Day Trading & Forex Forum

kitejedi

Hello there,
I thought I try and get a thread going which focuses purely on clean charts with a couple of lines on them and what I perceive to be simple trading. Sometimes referred to as naked trading I think....

No indicators, MA's, fibs, trend lines, chart patterns, candlestick names, fundamentals, correlations etc. etc. etc.
Just price, support and resistance, higher highs, and lower lows, buying when price is going up and selling when it's going down

A little bit about me. I am very new to trading (less than 1 year) and purely trade as above. I mainly trade cable M5 but am starting to branch out a bit. I am not, and I repeat not, trying to teach anything, or any such nonsense as I am a complete beginner. What I am hoping is that there might be some like-minded souls on T2W who'd like to look at ideas to do with trading this way, different timeframes, markets etc. Some of you will know me from my trading journal but I am hoping that, by starting a thread, I can get better at what I do and learn a bit more. Sadly the place where I learnt most of what I do is a bit too focused on one instrument whereas I am keen to broaden my knowledge and experience to other markets.

At this point I can't go any further without saying a big thank you to Feb - those who know of me know that, to me anyway, he showed the way. That said there are lots of people on T2W who have helped me along the way and I'll try and find some links to stuff when I get a moment.

Anyway - what do I do? Basically I look to identify levels and then trade them. Simple as that. I personally believe that, whilst the market is not random (and every price movement has a reason behind it), it is 100% unpredictable. What this means is I have no expectation or desire to know what will happen next as I can't see into the future. All I do is find a level, generally trade in the existing direction which price is moving in, and see what happens next. To me the 'seeing what happens next' bit is the hardest bit and the one I struggle with the most.

In a nutshell that's it. Hopefully there may be others here who trade the same way who will be interested in contributing to this thread. If I could ask that anyone posting charts etc., please restrict them to horizontal lines and the less of those the better. In other words, keep it simple as I am a simple person.

If no-one is interested in this style of trading then at least I tried!!

Bye for now

Rob

elitejets

I am subscribed, naked is good.

Edit: I just looked down. Naked not always good

Mr10%

Already trying my hand at this: What do you think?

kitejedi

Anyone trading cable the last couple of days will know she's been a nightmare on the lower timeframes - well she has been for me anyway so I thought I'd try cracking a level on H1 and seeing what would happen.

First chart from this morning. Simple bracket orders either side of the range with stops at the other ends.



Long got triggered, am currently offisde by a few pips which I hate, with stop moved to just below the breakout level. Might hold, might not. Am just going to let it run and see what happens...



P.S. Just looked at the chart again and there's a nice opportunity to add if the 1-2-3 triggers. A bit too tempting not to take.

shadowninja

For a moment, I thought you meant you looked down at your naked body and decided naked is not always good.

BTW... if you did look down and you were trading naked... would you see this:

__________________


The markets can stay solvent longer than you can stay irrational.


Check out my blog if you're new to trading or skip the advice and obtain fame and riches beyond your wildest dreams the easy way but you might end up a bit like this.

Paul71

Is that Joe Ross?

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Your trading account tells you everything you need to know about you as a trader and a person

apmf

I am subscribed.

kitejedi

Not much to say here. 1-2-3 might or might not happen. Price is certainly going up as far as I can see. Stop has to go to below higher low because, as far as I understand it, a break of that would invalidate the trend?