Readers reviews of THE ART OF TRADING 2nd edition
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This book is a
traders 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.
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 traders bookshelf.
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