The Naked Way to Trade the Forex Market

I know that many struggling traders will do just about anything to make money in the forex market. So when I suggest trading naked, I don't mean stripping off all your clothes (although if it worked, I'm sure you'd try it, right?). I mean stripping off all your trading indicators. This is what many purists in the technical trading community call, trading naked. From experience, I can tell you, once you trade naked, you never go back.

You do get to see the market in all its glory. Its like eliminating all the useless filler and just being left with the meat of the market.

If you think about it, trading without indicators is just like eliminating the middle man. Instead of the indicators telling you what the market is doing, you can see it for yourself.

For some reason, people feel as if an indicator has some sort of insight to the market, that the human brain can't comprehend. That's rubbish.

First off, indicators have absolutely no flexibility. They are just a static formula that is used over and over again, irregardless of market conditions. You, on the other hand aren't as stubborn. You can understand the complexities of the market (even though you may not think you can).

Just put it to the test. Next time you are using indicators, ask yourself "what is this really telling me about the market?" For example, if you are using Stochastics, and it currently shows that currency pair is oversold, is that what's really happening in the market? Can something like that even be measured? Don't just accept it, because you were taught that if a stochastics goes under the magical level of 20, it means the market is oversold. Question your indicators. It's the only way you'll grow as a trader.

John Templeton has been a successful forex trader after learning how to trade price action. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared.

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