5MADT – Miss, but Still in the Black – June 6

A stone cold stop out last night. One from three wins so far – the strategy must average one from four to make a profit. In the February campaign, there were nine losses in a row before a late month run of successes that put the month in the black – but it was a severe test of trader patience and persistence. I’m hoping we won’t face a similar situation this month.

Today’s prices:

20130606 prices


And the score sheet:

20130606 resultsYou can read more about the Five Minutes a Day Trading strategy here.


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 Forex, Market, Trading and tagged , , , . Bookmark the permalink.

6 Responses to 5MADT – Miss, but Still in the Black – June 6

  1. Andrew says:

    Hi Michael,

    Couple of questions for you:

    What was the reasoning to use a buy limit order 12 pips below the Euro open and 25 pips above for sells?

    Does this change depending what direction the daily trend is?



    • Hi Andrew – the reasons for the levels are that the analysis of recent trading behaviour showed these levels had a higher profit expectancy – you can read more about it here.

      The levels DO NOT change – the basis of this trading is to apply these parameters mechanically everyday

  2. 32jack says:

    where are the tech notes please…………

    • Ric Spooner says:

      Hi Rosemary,

      We certainly plan to continue the Morning Technical Notes. They’ll be up and running again on Tuesday

  3. Helmut says:

    From an inspection of past data (not a rigorous back testing) it seems that changing the buy/sell levels with the trend produces better results. The trend is given by the 50 SMA (50 day simple moving average). If it is up, buy at R-11, sell at R+25, where R is the reference price. If the trend is down, buy at R-25, sell at R+11, and if it is flat, buy at R-18 and sell at R+18.

    Yesterday I got stopped out with a small profit (3 pips) instead of a loss because I use a trailing stop of 12 pips when the position moves into the profit zone.

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