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Readers reviews of THE ART OF TRADING 2nd edition

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This book is a trader’s handbook. The second edition has been expanded to include new sections on stop loss techniques, risk, trading rules and changing your psychology as a trader. This is valuable material that comes on top of good discussions on the tools of the trade, using chart patterns and technical indicators.

 

The objective of the book is to show how all these features are combined to create a consistent and successful trading approach. Tate has a particular approach to the market and his selection of tools for discussion reflects this. Although he  gives the background to each of the indicators he discusses, his main intention is to show how these indicators are used within the context of his particular trading approach.

As the title suggests, trading is an art. It is not a mechanical process. The tools of the trade are well known and readily available – just as paints and paint brushes can be purchased from any art supply shop. The difference between a good trader and an amateur – between a good painter and a hobbyist – is not the tools. It is the skill, and the art that is applied to the way the tools are combined and used.

 

This is why mechanical trading systems fail to live up to expectations. They do not show  users how to combine their skills with the tools to create the art of trading.  The importance of this book is both in its practical approach, and in the insights it gives into the way this particular trader works.  It is a useful and important addition to any trader’s bookshelf.

 

 

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