Books Naked Forex: High-Probability Techniques for Trading Without Indicators Book by Alex Nekritin and Walter Peters

Naked Forex: High-Probability Techniques for Trading Without Indicators

By Alex Nekritin and Walter Peters

Overview

Naked Forex introduces a streamlined approach to trading by discarding technical indicators and focusing exclusively on price action. The book argues that all indicators are derivatives of price, and by observing raw price charts, traders can make more informed and timely decisions. This method strips trading down to its essentials, emphasizing the importance of understanding market structure, support and resistance, and candlestick behavior for high-probability trade setups123.

Core Principles

Price as the Ultimate Signal:
The book asserts that price itself—rather than lagging indicators—offers the most direct and reliable trading cues. All indicators are ultimately derived from price, making them redundant for many setups142.

Support and Resistance Zones:
The identification of these key price levels is fundamental. Price often reacts decisively at these zones, signaling shifts in market sentiment and providing entry and exit opportunities12.

Market Memory and “Scars”:
Markets have memory; areas where price has previously reversed or consolidated leave psychological "scars" or zones that influence future price action. Recognizing these helps traders forecast likely movement1.

Candlestick Patterns & Market Structure:
Rather than relying on moving averages or oscillators, naked traders focus on specific price patterns—such as pin bars, engulfing candles, and inside bars—to anticipate reversals and continuations532.

Key Naked Forex Trading Strategies

Bullish and bearish versions of each pattern provide a complete high-probability framework for both directions63.

Advantages of Naked Forex Trading

Clarity and Simplicity:
Eliminates conflicting signals and clutter, allowing focus on what matters: price movement25.

Faster Reaction Time:
Price-based setups can be executed in real time, without waiting for lagging indicator confirmation52.

Improved Market Intuition:
Traders develop a deeper feel for market behavior by observing price interactions at key levels43.

Adaptability:
Works across various timeframes and markets, from intraday to swing trading, and is effective for high-impact news events as well57.

Practical Guidance

Start with a Clean Chart:
Remove all non-essential lines and indicators. Focus on clear price action.

Mark Key Zones:
Identify major support and resistance areas where price has historically reacted.

Watch for Price Patterns:
Use candlestick signals (e.g., pin bars, engulfing candles) at these zones for entry triggers.

Wait for Confirmation:
Enter on clear rejections or breakouts, using strategies like “the last kiss” or “kangaroo tails.”

Risk Management:
Maintain tight risk controls—naked trading requires discipline and defined exit points, as misreading price action can be costly57.

Who Should Read This Book?

Traders frustrated by conflicting and complex indicator-based systems.

Anyone seeking an intuitive, price-centric approach to forex.

Novice and experienced traders looking to demystify and streamline their process.

Notable Reception

Naked Forex is highly recommended for demystifying price action and empowering traders to trust their skills in reading the market directly. It is especially valuable for those seeking to break free from over-reliance on indicators and develop true chart-reading confidence632.

1 BOOK