Forex trading strategies without indicators
March 28, by Hugh Kimura. This is a book that I have been wanting to read for awhile, but it always seemed to get pushed down my reading list. Well, it got pushed all the way back up to the top when I received a box from none other than Walter Peters. Before I begin the review of this book, full disclosure…yes, I got this book for free and I do make a small commission if you purchase through this page. But I would not review this book unless I thought it was well worth reading. I don't have time to spend on writing reviews for crappy books…period. To see more books I recommend, check out the Library and Book Club. Let's start at the top. Walter is a psychologist by training and it really shines through in this book. Unfortunately, psychology is not sexy to most aspiring traders, so it is usually placed at the end of trading books. It is no different in this book. This being the case, I would actually recommend that you skip to the end of this book and read the psychology section first. It really is that good. There are also other topics such as: But the rest of this book is not chopped liver either. I would recommend reading the entire book from cover-to-cover. Besides the section on psychology, there were two other sections that I found particularly informative. First, the trading strategies are explained very well. They are simple and make sense. Most books just say: But I liked forex fact that this book explains what you should be looking for before the setups without might invalidate them. However, the book doesn't stop there. It goes one step further and encourages you to test the strategies using tools like Forex Tester 2. The trouble that I have with many trading courses is that they expect you to take them at their word that their strategy works. You just have to start trading it and you will be golden. But Strategies have learned from experience that if you do not understand the system well and understand the drawdowns, you will not have the confidence to stick with it. This is what causes people to jump from system to system until they finally think that this Forex trading thing doesn't work. Backtesting can help you really understand how a trading method works. Second, I really liked the way that Alex and Water lay out a road map for deciding when you are ready to move on to the next step. For example, how do you know when you are ready to open a live account? How do you know if you should keep demo trading? They provide very specific parameters that will let you know when you are ready for the next level. Of course these are just guidelines, but they make a lot of sense and give you something to shoot for. Indicators trading is basically their flavor of price action trading. It is when you use price action alone to determine when to enter and exit trades. No indicators and no complicated chart setup. If you have ever been confused by indicators or complicated trading systems that require several different criteria to be met before you can take a trade, then Naked Trading can be a breath of fresh air. I am currently testing some of the strategies myself. I especially like the Trendy Kangaroo. So if this appeals to you, then check out Naked Forex: High-Probability Techniques for Trading Without Indicatorsby Alex Nekritin and Walter Peters. If you prefer using indicators, then this book may not be for you. But if you are looking to simplify your trading and get rid of all of the clutter on your charts, this is a book that I recommend. And I would without that, even if I purchased this book at full price. For more book recommendations, browse the Library and Book Club. Hi, Indicators Hugh Kimura and my goal is to create a full-time income, trading Forex. If that is your goal too, then I invite you to join me on the journey. I will uncover what works and what doesn't Click here to follow me on Twitter. All information is for education purposes only and is not investment or trading advice. July 29, at 5: July 29, at 8: July 17, at 7: The approach in this book is pretty damn indicators the good kind of simple. I really wish I would have read this right after finishing the School of Pipsology the first time. On a side note, this book renewed my interest in Trading Tester. After a Google search for that, I was even more intrigued by a sister product of it called Forex Smart Tools, which is apparently one hell of a product trade log and calculator by the same folks. July 17, at 8: Hey Jake, glad to hear it. Yeah, this is one of the few books that really gives people a grounded and well-rounded Forex trading education. I read a really harsh review of the book on Amazon about they are just self promoters, blah, blah blah. But if people actually strategies the time to study a chart and even just look at generic price action principles, they would see that price action is a legitimate strategy. Thanks for the suggestion on reviewing FST! First because they are like trading systems, they need to be customized to the trader. July 19, trading 1: I think we may have read the same Amazon reviews. I have to admit though, what really made me pull the trigger on this book was the likability I found in Walter in his videos as well as TTL 7 here on this site. But I may be sold on the concept of a dedicated trade logging program if it really is more intuitive and automated. July 21, at Your email address will not be published. Notify me of followup comments via e-mail. You can also subscribe without commenting. Trading currencies or any other financial market involves substantial risk, and there is always the potential for loss. Your trading results may vary. No representation is being made that any associated advice or training will guarantee profits, or not result in losses from trading. Neither the products, any explanation or demonstration of their operation, nor any training held in conjunction therewith, including, without limitation, through blogs or forums, in conjunction with any advertising and promotional campaigns should be construed as providing a trade recommendation or the giving of investment forex. All content on this website is for informational purposes only. Before deciding to invest in foreign exchange or any other financial marketyou should carefully consider your investment objectives, level of experience, and risk threshold. You could sustain a loss of more than your initial investment. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent forex financial adviser if you have any doubts. Start Here Resources Products Blog About. High-Probability Techniques for Trading Without Indicators. My autographed copy of Naked Forex. The Inspiring Story Of How He Quit His Dream Job to Trade Naked For a Trading 3 Reasons Why You Should Read The PlayBook By Mike Bellafiore Immediately X Marks The Spot — Location Independent Living Book Review. Comments nadeem without July 29, at 5: Forex Tester is certainly a must have though. I appreciate the thoughtful comments strategies I hope your trading is going well. Cheers to good trading, Jake. Thanks for the feedback Jake. Leave a Reply Cancel reply Your email address will not be published. Get RSI Alerts Via Email or Mobile Click here to learn more. Academy Resources Products About Contact.
We will be looking at how that happens and what it means in practice.
Nevertheless, it is comforting to know that behind the scenes, Europe, America, Canada, Australia-and all others are behind us in spite of what they say.