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Naked Forex: High-Probability Techniques for Trading Without Indicators

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Arrives Tuesday, Nov 19
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Publisher ‏ : ‎ Wiley; 1st edition (March 6, 2012)


Language ‏ : ‎ English


Hardcover ‏ : ‎ 288 pages


ISBN-10 ‏ : ‎ 1118114019


ISBN-13 ‏ : ‎ 18


Item Weight ‏ : ‎ 1.04 pounds


Dimensions ‏ : ‎ 5.9 x 1.1 x 8.9 inches


Best Sellers Rank: #35,616 in Books (See Top 100 in Books) #11 in Foreign Exchange (Books) #17 in Futures Trading (Books) #60 in Economics (Books)


#11 in Foreign Exchange (Books):


#17 in Futures Trading (Books):


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Top Amazon Reviews


  • Some argued that the stuffs in the book is easy to find all over the internet
Well, when we want to write a review we must go into the details and mention the technical points of the book and its pros and cons specifically: I have read some of the reviews. Some argued that the stuffs in the book is easy to find all over the internet, like kangaroo tails are hammers and shooting stars, big shadows are classic engulfing patterns and so on. That's right; but as a trader who just found his way into decent profiting after struggling for 5 years I must say that one mistake many make is they tend to brag about their system: fancy indicators on the charts, ellliot waves theory and so on.. But at the end of the day the goal is just to make money and what I found during these years is that the best way to make money is sticking to price action, support and resistance and trading higher time frames (H4 at least). Even the experienced traders can learn one or two good insights from the book that although they seem nothing special they are very helpful in filtering the bad trades for them, and also psychology part is very straightforward and practical. In summery here are the positive and negative points of the book in my view: Positive Points: 1. This book is straight to the point and practical and very easy and fun to read. 2. The focus on candlesticks and price action (most of the refined classic setups mentioned there are great) for a novice trader instead for indicators is priceless. 3. The psychology part is also very direct and practical specially the pressure the author put on back testing (He even says back test my ideas first). 4. Author insisted that trading higher time frames are easier and more profitable to trade an that's 100 percent true. Negative Points: 1. I don't agree with last kiss setup and wammies and moolahs (I think they are not as strong as the other setups because the focus is more on the zones instead of candlesticks in these two setups). 2. Author must mentioned the use of multiple time frame analysis in the setups for completing his ideas. 3. He must mentioned the importance of some news like NFP that may destroy technical setup in a part. I think everyone must read this book but for novice traders it would be a great shortcut to profitable trading. ... show more
Reviewed in the United States on September 2, 2017 by Faraz Noorani

  • Don't Do It
Don't waste your time. This book should be all of $15, and it's shameful that they're pushing this out as if it's something amazing. Save your money and check out YouTube for free.
Reviewed in the United States on June 29, 2020 by B.R.

  • I've learned a lot
I bought this book to gain a better understanding of price action, but I've gained a whole lot more, and a lot of the material in this book invaluable. I knew that backtesting was important, but this book helped me truly to understand why it's absolutely essential for trading. I started just skimming this section, but I soon realized just how important it was. Ditto for the section on support and resistance. I mean, everyone already knows about that. But the tips in the book were very insightful and I couldn't imagine trading now without them. The book has also (as I was hoping) improved my understanding of price action. The explanation of 'engulfing candles' ('the two candlestick formation') is the best I've seen and I'm using the checklist to backtest with very impressive results so far. I'm looking forward to backtestng and demo trading the other strategies in the book. There is also a video that accompanies the course, which is accessed online. I haven't watched it yet as I wanted to do some backtesting first. I'm grateful to the authors for making this material available. ... show more
Reviewed in the United States on October 17, 2020 by DeanF

  • Successful forex trader says do not buy this book
Good beginner information, but you can find all this information for free online. Do not purchase this book, just google price action trading.
Reviewed in the United States on August 7, 2018 by Lucas Hoberg

  • Peters' Value-Added is in the little tweaks of old stuff
Much has been made about the techniques being presented as being simply very old price action trading renamed. That doesn't do this work justice. I had long ago tried price action trading and given it up as "not working". The value-added in this work is in the little tweaks applied to the old techniques, that, in my opinion makes them quite viable, eg, additional qualifiers on the pin bar or "kangaroo tail" as it were that makes it a much higher percentage play. It's possible those tweaks are available elsewhere, but I haven't seen them. I've demo traded this method successfully and gone on to live. While the other knock on this is the links to Peters' course work, the book by itself is self-contained, in my opinion. Any additional courses are unnecessary if you can understand and apply the book. All in all: superb and valuable. ... show more
Reviewed in the United States on January 26, 2015 by A. Cohn

  • Dry in tone, but contains useful knowledge.
Positives: Provides actual, simple and executable strategies, with clear descriptions, examples, and rules for entries, exits, stops, and Targets, including examples of when the strategies could backfire if used incorrectly and why. Good reading for the novice or middling investor especially. Several of the setups for strategies, while containing candlestick formations which may be familiar to someone with experience, were unique in terms of how they were identified. Negatives: The writing is dry and often very redundant. While I think he was trying to drive his point home through repetition, it often puts me to sleep. The author, also, uses his own names for candlesticks, like “kangaroo tail” (aka hammer or shooting stars) and big shadows (aka engulfing candles) rather than using the already widely accepted names in trader vernacular, which can be somewhat confusing at times (as in, “wait what was the kangaroo tail again?” Oh yeah, he means hammer candle.) Overall Impression: While I’ve yet to backtest the strategies laid out, the examples were useful, and sparked new ideas. Most traders or those looking to get into trading will probably find this worthwhile reading. ... show more
Reviewed in the United States on February 20, 2021 by The Constructive Critic

  • wonderful trading book with a focus on psychology
I really enjoyed this book and found some of its systems to be useful. What's more useful is the sections on psychology. Provides insights into the state of mind one should be in to trade. I appreciate that it puts an emphasis on back testing. I think that's a very important thing.
Reviewed in the United States on August 7, 2019 by c

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