4 possible ways of losing money on Olymp Trade

You always need to have a strategy
You always need to have a strategy


Not having a clear strategy

You need to have a good strategy to avoid losing. In fact, you can call it a must when it comes to trading. What will make an excellent tactic? A powerful methodology, specified trading time, and tips on how to manage your capital. All this together will create an effective strategy.

If you experience losses constantly, you probably did not work enough on your strategy. Or maybe you even do not have one? Our methods are designed to ensure smooth trading and minimize losses.

You might notice going through our articles about strategies on the Olymp Trade Wiki website, that we have a strong focus on specifics. In the strategy, there should be included specific trading instruments, specific capital management rules, and specific trading times.

ways to lose your money

Only then you can design a good tactic that will take you to the forefront. Otherwise, your trading career could end up fast, with big regrets and no money in the pocket.

Not being in control of the emotions

Emotions are an inseparable companion of man. And there is nothing uncommon in feeling fear when trading. But the trader needs to be aware of the emotions’ presence and gain control over them.

In case of being afraid all the time when making trading decisions, a keyword for you is patience. Keep calm, do not rush into trades, stick to the rules in your plan. A good plan is what can save your trading and your money. Plan the trade and trade the plan!

Emotions can ruin even good strategy
Emotions can ruin even a good strategy

Here we prepared a set of rules to help you keep the emotions in check:

  • Make no more than $100 per day. After you make such a profit, turn of the real account and go to the practice one if you still feel like trading.
  • Do not open 1-minute trades.
  • Have a good strategy. Any decent tactic will work at Olymp Trade.
  • Apply any compatible strategy that will protect your account balance.

The tips in this article aimed at helping you in being in control of your actions. And not only while trading at Olymp Trade but in other daily routines as well.

Not believing sufficiently

It is normal to lose some money while trading. You shouldn’t dwell on this for too long, though.

Maybe, you are well educated and have huge knowledge about markets and technical analysis. Still, you may lose money. Commonly, someone knows a lot, but lack of confidence makes him not a very good trader. Trading experience also matters. You can have a really good strategy, but to be able to pull the trigger when expected market conditions occur you need to practice it.

Trading knowledge is the key to success
Trading knowledge is the key to success

You may discover that there is nothing strange in one week returns between $300 and $400 with an initial fund of $1,000. However, don’t be greedy from the beginning. Start small, invest just a few hundred, and see how it will go. Deepen your knowledge and improve your skills.

Is it your broker who makes you lose your trade?

There are many stories about unfair brokers’ behavior. There are many brokers with a bad reputation. Some of them can manipulate the prices, others can lock your withdrawal. You can read about some bad practices in our article. Is that the case when you use Olymp Trade? It shouldn’t be. But of course, you always need to follow your transactions, check if prices are correct. And if something will go wrong or you will find some suspicious platform behavior you have full right to react and ask for explanations.

If something goes wrong, take a screenshot to have a proof
If something goes wrong, take a screenshot to have a proof

The moment you detect something like this, we recommend that you take a picture, send an email, and wait for the right explanation. Your broker will have no other solution like to repay your loss completely.

Good luck!

Why You Might Want to Avoid 1 Minute Trades at Olymp Trade?

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Bart Bregman

Full time day trading, and helping out with Olymp Trade wiki in my spare time to create an awesome platform for beginners. I'm a digital nomad that travels the world while working from everywhere!

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