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  • Price Action, Naked trading only

    I'd like to start a thread dedicated to info/ebooks/videos that are related to price action & naked trading ONLY.

    In my own trading history, which started 2-1/2 yrs ago, I have come full circle from trading just the basics (trendlines, chart patterns, S&R, price) to using systems with one or more leading/lagging indicators, and now back to the basics using only S&R and candles/bars. I truly believe that this is the key to being a successful forex trading (along with discipline and good MM).

    Please post your favorite price-action/naked trading style here as well as comments about how your style of trading works for you.

    Please keep this thread CLEAN by not posting any responses that may be solved by using search function & PM.

    For starts, I am using Trading in the Buff strategy along with pin bars & Inside & Outside bars (James16 has good info on this). Very simple & easy to follow setups that give you plenty of time to calculate your risk/reward/entry/stops well in advance.

    Code:
    http://indo-investasi.com/viewtopic.php?f=10&t=1263
    Cheers!

    :peace:

  • #2
    Re: Price Action, Naked trading only

    In my opinion, "Trade Chart Patterns Like The Pros by Suri Duddella" is also great.

    I think the combination of these 3 ebooks is great.

    If you pay attention,
    - a late pin bar could form a pipe pattern, parabolic arc, or V-top.
    - a failed pin bar could form a john's 123 pattern
    - a failed john's 123 pattern could form a pipe pattern, vic's 123, or vic's 2B

    So, we could get any pattern, failed or success, to use for trading from that simple pin-like-bar.

    Well, that's my opinion. Never heard or use any of them though, just known them from this forum. The only naked pattern that i've used are head shoulder, double or triple bottom or top, and channels.

    There's also a book about Gann that's been recently shared. Might be quite interesting. Hope someone could give a mirror for that one.

    Regards,

    Comment


    • #3
      Re: Price Action, Naked trading only

      I love naked trading..!!

      Just to add some info, if you guys really wants to master this method, get the basics by reading these two books first:

      1. The Candlestick Course -SteveNison
      2. Japanese Candlestick Charting Techniques -SteveNison

      I'm currently using John's 1-2-3 pattern, nickB method, rolereversal method and James16 pin bar.. :lol:

      Comment


      • #4
        Re: Price Action, Naked trading only

        I think that you cannot trade without channel, it is too important to me

        Comment


        • #5
          Re: Price Action, Naked trading only

          This is what i want to achieve...naked trading..hehee..Less indicator no confusing

          Comment


          • #6
            Re: Price Action, Naked trading only

            I agree nothing can substitute price action try synery method that uses price action and traders dynamic

            Comment


            • #7
              Re: Price Action, Naked trading only

              Classis point and figure charting offers pure price action without the distraction of time, successfully used for over a century- here are some sources:

              Jeremy Du Plessis- The definitive Guide to Point and Figure
              Thomas J. Dorsey- Point & Figure charting: The essential Application for Forecasting and Tracking Market Prices
              Heinrich Weber, Kermit Zieg- Complete Guide to Point and Figure Charting

              Comment


              • #8
                Re: Price Action, Naked trading only

                Coming from trading naked I almost see every thing naked nowadays

                Basically I follow a simple principle using D1 find the overall Trend.... wait for a reversal as the trend starts to continue wait for the break of the second bar after the last one on the reversal or enter using the classical 1,2,3 setup.....

                Trading naked is fun because u only need to check the chart once and know what is happening.

                Cheers

                Comment


                • #9
                  Re: Price Action, Naked trading only

                  Originally posted by pasavento
                  I love naked trading..!!

                  Just to add some info, if you guys really wants to master this method, get the basics by reading these two books first:

                  1. The Candlestick Course -SteveNison
                  2. Japanese Candlestick Charting Techniques -SteveNison

                  I'm currently using John's 1-2-3 pattern, nickB method, rolereversal method and James16 pin bar.. :lol:
                  What about using trendlines and support/resistance lines, is it still considered naked?

                  Comment


                  • #10
                    Re: Price Action, Naked trading only

                    Originally posted by Ajata
                    What about using trendlines and support/resistance lines, is it still considered naked?
                    As far as I know, anything you draw manually on a chart still falls under the "naked" definition. On the other hand, anything that's the result of a mathematical calculation (i.e. indicators) definitely doesn't.

                    Comment


                    • #11
                      Re: Price Action, Naked trading only

                      Originally posted by Ajata
                      What about using trendlines and support/resistance lines, is it still considered naked?
                      yup...some says support n resistence are the 'king' of naked trading...if u notice in many naked trading method, snr are the major thing in the methods

                      master the support and resistence, the market will be your friend...

                      Comment


                      • #12
                        Re: Price Action, Naked trading only

                        I trade pure PA also, with the addition of 34,150,365SMA /S&R/ Trendlines/ Patterns/ Fibs /Pivots and patterns.

                        I recommend:

                        -James16, as mentioned by thread starter. There's a long thread on FF but really this is very basic price action with fib/sr confluence. That said, price action is SIMPLE and thus basic price action is all that is needed for being profitable.

                        -Al Brooks on price action. quintessential reading for the PA trader, infact I believe the best teacher of his kind. (his new book is poorly edited, and a very tough to read but the best resource for PA i've ever seen). I read many books online, this is the only one in the last few years i've thought worthy of buying.

                        -Tom Demark, although you'll see his material rehashed on other forums under different names. TD lines including calculating profits and breakout qualifiers are essential reading. Tom demark on option is recommended, published 1999 if I remember correctly. There are however futures magazine articles on the relavent sections which are free.

                        -Best beginner resource is babypips.com

                        -Hector trader for pattern trading. His videos can be long winded however I believe the core of what he teaches is good. I like his use of moving averages. I don't make as much use of them as he does with his rules but if i use smaller time frames or trade pullbacks I find them very useful. Really though, I think he has nice explanations of patterns. Sure it's free elsewhere, and he's a bit long winded but i think his explanations are really very good.


                        It should be noted I don't use a single strategy and my trading cannot be confined to swing/trend/scalper etc. I enter long term positions on very small time frames to ensure protection of capital. In choppy markets where entry on longer time frames is not possible I enter 5-15min charts and use SMA's to ensure correct trend direction and either buy pullbacks or sole price action H1/H2 etc (as Al brooks explains). Or thirdly I just scalp the market with pure price action on tiny time frames where moving averages are useless and I trade pretty much solely with trend lines/patterns and PA.

                        EDIT - actually my SMA varies according to TF. anything above 1 hour has MA mentioned. 5mins has 50SMA and 21/10EMA

                        Comment


                        • #13
                          Re: Price Action, Naked trading only

                          I would suggest you utilise a big time frame (daily, weekly) to initially see price action. This will allow you train your eyes to see the obvious, prior scaling down the time frame.

                          Comment


                          • #14
                            Re: Price Action, Naked trading only

                            it's better discuss how to trade Price action than bla bla bla chat, i has delete the bla bla bla ( like i agree, etc, etc and unnecessary post )

                            i hope next reply will discuss this topic more detailed

                            Comment


                            • #15
                              Re: Price Action, Naked trading only

                              Here are some ebooks about price action:

                              Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader by Al Brooks
                              Code:
                              http://rapidshare.com/files/257282131/Reading_Price_Bar_www.update-books.com.rar
                              Price Action Chronicles 1 and 2 by Bryce Gilmore
                              Code:
                              http://rapidshare.com/files/219290772/Chronicles_Vol_1__2007_.pdf
                              Code:
                              http://rapidshare.com/files/219297626/V2_Chronicles_APR_2008.pdf
                              Please share more, this is a great topic and there's no much good info about it out there.

                              Comment

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