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Price Action, Naked trading only


skid-z

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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.

 

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

 

Cheers!

 

:peace:

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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,

Ore no Shinka Hikari yo Hayai. Zen Uchi o Nani no Mono Ore no Shinka Chuito Kore Nai.

Ten no Michi yo Iki. Subete o Sukosadoru Otoko.

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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:

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  • 6 months later...

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

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  • 2 weeks later...

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

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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:

 

What about using trendlines and support/resistance lines, is it still considered naked?

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Re: Price Action, Naked trading only

 

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.

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Re: Price Action, Naked trading only

 

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...

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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

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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

http://rapidshare.com/files/257282131/Reading_Price_Bar_www.update-books.com.rar

 

Price Action Chronicles 1 and 2 by Bryce Gilmore

http://rapidshare.com/files/219290772/Chronicles_Vol_1__2007_.pdf

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.

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Re: Price Action, Naked trading only

 

Trading naked is about recognizing and reacting to certain patterns in the market. One of the best sources that I have read on chart patterns is "Trading Chart Patterns Like the Pro's" by Suri Duddella. This book displays numerous types of chart patterns and explains each of them in about a page or two usually with entry, exit and stoploss points (now thats what I call a great reference text :-bd ).

 

So if anyone is looking to learn how to trade price, I suggest that you just pick one pattern or two and focus on recognizing and trading them.

 

If anyone is interested in the book, I believe it was already posted in the ebook section. Take a quick scan or do a search.

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Re: Price Action, Naked trading only

 

Yes back to the naked trading since it is simple and can be used to any trading platform.

Open your H4 or D1 Charts, draw S & R manually, wait while watching the most reliable candle stick pattern near S & R line then set your entry point, TP and SL.

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