25 Tips for Olymp Trade traders Posted on 29.04.201914.10.2020 by goldtrader Fully think about your trading plan before you enter the game. The market is not under your control. The only thing you can control is the entry, exit and volume of transactions. Do not blindly follow the signals, especially if they come from people unknown to you in social networks or instant messengers. If you earned a huge amount of money, drastically changing your life, do nothing for the next 30 days. Trading is not to enter at the minimum, but to exit at the maximum, but to catch the correct direction of the trend. Do not turn a small trade loss into a huge investment loss. Do not set daily profit targets, focus better on long-term performance indicators in achieving your goals. First, understand how to survive, and only then – how to succeed. Trends can go far beyond what seems rational. Do not try to find a market maximum. Until the market shows you that the trend is over. Do not trade on the eve of big and important news – it is impossible to predict the market reaction. In most cases, the key problem for the trader becomes his ego, or the need to always be right. You can lose half of your investment and still remain in the black, if you manage risks correctly. You MUST step on all the rakes. Do not judge yourself strictly when this happens, but try not to repeat your mistakes again. Do not trade for the money you need to stay. This is called “speculative capital” for a reason. Imagine that you are a hunter – save your ammo for the big game. Trading and investing will make you feel fear, greed, insecurity and doubt. The most difficult thing about trading is doing nothing. However, in some cases this is the right step. The psychological aspect of trading is the most difficult to master, this skill is not appreciated by anyone, but it is he who will play a key role in major gains and losses. The three key problems that traders encounter are too active trading, doubts before entering, and premature exit before reaching their goals. You can earn a decent amount of money for one transaction or for a year of hard trading. Do not expect that every day will end on a positive note. Play a long game, be patient and wait for better days. You should not trust someone in trading except yourself. Manage your investments yourself, even at high risk, or do not participate at all. Keep a transaction log and regularly review the results of your work. Be patient. Success comes from hard work. Some traders work without profit for years before finally getting to their feet. Remember that the markets will not run away from you. Trend is your friend. Trade in the direction of the trend – and your profits will grow.