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How to start trading with platform Olymp Trade

In this article, we talked about the basic techniques of trading in digital contracts and presented a complete picture for a competent start to trade.

Financial market
You have probably heard such a thing as the financial market. It can be described in one phrase: “All the money of the world is here.” When you exchange one currency for another, buy gold jewellery or refuel the car with gasoline, you take an active part in the general turnover.
Assets: how do prices appear?
When you open a trading platform, you will see a window with a chart. It clearly shows how the value of a certain asset changes: goes up and goes down. This price line is formed from quotations – that is, those prices that are offered for a currency or metal in the financial market at the moment. A broker of digital contracts (for example, Olymp Trade) connects to the broadcast channel of actual data through a supplier of quotations so that you get this information on the platform. Different brokerage companies may use the services of different suppliers, and therefore the charts of same assets may differ slightly.
Exchanges and trading sessions
Exchange is the basis of the financial market. These trading platforms located in the USA, Japan, Great Britain, Russia and other large countries of the world and are the main trade organizers. Exchange fixes the cost at which sellers currently offer their goods, and the price at which buyers are willing to buy them. When they agree with each other, a quote will appear which will become part of chart on your computer monitor or smartphone. That is why the most active changes on the platform occur during the hours of work of popular exchanges. These data are opened gradually depending on time zone.
Introduction to the platform interface

When you turn to trading platform, you will see a large window with a price chart. 1. On right is the vertical scale of quotations. 2. In upper left panel, you can select the type of graphics: in form of a line or coloured candlesticks. 3. Next you can select the timeframe for which the chart will be displayed: for the last 10 minutes, last hour or day. In this platform, you can put a line indicator on chart to determine the direction of price movement. And also you can open a separate window for more convenient work.

Types of graphics: lines and candlesticks
The chart is the market impulse. It is made up of prices that change every second and are called quotes. It would seem, why on the platform is represented many different assets, because the graphics look very similar? There is a difference what to trade? Of course, there is, because completely different factors affect every currency pair, every metal and every share. Therefore each asset has its own chart, not like the others. This chart can to display in several ways.
We are trading by trend
Trend is a clear direction of price movement. Each trader must follow the main rule: never trade against the trend (Trend is your friend). The chart can go in three directions: up, down or just sideways. Any indicators (with which you will familiarize further), any strategies, tips and recommendations are everything is aimed at determining this tendency as soon as possible.
Three types of market analysis

How to find out where the chart line will go: up or down? There are three types of market analysis for this. The first one is global is Fundamental analysis. It is based on the news of a particular country and the world as a whole, and also includes political rumours, general moods of traders and comments of important people (for example, heads of central banks). Key events that are scheduled for the week ahead are posted in a special economic. You can find this calendar in the “Analytics” section. If an event is marked with three “bull heads”, then it has a particularly strong influence on a particular currency pair.

Choose the expiration time of deal
The possibility of selecting the expiration time of deal is one of the main advantages of digital contracts over other instruments of trading in the financial market. You choose how many minutes are willing to wait for the result. However, profit or loss directly depends on this decision: more precisely, on the deal result. After all, the price changes every second. Your forecast “HIGHER” may be unjustified after 5 minutes, but it will be profitable after 10 minutes.
Basics of Risk Management
The first rule of risk management: “Do not invest in the transaction more than 5% of the amount on the account!” This is very important. Often beginners put the entire deposit on one option. This is a big mistake. Do not repeat it! For beginners it is optimal to choose small amounts: 50, 100, 200 roubles ($ 1, $ 3, $ 5). If you will hurry to earn a lot at once, then you will not learn how to cope with your psychology and, most likely, you will start to lose money. The market is in no hurry. Several small deals will bring you much more profit than one large. Trade wisely!