1:50 is still good. For bitcoin, it's 1:10 tops. Life is unfair :(((
So what. On crypto-exchanges, there are no leverages at all. That's how it is.
I heard some of the stock exchanges began to lend to their traders. Itâs actually almost the same leverage as in forex. You want to bet, you take out a loan and you get a leverage trade.
Which exchanges can lend you money, if itâs not a secret? Depending on the conditions, I would agree to trade on the stock exchange. Itâs full of different currencies, which means more opportunitiesâŚ
Check bitfinex, and if you are l ok with investing 10,000 USD to start trading, then maybe youâll get the loan. In fact, there is no actual mechanism to offer the leverage on the exchange. You can make a loan and use borrowed funds while paying interest. The interest is small, but loans are limited. Last time I saw two loans at 1,500 and 3,000 dollars. No, itâs definitely not a leverage. Maybe over time, this service will be improved, but for now, to say frankly, the conditions are so-so.
I think that working on a crypto exchange is preferable as well. I heard somewhere that now there are almost a thousand different coins, and there are only 10 on Olymp. Isnât it funny?))
I will add even more. According to coinmarketcap, there are over 2000 cryptocurrencies. Yes, there are not many assets on Olymp, however if you count, the capitalization of one bitcoin is more than half of the total crypto-market. Next, bitcoin cash, monero, dash, litecoin, zcash, ethereum and so on â Olymp has the most popular and demanded cryptocurrencies.
And what is the value of capitalization? On the exchange, you can buy about ten different coins of 1000 pieces each and in a year or two their price will increase significantly.
Right. Moreover, investments will be minimal. Some coins cost less than one cent.
Long-term investment is a good thing. But where is the guarantee that cryptocurrency will grow? The lionâs share of all coins is nothing. I remember the case when the Kanye West cryptocurrency appeared in 2014. And where is it now? But this is not important. On Olymp, itâs real to double the deposit in 5-10 minutes. Why wait for the result for years?
Doubling the deposit is risky))) I do not recommend it, but generally I agree. Even if you do not take into account options that are not only risky, but even prohibited in some places, you can also double the rate on forex. The main thing is to match the conditions correctly.
You simply need to understand the difference between crypto exchanges and platforms for internet trading. Olymp Trade â this is a platform for internet-trading and itâs intended for opening short-term deals and make money even on not significant prices volatility. And we are not talking about doubling the deposit â this is definitely very risky and against the money management rules. But even 20% monthly profit on trading â this is a very good result and pretty real here.
Cryptocurrency is not the main asset. Here at the first place is trading with fiat currency pairs. However, if you have short term ideas for bitcoins and main altcoins, you can put them into life here by the means of leverage and also make some money. And crypto exchanges â these are the platforms for buying cryptocurrencies in long-term like the investment or to sell the tokens, which may not be interesting for you as an asset. Speculative profit possible. But to make 20% monthly, you will have to trade very actively (even using leverage on the crypto exchange).
I would say that even 10% a month is absolutely fantastic if you have a deposit of $10 000+. The problem is that most people trading with online brokers fund their account with very modest deposits of under $500 and still want to get a three digit numbered profit monthly. Not that the mission is impossible to complete, but miracles do not happen. The higher is the profit you wanna get, the higher is the risk you put you deposit under. Continuing the logic chain, if you want to be gaining 50-100% monthly, be prepared that very soon a bad month with dissolve all your money in the market ocean. YOu can be lucky enough and get some money first, but a significant failure is inevitable in a long-term scope. So youâve got to decide what trading means for you. Is it a sprint or a marathon?
Well said! If you wanna grab some money quickly, then go ahead, and put half of your deposit at risk with a single trade. But if trading is your profession, then save the energy, minimize risks, get ready for a marathon!
Exactly! Lots of people in 2018 got used to 100% monthly yields on cryptocurrencies investments. Unfortunately, for many of them this was the start of their trading career. So doubling the account size every month is something they consider to be normal. They left cryptocurrency exchanges looking for alternative, found Olymp Trade or some other exchange. I feel sorry for those of them who continue their trading with the same attitude with their new brokers. The only way for them to meet these expectations nowadays is gambling. But we all know what gambling ends up with in 100% cases. Olymp trade or other brokers wonât guarantee you success, you have to make you own decisions. Broker can only provide the instruments for trading.
In fact, out of curiosity Iâve opened an account at Olymp and invested $50 into this experiment to see what they offer. I do not recommend everyone to do so, but I did have some spare time recently so here are the results.
As I said before Olymp is really intended for daytraders. You can open overnight positions at their forex platform, but options work with 24 hours expiration at max.
For two week from time to time I would glance at the platform and see if there is anything interesting going on at the markets that I could make use of. I didnât go for minimum expiration time options. I used one hour timing which I find more or less reasonable.
In two weeks Iâve managed to do 34 trades with the total profit of $21. Almost 50% return in two weeks seems to be amazing at first glance but I was risking 3$ in each trade with is far above suggested reasonable risk per trade. Iâve just ordered the money withdrawal so we will see how it goes.
Good thinking! If you are not sure of something, just go ahead and test it. Love this approach!
Please let us know how it goes with the money withdrawals.
Sure! The money arrived Monday morning, so keep in mind that over-weekend transactions might get delayed a bit. Otherwise all is correct to my surprise. The money is here, no fees on Olympâs side for withdrawal. To tell the truth I was well-prepared to saying good buy to my $50, but here they are and I still have $21 of pure profits at Olymp to keep on with their options trading. Amazing, but true.