This Five Minutes a Day Trading strategy is looking for a reversing market. Sideways or range trading offers ideal conditions. However on Friday night there was a clear trend in EUR/USD, pushing upwards over the session. Our sell order was triggered, and then our stop loss. However the strategy remains in profit for now, and we’ll look to increase our buffer with this afternoon’s trade.
5MADT Results 11:20, 11 March 2019
Going into our final trading session for the week and we have the US Non-Farm Payroll report to look forward to. Regarded by many traders as one of the most important leading indicators of economic growth – this report seldom disappoints in providing various trading opportunities for the astute investor. Join us each day at 5pm Sydney / Melbourne time as we continue to challenge European forex traders.
5MADT Prices 16:55, 08 March 2019
Higher volatility returned in EUR/USD trading overnight, and it delivered a win for the 5madt strategy. Over the first half of the trading session EUR/USD rose to trigger the sell order. The high was less than one pip above that point. After the ECB statement EUR/USD plunged, filling the take profit order. Five trades, two wins, two losses, and a draw. Join us again at 5 pm today.
5MADT Results 08:35, 08 March 2019
After an unusual trading environment yesterday we’re looking for a return to more normal levels of volatility. The release of Eurozone employment and GDP data at 9 pm Sydney/Melbourne time may help. The European Central Bank is widely expected to leave interest rates on hold at 11.45 pm, but any accompanying commentary, and/or changes to economic forecasts, could have an impact on EUR/USD.
5MADT Prices 16:55, 07 March 2019
Trade number 4 was unusual in a number of ways. For the first time ever in a live 5 Minutes a Day Trading month we had an open position at the close in New York. Our quantitative analysis shows this occurred only 5 times over the year long study period. A decline in the daily Average True Range indicator is broadly in line with the pattern of trading we’re seeking (sideways) but a pick-up in volatility would likely help the 5madt cause.
5MADT Results 12:05, 07 March 2019
Plenty of data tonight to potentially move EUR/USD, including the Markit Germany construction index, an Italian economic note and the OECD interim economic outlook. A trending market hurts the current 5 Minutes a Day Strategy, so we’re looking for a few wobbles before the numbers. Searching for a second win of the campaign.
5MADT Prices 16:50, 06 March 2019
Another day, another doughnut. The trend persisted and we bought and were then stopped out. However we stick to our plan – something almost all successful traders do. The campaign is now in profit by 1 pip, despite our 33% success rate. This illustrates the importance of a higher win to loss ratio. We’ll be back this afternoon, trading live.
5MADT Results 13:35, 06 March 2019
Two trades so far. One win, one loss. This 50% strike rate is ahead of the 33% required for a profitable month. A win tonight will have us on track for a strong result, but a loss would simply bring us back to the required success rate. Join us each day at 5 pm Sydney / Melbourne time as we take on the European forex traders.
5MADT Prices 17:00, 05 March 2019
Our second trade was also a Buy entry. Unfortunately the overnight EUR/USD action continued to trend downward and the stop-loss order activated. The 31 pips won on the first trade compares favourably to the 15 pips lost on this trade, and highlights the use of one of a traders most important risk management tools – the stop loss order. Join us at 5pm today (Syd/Melb time) for trade 3.
5MADT Results 12:10, 05 March 2019
Day 2 of the campaign and we’re looking for a second win. There are no guarantees in markets, and our stop loss order will protect capital if our preferred scenarios don’t play out. The analysis shows the strategy needs 7 wins from the 21 trades to make a profit. It would be good to get a few more early winners.
5MADT Prices 16:40, 04 March 2019
The Five Minutes a Day trading campaign is off to a good start. Just after 7.30 pm on Friday night our buy order at 1.1355 triggered (and we cancelled the sell order). On this occasion the analysis proved accurate, as this was less than 2 pips from the session low. The EUR/USD started to climb, and the attached take profit order was hit at around 11.15 pm, delivering a 31 point profit. One trade, one win.
5MADT Results 11:15, 04 March 2019