Most forex traders rely on technical analysis books written for stock, futures, and option traders. However, long before computers and calculators, traders were trading naked. Naked trading is the simplest (and oldest) trading method. It's simply trading without technical indicators, and that is exactly what this book is about.
Traders who use standard technical indicators focus on the indicators. Traders using naked trading techniques focus on the price chart. Naked trading is a simple and superior way to trade and is suited to those traders looking to quickly achieve expertise with a trading method.
- Offers a simpler way for traders to make effective decisions using the price chart
- Based on coauthor Walter Peters method of trading and managing money almost exclusively without indicators
- Coauthor Alexander Nekritin is the CEO and President of TradersChoiceFX, one of the largest Forex introducing brokers in the world
Naked Forex teaches traders how to profit the simple naked way!
Long before computers and calculators, trading was handled without complex technical analysis and indicators. Trading was old school-based on using only price charts-and it was simple, profitable, and easy to implement. In Naked Forex, Nekritin and Peters show you how to successfully trade this way.
This lively, three-part book lays out the authors' techniques in detail. The first part walks you through the fundamentals of forex trading and establishes the ruling tenet of all naked forex trading: price is king. In Part Two, the authors share methods that lead to profits, including using resistance zones, price patterns, transitions, and such intriguing trade setups as Wammies, Moolahs, and the Last Kiss. In the last part of the book, you'll learn to understand your own trading psyche. Mastering your own attitudes toward risk, says coauthor Peters, who is also a PhD in psychology, is how you finally become a true professional trader.
Engaging and informative, this practical guide touches on many provocative topics, including:
* Is it possible to outwit some of the most determined, intelligent, and well-resourced traders in the world? Find out what it takes
* The concept of "zones" and the seven most important things you need to know about them
* Six key stages you must address for every trade
* Are you a runner or a gunner? When it comes to exiting a trade with money, it's important to know
* The one secret expert traders all share, why boring is good, and six steps to becoming an expert
* Why understanding yourself is paramount. What is your attitude towards money? What are your biases? Find out how to find out
Naked trading is liberating, exhilarating, and frees you to focus on markets, instead of the indicators, say Nekritin and Peters. Follow their proprietary techniques to profitability with Naked Forex.