Thread: Olymp Trade reviews

Originally Posted by Cerdred

Not exactly. I mean, not necessarily you will want to try forex. But most of the options traders I know do find it necessary to switch to forex market at some point of their career development. This is because when trading options your potential gain and loss are limited from the very beginning. As well, you can’t really do much about your open position when trading options. Its very similar to tossing a coin, but with some scientific approach to deciding whether you bet on heads or tails. The commonly known rule every trader knows is “Cut your losses and let your profits run”. It’s only applicable at forex. This is why people tend to quit options for the sake of forex/ETFs trading.

Good point, Cerdred. I only want to clarify, that at Olymp platform with options trading you actually can cut your losses by closing your position prior to expiration time. This is the feature that not so many options brokers offer.

broker selection must also be able to be considered properly, this is needed so that traders can become better and can get more leverage in getting the security and comfort of trading like what I get from Tickmill.

I’ve always thought that expiration for options is the only way to find out what it ended up with. How come that you can cut your losses when trading options?

You can view option not only as a contract, according to which you either lose your stake or double it at certain time. This option is a liquid asset itself. If at a certain time before expiration you decide that something is not going according to your plan, you can sell this contract. The further is the price from option’s winning point, the cheaper it gets.

What a surprising discovery! I got the idea. But I don’t understand how anyone can use this feature with profit. Any ideas?

This feature is not exactly for making profits with. It’s the way to cut your losses when trading options. On the other hand, I've heard of some options strategies when you exploit it. Read it in Olymp Trade’s blog. The point is that you buy two opposite options with same expiration right before some important economic news release. Then you sell one of the options with a small loss once the price starts moving in a certain direction after the news release. Little loss on one of the options + big gain on another one = profit.

every trader must also be able to have a trading plan, a trader can arrange and test his trading plan in an educational program provided by Tickmill, this is done so that the trader can generate maximum profit and can survive on a real account.

Originally Posted by Cerdred

This feature is not exactly for making profits with. It’s the way to cut your losses when trading options. On the other hand, I've heard of some options strategies when you exploit it. Read it in Olymp Trade’s blog. The point is that you buy two opposite options with same expiration right before some important economic news release. Then you sell one of the options with a small loss once the price starts moving in a certain direction after the news release. Little loss on one of the options + big gain on another one = profit.

I've read about this strategy on Olymp's blog. It's called binary gambit. Sounds good on paper. In real life economic news releases may be too stressful to trade.
I've finally opened and funded account at Olymp. Decided to trade options for the beginning. Too early to say whether the broker is OK, it's only been a week since I've started and I only traded 3 days. Not much profit to withdraw yet, lol

Trade with proper trading plan will be very beneficial for the Forex traders. In Forex market place the traders who trade with maintaining proper and effective trading plan, could achieve their success easily. I only work with ForexOne the secured broker. They give latest political news, events, charts, quotes, data, hottest currency news, economic calendar, trade alert and others so that the trader can make their own trading plan completely.

Originally Posted by Mogas

I've read about this strategy on Olymp's blog. It's called binary gambit. Sounds good on paper. In real life economic news releases may be too stressful to trade.
I've finally opened and funded account at Olymp. Decided to trade options for the beginning. Too early to say whether the broker is OK, it's only been a week since I've started and I only traded 3 days. Not much profit to withdraw yet, lol

Congrats! So how is it feeling with real money trading?
Just curious, why you decided to trade options only for now? I thought you were more interested in forex.