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Tools and Tactics for the Master Day Trader: Battle-Tested Techniques for Day, Swing, and Position Traders Hardcover – July 20, 2000
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From the Back Cover
Techniques-Driven Tips of the Day Trading ProsDirect from the Experts of Pristine.Com!
Today's stock market gives smart, aggressive day traders more opportunities for profit opportunities than at any time in history. Never before has trading wealth been so achievable for the well-prepared day trader...and so elusive to the ill prepared.
Tools and Tactics for the Master Day Trader provides the weapons you need to become a confident, self-empowered, successful day trader. Oliver Velez and Greg Caprathe online trading pioneers behind Pristine.com, today's most insightful and innovative day trading Websitegive you the nets-and-bolts techniques you need to master the market, including:
- Market TimingS&P futures, NYSE Tick Indicator ($TICK), NYSE Trader's Index (TRIN), New Lows (NLs)
- ChartingTails, Gaps, Retracements, Moving Averages, NArrow Range Bar (NRB)
- Trade ManagementInitial Stop, Break-Even Stop, Trailing Stop, Time Stop
Day Trading is one of today's most demanding, unforgiving endeavors. It can also be one of the most lucrative. Let Tools and Tactics for the Master Day Trader take you behind the scenes, and show you how today's top day traders arm themselvesboth psychologically and intellectuallyfor the day-in, day-out challenges of a limitless day trading career.
About the Author
Oliver Velez and Greg Capra are co-founders of Pristine Capital Management, Inc., and Pristine.com. They are among the electronic trading industry's most sought-after speakers.
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Top Customer Reviews
I became profitable in 1998 and support my family totally from trading income, using many of the tools described in this book. I have tried many of the software "black box" programs out there, been to many seminars (some great ones, some worthless ones), bought many trading books, and it has all led me to where I am now. If I had let an unfavorable review like the ones here steer me away from a fantastic book like this one, I would not be trading today and making a living working for myself half a day and hiking, biking and skiing the other half. So what if they promote their own seminars, web pages, trading room, etc. in the book. Wade Cook and many others use their books as free advertising the same way...Read more ›
Now, let's comment on the very positive as well as very negative comments regarding the book. The negative comments appear to be from "well seasoned" traders with 10-20 yrs experience, that emphatically emphasize the phrase "I'm a succesful trader". Well, it is my experience that if you are really succesful then you would hardly gloat yourself on this attribute. Much less buy a trading book IF you are indeed a 10-20 yrs experienced trader! Now, that's hard to swallow. So, here's my grain of salt on these comments.
I'm very open to new ideas and this book will provide the novice trader with simple and effective ones. Now, let's make it clear! This book, in any WAY, SHAPE or FORM will make you a Mastertrader from day to night. This is a hard road my friends where 95% of people fail to finish! What this book gives you are bit and pieces of a never ending puzzle that must be assembled by YOU and only YOU.
My other comment is that most people fail to mention that 99.5% of the books out there about trading, DO NOT provide entry and exit strategies and simple trading strategies. This book does! There is a very fine line between technical analysis and trading. You can know everything about TA, but to put it to work on the trading arena is a VERY VERY different story.
I must add that I recently attended a seminar offered by Mr. Capra, and I have to say I was absolutely satisfied by the course material. I also realized that the book does not even scratch the surface regarding trading.Read more ›
Here are some actual results of their system. I checked my last five days of trading and found my results gave me a 5.2% gain on three losses and three wins! This is the 50/50 deal that is dismissed by one of the critics who said their system produces.
Now I will take that sort of gain any time. If I could have that every week it would give me a 268% profit for the year! Not bad for a beginning.
I give you specific trades I made to produce these results. Check them for yourself.
The trades were made from January 23 to January 29,m 2004.
1-23-04 - Bot ANDW @ 16.763
- Shorted SNDK @ 60.58
1-26 - Sold ANDW @ 17.467 (loss .704)
- Covered SNDK @ 58.33 profit 2.25
1.27 - Shorted CYBX @ 32.40
- Covered FRNT @ 10.80 profit .851
- Covered CYBX @ 31.80 profit .60
1-28 - no activity
1-29 - Shorted ERTS @ 46.30
- Covered ERTS @ 47.16 (loss .86)
- Shorted RYL @ 75.01
- Covered RYL @ 75.85 (loss .84)
Results: (losses = 2.304), profits = 3.701; net gain 1.497 on total of 240.554 share prices of initial trades, for a net profit of 1.497, or 5.2% gain in five trading days.
(Note: This does not include the holdings still in the account at the end of the period, only the trades actually made in the period. The FRNT was shorted @ 11.Read more ›
Most Recent Customer Reviews
When I moved, I threw out the 100 or so trading books I had accumulated. This was the only keeper.
Not to be confused, I am not particularly fond of the work and writings... Read more
This one shapes a day trader into someone who can stand up to the market, if you are willing to do the work, rule based, with all you need to take away to understand the task at... Read morePublished 1 month ago by Turtle1
This book is packed with insights needed to start and sustain a successfully career in trading. Its very informative and written in layman's terms.Published 10 months ago by virtue
More blah, blah, blah which is fairly common sense and a sales pitch to attend their specialized training.Published 11 months ago by E. Rick Arroyave
A lot of complaints about this book come down to the sales pitches. Give me a break. Every single organization that teaches trading will want to sell you more and more stuff. Read morePublished 11 months ago by Guy Burnside
This book provides some good ideas and is useful for developing a trading plan for various day trading techniques.Published 12 months ago by Donald A Davis