Customer Reviews

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

5 star:		(55)
4 star:		(39)
3 star:		(5)
2 star:		(2)
1 star:		(5)

 

 

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.

After reading many reviews posted for this book, I became suspicious that some of these reviews were posted by the same person. I randomly investigated several the reviews & reviewers. What I found is that at least 4 of them had exactly two reviews and both of the reviews were for the same two books (this book and the author's other book, what a coincidence). For instance, T. Sonia (Hong Kong), Calvin Choy (Singapore), and zephyr "Dan" (California) are very likely the same person with different profiles, which can be changed. There are two other reviews that are just like that too. All of them gave 5 stars for both books lol. If you really want to read a true reviews, read those that are 3 stars or less. For instance, read Duane Phillips' and Don Catt's reviews. This book is basically a user manual for the author's trading software called ART. The software is selling for $2500.

The "ART" of Trading is a book that teaches how to use the ART SOFTWARE that you'll also need to buy. This should be clear in the title. Some people could buy the book without this warning!!!

a complete waste of money.
Only infomercial
i strongly suggest not to buy it.

As a licenssed financial advisor, as well as a CFP, I was always skeptical of any investment strategy other than "Buy & Hold". The recent market downturn has confirmed that Buy & Hold only works over very long periods of time. Bear markets can last for decades.
McDowell's book is very straigtforward. No promises or expectations. The money management and trading pschology are right on the mark. I strongly recommend his system for the legions for "Buy & Hold" investors who want to see realistic growth over time.

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.

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.

I am taken aback by all the gross negativity posted against this book. When i first read the book after reading a great review in Commodities and Stocks magazine, i found myself staying up all night to complete reading it. I am not a novice trader nor do i fancy myself as the internet police to verify every program or book out there for its 'backtesting' ability. If you want to back test, just change the time frame on the ART program and you can see very clearly how many times it was right versus wrong. It is not a perfect system. Does Goldman Sacks share their computer programs to 'allow us to back test them'? Of course not - this is still america and entrepreneurs have the right to intellectual property. Do i have to build my own vannos valved engine in my garage to understand that BMW is the ultimate driving machine? However if you have been in the market as long as you say and know as much as you claim and have the skills to do what you say, the book and the examples given are perfectly clear as to the methodology used. If you have traded IBD, or any other 'system' out there you then know that 60% of the time they ALL give wrong signals. This book educates you on money management from trade size and risk of ruin and so forth. if you are looking for a 100% accurate system - good luck and call me when you find it or better yet - write your own but publish it here so we all benefit for free from your efforts. A perfect system does not exist or everyone would be using it and it very quickly would be rendered worthless as a tool. This book is a glimpse into the world of ART that is reality trading. Trading on the realities of the price action in real time - not a derivative of it. It cannot be emphasized the role of money management in your trading accounts and as you read books from Jessie Livermore to Jim Cramer they all mention somewhere in there about money management. ART lives by it. It is a system that allows you to change the parameters as you desire to give you opportunities that match your personal risk level. Why is the guy doing seminars and selling books and adjunct programs? Why does George Soros still invest?? For me, it works it is not for everyone but no system is. $2k is 1/5 of most of the better programs out there that i know work equally well. so for me it is a bargain and better yet, it teaches me to find my own opportunities and not rely on the 'expert ju jour' on TV or the internet. Trading is hard work, this book outlines a system that takes a ton of the stress out of the trades and more importantly tells you before you buy what you sell point is. Honestly - i have 50 different trading books in my library. This is the only one keep going back to time and again. BTW I am not affiliated with ART in any way other then a perfectly happy client.

I've been trading the ART software for almost five years and have found it to be the easiest to use of all the technical analysis systems I've tested. What helps me is that the software gives me entries and exits plus risk control. Other approaches would give me entries -- but then didn't always have clear exit signals before I placed my trade. Problem with that for me is that there wasn't a way to calculate the trade size -- since I didn't have an exit selected prior to my entry. The other aspect of the ART software is that it has voice technology so I can work on other things while I'm waiting for my entry or exit. There's no chance of missing the signal because a voice comes on that says "Pyramid Trading Point Entry NOW". Of course the ART book has tons of material on how to use the ART software system -- but it's also got a strong foundation in all the areas needed for success including money management, trading psychology, risk capital, etc. Meaning -- it's not a total loss if you don't end up using the software when you are done with the book.

I enjoyed reading "The ART of Trading" by Bennett McDowell. The concepts are easy to understand and the system is clearly defined. Furthermore, Like Van Tharp and Alexander Elder, he shows that there is no holy grail in trading. Just simple, hard and above all disciplined works. I do think the book offers sincere money information for both the novice and experienced traders showing in a unique way the use of strict risk control on every trade. The concepts and techniques of McDowell's reality-based trading make sense and will go a long way towards helping everyone to achieve a positive finical goal. The importance of how to set stops based upon market realities, and the section on trading psychology was very interesting but are, in fact, the same message written by Van Tharp and Alexander Elder. In my opinion, the book has a huge advantage in comparison to the enormous amount of other books written about treading. It is written in a way that everyone can understand the words, and it is very easy to read. However, the best thing is to read it two, three or more times and different thoughts of trading practice will come forward to you. Finally, you will be able to use the trading patterns witch make you most comfortable, and about all make you to be 100 % disciplined during your trading sections. Consequently, this is with no doubt a five star book? Unfortunately, no. Its primary goal is to sell a book and furthermore to sell a piece of software together; which I do think is one of the best software on the market. I will gladly pay for the software. However, there is a lot of obstruction - when you are full of enthusiasm after having read the book and want to start The ART of Trading you are in problems. You have to boy Trade Station, E-signal and so on. It is extremely expensive. Furthermore, you have to buy market data and so on. Only NijaTrader is free, but even here you have to buy data; or those from the selected brokers that are accepted by the platforms. Personal I use CMC market for quite a time and feel very comfortable with their platform. Through a relative long process, I have come to like their platform, feel comfortable, secure and above all with 100 % discipline. I can't get the art of trading to function on that platform, although it is one of the bigger in Europe, Australia and so on. That why this book will be placed with the other books in my bookshelves concerning trading - because I can't use the software; or rather the software will not let me use it. Sadly so because for the first time I think I have seen a technical analysis that works.