The most common and most likely answer to this crossword clue is the 5 letter word MIDAS
I've seen this crossword clue in Financial Times
M
I
D
A
S
More clues leading to the result MIDAS
- Miserable? I’m about to become a king
- Unhappy I am, upset – the magic touch works badly for me!
- Maiden on mountain in Crete’s pointing to legendary king
- Legendary king married princess to son
- Not happy, one male brought up to be king
- The first to introduce the golden handshake?
- Victim of Apollo surrounded by ass’s extremities?
- Phrygian king is mad, mad
- Being familiar with gold, Archimedes unexpectedly let out excited cheer
- Sad, immobilised at first, he ascended the throne
Buddy explains!
The straight part
We know that "the magic touch works badly for me" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case the magic touch works badly for me = midas.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.