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Naked Forex: High-Probability Techniques for Trading without Indicators

Book Description

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 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!

Note: The ebook version does not provide access to the companion files.

Table of Contents

  1. Cover
  2. Series
  3. Title Page
  4. Copyright
  5. Dedication
  6. Foreword
  7. Preface
  8. Acknowledgments
  9. Part One: Naked Forex Trading Revealed
    1. Chapter 1: The Fundamentals of Forex Trading
      1. A QUICK LESSON IN CURRENCIES
      2. PLAYERS OF THE FOREX MARKET
      3. TOOLS OF THE TRADE: FUNDAMENTAL VERSUS TECHNICAL INDICATORS
      4. WHAT IS NAKED FOREX?
    2. Chapter 2: Avoiding a Trading Tragedy
      1. IS THERE A “BETTER” INDICATOR?
      2. TAKING RESPONSIBILITY FOR LOSING TRADES
      3. LEARNING FROM MARKET BIOFEEDBACK™
    3. Chapter 3: Back-Testing Your System
      1. THREE GOALS OF BACK-TESTING
      2. MANUAL BACK-TESTING
      3. USING BACK-TESTING SOFTWARE
      4. AUTOMATED BACK-TESTING
      5. TOP THREE BACK-TESTING TIPS
    4. Chapter 4: Identifying Support and Resistance Zones
      1. ZONES ARE BIG FAT BEER BELLIES
      2. OLD ZONES, NEW ZONES
      3. HOW TO FIND ZONES
      4. FIVE TIPS FOR FINDING ZONES
  10. Part Two: Naked-Trading Methodology
    1. Chapter 5: The Last Kiss
      1. WHAT IS A BREAKOUT TRADE?
      2. WHAT IS A LAST KISS?
      3. TRADING THE LAST KISS
    2. Chapter 6: The Big Shadow
      1. WHAT DOES IT LOOK LIKE?
      2. DOES BIGGER EQUAL BETTER?
      3. THE STOP LOSS
      4. ENTERING THE TRADE
      5. IMPORTANCE OF THE CLOSING PRICE
      6. ROOM TO THE LEFT
      7. PROFITING FROM BIG SHADOWS
      8. THE RULES
    3. Chapter 7: Wammies and Moolahs
      1. THE DOUBLE BOTTOM
      2. THE DOUBLE TOP
      3. IDENTIFYING WAMMIES AND MOOLAHS
      4. HOW TO TRADE WAMMIES
      5. HOW TO TRADE MOOLAHS
      6. TIPS FOR WAMMIES AND MOOLAHS
    4. Chapter 8: Kangaroo Tails
      1. WHAT IS A KANGAROO TAIL?
      2. THE OPEN AND CLOSE
      3. KANGAROO TAILS ARE LONG
      4. KANGAROO TAIL PLACEMENT
      5. ENTERING THE TRADE
      6. THE STOP LOSS
      7. PROFIT TARGETS
      8. KANGAROO-TAIL TIPS
    5. Chapter 9: The Big Belt
      1. WHAT IS A BIG BELT?
      2. THE BEARISH BIG BELT
      3. THE BULLISH BIG BELT
      4. TIPS TO TRADING THE BIG BELT
    6. Chapter 10: The Trendy Kangaroo
      1. WHAT IS A TRENDY KANGAROO?
      2. TREND INDICATORS
      3. TRADING TRENDY KANGAROOS: RESTING SPOTS
      4. TRENDY KANGAROO CHARACTERISTICS
      5. BEWARE THE TRENDY KANGAROO TRAPS
    7. Chapter 11: Exiting the Trade
      1. EXITING WITH MONEY
      2. EXIT STRATEGIES
      3. MANAGING EXITS
  11. Part Three: Trading Psychology
    1. Chapter 12: The Forex Cycle
      1. WHAT IS THE CYCLE OF DOOM?
      2. LIVING IN THE CYCLE
      3. DEFEATING THE CYCLE
    2. Chapter 13: Creating Your Trading System
      1. WHAT DO YOU BELIEVE?
      2. RISK RULES
      3. MANAGING YOUR TRADES
      4. KNOWING YOUR TRADING PERSONALITY
      5. DEFINING YOUR TRADING SYSTEM
    3. Chapter 14: Becoming an Expert
      1. WHY DO YOU WANT TO TRADE?
      2. THE SECRET OF THE EXPERTS
      3. SIX STEPS TO BECOMING AN EXPERT
      4. DOING IT AGAIN
      5. BORING TRADING IS EXPERT TRADING
      6. A SIMPLE TRICK
    4. Chapter 15: Gaining Confidence
      1. THE ORIGIN OF CONFIDENCE ISSUES
      2. CONFIDENCE IN YOU
      3. REASONS FOR LOSING STREAKS
      4. THE BAD MARKET THEORY
    5. Chapter 16: Managing Risk
      1. YOUR RISK PROFILE
      2. TRADING PSYCHOLOGY AND RISK MANAGEMENT
      3. RISKY MONEY TRAPS
  12. About the Trading Software and Video Tutorial
  13. About the Authors
  14. Index