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The ART of Trading: Combining the Science of Technical Analysis with the Art of Reality-Based Trading Hardcover – April 25, 2008
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From the Inside Flap
As a trading coach and financial advisor, Bennett McDowell used his own proprietary trading systemApplied 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 endeavorswhether you deal in stocks, bonds, the Forex market, commodities, or optionsand 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 softwarewhich is compatible with a variety of platformscan 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 handa 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 tradeor 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.
From the Back Cover
Praise for ART of Fair Trading
"McDowell's reality-based trading plan is fully disclosed in this book covering technical analysis, money management, risk control, paper trading, and the psychology of trading . . . everything a serious trader or investor needs. It's a well thought-out strategy and certainly worth the investment."
Julie Craig, Vice President, eSignal
"McDowell shares his trading techniques using the ART® trading system that helps you identify the direction of the market and provides entry points as well as an exit strategy with stops to minimize losses and maximize gains. This book does not overwhelm you with massive technical jargon but gives you a simplified approach. Clearly, this is a trading book worth reading for any serious trader."
Larry Jacobs, Editor, Traders World magazine
"This book is the most comprehensive introduction to developing a trading system I have ever seen. It's a thorough explanation of how to trade a wonderful software package, ART, which I have been using for four years. This is my idea of fun!"
Philip Pitts, ART® Trader
"Here is a book that teaches you about trading from the heart and mind of a professional trader. Bennett McDowell has successfully combined the ART and SCIENCE of trading in a well thought-out, structured approach. Focusing on the essentials that a trader needs to deal with, this book will provide an edge for today's trader. I highly recommend The ART® of Trading as a model for all aspiring and experienced traders alike."
Sandy Jadeja, Chief Market Strategist and Editor, London Stock Exchange
"This is the kind of book that fires my personal testing ideas; it features simple concepts explained in a straightforward manner. The theories lead to pragmatic systems that can be used in turnkey fashion or modified according to the reader's discretion. I anticipate many happy hours in the research lab."
Art Collins, author, trader, and Contributor to Futures magazine
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Top Customer Reviews
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.
Like my title says, don't be fooled by these numerous positive reviews. Most of them are from people who have reviewed only 1 or 2 books (in the latter case, the other book was also one from this author). These numerous fake reviews are also present on the Amazon page of this author his other book (again a very, very basic work on money management).
Look, I'm not saying this book is a total disaster, there are worse books out there. It's just a very expensive book given the stuff he writes. I'm mostly troubled by:
1) The dozens of fake reviews placed on Amazon (probably by the author himself)
2) The high price for this (short) basic book on trading
3) The author tries to sell you his (expensive) system. There are no backtests or analyses available on this system in his book
4) The author his attempts to make these reviews here look like they were written by real individuals. Please ...
The book alone is full of sound advice if you never buy the software. I will state without reservation to any new investor or to those who want to learn to be wise investors, if you don't buy another book, buy this one. The companion volume on money management is also important. But the fact that you can buy the powerful ART software license, good for life, that will guide you through the innumerable investment decisons before you in these perilous times for a pittance, relatively, is nothing short of awesome. But like most important decisions in life, if you listen to the wrong voices, you will make wrong decisions. Think about that also. Like Trammell Crow told some of the Partners at my last meeting with that company, "The best thing you can do in life is think. Think. Think.
Most Recent Customer Reviews
Only cost me about $40
Came with a 30 day trial of trading software.
Teaches sound money management techniques.
Very Straight forward reading.Read more