In an enlightening interview with FundedNext, Aman Mdewa Nthangu, a seasoned trader from Tanzania with nearly six years of trading experience, shared the secrets behind his trading success. Focusing on the CAD/JPY currency pair, Aman has carved out a niche for himself in the trading world with his unique approach to price action analysis.
Aman’s Trading Strategy Unveiled
Aman’s trading strategy eschews traditional indicators in favor of pure price action analysis. His deep understanding of the CAD/JPY pair’s behavior, especially at potential turning points, forms the cornerstone of his trading success. Specializing in day trading, Aman occasionally holds positions for up to two days, capitalizing on the patterns and signals he’s identified through years of observation.
Trading During the New York Session
Choosing to trade primarily during the New York session, Aman meticulously analyzes the weekly direction of CAD/JPY, pinpointing crucial zones that indicate potential reversals. He meticulously walks through his process, demonstrating how he determines entry points by invalidating certain candle structures and focusing on candle closures below key levels, with a special emphasis on the significance of Tuesdays for market reversals.
Risk Management and Discipline
Risk management is a critical component of Aman’s strategy, with stop losses placed at least 17 pips above the high or at previous structural points. His disciplined approach and keen market insights have been instrumental in achieving consistent profitability in his trades.
The FundedNext Advantage
Aman’s interview not only sheds light on his successful trading strategy but also highlights the supportive environment provided by FundedNext. As a prop firm, FundedNext offers traders various account types and evaluation programs designed to cater to diverse trading styles and strategies, fostering an environment where traders like Aman can thrive.
About FundedNext
FundedNext, legally known as GrowthNext F.Z.C., was incorporated on March 18, 2022, in Dubai, United Arab Emirates. Under the leadership of CEO Abdullah Jayed, the firm offers traders a choice between five account types, including two two-step evaluations and three one-step evaluations, empowering traders to reach new heights in their trading careers.
Aman’s journey with FundedNext exemplifies the potential for traders to achieve remarkable success through discipline, strategic analysis, and the support of a forward-thinking prop trading firm. His mastery of CAD/JPY serves as an inspiration for traders worldwide, highlighting the possibilities within the dynamic world of forex trading.
