In this review, we have attempted to identify and describe the best Mirror Trader trading strategies for May.
In May, most of the intraday and trend-following strategies showed good results trading the EUR/AUD, which grew by more than 900 pips in a month. Given the strength of news background, it is not surprising that the greatest burden was borne by the Australian currency and its Asian counterpart – the Japanese yen. “Aussie” managed to lose more than 6% by the end of the month, in response to the negative fundamental developments, not promising any good for the national economy. The slowdown in China’s economic growth, the collapse of the investment boom and practically investment-deprived mining sector – is just a partial list of the reasons which could have been used to effectively trade against the Australian currency. The Yen also moved in the direction of the local weakening, unable to resist the Japanese equivalent of quantitative easing. Moreover, investor fears are now reinforced by the skepticism about the country’s plans for avoiding deflation, which actually anticipates its further weakness. It should be noted that not all of the managers used such a pronounced fundamental background to adapt their positions, but those who were able to do so achieved huge profits in the calendar month. For example:
In May, strategy ThirdBrainFx made 11 trades with EURAUD with a total profit of 2278 pips, without a single loss. The average profit per trade was close to 200 pips; maximum profit exceeded 280 pips. Excellent results were shown with AUDUSD: the strategy made 7 trades, with the total profit of more than 1,943 pips. Maximum profit per trade at the same time was equal to 279 pips. The strategy is always trend-following, keeping the trades open for an average of 10 days. When analyzing the dynamics of currency instruments, the manager makes a strong emphasis on using technical signals given by MACD, working together with William’s indicator.
The Sphynx strategy looked no worse. The strategy made 21 trades with EURAUD in May, of which only two were unprofitable, with the minimal loss of 16 pips. The total profit equals 2469 pips. The average per-trade profit amounted to 130 pips, with the maximum profit exceeding 240 pips. Thus, the strategy’s key measure of profitability, Reward / Risk equals to 8! The manager works on the hourly and the 5-minute charts, analyzing the markets with an integrated approach.
The Counter Strike Strategy made 29 trades with USDJPY which resulted in a total profit of 2,195 pips, with only one loss. The maximum drawdown was only 27 pips, and the average per-trade profit – 79 pips. Taking this into account, the Reward / Risk amounted to 2.9! The strategy is counter trend in nature, that is, when there is a strong movement on the market – the strategy opens a trade in the opposite position, aimed at significant technical analysis levels.
Home Runs earned 3221 point in a month trading EURAUD, after making 15 trades, of which only one was a loss of 153 points. Average per-trade profit equals to 241 pips, and Reward / Risk equals 1.57. The strategy uses the trend-following approach and trades on the daily charts, using comparative quantitative analysis of various currency pairs, backed by fundamental analysis.
Strategy System4P earned outstanding 3560 pips after only 4 trades with AUDJPY. The average profit per trade was 890 pips, and the duration – more than one and a half months. The strategy is trend–following using three time-frames: the daily charts to determine the overall trend, the hourly charts for determining the daily dynamics and 15 minutes to determine the entry and exit points. The process of analysis is based on the indicative analysis of Bollinger Bands and RSI. At the same time, there are no strict criteria applied to the currency pairs – it all depends on the specific situation and the general market sentiment.
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