Top Ten’s Top Ten

Each month we look at the top ten performing accounts on the CMC platform. This helps management at CMC determine where our development and other resources are best deployed. However, there is a spin off benefit for traders – it’s a quick guide to the instruments that have driven trading success.

Here’s a list of the ten most popular instruments among CMC Australia’s ten most profitable traders for the month of May:

AUD/USD – no surprises here. This currency pair is always in the list of most popular instruments, and combined with the move from above 1.0400 to below 0.9600, we’d expect to see plenty of profits. Seven of the ten most profitable traders were active in the Aussie during May.

EUR/USD – again, an instrument that is likely to appear regularly. Although the swing was not as large, the world’s largest trading instrument moved in a four big figure range. 3/10 top traders were in EUR/USD.

QBE (AU) – traded by 2/10, QBE issued debt in late April. This may have the sparked the rush of broker upgrades that followed in May (and some downgrades). The bulls were rewarded by a run from $13 to $16.

USD/JPY (2/10) – Coordinated government and Bank of Japan stimulus likely kept this one on the radar. Also trading a four big figure range, it suggests both EUR and JPY moves were all about the USD.

GBP/USD (2/10) – a six big figure range on a higher price gave roughly the same percentage moves as EUR and JPY – another way to play the USD?

Gold and Silver (both 1/10) – the only commodities to feature on the list (where is oil?). Trading bounces favoured longs, although long/short positioning is more balanced than previously.

Rounding out the top ten, with one trader in each, were NAB (AU), CBA (AU) and Australia 200 Index.

Of note is the fact that only one account traded any indices at all – the Australia 200 Index and the US 30. This is a rare occurrence, and may relate to an overall short positioning in indices in a month where European and US shares rose.

About michaelmccarthycmc

Chief Market Strategist - CMC Markets and Stockbroking Regular on ABC, BBC, Bloomberg, Channel TEN, CNBC, SBS and SKY
This entry was posted in Commodity, Forex, Gold, Market, Shares, Stocks, Trading and tagged , , , , , . Bookmark the permalink.

4 Responses to Top Ten’s Top Ten

  1. Julius says:

    Michael,
    How is the top 10 determined?

    Cheers
    Julius

  2. Tim says:

    What is the criteria when grading is done, is it percentage based profit or dollar value increase?
    When looking at the the month of may is that trades entered in may only? or are you looking at since the person has opened an account and they are currently in top 10 this month?
    I gather its the same criteria that’s used on the client sentiment indicator so im keen to know how this info is gathered.
    Thanks.

    • Hi Tim – please see the reply to Julius above. This is a different method to the client sentiment indicator – the CSI is a “democratic” measure, in that one account (holding a position in that instrument) is one vote, regardless of size.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s