• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Trading Heroes

Forex Trading Education

  • About
  • Articles
  • Resources
  • Shop
  • Login

Naked Forex: High-Probability Techniques for Trading Without Indicators

Naked Trading is not just something that you do alone in your basement. It is a trading book by Walter Peters and Alex Nekritin that teaches a refreshingly simple trading strategy. If you have ever been frustrated with using indicators, this book just might be what you have been looking for. Find out what I thought about the book.

Home / Trader Life / Naked Forex: High-Probability Techniques for Trading Without Indicators

Last updated: August 11, 2022
By Hugh Kimura

Walter Peters Forex Trading Books
My autographed copy of Naked Forex

This is a book that I have been wanting to read for awhile, but it always seemed to get pushed down my reading list. Well, it got pushed all the way back up to the top when I received a box from none other than Walter Peters.

If you have never heard of him, I interviewed him on the Podcast in Episode #7 and he is currently the most watched interview on the Trading Heroes YouTube channel.

Before I begin the review of this book, full disclosure…yes, I got this book for free and I do make a small commission if you purchase through this page.  But I would not review this book unless I thought it was well worth reading.  I don't have time to spend on writing reviews for crappy books…period. To see more books I recommend, check out the Library and Book Club. 

The Most Important Section Of This Book

Let's start at the top.  Walter is a psychologist by training and it really shines through in this book.

Unfortunately, psychology is not sexy to most aspiring traders, so it is usually placed at the end of trading books.  It is no different in this book.

This being the case, I would actually recommend that you skip to the end of this book and read the psychology section first.  It really is that good.

In particular, I liked what they write about the “circle of doom.”  I see so many traders get trapped in it and I have been in it myself. There are also other topics such as: runners/gunners, gaining confidence and becoming an expert, which I found very useful.

RELATED: Positive affirmation tracks to reprogram your subconscious

The Rest Of The Book

But the rest of this book is not chopped liver either. I would recommend reading the entire book from cover-to-cover.  Besides the section on psychology, there were two other sections that I found particularly informative.

First, the trading strategies are explained very well. They are simple and make sense.  However, what I liked the most is that the book takes the time to explain the reason behind why they work.

Most books just say: look for this setup…then do this.  But I liked the fact that this book explains what you should be looking for before the setups that might invalidate them.

However, the book doesn't stop there. It goes one step further and encourages you to test the strategies using tools like Forex Tester 2. The trouble that I have with many trading courses is that they expect you to take them at their word that their strategy works.  You just have to start trading it and you will be golden.

But I have learned from experience that if you do not understand the system well and understand the drawdowns, you will not have the confidence to stick with it.  This is what causes people to jump from system to system until they finally think that this Forex trading thing doesn't work.  Backtesting can help you really understand how a trading method works.

Second, I really liked the way that Alex and Water lay out a road map for deciding when you are ready to move on to the next step.  For example, how do you know when you are ready to open a live account?  How do you know if you should keep demo trading?

They provide very specific parameters that will let you know when you are ready for the next level.  Of course these are just guidelines, but they make a lot of sense and give you something to shoot for.

What Is Naked Trading Is Appealing And Why Do It?

Naked trading is basically their flavor of price action trading.  It is when you use price action alone to determine when to enter and exit trades.  No indicators and no complicated chart setup.

If you have ever been confused by indicators or complicated trading systems that require several different criteria to be met before you can take a trade, then Naked Trading can be a breath of fresh air.  I am currently testing some of the strategies myself.

Their strategies include: The Big Shadow, Wammies /Moolahs and more. I especially like the Trendy Kangaroo.

Conclusion

So if this appeals to you, then check out Naked Forex: High-Probability Techniques for Trading Without Indicators, by Alex Nekritin and Walter Peters.  If you prefer using indicators, then this book may not be for you. But if you are looking to simplify your trading and get rid of all of the clutter on your charts, this is a book that I recommend.

And I would say that, even if I purchased this book at full price.  For more book recommendations, browse the Library and Book Club.

Related Articles

  • Walter Peters (Naked Forex): The Inspiring Story Of How He Quit His Dream Job to Trade Naked For a Living // EP7
  • Best TradingView Indicators for Day Trading Forex
  • Forex Patterns and Probabilities is a Trading Book You Must Read
  • Advanced Trading Psychology: The High-Performance Trading Toolbox
  • 5 Simple Ways to Find a High-Quality Trading Accountability Partner
  • How to Install Custom MT4 Indicators in Forex Tester 5

Category: Trader Life Tag: Trading Book Reviews

About Hugh Kimura

Hi, I'm Hugh and I'm an independent trader. Before starting Trading Heroes in 2007, I used to work at the trading desk of a hedge fund, for one of the largest banks in the world and at an IBM Premier Business Partner.

Learn more about me here and read more of my articles here.

Primary Sidebar

Trading Guides

How to Backtest a Trading Strategy in Any Market

The Heroic Guide to Forex Hedging for Beginners

How to Figure Out Your Trader Personality Profile

The Forward Testing Guide for Beginners

How to Create a Precise Trading Plan (with PDF worksheet)

About Hugh Kimura

 About Hugh Kimura

Hi, I'm Hugh. I'm an independent Trader and I started Trading Heroes in 2007.

Before starting this site, I worked at the trading desk of a hedge fund, at one of the largest banks in the world, and at an IBM Premier Business Partner.

Learn more
FREE Forex Hedging Guide
Forex Hedging Guide
Learn how Forex Hedging really works.

Download Now

Footer

Company

  • Trading Courses and Education
  • Trading Blog
  • About
  • Contact
  • Beware of Imposters

Articles

  • Backtesting
  • Etheric Finance Podcast
  • Forward Testing
  • Funded Trader Programs
  • Podcast
  • Trader Life
  • Trading Psychology
  • Trading Software Tutorials
  • Trading Strategies

Community

  • YouTube
  • X
  • Instagram
  • Facebook

Trading involves risk and can result in the loss of your investment. Invest at your own risk. Past performance does not guarantee future results. All information on this site is for informational purposes only and is not trading, investment, tax or health advice. The reader bears responsibility for his/her own investment research and decisions. Seek the advice of a qualified finance professional before making any investment and do your own research to understand all risks before investing or trading. TrueLiving Media LLC and Hugh Kimura accept no liability whatsoever for any direct or consequential loss arising from any use of this information. This site is reader supported. When you buy through links on our site, we may earn an affiliate commission. As an Amazon Associate, we earn from qualifying purchases. You are more powerful than you know, keep expanding.

 

Copyright © 2007–2025 TrueLiving Media LLC | Terms | Privacy | Risk