In an enlightening interview with FundedNext, Aman Mdewa Nthangu, a seasoned trader from Tanzania, gave an in-depth look into his trading strategy that has led him to achieve more than $2000 in profit, focusing primarily on the CAD/JPY currency pair. With nearly six years of trading experience, Aman has refined a strategy that leverages pure price action, bypassing traditional indicators for a more nuanced approach to the markets.
Aman’s Approach to Trading CAD/JPY
Aman’s trading strategy is deeply rooted in price action analysis, emphasizing the importance of understanding market behavior, particularly at turning points. This strategy has allowed him to capitalize on the CAD/JPY pair’s nuances successfully. Aman prefers trading during the New York session, adopting a day trading stance but is flexible enough to hold positions for a couple of days when the situation warrants it.
Key Elements of Aman’s Trading Strategy
Throughout the interview, Aman detailed how he determines the weekly direction and identifies critical zones for the CAD/JPY, showcasing his methodical approach to finding entry points and emphasizing the significance of Tuesdays for potential reversals. His strategy for entry signals relies on candle closures below pivotal levels, demonstrating a keen insight into market movements.
Risk Management and Discipline
Aman also discussed his rigorous risk management techniques, highlighting the placement of stop losses 17 pips above the high or at previous structure points to safeguard his trades. His disciplined approach and adaptability to market dynamics underscore the principles that have guided him to consistent profitability in his trading career.
About FundedNext
FundedNext, headquartered in Dubai, UAE, and led by CEO Abdullah Jayed, offers traders a variety of account types across two-step and one-step evaluations. Established on March 18, 2022, under the legal name GrowthNext F.Z.C, FundedNext aims to empower traders worldwide by providing them with substantial trading capital and the opportunity to thrive in the financial markets.
