The ART of Trading: Combining the Science of Technical Analysis with the Art of Reality-Based Trading (Wiley Trading) (Hardcover)

by Bennett A. McDowell (Author), Lawrence G. McMillan (Foreword)
Key Phrases: market truths, stop loss one tick, previous price bar, Pyramid Trading Point, One-Bar Reversal, Two-Bar Reversal (more...)

Editorial Reviews

Product Description
An expert in the field of finance reveals his proven trading system

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. Now 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.

From the Inside Flap

As a trading coach and financial advisor, Bennett McDowell used his own proprietary trading system—Applied Reality Trading® or ART®—to enhance the performance of his clients' portfolios. Now, with this new book, McDowell reveals the unique benefits of his system and makes the case for trading the reality, not the fantasy, of the financial markets.

The ART system is based on reality, and here you'll find the specifics on how to use reality to improve your trading and investing endeavors—whether you deal in stocks, bonds, the Forex market, commodities, or options—and you'll learn how to overcome the volume of information generated by today's markets.

Divided into five comprehensive parts, this reliable resource offers an extensive look at how the ART system and its companion software—which is compatible with a variety of platforms—can help you execute exact trade entries and exits, control risk, and capture consistent profits. Step by step, you'll discover how to:

• Use price and volume, the true realities of the market, to minimize distortions in your financial decision-making

• Combine technical analysis with live streaming market data to excel in your trading and investing

• Select the right financial market and the right time frame for you

• Apply advanced ART techniques to your trading rules, once you've become familiar with the overall system

Benefit from ART Trading Software first hand—a free trial of the software is included with the purchase of this book

While ART adds structure to your trading and investing activities, it can also be tailored to fit your personal style and experience level. You can use ART to trend trade, scalp, or countertrend trade—or you can use it to time your investments. As you'll see, ART is capable of doing all this and much more since it's not a "Black Box" trading system.

It takes both a winning methodology and the right trading software to achieve success in today's markets. With The ART® of Trading as your guide, you'll be introduced to a program that encompasses these essential elements and allows you to take control of your financial future.

Don't forget to view the DVD that accompanies this book. It skillfully illustrates the many concepts that have been presented throughout these pages and brings ART Trading Software to life.

See all Editorial Reviews

Product Details

• Hardcover: 296 pages
• Publisher: Wiley; Har/DVD edition (April 25, 2008)
• Language: English
• ISBN-10: 0470187727
• ISBN-13: 978-0470187722
• Product Dimensions: 9.3 x 6.3 x 1.3 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.3 out of 5 stars See all reviews (84 customer reviews)
• Amazon.com Sales Rank: #71,630 in Books (See Bestsellers in Books)

  Popular in this category: (What's this?)

  #91 in

  Books > Business & Investing > Investing > Options

Customer Reviews

Most Helpful Customer Reviews

25 of 30 people found the following review helpful:

2.0 out of 5 stars Buy the book only if you are buying the Software, June 16, 2008

By	Marcus Fong (Singapore) - See all my reviews (REAL NAME)

What I liked about the book is that it covers all the various aspects of trading, from psychology to money management and explains the true realities of the markets which are price and volume. In his book, McDowell does not lull readers into thinking ART is a "get rick fast" trading system and instead instills the notion of strict risk control and discipline, essentially helping readers to learn how to trade in a market where odds are against traders.
The down side is that the trading ideas in the book are applicable for his software only. Therefore unless you purchase the software, the majority of the book is pretty much just nice to read but not that useful.

12 of 14 people found the following review helpful:

4.0 out of 5 stars Basic Trading Skills with Emphasis on the Software, July 26, 2008

By	Robert J. Mulholland (Franklin Park, NJ United States) - See all my reviews (REAL NAME)

I bought this book with the intent of learning more about the A.R.T. software, which I did. This book has solid trading skill ideas but the emphasis is on their software, which is the primary focus.

I obtained the 30-day free trial and made $1,800 in six trading days day trading the mini-sized Dow futures on a 5-minute chart. The profits so far will more than pay for the software with extra left over.

9 of 10 people found the following review helpful:

5.0 out of 5 stars Sound system, July 26, 2008

By	zephyr "Dan" (BERKELEY, CA United States) - See all my reviews

Though this book is geared toward being a companion manual for the ART system, many of chapters especially on risk and money management can be beneficial to readers nonetheless. For those who adopted the system, this book can certainly give you trading ideas and strategies that matches your style. Recommended.