Key Takeaways🔑
| →Olymp Trade platform’s settings are customizable to fit the user’s trading needs. |
| →Accessible settings include language, sound, color theme, and trading options like 1-click trade and pending trades. |
| →Adjusting these settings can streamline the trading experience based on personal strategies and preferences. |
Contents
Settings for the Olymp Trade platform
There is always a way to customize some settings of the trading platform you are using so it suits best your needs. To access the settings section you press the settings icon at the bottom, on the left side of the interface.
You have the possibility to modify the following features:
- Language of the platform.
- The sound. You can turn on or off the sound on the platform.
- Colour theme. You get two choices here. It can be either dark or light. Whatever is more transparent for you.
- 1-click trade. If this window is marked, the position you decided to open will be entered without further confirmation.
- 1-click closing. Analogically, you can close and sell trades with just one click.
- Pending trades. If you are interested in ordering pending trades it would be a good idea to display this on the chart.
- Multiplies. This function is applied when you choose currency trading. If the box is checked you will see the multiplier editor on the chart.
- Take profit and stop loss. Again, this will display corresponding editors on the panel of the platform while trading currencies.
Apart from the main settings you have a few chart settings to modify. Generally, you get to choose if you wish some features to be displayed on the platform interface or not.
- Strike prices. If you select this field strike price will be displayed on the chart.
- Indicators. If this box is unchecked you will not see the indicators feature icon on the chart.
- Chart types. Similarly, you may choose if you want the chart types of icons to be displayed.
Changing settings is available to make your life as a trader easier. It all depends on your preferences, what kind of trader you are, what strategies you choose, and so on. If, for instance, you trade price action, you can adjust the chart to your needs by removing all unnecessary icons so the chart is clear and transparent.
Do not be afraid to play a little with settings. Try this and that so you will eventually know, what works best for you.
Good luck!
Pros and Cons of Customizing Olymp Trade Platform Settings👍👎
Pros:
- 🎯 Personalization: Customize the platform to your liking and trading style.
- 🚀 Efficiency: Speed up your trading actions with features like 1-click trade.
- 💡 Clarity: Remove unnecessary features for a cleaner and clearer chart view.
Cons:
- ⏳ Takes Time: It might take some time to discover and adjust optimal settings for your needs.
- 🔀 Complexity: Some traders might find the variety of settings overwhelming.
- ⚠️ Risk of Mistakes: Wrong settings can lead to trading errors, like accidental trade closures.
| Setting Features | Benefits |
|---|---|
| 1-Click Trade | Allows quick execution of trades without confirmation prompts. |
| Color Theme | Customize the visual presentation for a more comfortable trading experience. |
| Take Profit and Stop Loss | Facilitates risk management by automatically closing trades at predetermined levels. |
Q&A Regarding Olymp Trade Platform Settings🎯
- Q: What is the benefit of using the 1-click trade feature?
- A: The 1-click trade feature allows swift trade execution without additional confirmation, saving you crucial time.
- Q: How can I change the color theme on the Olymp Trade platform?
- A: You can change the color theme under the main settings of the platform, choosing between a light or dark theme.
- Q: What are ‘Take Profit’ and ‘Stop Loss’ settings for?
- A: These settings automatically close a trade when it reaches a certain profit level (Take Profit) or loss level (Stop Loss), helping manage risk.
- Q: Can I switch off the sound on the platform?
- A: Yes, the platform allows you to turn the sound on or off according to your preference.
- Q: What does the ‘Pending Trades’ feature do?
- A: The ‘Pending Trades’ feature allows you to schedule trades to be executed when certain market conditions are met.