Week 3
Going down to the wire. Results day 16
Another win for the Five Minutes a Day Trading strategy has us well positioned. Just one more win will assure a profit for the month long campaign. With five trades to go, we have an excellent opportunity to record a strong gain. The final week will determine the outcome, but the range for possible outcomes is now set. The strategy is now ahead 56 points. No wins from the remaining five trades would mean a loss of 19 points for the month. Five from five (admittedly unlikely) would mean a profit of 211 points.
Sixteenth trade. 22 March – prices
Going into our sixteenth trade of the 5 minutes a day trading campaign and we’re still in the green with six trades to go. Leading into the fourth and final week of our trading campaign, we’ll be looking to score at least two more wins to finish on a high note.
Dovish stop out. Results day 15
Unfortunately a general dovish tone to European trading saw EUR/USD trend downward, falling through our buy order to hit the stop loss. We’re heading into the final week of the month long Five Minutes a Day Trading strategy campaign. With six trades to go we need just two wins to ensure a profitable month – although three or more wins would make a better result. Monitor the action as we trade the final week, starting at 5 pm this afternoon.
Fifteenth trade. 21 March – prices
After last night’s clear intraday trend we’re looking for a little more reversion to the mean tonight. In this last third of the campaign we need just two more wins to assure a profit for the month. UK retail sales data and US jobless claims are released tonight, and may prove the catalyst for the sort of move that suits the Five Minutes a Day Trading strategy.
Fed cruels the trade. Results – day 14
The Five Minutes a Day Trading strategy took a loss overnight, and we’re blaming the US Federal Reserve. After a quiet European session the release of the Fed’s interest rate decision sent EUR/USD ripping higher, triggering our sell order then blowing through our stop loss level almost immediately afterward. However we remain undeterred and will be back at 5 pm today to continue with our trading plan.
Fourteenth trade. 20 March – prices
At the two-thirds mark the Five Minutes a Day Trading campaign is ahead of the required hit rate. With 8 trades to go, the strategy needs just 2 wins to deliver a profit for the month. This required 25% strike rate is below the 33% required at the beginning of the month, and is aided by the three “draws” so far. If the strategy delivers tonight we’ll be in a strong position.
Seeking closure. Results – day 13
In an extraordinary development we have our third unclosed trade this month. Once again, we realise a small profit, keeping us above water with a 55 pip gain so far this month. The 3 “draws” have changed the overall win/loss dynamic. We now only need 6 outright wins to make a profit for the month, down from 7. Join us again at 5 pm today as we take on the largest single market in the world – EUR/USD.
Thirteenth trade. 19 March – prices
Lucky thirteen. This trade could appeal to the contrarian, or at least a superstitious contrarian. The lack of movement overnight is unusual, and although a draw is acceptable the Five Minutes a Day Trading strategy would benefit from another win. Just nine trades to go. Two more wins will deliver a profitable month, but we’re looking for more.
Another curve ball – still ahead. Results day 12
For the second time this month, and only the second time in the seven month-long Five Minutes a Day Trading campaigns, we have an unclosed trade at the New York 5 pm close. (9am Melbourne/ Sydney). In accordance with the rules the trade is closed at the price at that time – in this case our sell trade at 1.1347 is closed out at 1.1336. Another small profit, but it changes the profit conversation. With 4 wins and 2 draws, we now only need 2 more wins for a profitable month.
Twelfth trade. 18 March – prices
We’re now past the half way point of this Five Minutes a Day Trading campaign for the month of March. With four clear wins, one draw and six losses we are 38 pips ahead, and looking for another win tonight. Only three more wins from the remaining ten trades are required to assure a profitable month, illustrating the power of a higher reward to risk ratio.
A winning cluster – results day 11
The second win in a row and the fourth clear win for the campaign puts the Five Minutes a Day Trading strategy further into profit for the month of March. In past campaigns we’ve observed winning trades coming in a cluster. While past performance is not a guide to the future the idea that favourable market conditions may prevail for a number of days is intuitively appealing. We’ll find out more tonight! Join us at 5 pm Melb/Syd time for our next trade.
Eleventh trade. 15 March – prices
Another day, another trade. Today also marks the halfway point of our EURUSD March rally and we’re looking to further increase our win count. The Eurozone’s Consumer Price Index rate will be released this evening and we could see some volatility during the session depending on that inflationary figure. Join us tonight at 5pm as we wrap-up the second week of our 5 minutes a day trading campaign.
