Olymp trade forex reviews? Any ideas about trading platforms?

37riched

Trader
Dec 26, 2018
117
21
24
32
I’ve been working on some trading strategies for options, but I’m getting a bit tired here and feel I’m stuck. The problem is that options only allow getting a fixed amount of profit when the price movement starts. So looking at most of the instruments I find that the levels for support and resistance that I’ve discovered work actually better and deserve more profit than options trading reward philosophy can provide. So I’m thinking of switching to forex, where I can “let the profits run” according to the good old saying. But I can’t make up my mind about the platform.
Olymp trade forex reviews look nice (regarding the platform at least) but in my opinion it can turn out to be oversimplified. Anyone tried using it? What’s your opinion?
 

Enivid

Administrator
Staff member
Nov 30, 2008
12,070
461
114
Odessa
www.earnforex.com
Why would you go with a generic unregulated Forex broker with a so-so reputation when you could be trading with some regulated broker or, if you really need some features that only offshore brokers offer, some reputable company that is online since 2008-2009 and has a longer track record and experience than Olymp Trade?

Also, when you are talking about options having limited profit potential, this is true only in respect to the binary options, normal (vanilla) options have unlimited profit potential with limited risk. Perhaps, your trading strategy could be better adapted to traditional options than spot trading if it comes from binary options?
 

Helloyees

Trader
Mar 8, 2019
98
7
14
Why would you go with a generic unregulated Forex broker with a so-so reputation when you could be trading with some regulated broker or, if you really need some features that only offshore brokers offer, some reputable company that is online since 2008-2009 and has a longer track record and experience than Olymp Trade?

Also, when you are talking about options having limited profit potential, this is true only in respect to the binary options, normal (vanilla) options have unlimited profit potential with limited risk. Perhaps, your trading strategy could be better adapted to traditional options than spot trading if it comes from binary options?
I think that the main reason that people get stuck with binary options is the entry threshold. In order to trade vanilla options you ideally need at least a thousand dollars to start with.
Why CFDs are so popular? Cause you can start trading them with a couple hundred bucks in your pocket. There are very few people ready to comply with NYSE 25K requirement to daytrade stocks.
Binaries are ok to get started and get acquainted with the markets. Once you learn some chart-reading, you shouldn't have a problem with switching to forex and CFDs as they really do offer some extended opportunities along with a relatively low entry threshold.
 

37riched

Trader
Dec 26, 2018
117
21
24
32
To my regret I really am very limited with initial deposit. To tell the truth I do have doubts that I'm that profound in TA and that sure my strategy will work out fine to risk even one thousand. Couple hundred bucks would be my absolute limit to start with. The point is that I seem to be able to recognize the turning points on the market. These are the points where I expect the price to stop and turn around with a relatively big potential of the move. Correct me if I'm wrong, but spot/forex seems to be more suitable for this approach.
 

Helloyees

Trader
Mar 8, 2019
98
7
14
Sounds like a good idea. Whether you choose Olymp or any other forex brokerage, good luck and trade smart!
 

fxliner

Trader
Oct 19, 2018
44
0
22
49
forexsignal24.com
To be honest, i did not like the idea of options trading at first because it is one of the financial trading types that got some mixed reviews on the internet.



I’ve been working on some trading strategies for options, but I’m getting a bit tired here and feel I’m stuck. The problem is that options only allow getting a fixed amount of profit when the price movement starts. So looking at most of the instruments I find that the levels for support and resistance that I’ve discovered work actually better and deserve more profit than options trading reward philosophy can provide. So I’m thinking of switching to forex, where I can “let the profits run” according to the good old saying. But I can’t make up my mind about the platform.
Olymp trade forex reviews look nice (regarding the platform at least) but in my opinion it can turn out to be oversimplified. Anyone tried using it? What’s your opinion?
 

Wanja

Trader
Dec 15, 2015
89
0
22
23
Olymp trade forex reviews
what is the realtion between the strategies you have been testing and Olymp trade forex. Is this really, a broker and is it regulated, how long have they been in the forex market?