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Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Tue Oct 22, 2019 6:54 pm

Hello everyone!

Bitcoin recently has finally left the range of 9500 - 10500. Bitcoin hodlers are panicing. OK, I am panicing a bit here. I bought it around $2500 with the hope to retire in the age of 50 with the help of this investment. There are many support levels ahead. 7900, 5900? Heck yeah, 4000 for sure! Alright, may be 2950. But Im still very nervouis losing money and watching as they melt like Gretta's icebergs.

The problem is that no one really knows!!!

More than that, I did not forget the main rule that all of us, investors, swing traders, even scalpers know. Trend is your friend. Isn’t it yet carved with golden letters on the wall in front of your computer? SO Im not so sure any more that trend is up for bitcoin.

Once again. What to do with the current situation on the market?

As an investor, I know I can try hedging my position at some exchange that allows short positions. Leverage can be the solution to the problem of not having much spare cash to open short positions. It might take time until trend is again for sure up. I've heard Olymp trade forex platform allows selling crypt with leverage.

But before I do this hedging I wanted to find out your opinion: do you find this a sound idea? What are the pitfalls here?
Thank you in advance for your recommendations!

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Tacage
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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Wed Nov 20, 2019 7:25 pm

Hey, man. Just dropped in to wish you good luck with your hedge. Myself don't want to create much more panic here, but if Bitcoin manages to squeeze down through 7700, you will be glad you did something to protect your investments.
The problem with your hedge can be that broker will charge a fortune for providing leverage and holding your position overnight.
Myself, I'm just trying to make a nice collection of the most promising altcoins to live through the upcoming Armageddon.

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Tue Nov 26, 2019 7:57 pm

Thanks for your opinion. No, Olymp does not charge a fotrune for leverage, but for sure there are overnight fees. I've sold Bitcoin at their forex platfrom with no stop at 9555 and later placed the stop at breakeven. To tell the truth, I really want to get this 0 profit at Olymp, cause that would mean we still can hope for new highs. Charts don't look too optimistic so far (( so I'm glad I've hedged my long position.

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Fri Nov 29, 2019 3:42 pm

That was an excellent idea! The only thing I don't like about it is that you've got to lock some money at some brokerage account to go short. I've looked at some forex and CFD brokerages and they normally have at least $200-500 initial deposit requirement. If Olymp has got better conditions and you have some valid reasons to trust them your savings, it might be worth it.

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Fri Dec 20, 2019 9:11 pm

You tell me! The idea was genius! To tell the truth I've done a little mistake in my calculations. I didn't really realize that every night the broker will be taking a small fee. So all is good with long-term investments, but when the asset is in the range, you'll be bleeding your deposit a bit. After I realized that and saw this nice up move on dec 18th, I decided to fix the profits I've got from $9500 sell. Have withdrawn the profits already, cause don't trust any brokerage 100%. Worked out fine. It was a nice trade that soothed my pain about BTC downtrend a bit. Broker has got it's commissions, I've got my profits withdrawn. Everyone's happy.
At the moment I once again crossed my fingers and glued them that way, cause I really hope this is the end of the drop. Sellers don't seem to have that much power anymore. Too early to drive more conclusions though. In case the price once again makes a new low, I'll consider one more short trade to hedge.

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Thu Dec 26, 2019 8:38 pm

Glad to hear your short not only worked out fine, but was withdrawn alright. To tell the truth I worried a bit about this part. Anyway, it looks like you know what you're doing and I completely agree with your view on situation. Good luck and keep us posted! Watching someone's long-term trades is no less interesting than HBO series.

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Sun Dec 29, 2019 8:51 pm

I agree, I'd love to see some updates on your story with hedging your bitcoin long. People often share most successful trades and this is difficult to see the logic in these screenshots as they only show the sunny side of it. Your situation is quite curious as the profit on one position will inevitably lead to loss on another one. So this is a nice example of how one can stay sober minded under pressure and do something apart from waiting for ages and watching how profits melt. I'd also like to ask about this brokerage that you use. Do they work with other cryptocurrencies or only have bitcoin? Didn't you think you could day trade using your technical analysis skills?

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Fri Jan 10, 2020 9:09 pm

You tell me! The idea was genius! To tell the truth I've done a little mistake in my calculations. I didn't really realize that every night the broker will be taking a small fee. So all is good with long-term investments, but when the asset is in the range, you'll be bleeding your deposit a bit. After I realized that and saw this nice up move on dec 18th, I decided to fix the profits I've got from $9500 sell. Have withdrawn the profits already, cause don't trust any brokerage 100%. Worked out fine. It was a nice trade that soothed my pain about BTC downtrend a bit. Broker has got it's commissions, I've got my profits withdrawn. Everyone's happy.
At the moment I once again crossed my fingers and glued them that way, cause I really hope this is the end of the drop. Sellers don't seem to have that much power anymore. Too early to drive more conclusions though. In case the price once again makes a new low, I'll consider one more short trade to hedge.
Thanks, I'm glad you've enjoyed the "show". Olymp has got about a dozen of most popular crypto assets. Some Cross crypto currencies like LTCBTC or ETHBTC as well. Frankly speaking there is a huge temptation to start daytrading. Since my last post and exit of BTC short, bitcoin gained over 1K and when I think of the missed profits that I could have had if flipped positions at Olymp Trade instead of just closing it, my eyes start watering. But I don't really have much time to trade actively. This is why Ive stated investing. Probably I could consider trading mid-term with Olymp. If you use 4H and daily charts here with corresponding targets, the overnight commissions don't seem to be that big.

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Tue Jan 14, 2020 11:08 pm

You tell me! The idea was genius! To tell the truth I've done a little mistake in my calculations. I didn't really realize that every night the broker will be taking a small fee. So all is good with long-term investments, but when the asset is in the range, you'll be bleeding your deposit a bit. After I realized that and saw this nice up move on dec 18th, I decided to fix the profits I've got from $9500 sell. Have withdrawn the profits already, cause don't trust any brokerage 100%. Worked out fine. It was a nice trade that soothed my pain about BTC downtrend a bit. Broker has got it's commissions, I've got my profits withdrawn. Everyone's happy.
At the moment I once again crossed my fingers and glued them that way, cause I really hope this is the end of the drop. Sellers don't seem to have that much power anymore. Too early to drive more conclusions though. In case the price once again makes a new low, I'll consider one more short trade to hedge.
Thanks, I'm glad you've enjoyed the "show". Olymp has got about a dozen of most popular crypto assets. Some Cross crypto currencies like LTCBTC or ETHBTC as well. Frankly speaking there is a huge temptation to start daytrading. Since my last post and exit of BTC short, bitcoin gained over 1K and when I think of the missed profits that I could have had if flipped positions at Olymp Trade instead of just closing it, my eyes start watering. But I don't really have much time to trade actively. This is why Ive stated investing. Probably I could consider trading mid-term with Olymp. If you use 4H and daily charts here with corresponding targets, the overnight commissions don't seem to be that big.
Do you think daytrading really is that much timetaking? I'm considering active trading (scalping technique) and I've heard traders normally spend 2-3 hours a day trading like that. Why do you think it will be that much time-consuming? Any brokerage now offers pending orders with automatic stop and profit target. Basically all you need to do is do the analysis and put in the orders. Or do you mean Olymp Trade has got no AOCO brackets?

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Thu Jan 16, 2020 11:14 pm

I guess it depends on the individual trader and his techniques. For me personally this is gonna be very difficult to just put in the quote values to enter the trade and leave. Olymp has got automatic brackets when reaching stop or target will cancel the order on the other side, pending/limit orders are also available. This is not the problem. The reason is that my approach assumes I keep an eye on what’s going on on the chart and the market conditions overall (economic news and other fundamentals as well). When u use upper timeframes, the situation can’t change that quick and I only need to open a chart once a day or even once in couple days. When you daytrade, the setups have shorter lifespan. Situation can change in an hour, trend can change within a single market session. So if I put in the order in the morning, I might need to cancel it in couple hours if price behavior changes or a signal gets beaten by another stronger signal.

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Wed Jan 22, 2020 9:36 pm

Gotcha! How about trading couple hours a day and keeping your attention on charts during these couple hours?

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Thu Jan 30, 2020 12:57 am

Well, this is probably this is the kind of an approach that can work for me. All you need in this case is the desire to trade actively for couple hours a day and also you ‘ve got to have these couple hours of spare time that you can’t spend in a better way. In my case I do have a desire, but don’t have much spare time. I really doubt the profits I can get in this little time are worth it. X100 or even x500 leverage can make it worthy moneywise. But here the other problem comes. If you trade traditional commodities or currencies, you know that first few hours of American trading session will give you best moves and best profits consequently. With cryptocurrencies it's much more difficult to predict when all the fun will start. Bitcoin can often go mad on weekends or at night.

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Tue Feb 18, 2020 8:02 pm

I don’t really understand how can you resist the temptation. I don’t know much about chart analysis, I don’t have much time either, but I still try trading some alts intraday. If I were you, I would have started making at least some trades with other assets. BTW what do you think so far of situation with the Bitcoin? People say we’ve got some hope again for massive rise.

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Wed Feb 19, 2020 9:18 pm

haha, yes, temptation is there, no doubt. Some fiat currencies really look worth diving in there. Bitcoin at the moment is not making me too happy despite it has significantly grown since I closed my big hedge short. I’m looking closely now what it’s going to do at $10500. It looks like it can stuck in a 7500-10500 range, which is not the best of the possible scenarios. Not the worst either, but still..

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Mon Feb 24, 2020 3:39 pm

I’ve heard trading in a range is not that bad if the range is wide enough, which is the case IMO.

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Thu Feb 27, 2020 9:33 pm

guys, ur tearing my heart apart here. Yes, I also think that trading in a range can be extremely beneficial if you know what your doing. The same problem again - you need to be watching your positions to know if the early exit is needed. But oh well, fine, I think if my idea of a range move proves itself to be correct, I can do some more trades on Olymp account. Range trades are just like table tennis, lol. Can be fun.

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Wed Mar 18, 2020 3:31 pm

Looks like some of you guys liked the updates on my Bitcoin adventures. I’m ready with new updates, so sit down, get your drinks ready and listen.
Long time ago, when the world was still young and Bitcoin was 2.5K, I’ve invested in a rather significant amount in our precious BTC. While the price was moving up, there were no reasons to do anything about this investment. However, when it became clear clear the apocalypse, sorry, the downtrend – is there, I decided to hedge my long positions with a short trade on a side platform. It worked out fine and I closed the hedge position with a nice profit. See the details above.
Now the apocalypse 2.0 is here again. This is the time when lots of people around the world are in tears and in grief. Not sure for the same reason, anyway, I share the feelings for sure, especially since BTC reached 4000 again.
So here is the new plan. As long as I’ve missed the moment when BTC has pushed through 6550 support in one single move, like it never was there :( and didn’t sell anything again that moment, I need to consider this 6550 level now as resistance. The situation is unfortunately such that the resistance can turn out to be stronger than this level was as support. So I’m placing the sell order now to 6340 and stop to 7850. This is a big stop and a big risk for this hedge position. I’d love, I’d prefer to get stop exit on this one but you never know. If Bitcoin continues falling along with the rest of the world assets, this positionwill be the only thing that can dry my tears.
Attachments
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Snowmoon
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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Sat Mar 21, 2020 10:53 pm

Interesting! Once again, if I were you, I would have started speculating intraday, but anyway, thanks for sharing your big trades. Sounds like you know what you are doing.

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Tacage
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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Mon Mar 23, 2020 3:05 pm

Good luck man and tnx for sharing indeed. So you are pessimistic about the future of crypt so far?

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Sat Mar 28, 2020 2:51 am

To tell the truth, I’m not very optimistic about the future of the world economy in general. Crypto assets are just reflecting the mood of the big market players and investors. I see how SnP index is strongly correlating with BTC now. It wasn’t been like that before. And IMHO it has nothing to do with the potential of cryptoassets.

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Sat May 23, 2020 12:18 pm

Among many platform for trading i shortlisted Koinpro, Where is not only trading option for crypto but also stacks trading with crypto is functional, also a very typically professional mindset behind the project is the main reason why i mentioned it.

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Re: Olymp Trade forex reviews say they allow to short cryto. Any good for hedging?

Mon Aug 24, 2020 11:02 am

Is this legit?
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