Customer Reviews

The Art of the Trade; Mastering the Analytic and Intuitive Elements of Successful Trading

5 star:		(11)
4 star:		(10)
3 star:		(2)
2 star:		(0)
1 star:		(0)

 

 

I thought this one of the top five trading books I have ever read. Not only did he describe many new concepts-80/20 rule applied to your trading, psychological capital as different from financial capital and trade like the millionaires but he also showed me weaknesses in my trading and helped me correct these.

It has your basic rules but he assumes you have your own system and the ability to put on a trade-he just filled in a lot of blanks areas of my trading personality and that opened me up to new ways to do things.

The author has defintiely been kicking arounde for a long time and is a good example of a person who has probably forgot more than I will ever know. Trust me, if you read it you will buy it.

This is the best book written about the psychological and mental aspects of trading. This book hasn't got much about technical analysis, entry or exit points, but tells you how to handle trading mentally.

Valuable for covering a very wide range of emotional challenges one faces when attacking the markets. Plenty of advice on how to begin to make the character changes that'll help you cope with all those storms. Vailliant reconciliation of seemingly opposing principles by means of a not- inconsiderable amount of new age energy flow ideas.

Regardless of an investor's time frame, day trader to occasional, the wisdom will make them more profitable. Rarely does an investment book make one both a better person and more profitable at the same time. R E McMaster reminds us that the whole person, skill and soul, must be in synchronization to be successful at trading and investing and life. He has written one of the best investment books of the 1990's.

This book provides advice that goes far beyond a way to trade stocks or commodities. It is a thoughtful guide to how we can be successful in our daily lives. And by the way, the techniques he offers to make money as a trader are faultless and if applied are a sure fire way to get rich while preserving capital.

Another trading book? Yuk, you may think, having sampled at least some of the trading-book deluge pumped out by the American publishing industry in the last 12 months. But unlike so many of these that pander to the desire to become rich through trading, R.E. McMaster's The Art of the Trade is time and money well spent. The book's main thesis is that while market opportunities are unlimited, a trader's time, energy, financial and above all, psychological capital are very limited. In 10 chapters, McMaster tells about the similarities and differences between trading and gambling - the biggest difference being different kinds of risk - managing risk with money management; treating trading as a business; the methodology, consistency, mentality and emotions of trades; self mastery; and in the last chapter, McMaster puts it all together. His expectations are clear and easy to follow. Overall, The Art of the Trade is well worth reading carefully. It will go a long way in helping traders preserve their psychological capital.

R.E. McMaster has written the book on the fine art of trading the financial markets. This book shows the would-be trader what it's like to trade for a living, the common mistakes to avoid, the tools necessary for successful trading, etc. McMaster shares his philosophy and thoughts on what may be the world's toughest profession. His experience on what works and what doesn't is extremely valuable for any trader, novice or experienced. In today's tumultuous crisis markets, nothing can replace the many years of experience R.E. McMaster brings to the table. Academic theoreticians don't hack it in today's environment.

R.E. McMaster doesn't think like other people. He can let down the mental filters that safely quarantine most of humanity from any new idea, and discover uniquely different ways of viewing the world and ourselves. The Art Of The Trade is as much a personal odyssey as a trading guide. R.E. will teach you to look into yourself before you look at markets.

Whereas most books give only passing attention to managing one's emotions and focus on mechanics, R.E. McMaster gives the mental game the great attention it deserves as the most critical determinant of success or failure for the majority of traders.

Most books on trading show us how to MAKE successful trades. McMaster shows us how to BECOME successful traders.