Demo Account: Learn how to invest without risk

Demo trading account - Learn how to invest without risk

October 20, 2023

Find out how to open a risk-free demo account for trading the financial markets. Learn to earn on investments with Olymp Trade, without investing your own funds. Read more.

Learn to earn on investments with Olymp Trade

Olymp Trade is a brokerage company providing access to Forex trading, and has already managed to achieve wide popularity among traders. There are several secrets of its popularity, let's list the main ones:
- perpetual demo account for $10,000;
- unique educational materials;
- availability of a license from FINACOM;
- Membership in FC (Financial Commission).

In terms of trading methods, this broker is not much different from other similar companies. And this means that the method of earning here is the same as that of other brokers. To get profit here, it is enough to correctly predict the movement of the asset in a certain time period. If you cope with this task, you will be able to do it, then you can definitely earn money here, and if not, then you will have to study the training materials on our website. This article provides simple tips for beginners to trade and make money on the Olymp Trade platform. In fact, these tips should be considered with reference to this broker only conditionally, since they are quite suitable for conducting trading operations on other platforms. But still, something can be considered in the context of the Olymp Trade broker.

Read on topic Olymp Trade review.

These tips can be of great benefit to beginners who are just starting their journey along the winding road of online trading.

1. Take a moderate risk management is the cash size of a transaction in relation to the main deposit. Every trader must comply with it, no matter what broker he works with. What should be the size of the bet? All of them agree that the rate should not be higher than 5% of the total capital. Stable earnings in any brokerage company is possible only if all the rules of money management are observed.

Related: Read how to make money on Olymp Trade.

2. Remember that the trading system may stop giving positive results at any time. If it gives positive results for 6 consecutive days, this does not mean at all that on day 7 it will be the same. And one more piece of advice on this matter: do not try to recoup in the event of a failed transaction. It will be better if you stop and start trading only after a day. During this time you need to calm down. And only gamblers in the casino win back. By the way, as a rule, they cannot do this there.

3. Do not look for the magic Grail. The search for magical methods of earning does not lead to anything good. There are many sellers on the Internet who trade in some kind of magical trading strategies that supposedly don't crash. There are sites whose owners conduct brisk trading in "win-win" trading signals. And after all, there are people who buy them. However, having bought such signals once, they will not do this anymore, since there is no sense in them. Sometimes on the forums you can read the posts of beginners, in which they turn to experienced traders to share with them a trading system that brings 90 percent profitability. So, remember that such strategies do not exist in nature. If you don’t want to learn, or you simply don’t have the necessary abilities to do this, do something else, and stop enriching the sellers with any nonsense that they give out as magic tools. Of course, it would be just great to find a way that would bring 90 percent profitability without any problems and stress, but this does not happen.

4. I would like to advise anyone interested in trading in financial markets to start testing strategies, study indicators, look at trading volumes and learn to identify graphic patterns. All this will give decent results, of course, it will not happen right away. And it is better to forget about investing signals and magic strategies once and for all.

5. Do not trade for the last. Some novice traders accumulate funds for a long time, and then put everything on one deal. Others do worse: they take loans for trading. As practice shows, all these people very soon part with their money. They are just very afraid of losing their busy or last money, which is why they start to make a lot of mistakes, missing out on great moments to enter the market. You have probably already heard advice about the fact that you need to trade only for the amount that you will not mind losing. During trading operations, the trader must free himself from the thought that if he loses, he will lose his last savings.

6. Choose a broker carefully. Now it makes sense to appeal to those who work not with Olymp Trade, but with another broker. How do you like the terms of trade? Of course, it cannot be said that Olymp is the only broker whose trading conditions are close to ideal. Although there are not many such brokers, they still exist. But even more all kinds of basement desks, which only collect money from traders, then to evaporate. Work should only be with a large office, which is Olymp Trade. But it’s full of those that either simply do not allow you to earn, or do not withdraw the earned funds. Some brokers cut the percentage of profit. And the reputation of Olymp can be judged by the reviews left by traders on a variety of resources. All of them claim that using this broker you can make good money, and there is never a problem with the withdrawal of earned money in Olymp Trade.

7. Use familiar tools. If you do not fully understand the trading strategy, then using it is highly not recommended. You should know every screw of the mechanism of your trading instrument. On the Olymp Trade platform, strategies that are applied on other platforms may well be used. But to understand the principle of its action is a prerequisite. Perhaps you remember the case with the strategy of pivot points from investing. At one time, it was very popular, but none of the traders who used it really understood what the data of these points are based on. As a result of this, many people lost their money. Some of them then began to write angry reviews about Olymp Trade. And what does it have to do with it, broker, if you use a strategy in which you don’t understand anything? That's why it is recommended that you first engage in a deep study of the strategy and only then can you put it into practice.

8. Choose different assets. Some traders use only currency pairs. Why, some currency pairs, such as the Dollar, are used by the vast majority of traders. Of course, there is nothing wrong with these tools, but Olymp Trade offers a variety of trading tools and Bitcoin. And why don’t you experiment ... If you expand the range of trading instruments, you will very soon realize how much you lost before, because using a variety of assets on the market every day, you can easily find a pronounced trend on the exchange. Technical analysis lends itself not only to currency pairs, but also to other groups of assets, such as futures, stocks, indices, precious metals and manufactured goods. Try to use them, and we can say that after this new horizons will be opened for you. The use of additional assets can be rational also because the percentage of profitability on them is much higher than that of the classic bundles of currency pairs.

9. Learn from trusted teachers only. On the network you can find many various courses offered on a fee basis. It’s better not to buy them. Useful in them - a minimum. By following the link to the official website you can find a lot of educational information, prepared in different formats. Experts note that the training is of sufficient quality and is provided free of charge.

10. Practice. Learning through training, but real practice of online trading demo version without risk is always very important. It is necessary to practice several hours a day. Only in this way you can get the necessary skill in trading. Only daily practice will help identify market traps by eye, the only way you can learn to feel the market. The Olymp Trade website has an excellent risk free demo, you can use it for starters, but then be sure to practice daily trading in real money.

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