- Demand is most probably going to decrease
- Price may decrease
What is Over Sold Level?
Oversold is a market situation that indicates the end of a downtrend or cheap price, therefore, we should always place buy Trade here.
In simple words, If the line is below 30 it means that the market is at the oversold level.
In the Case of the Over Sold level, It is always recommended to go for BUY Trade.
Characteristics of Overbought:
At Oversold level
- Sellers get excited
- Demand is most probably going to increase
- Price may increase.
You must be wondering what about 50 right?
Well, 50 is the most important level actually as per the golden rule of RSI.
If the line is coming from 70 and crosses 50 go for SELL Trade at the short time frame. because the market is very close to the Oversold level and can soon change the trend.
Similarly, If the line is coming from 30 and crosses 50 go for BUY Trade at the short time frame. because the market is very close to the Overbought level and can soon touch it and change the trend.
Combining the indicator with Support and resistance
Triple RSI is one of the best indicators that I have ever seen.
However, If you want to reap the real results from Triple RSI you should use Support & Resistance to confirm your calls.
If you don’t know anything about Support & Resistance. click here.
Let’s check some examples.
Given above is a 1-hour chart and we clearly see that triple rsi shows the overbought level and the candle is near to the resistance level.
So, here we can take SELL Trade.
Given above is a 1-hour chart, Similarly here we can see that the three rsi lines show oversold level and the candle is near to support level.
So, yes here we can take a Buy trade.
Olymp Trade Money Management: Best strategy for Olymp Trade
Following Proper Money Management is very important. as in the field of trading, not all days are good.
Therefore, It is very important to have a good money management strategy.
If you are a beginner. Money Management is a must for you.
The best money management strategy for a beginner is 1% of the Trade lot with 3% of the Total Balance.
In simple words, never place a trade for more than 1% of your account and 3% of the total account balance.
For Example, Rajesh Deposited $100 in the Olymp Trade account and followed my 1 – 3% Strategy.
- When the market was volatile
One day the market was really volatile so, to save his money he decided to take each trade lot for 1% of the Total balance i.e $100 1% lot equals $1 and decided that he will leave the trade for that day if he loses $3 without any profit.
- When the market is really good
Similarly, When the market was really good all his trade was going right. He started increasing his lot size to 3% to 5% i.e equals = $3 – $5. as a result it covered all his previous losses and made his account stand in profit.
If you follow this method Trust me you will stay in the market for a long period and will have a high probability to make a profit.
Homework: Check Your Knowledge
That’s it!!! It’s that easy. Now I will ask you a simple question. answer this. Look at the image below.
Homework: Q.1 Identify which market situation is this.
Q2: Which Trade you should place here?
Q.2 Which Trade should you go for?
Comment below or Send Your answer to this link and I will reply if it is right or wrong. Thank you.
Given below is the list of most asked questions
What is the Formula for RSI?
RSI = 100 -100/1+ RS
RS= Average Gain / Average Loss
To simplify the formula, we can break RSI into two basic components RS, Average Gain, Average Loss.
The Average Gain or loss used in the calculation is the average percentage gain or loss during the lookback period.
The formula uses a positive value for the average loss.
The very first calculation for average gain and average loss are simple 14-period averages.
First average gain: Sum of gain over the past 14 periods / 14
First average loss= Sum of loss over the past 14 periods/ 14
However, the second and subsequent, calculation is based on the prior averages and current gain loss.
Average Gain = (Previous average gain) * 13+ current gain / 14.
Average loss = (Previous average loss ) * 13 + current loss / 14
Which asset is best in Olymp Trade?
If you want to gain high profit you should trade in currencies like GBP USD, EUR USD.
However, these assets are highly volatile and are risky.
If you are looking for less volatile currencies or commodities you should trade in assets like:
- GBP NZD
- EUR CAD,
- EUR AUD,
- commodities like Brent, Natural gas & more
These assets are not very volatile, However, it won’t give you much return but your money will be quite safe.
Is it necessary to follow money management in the Olymp trade?
Money management is an important part of Fixed time trading or Forex education. It helps you become more financially educated and helps you stay in the market for a very long time. Traders usually ask me which is my favourite trading strategy but to be honest. trading strategies are not going to work if you don’t follow a proper money management strategy. there will come a time when the market will be very bad and in that stage money management is the tool that will help you stay for a long.
Is there any risk in the Olymp trade?
Trading is always risky whether you are trading in forex or Indian stocks. However, you can eliminate this risk by activating risk-free trades on Olymp trade. for that, you need to join the Olymp trade VIP account. In case you don’t know about VIP click here.
What are Overbought and Oversold levels?
Overbought and Oversold levels are the price levels that help us to understand the current price situation using these two levels you can easily identify the upcoming trends and reversals. You can identify the Overbought and Oversold levels using the RSI Indicator when the RSI indicator line is below 30 It signals an oversold level and an upcoming bullish trend similarly, when the RSI indicator line is above line 70 It signals an oversold level and an upcoming bearish trend