Amka Pips Forex Trading Strategy
The Amka Pips Forex trading strategy is one of the simplest, yet amazingly currency trading strategies to reach your pip targets.
It is a strategy that can work for you only if you stick to its setup and buy/sell trading rules.
Currency traders tend to think that it is only about a specific way to trade, instead this is essentially only part of the trading strategy.
While we understand that one strategy might work for you, while ineffective for another trader, hence finding the right one is crucial for every trader.
What differentiates success and failure for market participants is self-control; a feature that allows traders stick to or not to the trading rules allotted to a strategy.
MetaTrader4 Indicators: amka-indicator.ex4 (Inputs Variable Modified; periodAMA=18), sfx-cci-indicator.ex4 (Inputs Variable Modified; CCI_Period=28, Calc_Period=14)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week
Recommended Trading Sessions: Any
Currency Pairs: Any pair
Buy Trade Example
Long Entry Rules
Enter a bullish trade if the following indicator or chart pattern gets put on display:
- If the red dotted green line of the amka-indicator gets aligned slightly below the price bars as illustrated on Fig. 1.0, price is said to be driven higher i.e. a trigger to go long on the designated currency pair.
- If the blue line & green histograms of the sfx-cci-indicator breaks above the 0.00 signal level (see Fig. 1.0), bulls are said to be driving price higher, therefore a buy order will suffice.
Stop Loss for Buy Entry: Place stop loss 3 pips below short-term support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit from all trades if the following rules or conditions takes precedence:
- If a blue dot pops up on the green line of the amka-indicator as depicted on Fig. 1.0, bullish sentiment is said to be easing, therefore an exit or take profit is duly advised.
- If the blue line of the sfx-cci-indicator breaks below the 0.00 horizontal reference level as shown on Fig. 1.0, price is said to be making a likely U-turn i.e. a trigger to exit or take profit at once.
Sell Entry Rules
Go short if the following setups gets displayed successfully on the activity chart:
- If the blue dotted green line of the amka-indicator gets aligned marginally above the candlesticks as exemplified on Fig. 1.1, price is said to be pushed lower i.e. a trigger to go short on the specified forex pair.
- If the blue line & red histograms of the sfx-cci-indicator dips below the 0.00 signal level (refer to Fig. 1.1), bears are said to be driving price lower, therefore a sell order will do.
Stop Loss for Sell Entry: Place stop loss 3 pips above short-term resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If a red dot pops up on the green line of the amka-indicator as shown on Fig. 1.1, bearish sentiment is said to be weaning, therefore an exit or take profit is duly recommended.
- If the blue line of the sfx-cci-indicator surge above the 0.00 horizontal reference level during a bearish trend, price is said to be making a likely U-turn i.e. a trigger to exit or take profit immediately.
Sell Trade Example
About The Trading Indicators
The amka-indicator.ex4 is a custom indicator designed by Perry Kaufman as an adaptive moving average with indicative points placement based on the standard mean-square deviation.
The sfx-cci-indicator.ex4 is a modified Commodity Channel Index indicator that is used in spotting cyclical trends.