Naked Forex: High-Probability Techniques for Trading Without Indicators
$21.91
| Author(s) | , |
|---|---|
| Pages |
290 |
| Format |
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| Published Date |
2012 |
Alex Nekritin and Walter Peters in Naked Forex: High-Probability Techniques for Trading without Indicators provide an honest and effective presentation about forex trading that certainly beginners need, and that more experienced traders forget they need.
Introduction:
Naked Forex makes some powerful points about trading forex that really apply to other markets as well. First and foremost, price is the most important indicator of all. All indicators are derived from price. Many traders have forgotten this fact because computerization has made it easy to generate new indicators.
Indicators work more like training wheels for learning to ride a bicycle. They are temporary in their capacity to help traders build their skills. They actually limit the evolution of a trader’s performance because they provide a disincentive to “listen” to the market. Naked Forex goes into detail on how a trading signal that is indicator-based is inferior to what Nekritin and Peters call a “naked” signal.
Another key insight that the book provides is the importance of knowing one’s personality in trading. Trading systems that are based on untested algorithms that are purely technical will surely fail. Nekritin and Peters argue that trading systems should reflect decisions that traders would make that are based on looking at charts. Manual backtesting, they suggest, is an effective way to identify a trading system’s strengths and weaknesses.
A third major focus of Naked Forex is the concept of identifying support and resistance zones. The fact is that with the trillions of dollars that float each hour through the currency markets, prices reach certain levels and stop. One can try to figure out why they stop rising or stop falling. But the job of the trader is to observe accurately where the price is and where it came from. Price zones provide the naked truth about market sentiment. If a price breaks through a zone, no matter what the reason, it is a signal—and a more powerful signal than any indicator.
Contents:
- The Fundamentals of Forex Trading
- Avoiding a Trading Tragedy
- Back-Testing Your System
- Identifying Support and Resistance Zones
- The Last Kiss
- The Big Shadow
- Wammies and Moolahs
- Kangaroo Tails
- The Big Belt
- The Trendy Kangaroo
- Exiting the Trade
- The Forex Cycle
- Creating Your Trading System
- Becoming an Expert
- Gaining Confidence
- Managing Risk
Naked Forex: High-Probability Techniques for Trading Without Indicators By Alex Nekritin pdf
12 reviews for Naked Forex: High-Probability Techniques for Trading Without Indicators
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Landyn Frazier (verified owner) –
I’m new to trading and have used tradingview on a daily basis. This book cleared up soo much confusion of the multiple indicators. I thought I had know all of the smoke and mirror tricks will different softwares but found that they’re really just distractions from you learning the craft. If your new to trading and want to increase knowledge on trading you want go wrong with this book! I’m am know reading Steve Nison’s Japanese Candlestick Charting!
Kendall Barnett (verified owner) –
Just starting off in the Forex Market, this is just what I needed. Very good explanation and detail of set ups. Excellent diagrams.
Amalia Singleton (verified owner) –
To give potential readers a brief idea about Naked forex, I would like to paraphrase pg7 as follows, “Naked trading, trading without indicators, can be liberating, since 90% of fx trading books, websites and seminars focus on indicators and indicator based trading. Indicators encourage “secondary thinking,” which is a real handicap for traders looking to acquire expertise. Secondary thinking involves analyzing the indicator, spending time considering where the indicator may go, rather than focusing on the market. Naked traders, by definition focus on the market, which is very different.”
Supposedly, the author should teach a lot about chart reading and other non-indicator based techniques. Pity that charts are few, and really confusing or even wrong (e.g. the last kiss trade and many on false breakouts) . I think most books focused on Candlestick are better than this. Some powerful quotes, but the book itself is far from acceptable.
Kira Cherry (verified owner) –
Great book for any forex trader! I loved it. You can keep reading it over and over again and keep adding tid bits of knowledge.
Jayson Wilkins (verified owner) –
So much insight I’ve read a few books on the topic. This one takes the cake. Real, immediately applicable knowledge and advice.
Princess Huynh (verified owner) –
This is all you need. Read it once, read it twice, keep working on your strategy and become profitable. Recommended.
Gwen Lindsey (verified owner) –
End of the book was most insightful, definitely a good read but noticed the different strategies are hard to find in real life scenarios often.
Stephen Flores (verified owner) –
NOT MUCH NEW INFORMATION, good reminders though
Lawrence Barrett (verified owner) –
I highly recommend this book. It absolutely help me to eliminate indicators for better entries and exits. It also helped me to eliminate lots of charting. So if u want to learn the simple way to trade and to add flavor to your strategies I advise you to get this book.
Layton McIntosh (verified owner) –
This book 📕 got all the sauce!
Rome Browning (verified owner) –
Bough it a couple of years ago and right away it made sense. Along with my charts I used it to study the markets and I can honestly say it’s changed the way I take trades and it definitely has increased my profits. I tend to look for setups like these and they help me so much. It give you an understanding of what to look for and why.
Octavia Hess (verified owner) –
This book provided me with a strategy that I trust and isn’t unneceassarily complex.