Interested in how to get the most out of the market with Olymp Trade? First, it’s important to know what fixed time trading is, then let’s explore how a beginner can become a fixed time trading guru.
- What is fixed time trading?
- Importance of Olymp Trade’s demo account
- What are strategies, and how do you implement them?
Interact with the underlined words and green dots to get additional details and explanations.
Explanations and definitions of terms.
What is fixed time trading?
Fixed time trading, or FTT, is a type of trading where assets are traded within a fixed time range. In that time range, we need to predict whether the asset price will go up or down in the market. So, we mainly need to understand whether the market will be bullish or bearish at that particular time.
Now that you know what FTT is, I’ll discuss why we do it.
There are many types of trading, but FTT is unique, as it gives the trader the option to make a good return on investment (ROI). Return on investment means, if I have invested $100, then in successful trading I get $80 in return, the complete balance will be $180.Typically, ROI from fixed time trading ranges between 80% to 90%.
Here are some points for FTT that every beginner should know before starting.
1️⃣ Time range
As FTT is trading within a limited range of time, we need to decide the trading time when setting up the trade. The minimum trading time is 1 minute, and the maximum is 23 hours. The trade will close at the time specified.
2️⃣ Chart timing
Choosing the Japanese candlestick chart on Olymp Trade, we can see the chart timing options vary from 15 seconds to 1 month, which means if we select a 15-second time frame, each candle expiry will be 15 seconds, and if we choose a 5-minute chart timing, it means the candle expiry is 5 minutes.
3️⃣ Chart preference
For beginners, it’s best to use Japanese candlesticks or Heikin Ashi candlesticks, because they ensure a clearer understanding of the chart.
Now that we have an idea on these, we will need a platform to trade on. So, which platform is best? Easily, Olymp Trade, which gives the beginner every opportunity to both learn and trade. On Olymp Trade, the trader can trade on a variety of assets with a minimum deposit of $10. There are lots of indicators and oscillators, trading ideas and knowledge hubs — all in a single window. Olymp Trade supports all platform devices: iOS, Android and web browser. It has great customer support and allows fast withdrawals.
Now the question comes — how to start FTT on Olymp Trade.
For beginners, it’s important to know the trading platform, how it works and how to implement strategies. So, for this, Olymp Trade has the finest demo trading mode, which a beginner should use before entering the real market.
Importance of Olymp Trade’s demo account
Olymp Trade’s demo account is a real-time account on which the trader can trade real-time assets at no risk. After opening an account, traders are given a demo balance of $10,000, which can be used to practice placing real-time trades and testing strategies.
What are strategies, and how do you implement them?
Strategies are made of various indicators and oscillators to understand the market’s current conditions and whether it will become bullish or bearish. Using strategies makes it easy to place a fixed time trade. The best learning material itself is provided on the OlympTrade platform, educating traders about FTT strategies, which traders can practice on their demo account before placing a real trade with a real account.
Once the basics of FTT and how to use Olymp Trade are clear, the important part comes: How to be an FTT guru.
1️⃣ Money management
Before even starting FTT with a real account, traders must know the rules for money management and how to control the money in their account. This helps with both long-term trading and achieving the trader’s goals.
2️⃣ Risk management
Trading is a risky activity, so the trader has to be patient and manage the risks that inevitably come with it. After learning to follow a robust methodology for managing risk, traders will be one step closer to achieving guru status in fixed time trading.
3️⃣ Following the rules
Some basic trading standards must be adhered to, so that we do not fall where others already have. Every beginner goes through a stage of trial and error, but trading according to established rules of thumb will ensure fewer errors.
Now you have a basic understanding on how a beginner can start fixed time trading. Don’t forget to practice before starting a real account. If you buckle down and put your mind to it, you can become a guru, too.Practice FTT
Risk warning: The contents of this article do not constitute investment advice, and you bear sole responsibility for your trading activity and/or trading results.
When an asset price or the overall market is on an upward trend.
When an asset price or the overall market is on a downward trend.