{PDF} The ART of Trading: Combining the Science of Technical Analysis with the Art of Reality-Based Trading Bennett A. McDowell, Lawrence G. McMillan

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.