In "The ART of Trading" Bennett McDowell begins by defining the realities involved in successful trading and investing which can be divided into four major areas: Risk Capital, Trading and Investing System, Psychology and Money Management. While there is a lot of useful information contained in the ART sections, the parts of the book that resonated most with me were the Psychology and Money Management sections. He covers the types of risks, trade size, the types of stops and the need to set them. Then Mr. McDowell delves into setting up your trading business, your business plan, business and office considerations, broker information and data feeds. He gives you information necessary to select a financial market and time frame in which to trade. However the most enlightening part of the book for me was the exploration into your psychological makeup and how to get from where you are to the master trader's mind set or "Holy Grail". The exercises and suggestions to reach this goal were extremely helpful. This book is well organized and illustrated. I was disappointed that the majority of the book is devoted to explaining Mr. Bennett's "Applied Reality Trading" system that requires an additional purchase. This book is for those traders interested in learning and applying the ART system.

Buy this book, if you are willing to spend 2K in software. Author has not written how Pyramid Triangles are formed, what is logic. Author should have written logic so that people who are experienced in TradeStation Easy Language can write their analysis and backtest it and see whether this approach works.
I have read Mastering The Trade by John Carter, at least author has shown how method works and he has shown logic and if you are not comfortable with writing code, you can buy it from them.
I have decided to return this book.

I bought this book with the intent of obtaining the 30-day free trial and learning more about the A.R.T. software, which I have. This is an excellent book about trading even if you don't buy/use the ART software.
This book teaches solid trading skills needed to be a successful trader in any market and with any system, but the emphasis is on their software.

I have obtained the 30-day free trial and so far the ART software is all they say it is and more.
Bennett McDowell appears to be the real deal.........

Ric
California

In this book, Bennett McDowell show us, in a simple way to understand, the several variables of trading, covering psychology, money management, strategies involving price and volume.
The emphasis on his software makes the book more applicable if you use the software, but even without the software, is a very useful knowledge and I think that any trader that really wants to beat the market should read this book.

I have bought many trading books; this is, by far, one of the best I have come upon. Whether you are an advanced trader or a beginner, the tools offered in this book provide you a trading system you can work with at your current skill level and whether you are a short-term trader or long-term trader. I highly recommend this text to all traders!

I enjoyed The Art of Trading. It is one of the better trading books in the market (I have read many). The books cover a whole gamut of topics. Among these topics, I particularly enjoyed the trader's mindset, money management and the section that covers paper trading, which is a very important topic. One benefit of buying the book is that the reader has an opportunity to test out the software for one month. If the reader finds that the trading method ART is suitable for his/her own style, then he/she can purchase the software for a reasonable price. If not, the reader still would have learned a number of useful idea. I find the author, Mr. McDowell conducts his business with utmost integrity. I hope my review helps.

Most helpful to those who use the ART software, but even without that, the book lays out a very sound approach to trading. The method focuses on breakouts and reversals as the bread and butter of trading. The methods can be tailored to individual preferences of time frames and markets. Lays out a basic approach and once that is mastered, gives some advanced techniques to enhance your trading. Definitely worth a read.

very good reading to get your arms around a plan
to understand the markets, and what makes a good trading plan.

also insite into how the ART trading software
can help in identifying entries and exits on
any market you may be interested in trading.
I highly recommmend this book to be on your shelf.

Bennett has written a clear and concise book on trading. If you follow the instructions in this book you will have an excellent start at becoming a discretionary trader.

This book is a very comprehensive account of the whole gamut of trading, from instilling discipline and trader psychology to the system itself. I believe discipline/psychology are paramount, and with that the system can be successful. I have not yet used the system, but if anything it's definitely worth a trial. I would recommend it to anyone not just looking for a system (there are plenty out there), but to get in shape mentally for trading.

i felt the book and the system were ok, nothing special. I did not buy the system, but considered it. I think it is balanced and reasonable, and in that sense professional, but I did not like the absence of tests and real time results. I wasn't inspired to invest more into this system.

I found this book to be quite helpful in its own right, even without the software, and the patterns that the software is built around are clearly described. I actually took the free trial of the software, and though I thought it was quite good at doing what it was intended to do, I felt like I had learned enough from the book that the software wasn't necessary for me. (I prefer to trade with just price bars and volume visible on the screen--but I found that the book pointed out several very helpful price patterns that I have been able to incorporate with good success into my trading.) I would also like to echo the comments of other reviewers about the reliability and responsiveness of TradersCoach when it came time to discontinuing the free trial. They canceled my trial quickly with no muss and no fuss, so anyone who is thinking about trying the software product should feel confident that they're not going to be trapped into buying something they don't want. All in all one of the most useful trading books I've read in a while.

McDowell's coaching style is tuned for new traders desiring a profitable trading style built on sound principals and discipline. His approach focuses on achieving a winning percentage and a solid payoff ratio. His system doesn't use multiple technical indicators such as MACD or stochastics - although he does explain how to use Average True Range and trend line channels to adjust your style within his system for changes in volatility.

The first third of the book reviews McDowell's keys to successful trading. Foremost among them is a Zen-like approach to trading that encourages you to emotionally disconnect from the market and your investments. Instead, he urges you to "listen to the market" - react to the reality of the market instead of trying to predict where you or some technical indicators lead you to believe the market is going. He focuses on price and volume as the essential elements to understanding the market.

The remainder of the text and the accompanying software are applicable across markets and timeframes using the proprietary ART System. At the default level of trading using his approach, McDowell emphasizes calculating the proper trade size and is adamant about using trailing stops intelligently placed to control your risk. He carefully explains the rationale behind setting stops and incorporates their use in every example. You start out looking for opportunities to enter a trade once a trend has begun - not anticipating movements - you wait for the system to confirm that a trend is underway before you trade. Will you give up some potential profit by waiting? Sure, but you'll also reduce the chances of getting whipsawed and realizing unnecessary losses in the process.

By the end of the book you've learned how to fine tune the sensitivity of the ART software to price volatility, how to scale in or out of trends, how to use price corrections and 1 or 2 bar reversals to protect your profits, etc. For more aggressive and experienced traders he shows how to use ART to scalp trade and to apply the tool to tick and minute time frame charts.

If you are looking for a business-like approach to trading explained in conversational way, then this is a good book for you. If the 30 day trial convinces you of the merit of the ART System, then you will realize even more value from McDowell's book.

I have been investing for over ten years, not always successfully. I've been trying to learn more about technical analysis to help me improve my trades. I like the way risk management is covered and how to determine stop loss exit point.

The "Art of Trading" by Bennett McDowell, is a new view on an old perspective placed into a Reality perspective, i.e. keep it simple, and the most powerful knowledge in trading is understanding the reality of price action. Indicators are used sparingly with only confirmation, as most indicators are just mathematical arrangements of looking at price. Even Volume, the second most important data source, must be taken into consideration, as not all volume spikes necessarily indicate a reversal or a continuation after a consolidation period.
Secondly, the author emphasizes the need to understand your own comfort zone in trading, and the psychology of being able to stay in a trade. Therefore, various signals to trade are available, but identified according to levels of risk to fit your own personality.
Lastly, the author helps one determine exactly where to place entry points, exit points, and stop losses. You can also add on or take off positions according to your trading style.
The book is very specific, yet offers many options for each individual trader.
This book could help those who have tried trading, but quit because of confusion, lack of a specific trading system, or just not being comfortable with trading. It offers many options so all potential traders can find a style and method of trading this system according to their comfort zone.

What sets this book apart from many others in the trading arena is the fact that it covers all aspects of trading. The book talks about setups but managing the trades, the exits as well as stalking the entry and determining the amount you should invest in the trade are covered. The book is targeted to the trading system that the author developed (as well as software ). Regardless, the book could be taken as a good model for the elements that need to be included in written trading plan before committing capital to the trades. For that reason alone, it is worth its price.

After so many years research and trade in financial markets, I enjoyed reading "The ART of Trading" by Bennett McDowell and I changed my method to ART method.
The concepts are easy to understand and the system is clearly defined. Furthermore, this book shows that there is no holy grail in trading.
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. In fact, it is real system for real trader in real life with using real methods of trading and money management.
This system is not the black box system and it is real trading approach.
This book is a must read for all novice and expert traders. The ART system gives you the exact entry, exit and stop prices with strong money management approach. It is fantastic because it is simple with using price and volume only without any complicated indicators or moving averages!
I strongly recommend this system for all traders around the world.
The book gives the reader the opportunity to test, in real time using the ART software with the 30-day free trial.
Thank you Bennett for this book.

If you follow the plan and all of the tips offered in this book you should end up a winner.

I bought the book with the intent to learn more about the software. The book covered the software very well in addition to covering other trading ideas such as money management, psychology and the "true realities of the market" which are price and volume. The concepts are clear and defined. After reading the book, I bought the software and couldn't be more satisfied.

the book is very impresive & gives a good idea of what mostly "not to do" which is the key for all trading

The concepts are easy to understand and the system is clearly defined
, It's simple and it works. The ART software that comes with the book gave me the edge.While the book focuses on the software, it also
provides a solid approach to trading and mindset.

Experienced traders know that you can't rely on just one trading strategy for long term success and most have come to rely on just a handful of technical indicators to rotate through different markets. This book is like buying a complete toolkit of technical studies -including a self-contained TOOLBOX (software)- on which to build a solid but flexible trading plan that can be adapted for any trading style. In the first 2 weeks of using the 30-day trial of the software, I netted a 9.4% profit with 4 trades in a $10,000 portfolio. I did need to spend some time upfront setting up my strategies but it paid off with disciplined executions. Even for experienced traders, this book is worth a look.

After watching my "professionally" managed portfolio lose almost 40% of it's value in the current economic downturn, I decided that it was time to take control of my own accounts. In the last year I've learned to day trade the indexes, momentum trade the forex and swing trade stocks. But I didn't become proficient until I read this book and started trading with ART's. Bennett and this book have literally changed my trading life! I'm no longer afraid to pull the trigger and my win % has substantially increased. Using the ART Pyramids keeps me in trades longer, which has dramatically increased my bottom line. If you're serious about making money in the markets, long or short term, you own it to yourself to read this book!

If you're serious about making money in the markets, you've got to read this book!

As a full time trader I can appreciate a book like this. It gives education on the indicators that are used on a daily basis. When you fully understand how they work they can be a great asset. I agree that the book is foundational and like most books they sometimes require the software to go along with them which is ok. Overall I think this is a valuable with good information in it.

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

I purchased the book to see if I would be interested in the A.R.T. trading system and purchasing the A.R.T. trading software. The book was very good at explaining the system, so I did in fact purchase the software.Although the technical portion of the book is most helpful if one is using the A.R.T. software,a good portion of the book is devoted to proper money management, a business plan for trading and the psychology of trading.Even if someone has more losing trades than winning trades, with proper money management, stops and trade size, they can be a successful investor or trader.

The book does an excellent job of giving an overview of what will be involved in being a trader\investor then, goes into specific instructions on how to turn your entrepreneurial desire into a business. Step-by-step instructions are given on how to trade\invest and on how to run "your company" from accounting, to developing and maintaining the required mindset to taking care of yourself. It makes you aware that, and requires you to; treat trading\investing as the serious life changing venture it is. It will also assist the experienced trader\investor in firming up a successful model to use in the operation of their business. While the book is written around the author's ART Trading Software there is enough "how to" educational material "meat" to warrant owning the book regardless of what software or market analysis method you use.

The author makes it very clear and insists that you develop the required skills by paper trading and keeping accurate records for an extended period of time before ever risking real money, like a pilot in a flight simulator. By reviewing your track record you will know if you are ready to get into the ring.

Pretty good read. Good talk on psychological/emotional issues that need to be reconciled or perhaps get in the way of successful trading. Very focused on ART trading system software procedures. Good talk on bet sizing.

The ART of Trading is the book that every starting trader must read.
It takes a big burden from your shoulders with a realistic view of trading and, above all, the window to the only type of trading technics that can lead to success intrading.

This book is about a system called "Applied Reality Trading" or ART. This system is a reality-based trading system (unlike many others), and when you buy this book you get a 30-day trial!!

Risk and money management are explained very well in this book, and it's a good way to use as a tool if you're starting to trade.

it's structured as a companion for the ART system, but I found it useful for other reasons as well.

For those who adopted the system, this book can certainly give you trading ideas and strategies that matches your style.

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.

Bennett McDowell is first and foremost a good writer. The reader never has to worry about being lost in the book because of the strait forward manner of Mc Dowell's presentation. He is a realist about the market and trading, and as such he spend almost equal time on money management as he does the ART Software. His presentation is not "one size fits all" but how you can take his ideas and tailor them to your style of trading. Since finishing the book I have been using the software about a month, and have found it absolutely incredible in identifying entries, exits and the end of trends. Any trader reading this book will find enough new insights to justify the cost of the book. Highly reccommended.

Excellent book. Simple and easy to read. Has helped my trading with the clear cut entry signals and excellent risk control on all trades. Highly recommended if you want to simplify your trading and take it to the next level.

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.

I purchased the book and ordered the 30 day trial. It's actually pretty good but not my style. I was impressed with their customer service and when I cancelled my 30 day trial they were prompt and lived up to their promotion. Unlike Ablesys which offers Abletrend 7 a stockmarket software. They promise on their website a 30 day trial. It is very misleading. I will never do business with them again and recommend people stay away from them.

Trading requires a system/strategy to achieve success. Every trade requires a plan on when to get in and when to get out. Sometimes this means losing money, but losing a small amount of money should be the goal
on your losing trades. With the proper system two or three winning trades on every five trades will make you money when the proper stategy is applied. This book will help yoy achieve this.

I've been involved in trading options and futures for several years so I've read many books on all aspects of trading from fundamental to technical analysis. I've supplemented my income by trading and would like to trade professionally. The information contained in the first part of The Art of Trading book is a general review of trading concepts and the second part of the book pertains to the ART trading system.

The main reason I purchased the book was to review the ART trading system. The book does an excellent job of presenting information about the trading system as well as providing specific trading rules and strategies. The purchaser of the book is entitled to a 30 day free trial of the ART trading system. To date, I've been watching the system and paper trading the SPY and e-mini S&P 500 on 5 minute chart. So far, I like what I see; the system appears to be a viable trading method.

I have a tendency to hang on to losing trades too long hoping they will turnaround. The ART software offers a structured and consistent approach to trading yet ART is not a black box system. The ART system gives specific entry and exit points so I believe this will help my trading by permitting me to develop a plan and too stick to it.

I have invested in many software and I must admit that ART is the best I have come across. This software works standalone without the use of any indicators and yet its so accurate. Currently I am using it with Advanced GET eSignal and it blend like magic. Try it for yourself the one month trial offer and I am sure you will not regret.

The price tag is reasonable and the support is excellent. I will never take another trade without ART software. Thank you Bennett for your contribution to the financial market.

Jerry Low Kim Whatt
Singapore

I don't review allot of books because I love to read and would spend too much time but I have read, "The ART of Trading" now twice, very carefully and I am starting again with a group of note cards with which to make a series of memory joggers to keep at my trading station so I decided to write about my experience with Bennett McDowell's Software and book.

The book takes an unusual approach in giving the reader a DVD trial version of Applied Reality Trading (ART) software for a 30 day free trial and then the book is a training manual, very specifically directed, for the ART software package. The book helps the trader identify his or her trading style and then gives advice on how to use the ART Software to support that style. I am finding the software very helpful to my efforts to learn to trade the S&P 500 E-mini futures and to adapt my style to be more of a trend trader versus the scalper style I have been using with my past trading system. The ART System appears to be very simple in that it centers on only 4 signals. Bennett uses price action and volume to trade the reality of the current market moment. Applied Reality Trading (ART) is designed to avoid opinions or theories but uses actual current market information to generate its signals. I am finding the signals have a high probability of being correct if I carefully follow the program's rules and suggestions.

I really enjoy the clear rules for placing stop loss orders. The visual portrayal of the signals on the chart allow me to quickly decide whether to take a signaled trade in terms of, can I accept the risk of the proper stop placement and still keep my money management discipline. Bennett McDowell, the creator of ART Software is also the author of , "The ART of Trading and "A Trader's Money Management System". Both books support very important aspects of consistently profitable trading. The psychological impact of the money management principles taught in "A Trader's Money Management System combined with the ART System's buy and sell signals have made a great change for me. I learned in Mark Douglas' book, "Trading in The Zone", that I must be willing to accept the risk of every trade. With the ART System's clear signals for buy/sell and stop loss placement, I can judge whether to take a signal and how many contracts based on my account equity.

The record keeping system helps to build confidence on the system's signals and helps me stay in control of my trades and my emotions. Bennett's discussion of trader psychology is great too. His pointers on trader's mindset are very helpful and his systems back up the psychology he teaches. I highly recommend both books together. I am still paper trading but this time I will actually know, by documentation of trades, how well the ART system is performing with my unique implementation of its signals. When I know my trading is consistently profitable, I'll trade again with the confidence I need to be profitable. I feel I'm closer to my dream of trading for a living than ever before from the support of the software and the knowledge gained from both books.

Everybody could be a 'winner' in a bull market. But, the real test is whether one could survive in a bear market as everyone says. The author sets it out clearly what makes up a complete trading system that could ensure investors survival (at the very least) if not more regardless of what market one is in. Having read the book now and being a day-trader myself, I could say it out with first hand experience on how important these elements are. Having experienced the ups and downs that a day-trader has to go through all the times, I have been trying to look for the 'missing' parts in my trading mechanism. I find that the beauty or essence of this book, which other books lack, is that it sets things out in a very clear and easy to understand manner. In addition, I managed to visit their website (wwww.TradersCoach.com) before I even got the book. There are a number of very informative videos which I went through giving myself a clear understanding as to what to look for in the book. I had the book in mid January, finished it, tried the system and bought it too. The ART system is very straight forward and it makes perfect sense to me how it works. Of course, no trading stratgegy is perfect, I have to blend in the ART system with my trading experience and knowledge to optimise my returns. But I could say that I use ART as the primary source now and other indicators as a secondary support. I would definitely recommend this book to every serious trader/investor.

Bennett's book provides an insightful look into trading the markets....ART is NOT a black box system but if combined with the other techniques provided in the book one can become a successful trader...the chapter on proper money management and risk control was very beneficial....and with ART, a trader can apply strick money management and risk control rules....I would recommend this book to any trader

As Ben says, price and volume are the realities of the market. This system tells you exactly where to get in and where to get out in terms of stop losses and profit levels. You can use all or some of the trading signals depending on your personal experience level, style and strategy. Any technical indicator by itself or a combination there off (RSI/MACD/MA cross overs) is not reliable as a trading signal as it is only your interpretation of that reality at that time and therefore not consistent. Markets can stay overbought or oversold longer then we can stay solvent. Without a system that generates those signals with consistency based on price and volume you can't really be successful as a trader. This software keeps the guess work out of the equation.

The art system takes market structure and gives you a practical way to trade it. We always hear & read about these wonderful things like Fib retractment, Value area, supply & demand but we raley walk away with anything tangible to use and trade with. The "ATR" program will teach you to identify the naturaly occuring structure that exsists in the markets and give you a very presice plan with which to trade. Training your eye to see these patterns as they develope is the key.

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.

I have read many investing books over the recent years and this ranks as one of the best. Though it is really a primer on how to use the ART software, the reader will benefit from some sound logic contained inside. Easy to read and filled with common sense and not so commom wisdom about trading and keeping your wits (and assets) intact. Enjoyed it immensely!!

I am an experienced trader and the ART book and software has provided a new perspective to help me make money. While the book focuses on the software, it also provides a solid approach to trading and mindset. No matter what level of trader you are, you can get wisdom and insight from this book that will help your trading...and your bank account.

The authur of this book explained how to build up a system to trade stocks. He showed how to enter; how to exit. It brought readers to do trading exactly like running a business. The book is easy to read and to understand. Besides, its attached DVD is a wonderful bonus to readers. It is strongly recommended to people who treat stock trading to be a business, not a gambling.

I have read this book in one setting ,then I read it again,I used the software and loved how straight forword it is ,I went ahead and bot the trading course.this is market reality at best Ben is great for support I will keep him as a mentor