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A streamlined and highly effective approach to trading without indicators
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 chartBased on coauthor Walter Peters method of trading and managing money almost exclusively without indicatorsCoauthor 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!
From the Publisher
THREE MYTHS OF SUCCESSFUL TRADING
MYTH 1: SUCCESSFUL TRADING MUST BE INDICATOR BASED
There are many ways to profit in forex, some of them do involve indicators, but indicators are not necessary for successful trading. There are professional traders around the globe who use “naked” charts to make trading decisions. In some ways, indicators delay the progression of the trader because the focus is on the indicator, rather than price action. Indicators become the scapegoat for losing streaks and often keep losing traders in a holding pattern. It is much easier for the novice trader to begin trading without indicators from the beginning.
MYTH 2: SUCCESSFUL TRADING MUST BE COMPLEX
Naked trading systems are incredibly simple. Do not confuse simplicity with ineptitude. Although these systems are simple when applied correctly, they may also yield big profits and build confidence in your trading.
MYTH 3: SUCCESSFUL TRADING IS DEPENDENT ON THE TRADING SYSTEM
This is probably the most widely held belief among traders. This is precisely why there are thousands of trading systems on the market, all promising great riches to the brave traders who pony up the money for the next Holy Grail. Many veteran traders understand the importance of trading psychology. Personal beliefs and attitudes toward risk are the greatest predictors of trading success, and the trading system is not nearly as important as many traders assume. For most trades, after years of trading, this fact becomes apparent.
Publisher : Wiley
Publication date : March 6, 2012
Edition : 1st
Language : English
Print length : 288 pages
ISBN-10 : 1118114019
ISBN-13 : 978-1118114018
Item Weight : 1.02 pounds
Dimensions : 6.3 x 1.1 x 9.1 inches
Customers say
Customers find the book well-written and insightful, particularly appreciating its focus on trading psychology and practical strategies. Moreover, the content is easy to understand and customers consider it a must-read for mastering price action. Additionally, they value its straightforward approach to trading without indicators, with one customer noting how it helps eliminate them for better entries and exits.
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