Naked Trading Learning

There is a saying that goes "experience is the best teacher." It seems that this saying can be associated with the Naked Trading method. Naked Trading, or trading without using any indicators except for the chart, can be interpreted as trading based on "experience." Whether realized or not, a trader who has been around in the forex trading world has likely used the Naked Trading method at some point. This Naked Trading method can be learned either self-taught or by "mentoring." This article will briefly review the basics and steps to sharpen our Naked Trading intuition.

At first glance, Naked Trading does resemble speculation, but similar does not mean the same. If studied seriously, the naked trading method can provide a more comprehensive understanding of the forex world, as well as increase confidence and discipline towards a tested Trading Plan or a Trading Plan that you have decided to make your trading system. Learning Naked Trading will allow you to experience the ups and downs of the market, thus maturing your trading psychology. Meanwhile, speculation will forever remain speculation. Luck cannot be learned and will not take you anywhere other than just hoping.

In fact, the Naked Trading method is used with various personal considerations. Even professional traders may choose to use Naked Trading rather than conventional indicators, considering it enhances their experience and sharpens their intuition in trading.

There are several steps you can take to learn naked trading:

• The first step is to learn the basics of PASR (Price, Action at Support and Resistance). Start from understanding it to determining the support and resistance levels that align with each trader's understanding.
• The second step is to learn basic candlestick patterns such as Shooting Star, Hammer, BU/BE Engulfing, dark cloud, piercing, and doji. These patterns will be used specifically to identify the market.
• The third step is to start learning about Fibonacci retracement. This is useful for measuring the retracement levels of a trend that has occurred.

Now, once we have mastered these three steps, we can combine them into a simple yet profitable strategy. This is what can truly be called Naked Trading. Quite different from mere speculation, right!?

Your Naked Trading will gain added value if you are also willing to learn how to read price action and how to analyze price movements in real-time trading. The goal is to make the most of the time rather than just waiting for indicators that sometimes provide signals too late. Thus, your trading approach has dramatically improved, and the experience you possess becomes more valuable as it is complemented by scientific insights.