** A lot of member ask me why call naked trading for the thread title.. Because I used to using naked trading method.. but now seem I'm getting more TA into my analysis.. so no more NAKED.. haha! but I'm not Allowed to change the title anymore.. I'm mainly using trend , PVRSA, Round Number combined with triple screen system
and I would like call it as "ZoomIn Volume System"If you are Sonic R System big fans welcome to join me with analysis
1stly I would Like to Thanks the founder of Forexfactory, Sonicdeejay , Traderathome and all the members at Sonic R system. This thread really help me a lot in the trading journey.. up and down.. Now I'm still learning to trade.. hopefully all master join me and contribute your thought as well! Happy Trading!
I mainly analyse based on Support and Resistant, Volume, Candle PA, Round numbers
3 BASIC TRADING TOOLS
1. trend
2. support / resistance levels / price pivot zones/ round numbers (to see the manipulation)
3. PA
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Price patterns, combined with volume analysis, were also used to determine if the trade would be kept open. Some of the criteria used to determine if we were in the right position were:
- Increased volume on breakout.
- The first few days after the break prices should move in the breakout direction
- A normal reaction occurs where prices retrace somewhat against the trend, but volume is lower on retracements than it was in the trending direction.
- As the normal reaction ends, volume increases once again in the direction of the trend.
Deviations from these patterns were warning signals and, if confirmed by price movements back through pivotal points, indicated that exited or unrealized profits should be taken.
- Trade with the trend. Buy in a bull market, short in a bear market.
- Don't trade when there aren't clear opportunities.
- Trade using the pivotal points. (Learn how to spot the pivot point from which a new movement will emerge; read Find A Trend With The Partial Retrace.)
- Wait for the market to confirm opinion before entering. Patience leads to "the big money."
- Let profits run. Close trades that show a loss (good trades generally show profit right away).
- Trade with a stop, and know it before you enter.
- Exit trades where the prospect of further profits is remote (trend is over or waning).
- Trade the leading Currency in each sector; trade the strongest Currency in a bull market, or the weakest Weak in a bear market.
- Don't average down a losing position.
- Don't meet a margin call; close the position instead.
- Don't follow too many Currency Paired.
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PVRSA
Price
-price rejection
Naked Forex High-Probability Techniques for Trading Without Indicators by Alex Nekritin
candlesticks made easy
Volume
Exhaustion volume
Increase volume at S &R / whole,half, quater number
S&R
Breaks off support and resistance are generally confirmed by big bars or a big bar, so if you see one on a line you know the “trend” has probably changed.
Price does not like support or resistance levels. It mostly tests them and then moves away quickly. You’ll rarely find much price action in the vicinity of the line. If price is hanging around a support or resistance level, it’s likely to break in the opposite direction.
3 touches of the trendline which to me acts as a very strong support.
You need at least three touches (or points in a line) to confirm that it is a support or resistance level. Two is not enough. If the price action moves away fast from the line connected by these points it’s probably the dying gasp, but don’t trade until you hit that line again.
Trendline
The steeper the line the shorter it lasts, keep your stops tight if it moves away quickly. Keep your stops just above (resistance) or below (support).
BreakOut
The price will always move back towards the support or resistance to test it, if there’s been a sizeable move, wait for the consolidation to bring it back to the line, then trade.
HEDGING (Method from others FF member)
*but i forgot from which thread..sorry ..
This strategy was invented by me as an alternative to "hedging" which was often discussed on Forums as a panacea to a losing trade.
"Hedging " to me is simply hiding a loss under another opposite trade...and sooner or later, when the hedge comes off, there is an ugly loss exposed...I don't like that concept !!! (However, to those who use them, I say, different strokes for different folks...that is, its a personal choice).
Currently, this is what seems to happen to some Traders...
1. you put a trade on and you put a stop loss of around 40- 50 pips
2. the market goes against you (horrors....I was wwwwwrong !! )
3. let the market continue...it will probably go say another 30 - 100 pips past your stop...who knows ???
4. FINALLY, the market comes back around and starts to head in the opposite direction
5. by now you are totally hacked off with the market and you let it go
The solution that that I found is a pretty simple one but one that has to be executed without fail...
Scenario 2
That strategy is:
1. you put a trade on and you put a stop loss of around 40- 50 pips
2. the market goes against you (horrors....I was wwwwwrong !! )
3. let the market continue...it will probably go say another 30 - 100 pips past your stop...who knows ???
4. PUT AN ORDER IN AT THE EXACT SAME FIGURE AS YOUR STOP LOSS (if you were originally "short" then place a "short" order) This ensures that when the market comes back, as it invariably does, you have a DEFINATE order in place to put you back in the market where you were originally...and you are now in the same direction as the market is moving..
5. FINALLY, the market comes back around and starts to head in the opposite direction
6. The market picks you back up on its new direction
7. THE ADVANTAGES OF THIS (THEORETICAL) STRATEGY IS THAT
a. IT HAS AN EFFECTIVE AND DISCIPLINED COURSE OF ACTION
b. IT GIVES YOU A SPECIFIC "ENTRY" POINT
c. IT REDUCES LARGE DRAWDOWNS
d. IT PUTS YOU BACK IN THE MARKET EXACTLY WHERE YOU GOT OUT
I know that there are DISADVANTAGES with this strategy, buy I think that the overall effect of the advantages outweigh the disadvantages.
I also think that this strategy is more appealing to my business sense of minimising risk than the original concept of "hedging" that initially set me off to discover an alternative strategy to hedging.
I have now been using this strategy for a couple of months and it is working brilliantly.
PLEASE NOTE: I am a medium to long term trend trader. The above method works best on those time frames. It works less well on short term time frames because of the volatile "noise" in the market.
When a stop loss has been triggered, I allow it to go past my SL by a minimum of 50 pips before I set the new order.
When the market has turned and is coming down in the "trend" direction, my order is then opened.
Try it...you will be surprised how good it is.
The key advantage is that you are not tempted to "hang on" to a losing trade....and therefore your drawdowns are minimised.
However this is a "default" trade. It is NOT the prime strategy to use.
DO NOT LOSE SIGHT THAT the prime strategy is to trade medium/ long term and trade with the trend, with a trailing stop.
