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Trading Without Fear: Eliminating Emotional Decisions with Arms Trading Strategies

ISBN: 978-0-471-13748-1
240 pages
August 1996
Trading Without Fear: Eliminating Emotional Decisions with Arms Trading Strategies (0471137480) cover image
"The key to investment success, if there be just one, is the ability to remain emotionally detached. That detachment is only achieved through confidence. That confidence is only arrived at through knowledge. That knowledge is arrived at through thought, study, hard work, and experience. In this book, I will try to impart the knowledge and experience I have acquired over the last thirty years." -- Richard Arms from the Introduction to Trading Without Fear

Richard Arms' revolutionary theories have changed the way investors perceive the market. His expertise in the field of technical analysis has had significant impact, evidenced by the fact that his Equivolume charting system is now part of the most popular stock and futures software, and his Arms Index--also known as the Short-Term Trading Index or TRIN--has become one of the most important technical tools of Wall Street.

In Trading Without Fear, Richard Arms shows investors how to make sound investment decisions "without succumbing to those two very powerful emotions": fear and greed. Learning to control those emotions in ourselves--while recognizing them in others--empowers us to capitalize on that knowledge. The result is informed investment choices, tempered by caution, and fueled by confidence and a strong desire to succeed.

Arms' cogent examination of leading strategies will enable the average investor to master successfully what is widely regarded as one of the most reliable methods of long-term market forecasting: volume analysis. Volume analysis is rooted in a seminal Arms theory--that volume plays as significant a role in understanding the markets as price movement. And volume is affected by the emotions at work in the marketplace. "The market is very complex. It is pushed one way or the other in varying degrees as a result of individual decisions of millions of participants. Some of those partici-pants are acting logically and others are acting emotionally...it is the volume which is giving us the real picture of the emotions in the marketplace. Price tells us what is happening, but volume tells us how it is happening."

Trading Without Fear offers investors a trading discipline with in-depth coverage of:
* Technical vs. fundamental analysis
* Equivolume charting and the importance of the "Power Box"
* Ease of Movement and Volume Adjusted Moving Averages with new information not available anywhere else
* Market tides--VAMA and cycles
* The mechanics of buying
* Selling short--how and when to do it
* Closing out short positions


With his succinct analytical skills and unique approach, Richard Arms makes sophisticated investment strategies accessible to everyday, individual investors.

Trading Without Fear

"Mr. Arms elegantly combines many different aspects of volume analysis in this book. Volume is related to stock market breadth via the Arms Index, and to price via Equivolume charting. Volume Weighted Moving Averages and the Ease of Movement Indicator complete the picture. If you are interested in how to quantify the driving force of the market, this book is for you." -- John Bollinger, CFA, CMT President, Bollinger Capital Management Editor, The Capital Growth Letter

"Analysts and traders will acquire confidence and control fear through carefully studying and applying the unique insights available in Trading Without Fear. This book sums up much of the inventive genius of Richard Arms, the 1995 winner of the coveted Market Technicians Award. The famed Arms Index and other unique indicators including Equivolume, Ease of Movement and Volume Cyclicacity are presented in clear terms and in a logical progression filled with penetrating insights into how to profit in the market." -- Henry O. Pruden, PhD Professor, Golden Gate University Executive Director, Institute for Technical Market Analysts
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Why Technical Analysis?

The Arms Index.

Equivolume Charting.

Ease of Movement.

Volume Adjusted Moving Averages.

Market Tides--Price and Volume Characteristics.

Market Tides--Equivolume and Ease of Movement.

Market Tides--VAMA and Cycles.

Knowing Your Market.

Long-Term Arms Index.

A Stock to Buy.

The Mechanics of Buying.

Now You Own It.

Looking for Short Sales.

Closing Out Short Positions.

Other Markets.

Conclusions.

Index.
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RICHARD W. ARMS, Jr., advises institutional investors, publishes his investment advice, and manages investment portfolios from his office in Albuquerque, New Mexico. Mr. Arms strives for capital appreciation through the use of his unique technical tools. The Arms Index appears daily in the Wall Street Journal and crosses the ticker tape once each minute on CNBC. He is the author of three previous books: The Arms Index, Volume Cycles in the Stock Market, and Profits in Volume.

His World Wide Web address is: (www.Equivol.CypressPoint.com).
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