Kerazan Posted September 28, 2019 Share Posted September 28, 2019 I’m a bit too incompetent in technical analysis, unfortunately to be able to appreciate all the pros of Olymp trading platform. I do need to understand how these indicators work, for sure, but I’ve got some other problems to deal with currently. Hope you can help me with the following. When I open positions at Olymp, is there a chance I can do so not at the current price, but at the desired one, when and if price comes there? Link to comment Share on other sites More sharing options...
7bledin Posted September 29, 2019 Share Posted September 29, 2019 Sure enough! It is called limit order type. At Olymp platform you’ve got to go to the settings and check the “pending trades” box. Then, when you click “order” on the right you will see two options: trade opening at a specific price and trade opening at a specific time.Simply enter the needed value and there you are! Link to comment Share on other sites More sharing options...
Kerazan Posted September 30, 2019 Share Posted September 30, 2019 Thanks. Firstly I thought it`' exactly what I searched... but I have to make some deals to be sure. I will let you know once I will check... Link to comment Share on other sites More sharing options...
Kataxe Posted September 30, 2019 Share Posted September 30, 2019 On 9/29/2019 at 12:17 AM, Kerazan said: I do need to understand how these indicators work, for sure I won’t be so sure if I wore your shoes. At the very beginning indicators can distract your attention from things that are much more important (like support and resistance levels). So if you want my advice, don’t even bother about them. Simply pay more attention to identifying the trend and flat on the chart, how to spot major levels of support and resistance. That’s enough to start with. Link to comment Share on other sites More sharing options...
Fegore Posted October 27, 2019 Share Posted October 27, 2019 On 9/30/2019 at 1:44 PM, Kerazan said: Thanks. Firstly I thought it`' exactly what I searched... but I have to make some deals to be sure. I will let you know once I will check... Did you find out how to apply these pending orders for Olymp’s options trading? I don’t think these orders were invented for no reason, but I’m a bit confused here. I can more or less understand how to apply pending order by price, but what is the use of time-based pending orders? Link to comment Share on other sites More sharing options...
Kerazan Posted October 28, 2019 Share Posted October 28, 2019 Exactly! If you are sure enough that some support or resistance horizontal level should work fine at a certain price, you can use this knowledge to apply pending by price order, so that you buy an “up” option once price reaches support level, not earlier than that. But why would anyone dare predicting where the price will go at certain time? Like the price wakes up at a certain time and thinks: “oh well, 6 o’clock! Shouldn’t I go visit my friends on the upper floor, they were supposed to have a pizza party there?” Link to comment Share on other sites More sharing options...
Fegore Posted October 29, 2019 Share Posted October 29, 2019 Ahahah, yes! Exactly! First I was thinking that this can somehow relate to economic news releases. But economic news are unpredictable, which makes no sense guessing about the price direction at this certain time particularly. There must be some other explanation of these time-based orders. Link to comment Share on other sites More sharing options...
7bledin Posted October 30, 2019 Share Posted October 30, 2019 This is rather difficult to explain, but once you gain some experience in options trading, you’ll understand how to use this feature. I can only explain how I use it personally, but I am absolutely sure that time-based pending orders are not limited to this approach. Ok, here is another holy grail that I’m generous today to share. Let’s say we are trading SnP500 index. If you watch it carefully, you might notice that very often price reversals happen there exactly at 8AM CST. This is probably caused by futures market opening. Very often market starts moving in a certain direction prior to 8AM. Price grows and grows for example. By 6-7AM it got very high since the start of the day (since midnight). In this case if you think that the trend will continue, you can be more or less sure that before it continues, the price will be pushed down around 7-8AM so that at 8AM more buyers (smart money) can buy more of the index at a lower price and only after that SnP will again start moving up. Sounds like a conspiracy theory, lol, but once you watch markets long enough, you’ll also start seeing more opportunities like these. Anyway, going back to Olymp options. If I expect that the price won’t move far up before 8AM and most likely it will stop at certain support (I’m not sure how low it will go before it finds such a support), I can buy a pending BUY option at Olymp with the time set to 8AM or 8:05AM. I have to warn you though that this is not an everyday strategy. It all depends on the market overall context.This strategy I use in less than 10% of my trades, but this is a profitable one. I win 70-80% of times when applying it. Link to comment Share on other sites More sharing options...
Fegore Posted October 31, 2019 Share Posted October 31, 2019 Thank you for sharing! Looks like Olymp knew what they were doing when they offered pending by time orders. This is one-of-a-kind feature and looks like only Olymp offers it among options brokerages. Once you’ve explained one of the possible strategies, new ideas on how to use these time-based orders started raising in my mind. Link to comment Share on other sites More sharing options...
Kataxe Posted November 19, 2019 Share Posted November 19, 2019 On 10/30/2019 at 1:13 AM, Fegore said: Ahahah, yes! Exactly! First I was thinking that this can somehow relate to economic news releases. But economic news are unpredictable, which makes no sense guessing about the price direction at this certain time particularly. There must be some other explanation of these time-based orders. After reading this discussion, I can't miss the chance to promote systematic trading once again. To my sincere surprise, this Olymp Trade's platform features of pending-by-time orders seemed to be so handy to trade one of the setups for options trading, that I felt obliged to open an account there. Demo account to start with, but if in the meanwhile the strategy proves to work out well, I will definitely go for options trading with Olymp too. So here is how else you can use this order type. At the moment when major economic news release is scheduled for you must open two opposite trades on the same asset. Once price starts moving (based on the numbers provided in the news release), you must close the losing trade with some loss and leave the winning trade to cover that small loss and get a full profit on this winning option. Link to comment Share on other sites More sharing options...
Fegore Posted November 20, 2019 Share Posted November 20, 2019 Its really hard to open two options simultaneously manually. This is when pending-by-time orders can help indeed. Good point! So how is it going so far on demo account? Link to comment Share on other sites More sharing options...
Kerazan Posted November 22, 2019 Share Posted November 22, 2019 On 11/19/2019 at 6:28 PM, Kataxe said: After reading this discussion, I can't miss the chance to promote systematic trading once again. To my sincere surprise, this Olymp Trade's platform features of pending-by-time orders seemed to be so handy to trade one of the setups for options trading, that I felt obliged to open an account there. Demo account to start with, but if in the meanwhile the strategy proves to work out well, I will definitely go for options trading with Olymp too. So here is how else you can use this order type. At the moment when major economic news release is scheduled for you must open two opposite trades on the same asset. Once price starts moving (based on the numbers provided in the news release), you must close the losing trade with some loss and leave the winning trade to cover that small loss and get a full profit on this winning option. Excellent idea! But I thought you trade forex, don't you? Link to comment Share on other sites More sharing options...
Kataxe Posted November 26, 2019 Share Posted November 26, 2019 Thanks, so far the idea turns out to work out ever so well! I've done about a dozen trades already and the profitability rate is awesome! There are certain difficulties with this approach, but you'll see for yourself if you dare trying. Its true that I trade forex with the other brokerage and I love my levels of support and resistance :) But I also know that it's nice to diversify risk by using different strategies and different brokers. Overall, you never know... Link to comment Share on other sites More sharing options...
Kerazan Posted November 28, 2019 Share Posted November 28, 2019 True, you never know. Even the fact that the company has been working for ages with no issues does not mean that one day it can not collapse. Remember Lehman Brothers bank in 2008? I this its good that Olymp is covered with clients' funds protection program of FinaCom. This probably was the main reason why I chose this particular brokerage. Link to comment Share on other sites More sharing options...
Kelelis Posted December 18, 2019 Share Posted December 18, 2019 Guys, you've been discussing some interesting strategies here. Today I've registered a demo account with Olymp Trade to test them myself. But you were saying the platform has got both forex and options trading setups. I've found an explanation where to switch between these two options (Menu in the upper left corner, then Go to Forex. But it is not there in the Menu. I suspect this is a limitation of demo account. Am I right? Link to comment Share on other sites More sharing options...
7bledin Posted December 21, 2019 Share Posted December 21, 2019 I've got a verified account, so not sure completely if demo has got the same interface, I'm pretty sure it has. Few weeks ago Olymp Trade has updated the platform, so right now you can switch between options and forex in the asset menu. Here u go: Link to comment Share on other sites More sharing options...
Kelelis Posted December 26, 2019 Share Posted December 26, 2019 Got it, thanks. Forgot to say I've found this already. Busy time of year 🙂 Anyway, hope they let users know when they make such changes. I'm a bit conservative and hate to see some changes without being aware of them happening. Link to comment Share on other sites More sharing options...
Kerazan Posted January 7, 2020 Share Posted January 7, 2020 Nice to see I'm no longer the newest nube here :) no offence, just kidding. Olymp really does change the platform from time to time. You can always find the updates in the Help section. There is a bell in the fall out menu there called What's new? There you can learn not only about the platform itself, but see if they've added some new assets or have got some new tools. Just examined the history of updates there before writing this post. impressive list! Link to comment Share on other sites More sharing options...
Kelelis Posted January 10, 2020 Share Posted January 10, 2020 Yep, an impressive list. I've heard many people people that Olymp's platform is very easy to start trading with. So called user-friendly interface. I'm not that sure of it personally. There are quite a lot features and its rather difficult to go through all of them. Link to comment Share on other sites More sharing options...
7bledin Posted January 15, 2020 Share Posted January 15, 2020 I understand what you are saying. Yes, the company is growing and adding new features makes the system making it a bit more complicated. Some people would prefer to have just two buttons BUY and SELL in the middle of the screen. But this is non-professional approach. We need tools to work more effectively. . I myself didn't know that Olymp can do automated trailing stops until not long ago. I participated in the tournament and one of the daily tasks was something like "complete x forex trades using trailing stop". I was like What? why didn't you tell me before you've got this tool! But it is not even available on demo. I think this is because they try to keep this balance between simplicity and effectiveness, so they open more tools for more professional traders. Link to comment Share on other sites More sharing options...
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