Hi everyone, i am a beginner of the forex market, i have be learning the ‘‘nuts and bolts’’ of how it works for the last year and half. I haven’t started any demo accounts or traded yet, i am in the proceed of setting up my forex tester 3 , for back testing.
What impress me is naked trading , i am currently working through the naked trading book by Alex Nekritin and Walter Peters .What i would like to know is , where can i find a list of strategies for naked trading, their are some strategies in the book i.e the last kiss, the big shadow, kangaroo tail. i would love to have more , to practice back testing
cheers david
1 Like
There’s no shortage of trading strategies that will work in forex, actually there are too many to start with a bottom-up approach and list them all, then try to identify the best performer.
I suggest start with a top-down approach -
are you a day-trader or a multi-day trader?
Then try some strategies on demo or paper trading or back-testing to see how you feel and react to failed set-ups, draw-down, risk management etc. e.g. -
trend-following strategies are low-risk but can be infrequently available and demand holding and pyramiding winners
reversal or break-out strategies can be short holding periods and can deliver dramatic wins, but suffer from a high signal failure rate
very fast day-trading demands constant screen-watching fast reactions and ruthless cutting of losers
the one trade per day day-trading approach is less time-intensive and easier to manage, but demands you walk away from the screen after the trade for the rest of the session
etc. etc.
Beware that what some people promote as a strategy is actually just an entry signal set-up. This is useless without risk management and understanding of exit practices.
3 Likes
Really, naked trading or Price Action trading is the most interesting one! But I never read that trading eBook! By the way, Price Action doesn’t mean only few specific structures; it’s all about the full structure of market chart! Keep digging more info about this technical analysis.
1 Like
thanks for the information,there are areas to work through, to decide what best for me , in to approach my trades
there are some good naked trading strategies on the site “netpicks” dot com
quite a messy site but some good content there if you look around