explanation on naked trading

[Jack Francisco]

Naked trading is trading without any indicator on your chart. You only use the chart style you're comfortable with whether it be the line or bar or candlestick chart.
To be able to effectively trade with naked chart you have to have a good knowledge of support and resistance as well as thorough knowledge of candle formations and candle patterns.

 

[robster970]

I have several questions:
1. what's the difference between candlestick patterns (engulfing, harami, etc) and chart patterns (falling wedge, head and shoulders, etc)? how do they relate to each other? or are they not related at all?
2. how do we determine support resistance zones?
3. what is fibonacci pattern? what's its purpose? to determine S/R, or are there any other usefulness?
thanks

All these things you are talking about are derivatives of price and it's associated movement over time. It is all underpinned by a continuous auction process. If you understand the auction process and how it relates to prices, fibs, patterns, ma's, etc all become academic.

Support and resistance is a phenomena, again, associated with what happens in the continuous auction process when price hits levels where people have traded/nobody wants to trade. Again it is all about the auction.

 

[FringFX]

Really? I see about 4 or 5 trades on that chart, lol.

hmmmm.... probably the last trade was the most profitable?
i guess you are a 'scalper'

wait, I now think the candles are too big, that chart was zoomed in too much. my eyes were tricked. lol

 

[FringFX]

I hope you are not using a weekly chart.
Peter

fortunately, no i am not.

 

[FringFX]

I have several questions:
1. what's the difference between candlestick patterns (engulfing, harami, etc) and chart patterns (falling wedge, head and shoulders, etc)?
2. how do we determine support resistance zones?

1. trees vs forest..... the former is the 'trees', the latter is the ''forest'. they are related
2. by spotting them using your eyes

 

[FringFX]

you can really cut down the screen time by buying some extra monitors. Running 4 monitors I was able to cut down the normal 10,000 hours requirement to be an expert down to 2,500 hours

that's difficult if you watch several 1 minute to 30 minute charts

will CRT monitors work just as well as LCDs?