The ART of Trading: Combining the Science of Technical Analysis with the Art of Reality-Based Trading
As a trading coach and financial advisor, Bennett McDowell has used his own proprietary trading system Applied Reality Trading or ART to enhance the performance of his clients’ portfolios.
Introduction:
The ART trading methodology is built on software recognition of several time-tested patterns that can be easily identified for the user. While they are called specific names in the software, these are essentially breakouts and reversals—the meat and potatoes of technical trading.
The chart patterns identified can be applied to any type of bar chart—daily, fiveminute, weekly, and so on. Moreover, they can be applied to tocks, futures, indices, and forex—or any other market that can be charted.
McDowell outlines the unique benefits of his system and makes the case for trading the reality not the fantasy of financial markets. Readers will discover the importance of simplicity in a trading approach; how to develop “The Trader’s Mindset;” how to use ART(r) technical analysis software; and much more. The ART of Trading will enlighten readers in how to use reality to enrich both their financial portfolio and their own financial psychology.
Contents:
- The Reality of Price and Volume
- Managing Risk: Always Set a Stop-Loss Exit
- Personal Methods to Increase Trading Success
- Identify Your Personal ART Profile
- Design Your Business Plan
- Selecting a Financial Market
- Selecting a Time Frame
- Selecting an ART Platform, Broker, and Data Feed
- Psychology and the Trader’s Mind-Set
- Artistic Simplicity
- The Art of Paper-Trading
- Calculating Proper Trade Size
- Other Formulas and Recipes
- The Human Brain
- ART Is the Total Solution
- Pyramid Trading Points (P and MP)
- Market Truths: Price Bars and Volume
- ART Reversal Bar Signals (1B and 2B)
- Trend-Trading Rules
- Countertrend-Trading Rules
- Scalping Rules
- When to Use Advanced Techniques
- Scaling Out and Scaling In
- How to Trade Bracketed Markets
- Software Optimization and Average True Range (ATR)
- Stop and Reverse (SAR)
- Higher-Time-Frame Filter
- Elliott Wave—Ungrounded Assessment