Olymp Trade: A Simulator for an Investor

There is a fallacy that it is impossible to feel like a trader without start-up money. They say, one can’t trade Forex, oil, and other assets without real investment.

This is true, but not for the users of the Olymp Trade platform. The company provides all registered customers with a free demo account that simulates the real work in the financial market. A start with a simulator is the key to many traders’ success.

It takes 1 minute to register, and right after signing up, a newly registered trader will see 10,000 units of demo currency on the balance of his training account. This money is not real, it cannot be withdrawn or exchanged for real money, but it can be invested it in trades.

There is no limit to the number of attempts or assets one can trade. You can learn to make money on changes in the cryptocurrency value, indices, commodity and metal prices, currency rates and companies’ stock prices.

Open the first trade

There are two modes of trading on Olymp Trade: options and forex. The first one is perfect for beginners, as soon as there are just three steps the trader should take:

1. Choose an asset to trade. It can be done via the asset menu. There is a percentage indicator that shows the return on an asset at a given time in the “Help” column. This is an exact amount of profit, which each successful trade will bring.

2. Set the trade amount, for example, 100 units. Then specify the time frame of the trade. You will gain profit if the forecast has been fulfilled by the end of the specified period of time.

You can see a 1-minute short trade in the screenshot below. The trader will receive 82% profit (82 units) if the chart gets below the line within 1 minute.

A hack for a trader: note that the chart moves in waves. Every peak is followed by a decline and vice versa. Traders can and should use such patterns, especially when working on a demo account. In our case, a short trade was made after a sharp jump.

3) The trade will open immediately after clicking the green (a forecast for an increase) or red (a forecast for a decline) arrow on the right side of the screen.

Learn how to trade for free

In due course, traders understand that watching the chart does not give good results. That is why the investors study different methods of analyzing the chart in order to make profitable trades more often.

Therefore, you should pay your attention to the indicators—automated mechanisms for analyzing prices. They may suggest when it is time to make a short trade, and when it is better not to trade at all.

The list of most popular indicators include:

The RSI—shows the moments when the asset value unreasonably increases or decreases.

The SMA—gives signals when the trend direction changes.

The Stochastic Oscillator—the indicator is similar to the RSI, but it specifies the time when one should open the trade.

To make it easier to understand how the indicators work and how to forecast prices, visit the Education section. There you can find the best instructions for traders.

Three signs that you are ready for real trading

Start trading on a real account when you feel confident in your abilities. These signs will tell you about it:

• Your demo deposit is constantly increasing.

• You use indicators and other analysis techniques with confidence.

• You are tired of trading on a demo account.

You must take action not to lose your motivation. And now you know where to begin.