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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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Tools and Tactics for the Master Day Trader: Battle-Tested Techniques for Day,  Swing, and Position Traders + Strategies for Profiting on Every Trade: Simple Lessons for Mastering the Market
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Product Details

  • Hardcover: 389 pages
  • Publisher: McGraw-Hill; 1st edition (July 20, 2000)
  • Language: English
  • ISBN-10: 0071360530
  • ISBN-13: 978-0071360531
  • Product Dimensions: 9.6 x 7.7 x 1.5 inches
  • Shipping Weight: 1.8 pounds (View shipping rates and policies)
  • Average Customer Review: 3.3 out of 5 stars  See all reviews (156 customer reviews)
  • Amazon Best Sellers Rank: #544,889 in Books (See Top 100 in Books)

Editorial Reviews

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, 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 They are among the electronic trading industry's most sought-after speakers.

More About the Authors

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Customer Reviews

I tried to look for some redeeming features in the book, and could find none.
James Buckman
Your new book, "Tools and Tactics For The Master Trader" is one of the best things I have ever purchased in my trading career.
The land of Servantes, Gaudy and El Greco as a backdrop and your Book as a centerpiece!

Most Helpful Customer Reviews

241 of 249 people found the following review helpful By A Customer on July 14, 2000
Format: Hardcover
The people who previously reviewed this new book by Oliver Velez and Greg Capra seem to have started in the middle of the book, looking only for The Holy Grail to lead them to immense profits heretofore undiscovered by anyone else. I found the real value in the first half of the book, which tries to show you why you haven't been a successful trader up to now and what to do about it. This is worth the price of the book in itself. They are teaching you how to fish, not giving you a fish, as the old saying goes. They should include a mirror with every copy, as I see myself in every page when they describe the mistakes made by beginning traders. I started trading commodities in 1989 and switched to stocks in 1998, so I have had the rare opportunity to make all the mistakes they describe and more. But the good news is...that's what makes you a success later on. Chapter 5, "The Seven Deadly Sins of Trading", doesn't just tell you the sins, but actually tells you how to eliminate them. This chapter alone is worth the price of the book to me.
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...
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110 of 119 people found the following review helpful By A Customer on October 31, 2002
Format: Hardcover
Overall the book is a great source of information for novice traders. The psychology related chapters are very important and essential for the survival of traders. The techniques are simple but have been around for many years, but nonetheless great tools for traders.
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.
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51 of 57 people found the following review helpful By A Customer on January 29, 2004
Format: Hardcover
I didn't read all of these reviews until I had bought and read the book. And it was quite by accident that I did read them. I was looking for other books like it. While a number of the critics said the book wasn't as good as others, oddly, one critic bashs the authors of this book then recommends Toni Turner's book for which one of these authors, Oliver Velez, wrote the introduction.
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.
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