Greetings!
The purpose of this thread is to firstly record the results of a back-test on the 5 Minute Candle Strategy and then continue a forward test using current dates.
I'll be testing on SPX and NDX.
The strategy is taught by Casper SMC on his YouTube video:
This 5 Minute Strategy Is The Easiest Way To Become Profitable FAST
Casper is adamant that 'stupid simple' is best when seeking trading success, and I'd much prefer to agree with him.
However, he also emphasizes that even slight deviations from the simple steps in this strategy can result in failure.
There's no mention of a particular timeframe window such as the NY Killzone, so for the purposes of this exercise I'll allow a window of between 9.30-11.30am EST for a setup to occur. If there's no valid setup during this period, there's no trading for the day.
With that said, let's establish the rules:
1. Mark the High and Low of the 1st 5-minute candle from the New York Open at 9.30am EST.
2. Wait for a Close above/below the High/Low of this range.
3. Once a Close OUTSIDE the range is established, wait for price to re-enter the range but then Close back OUTSIDE of it.
4. Enter the trade at the Open of the next candle.
5. Use the fib. retracement tool to mark the 50% level of the 1st 5-minute candle range. That 50% level is your Stop-loss.
6. The profit target is 2R (double the stop-loss).
7. Do nothing. Wait for the trade to play out.
The purpose of this thread is to firstly record the results of a back-test on the 5 Minute Candle Strategy and then continue a forward test using current dates.
I'll be testing on SPX and NDX.
The strategy is taught by Casper SMC on his YouTube video:
This 5 Minute Strategy Is The Easiest Way To Become Profitable FAST
Casper is adamant that 'stupid simple' is best when seeking trading success, and I'd much prefer to agree with him.
However, he also emphasizes that even slight deviations from the simple steps in this strategy can result in failure.
There's no mention of a particular timeframe window such as the NY Killzone, so for the purposes of this exercise I'll allow a window of between 9.30-11.30am EST for a setup to occur. If there's no valid setup during this period, there's no trading for the day.
With that said, let's establish the rules:
1. Mark the High and Low of the 1st 5-minute candle from the New York Open at 9.30am EST.
2. Wait for a Close above/below the High/Low of this range.
3. Once a Close OUTSIDE the range is established, wait for price to re-enter the range but then Close back OUTSIDE of it.
4. Enter the trade at the Open of the next candle.
5. Use the fib. retracement tool to mark the 50% level of the 1st 5-minute candle range. That 50% level is your Stop-loss.
6. The profit target is 2R (double the stop-loss).
7. Do nothing. Wait for the trade to play out.
