Apologies to regular readers and followers of the 5MADT strategy. I was laid low by a stomach bug, and have not written or tweeted since Friday. Today we'll catch up on all the action, including a revision of Thursday's result.
First of all, here's the updated results:
The overview - three wins from thirteen trading days - four more successful trades from the remaining seven days are required for a profitable month. Currently down 15 points.
You may also notice that the result from Feb 13 has changed from a successful trade to a loss. Essentially, this reflects an account setting that is a newer feature on the CMC trading platform - custom stop loss settings. The account used to monitor the strategy is set to trigger stop loss (and stop entry) orders when the MID price reaches the specified level. However, the default setting for sell stop loss orders is the buy price - and the index buy price hit the stop loss level EXACTLY before reversing direction to the take profit level.
As I didn't specify the setting, I'll record this as a loss. For those interested in customising stop order trigger levels, the controls are accessed via the "custom settings" drop down menu in the top right of the platform:
..and this is the account setting at mid price triggers. (Please note, any traders moving away from the default settings should ensure they understand how price boundaries work).