Global trends affect currency rates, the price for precious metals, and other valuable assets. In the past, only professional traders could keep track of market trends. Now, thanks to the digital revolution, tracking the quotes can also be an interesting and profitable hobby for practically anyone.
The choice of the platform
The days of trading at the exchange trading halls are almost gone. Now, investors buy and sell financial instruments directly from their smartphone or computer.
For this reason, you should choose an online platform where you can start your career. In the first instance, you should pay your attention only to the projects with a simple and intuitive interface.
Olymp Trade is a trading platform that fully complies with this requirement. The company has been operating since 2014, and it has become one of the most popular sites for trading in financial markets due to its simplicity as well as its other perks. There are official apps available for iOs and Android devices.
You get access to the platform workspace after a quick registration.
You can see an asset chart in the screenshot. The selected currency pair is EUR/JPY, which shows the value of 1 euro against the Japanese yen. On the right, there is a trade menu, where we specify the investment amount and other conditions.
You can trade in two modes on Olymp Trade: Forex and Options. If you trade Forex, you make trades with no time limit, and their financial results will depend on how much the asset has become cheaper or more expensive.
For example, if you have an optimistic projection for Britain, you can buy the GBP/USD currency pair (pound sterling against the US dollar). The higher the pair rises, the more money you make. And to earn a lot, traders use a financial multiplier, which increases the investment amount up to 200 times!
The Option mode can be characterized by speed and simplicity. When trading options, you can predict the price change for as long as 1 minute and receive up to 100% profit from the investment.
Let’s say you are sure that the gold price is about to rise. This idea is relevant again, as the world is on the verge of a trade war. As for the options, your confidence can be limited to just 60 seconds.
To make money on the idea, just open a short position: enter the investment amount, select 1 minute as a time frame and click the UP button. You will know the return on the correct forecast before making a trade. In most cases, it is 70% to 80%. If the gold price has risen by the expiration of the period of time you had specified, your profit will be credited to your account.
A risk-free start
Every trader needs to train before working with real money. That is why Olymp Trade has a demo account, which is available to all the company customers. It can be refunded with demo units an unlimited number of times if your first demo trades are not successful.
The main advantage of the training account is that it simulates real trading. You see the same quotes as people around the world. Making trades and closing them is also based on the real market quotes.
When trading on a demo account, a trader can also use the company’s training materials as well as indicators – special tools for trading.
Indicators and training
Technical analysis indicators are one of the ways to predict changes in the asset prices. Each indicator is a ready-made algorithm that is built in a visual form. They are designed to help traders find right moments for making profitable trades.
Users of the Olymp Trade platform can access more than 20 indicators, as well as special graphical tools: Fibonacci levels, Fibonacci fan and lines for technical analysis.
For example, the RSI indicator helps one find a trend reversal. It looks like a regular chart but its line can get into a zone above the 70 level (sell signal) or below the 30 level (buy signal).
You can see the chart growing after the RSI line falls below the level 30 (the first rectangle). We almost immediately received the second signal (the second rectangle), which is a sell one.
Other indicators also do their job well but you need to understand how they work to start using them. A full list of automated assistants is available by clicking on the compass icon in the upper left corner.
You will find everything you may need for training in the Education section on the company’s website. There are step-by-step instructions on the basics of trading as well as more advanced recommendations.
The company’s analysts have also conducted a large number of educating and practical webinars. The video records of these events will help you quickly dive into different ways to predict prices and learn from the experience of successful traders.
Summing up, we can say with confidence that people do not need to be born in rich families, graduate from the world’s top universities, and gain experience in banks to earn money in financial markets. To start a career in trading, you will need to sign up for Olymp Trade, gain experience in trading using a demo account and choose any instruction for forecasting prices directly on the company’s website.
And you can start earning after you first deposit your live trading account with real money. The minimum deposit on Olymp Trade is only $10.
If you have any questions, the technical support service specialists will be happy to answer them 24 hours a day, 7 days a week. (Sponsored Post)