Hi everyone! I am looking to meet up with/ form a team with fellow “naked” traders (without indicators). If this is you let me know!
I use just a couple of EMA’s, no off-chart indicators. I usually just trade long-term off daily charts only.
Hi there ! I trade momentum and breakouts on the D1, H4 & H1. I sometimes use the fib tool but don’t really use any indicators.
I’m mostly trend lines and momentum. I often use MAs.
Hi and welcome.
I imagine a naked trader is one who does not set a stop loss. That is how I currently trade crypto. No stop loss, no leverage.
By the way, have you read the book on the stock trader called “The Naked Trader”? He actually trades wearing no clothes, but his technique reminds me of maintaining a Motley Fool portfolio. And if I am not mistaken anyone who would have followed Motley Fool for 20 years would not be complaining about the outcome.
I had seen that book, but decided to hold out. I have several books to catch up on first.
Also, I’m very happy with my strategy for now, and I’d like to get more comfortable with it before I start reading another book about techniques.
What are we gonna do now that we’re together?
What kind of team?
Keep bouncing the ideas. The last time I owned publicly listed shares was when I was assigned in the Philippines (1979). I went along with a couple of American engineers to the local Merrill Lynch broker in Manila and bought $8K of IBM shares because the broker said “you can’t go wrong with IBM shares”. Well they sure suckered me. About six months later they were down a grand when annual inflation was running about 20%, and I was off to Brunei. So I closed the account and thought “there must be a better way to make money than to buy stocks and shares”. Green behind the ears would be a good description of my financial acumen at the time. As with some of my other pursuits, learning about Forex trading, in particular risk management has helped me hugely, if not to become a successful Forex trader, to move our portfolio to a less risky base during the past decade.
Naked Trader is one of those future interests if we get anywhere near the mid-six figures in Crypto
I trade without indicators - but a meet-up may be a little hard because a) I live in Thailand, and b) traveling across borders is still far from normal.
More than happy thought to discuss naked trading with you although I’d rather trade in my PJs personally.
I doubt there is any trader who doesn’t use an indicator to trade. I would love to know if there is anyone who doesn’t. I am curious to know how they make their decisions. I can’t think of opening a new position without getting signals from RSI.
Heh Heh - Last time I owned shares - i Bought £10,000 in a firm called Marconi at 20p ! - A few weeks later I bought another £5000 at 6p.
You got out with a pretty cheap first lesson - IMO @Mondeoman
OMG. Yes, I got out of that one with a cheap lesson. Marconi was where I did my engineering apprenticeship (thick sandwich course) before I went to Uni. Writtle Road, Chelmsford, and Baddow research centre outside Chelmsford. For a 19 year old, it was a real laugh. But my best mate and I still had to subsidise our pittance of a wage by cleaning windows 2 nights a week and all day Saturday. It is then we realized that: (a) you can do more than one job at once, and (b) you get paid more for cleaning windows than you do for training to be an engineer. What is wrong with this country?
Perhaps if you 2 had spent less time laughing - I might have made some money on that one ! Ok - "Made a note of your name" (Mike Harding ?)
Another one where I disagree with you (UBI was the other) - But lets not argue about that here - A different thread perhaps ? - If I ever get around to posting it - I intend to do one called “Arithmetic” - which for our Colonial Brethren means “Simple Maths” which might be a suitable forum for that discussion.
I think there’s quite a few out there. Maybe not as active in the forums. Here’s a book describing a naked trading approach
The 3rd part on psychology is really good I felt and I found out later one of the authors has a degree in psychology and is a fan of another popular psychiatrist trader, Alexander Elder.
From this book:
“Indicator-based trading is taking a wristwatch and changing the time with a complex formula in the hopes that the wristwatch will somehow tell time better.”