How many of you trade naked? First of all, if you are really naked for the sake for everyone around you get dressed. Secondly, most of you know what I refer to and to those who do not: naked trading refers to trading without any indicators, just the chart free of clutter and noise.
I have not tried it, although I do not use many indicators and my charts are almost naked. I did come across a few traders, in real life as well as online, who swear by trading naked and claim it has truly improved their trading.
What are your experiences with naked trading? Did it improve your trading and how?
After failing with use of many indicators finally i have switched to trading with naked charts absolutely no indicators at all and now it has been profitable for me to some extent.
I trade Price Action mostly naked. The only thing I use is a 200 EMA just to see what the present bias is.
The thing about trading this way is that yeah you don’t use additional indicators. However, you’re still using candlesticks and S/R levels as the basis of your trading. So you’re still learning how to interpret the charts, just with a different style of data. I settled on this after trying a few different other indicator-based systems. It still requires a solid degree of work to understand and apply. You have to be very discriminating about what signals to enter on otherwise it won’t be successful either.
It’s not for everyone; but neither is any system. Try it on Demo. Price Action is the most common. There are several extensive threads on it on these forums.
[QUOTE=“mastergunner99;497789”]I only trade naked. Have done so for a few years now. It definitely helps you grasp a better understanding of price movement.
My only indicator is a candlestick.[/QUOTE]
My only indicator is price.
I only trade naked charts now and I find it has really helped me over the last few years.
Many forex traders spend their time looking for that perfect moment to enter the markets or a sign that screams “buy” or “sell”. And while the search can be fascinating, the result is always the same. The truth is, there is little chance of success to trade the forex markets without indicators. if you must be a successful trader you must learn to use a variety of indicators. like technical analysis for instance, involves the use of technical indicators to predict the price movement of a currency.
Indicators are useless, therefore trading naked should be prferred. You don’t need a MACD to tell that market has been trending or that there is divergence. You don’t need to put RSI on your chart to tell whatever is shows oversold or not.
Same patterns come again and again… but never exactly the same. One should try to recognize these patterns, analyse them to list hypothesis, rules and guidlines, then apply your idiolgy in real life and constantly improve.
Hey, but I am not saying you will make money just because you don’t use indicators.
I also do naked trading. But trading naked without the use of strict money management, risk control and discipline cannot help you. With these things, you can succeed with indicators; and without them, you can fail with naked trading.
That is your opinion while others have a different approach. There is no one right solution to trading. Every trader is different so to say that a traders needs to use a certain approach is misleading.