Naked Forex: High-Probability Techniques for Trading Without Indicators (Alex Nekritin and Walter Peters, 2012)

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Strategies
  • The last kiss: wait for retest before placing your trade in a drift (type 4) price action.
    • There will be a breakout after the retests.
    • Do not enter the market too quickly as there will be fake-outs.
    • Take profit and stop loss at half of the drift (type 4) length.

  • The big shadow: engulfing candle (reversal).
    • Bearish candle bigger than bullish candle or bullish candle bigger than bearish candle.
    • The bigger is more powerful.
    • Stop loss after the wick.

  • Wammies and moolahs: double bottom and double top (reversal). 
    • The next test should be at least 6 candlesticks apart.
    • Stop loss at the end of the double bottom or double top.
    • Take profit after the next zone.

  • Kangaroo tails: long doji (reversal, type 2 & 4).
    • Market has gone too far and reversing its course.
    • Open and close should be within the previous candle, or it will just be another "runaway".
    • Stop loss after its tail and take profit in the next zone.

  • Trendy Kangaroo (type 1)
    • If the kangaroo happens in a strong trend, go with it.

  • The big belt: accumulation or start of the week (reversal).
    • Bullish: open near low and close near the high.
    • Bearish: open near the high and close near the low.
    • Stop loss after the wick, take profit in the next zone.
Stages
  1. Identify the trade opportunity: Weigh risk to reward.
  2. Create a trading plan: follow trading system rules.
  3. Enter the trade: enter the market at a price that confirms the value of the trade opportunity.
  4. Manage the trade: use Market Biofeedback to adapt to new market information.
  5. Exit the trade: make money from the trade.
  6. Learn from the trade: identify weaknesses in stages 1–5.

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