We did not design this strategy to yield 100 pips wins on every positions entered, contrary to the name, what we have is a strategy that is adaptable to market conditions, one that ensures maximizing profits and minimizing losses.
The 100 Buy-Sell Hama forex trading strategy follows the overall market trend and fits into the aforementioned properties i.e. boosting profits while limiting losses.
The strategy is designed around the amazing trio indicators of the 100pips Momentum, HAMA_ and buysellpips technical tools, which allows proper gauging of price smoothening, overall market trend and price reversal.
Chart Setup
MetaTrader4 Indicators: 100pips Momentum.ex4 (Default Setting), HAMA_.ex4 (Colors Width Modified; #0=3, #1=3, #2=3, #3=3), buysellpips.ex4 (Default Setting)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, 1-Day
Recommended Trading Sessions: Any
Currency Pairs: Any pair
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Buy Trade Example
Fig. 1.0
Strategy
Long Entry Rules
Initiate a buy entry if the following indicator or chart pattern gets put on display:
- If the royal blue shaped bodies of the HAMA_ custom indicator intersects the lines (blue & red) of the 100pips Momentum MT4 indicator in a bottom up manner (see Fig. 1.0), price is said to be taken higher i.e. a trigger to go long on the designated currency pair.
- If the yellow upward pointing arrow and lime dotted line of the buysellpips custom indicator pops up within the indicator window as shown on Fig. 1.0, price is said to be driven higher i.e. a trigger to buy the selected currency pair.
Stop Loss for Buy Entry: Place stop loss 1-3 pips below trading support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions takes precedence:
- If the red shaped bodies of the HAMA_ custom indicator cuts across the line (blue & red) of the 100pips Momentum MT4 indicator to stay above it, this denotes weaning bulls power, hence an exit or take profit will suffice.
- If the buysellpips custom indicator displays a yellow downward pointing arrow as seen on Fig. 1.0, bullish pressures is said to be weaning, hence an exit or take profit is advised.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the red shaped bodies of the HAMA_ custom indicator intersects the lines (blue & red) of the 100pips Momentum MT4 indicator in a top downward fashion (see Fig. 1.1), price is said to be driven lower i.e. a trigger to go short on the forex pair of interest.
- If the yellow downward pointing arrow and red dotted line of the buysellpips custom indicator pops up within the indicator window as depicted on Fig. 1.1, price is said to be taken lower i.e. a trigger to sell the designated forex pair.
Stop Loss for Sell Entry: Place stop loss 1-3 pips above trading resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes to the fore:
- If the red shaped bodies of the HAMA_ custom indicator cuts across the line (blue & red) of the 100pips Momentum MT4 indicator to stay below it, this denotes halting bears power, hence an exit or take profit will do.
- If the buysellpips custom indicator displays a yellow upward pointing arrow as shown on Fig. 1.1, bearish pressures is said to be halting, hence an exit or take profit is recommended.
Sell Trade Example
Fig. 1.1
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About The Trading Indicators
The 100pips Momentum indicator offers bullish and bearish entry signals.
This is due to the indicator’s composition i.e. being made up of four technical studies with the ATR volatility indicator included.
The HAMA_ indicator deploys a 2-color visualization (red and royal blue) scheme to deliver sell and buy signals respectively.
The BuySellPips custom indicator captures trends via its yellow upward or downward pointing arrow with an attached dotted lime or red line to signal a buy or sell.