The 5 Minute Trading Day strategy is a high hit rate, consistent trading strategy that is straight forward and easy to action. It is great for new traders, and someone with not much time that wants to generate an extra Income.
1. A tight FIXED SPREAD CFD platform otherwise the strategy will not be as effective. I personally use TD365 for trading as the spreads are the tightest on offer and also fixed when others increase…meaning more returns in your pocket. Try the demo here before you get started www.td365.com
2. 5 Minutes a day for each of the three key Indexes…Hang Seng, DAX and DOW.
3. A basic understanding of the PRICE CHARTS for trading – contact us for more information
Getting Started – Rules for Success
1. Use 1 min chart for entries and the opening range window.
2. Mark Up the High and Low level for the opening window – times below.
Times AEDT – DOW 12:30-1:29am, DAX 6-6:59pm and Hang Seng 12:15-12:29pm
AEST – DOW 10:30-11:29pm, DAX 4-4:59pm and Hang Seng 11:15-11:29am
3. Entry distance above the opening range high and below the opening range low are:-
DAX order is 1.5 points above/below opening range high/low
DOW order is 1.5 points above/below opening range high/low
Hang Seng order is 3.5 points above/below opening range high/low
4. Set up the entry orders for the trade. Risk level must be in place with target prior to execution trigger candle beginning.
DAX and DOW are both 10 point risk and 10 point profit target while Hang Seng is 30 point risk and 30 point profit target.
5. Execute the trade and let the trade do its magic!!
The 5 Minute Trading Day Check List
The price has NOT traded at new highs/lows in the last 2 mins
Is the Index Trading below an opening range high/s?
Is the Index Trading above an opening range low/s?
The Orders are placed in the final 1min candle
The order is the correct distance above/below the opening range high/low
Notes: The index must not be tracking at new highs or lows 2 mins prior to index open.
Ideally the index must not have trended straight up or down in one direction.