Share your knowledge with your friends!
Everyone wants to find the “golden key” to the financial market to make a guaranteed profit.
Now we will tell you about one trading strategy, which is not only very simple to use, but also incredibly effective.
It minimizes the risks, and allows you to earn good money using important economic news.
The idea of the strategy
First of all, you must ensure that your trading platform enables you to cancel trades. Not every broker support this feature, so we will demonstrate our strategy using the OLYMPTRADE broker as the example.
Trading with this broker, you will be able to cancel any opened trade, when you see that the price is moving in the wrong direction. This is a very important feature, and now we will explain you why.
You will also need an Economic Calendar where all important news about different countries is published.
Of course, there is not much news that can earn you money without risk – about 6-7 per week.
However, it will be enough for you to generate some income.
Using the Strategy
STEP 1. Find the most important news in the Economic Calendar. These news are marked with three bull heads.
STEP 2. Choose the currency pair with the currency from the news (for example, if the news comes from Germany, the currency will be EUR, and we choose EURUSD).
STEP 3. One minute before the news is released, open two trades for a period of 10 minutes: one “UP”trade and one “DOWN” trade.
STEP 4. 2-3 minutes later, it will become obvious which way the price is moving. That’s when you should cancel the losing trade. Press the “Cancel” button, and you will get back a part of your bet. Note, the earlier you will cancel the trade, the more money you will get back.
STEP 5. Wait until the other trade expires, and take your profit!
The Results of the Strategy
If we invest 1000 rubles in every trade, then our investments will be: 1000 x 2 = 2000 rubles.
The payback from cancellation of the losing trade is 40%. So, we will get 400 rubles back (600 rubles are our loss).
Net profit for the second trade will be 80%. So, we will earn 800 rubles.
Total: 800 – 600 = 200 rubles.
Without taking much risk, you can earn 200 rubles in 10 minutes.
If you invest in each trade the maximum amount of $200, you will get $40 in just a few minutes.
OLYMP TRADE Recommendations
This strategy should be used with the news on the UK (GBP / USD), Japan (USD / JPY), USA (USD / JPY), and Canada (USD / CAD). Also you can use the most important news on the Eurozone (EUR / USD). However, in this case, you should be very careful. Watch out for the news on the USA at the same time. If there is any, the price movement may be unpredictable.