Is Naked trading the last chance saloon?

[virtuos0]

I tend to agree with you dcraig. Surely it's just about finding a way of consistently profiting? Horses for courses and all that. I started out with indies and have gradually moved to a point now where I just look at bunched up grey lines on a chart coupled with support and resistance but, as GJ pointed out, is that even 'naked' in the eyes of a 1930's tape reader? There does seem to be this almost 'snobbery' about 'trading naked' which I'm not sure I totally agree with. I trade the way I do because it's what works for me but I also have full respect for someone using indies - after it's not about what others think but about one's own personal bank balance - surely that's the only vindication one way or the other?

I don't believe that you are vindicated by your bank balance, unless you have quit trading, in which case that money is yours to keep.

If you intend to trade in the future then your vindication comes via bank balance adjusted for future risk. After all, who is in a better position out of these two people:

MAN A: Startedwith a bank balance of £10k. Now 6months later has a bank balance of £30k, trades that balance at 200:1 leverage using an EA bought off the net
OR
MAN B: Started with £10k, now 6months later has a bank balance of £20k, trades with minimal leverage, has studied the markets extensively and devised a strategy to take advantage of a market anomaly.