Make the most of this beginner-friendly trading mode. Fixed Time Trading (or FTT) is one of the three modes available on Olymp Trade. In this article, we will explore the mechanics and see what free Olymp Trade Fixed Time strategy can be applied to achieve better results.
If you don’t have an account on the Olymp Trade platform, you can create one anytime using this link.
If you are already a client, let’s dive right in.
Olymp Trade Fixed Time in a Nutshell
The idea behind Fixed Time Trades (FTT) is easy to understand, so most beginners use this mode as the first stepping stone to their goals.
The main challenge is to forecast if the price of a chosen asset will move up or down at the end of the pre-defined time frame. If the price moves in the predicted direction, you make a profit.
Example:
You open an FTT trade on Bitcoin (BTC). For starters, you need to decide on the trade amount (e.g., $100) and the time frame (e.g., 5 minutes).
The current price of BTC is your reference point. If Bitcoin rises above this level after 5 minutes, the trade will close with a profit. Simple as that.
As you see, the only thing you have to forecast correctly is the market direction. It doesn’t matter how small or big the price fluctuation is. If it’s favorable, the trade is successful.
Of course, the opposite scenario is also possible. Remember that when you decide on the trade amount.
How to Open a Trade in Fixed Time
Opening a trade in the Olymp Trade Fixed Time Trading mode is easy as you have only a few parameters to set. Just follow the instructions below.
- On Olymp Trade, go to Assets -> Fixed Time
- Select an instrument from the list.
- Enter the desired trade amount.
- Select the desired trade duration.
- Open an UP or DOWN trade depending on your forecast.
The amount of profit you get under a positive scenario depends on the selected asset. You can see the exact percentage next to this asset’s name above the chart. For instance, Bitcoin offers you profitability of 80%, meaning a successful $100 trade will give you a net profit of $80.
You can also cancel an active trade to recover a part of your investment. The recoverable amount depends on how far the price has moved in the wrong direction and how much time is left until the trade expires.
Fixed Time Trade Settings and Tips
Now, let’s zoom in on the Olymp Trade Fixed Time Trading settings and share some useful tips.
- Make sure your trade amount agrees with your risk tolerance.
A general rule of thumb is that it should not exceed 2% of your investment capital. Though FTT mode looks like a simple way to make money, don’t forget that it’s impossible to forecast the price direction with 100% certainty, especially if you deal with a highly volatile asset.
- The recommended time frame for beginners is 5 minutes.
However, you are free to choose any time frame between 1 minute and 23 hours.
- Use Japanese candlesticks or Heikin Ashi candlesticks, as these charts are easier to read, especially for newbies.
- Know your assets.
Choose 1 or 2 assets and get familiar with their behavior. It increases the likelihood that your forecasts will be correct.
The Olymp Trade Strategy for Fixed Time Trading
To improve the accuracy of your forecasts, you should master at least 1 or 2 effective strategies.
There are two popular strategies we would like to highlight here. They are the Relative Strength Law and Sliding on Averages. Both strategies are free for all Olymp Traders including Starters. Let’s see how they work in practice.
The Relative Strength Law (RSL)
RSL is a counter-trend strategy, meaning it helps you make profits on a trend reversal. As the name suggests, the strategy is based on the RSI oscillator that generates two signals – overbought and oversold.
When the RSI line rises above 70, the asset is overbought. It means it’s priced above its true value and may face a downward correction soon. Consider opening a DOWN trade.
When the RSI line moves below 30, it’s a signal that the asset is oversold, and its price may move upwards soon. Consider opening an UP trade.
Tips from pros:
- The trade duration should be equal to the time frame of your chart. The recommended time frame/trade duration is 1 minute.
- Use Japanese Candlesticks for more accurate and timely signals.
- Set the RSI oscillator period at 5.
- It’s best to apply this strategy between 7 am and 5 pm GMT.
Now, let’s look closely at another Olymp Trade strategy for Fixed Time Trading.
Sliding on Averages
The key component of this Olymp Trade Fixed Time strategy is the Simple Moving Average (SMA) indicator. It helps you get a clearer picture of the current price trend and determine entry points. For more accuracy, add 2 SMA indicators set at 4 and 60.
When the SMA (4) crosses the SMA (60) from below, consider opening an UP trade.
When the SMA (4) crosses the SMA (60) from above, consider opening a DOWN trade.
Tips from pros:
- Use contrasting colors for the SMA (4) and SMA (60) indicators as they monitor price changes with different frequencies.
- The recommended chart time frame/trade duration is 1, 10, or 15 minutes.
Fixed Time Trading in Questions & Answers
— What is Olymp Trade Fixed Time Trades?
It’s one of the trading modes available on the platform. Here, your profit or loss depends on if you can correctly forecast the price direction at the end of the specified time frame.
— Can I set any time frame I want?
You can set any time frame from 1 minute to 23 hours.
— What assets are available for Olymp Trade Fixed Time Trades?
The financial instruments available for this mode include currencies, commodities, metals, indices, stocks, cryptocurrencies, ETFs, and composites. The last category includes the Maha Jantar Index and Asia Composite Index, described in detail in this article.
— How much can I earn if my Fixed Time Trade is successful?
Your potential profit depends on the profitability of the chosen asset. It’s indicated next to the asset’s name. For example, if the profitability is 70%, your potential net profit is 70% of your trade amount.
— How can I maximize my profits in this mode?
To increase your profit potential, choose an asset with the highest profitability. The default profitability rate is up to 80%. For a higher percentage, consider upgrading your status to Advanced or Expert.
— How can I reduce the risk of loss in this mode?
As in other modes, never risk an amount you cannot afford to lose. If you doubt the price will end up on the correct side, consider canceling a trade before it expires to recover part of your trade amount. Additionally, if you obtain a risk-free trade, apply it in this mode to recover your investment amount in case of an incorrect forecast.
— What is the best Olymp Trade Fixed Time strategy for newbies?
We recommend starting with the Relative Strength Law and Sliding on Averages. Other beginner-friendly strategies are Bullish & Bearish Engulfing and Reflection.
— Where can I find detailed info on Olymp Trade Fixed Time Trades?
For more details on this and other topics, go to Help Center on the platform.
