Amazon.com: Customer Reviews: Tools and Tactics for the Master Day Trader: Battle-Tested Techniques for Day, Swing, and Position Traders
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Showing 1-10 of 15 reviews(4 star). Show all reviews
on April 7, 2002
Here's a heads up from someone who actually has taken the time to read the book and put money on the table to test its strategies in real-life trading situations (after I paper traded them, of course).
To avoid undue negative bias, I recommend not listening to the reviewer that "heard" that the authors don't trade (what a bunch of bologna)...and also try to ignore the guy that talks about the "performance" aspect (Pristine posts a trade once a week on their website...since I've been following it --quite a few months now-- the win/loss has about 50/50) -I guess the writer of that review hasn't realized that trading is a numbers game...it's not about being right more than you're wrong, it's about cutting losses short and letting profits run (the most profitable trader in the world was only right 42 percent of the time, and that was his best year). Finally, please try not to laugh when you read the review by the guy that only "skimmed through" the book at B&N...give me a break...maybe he ought to actually READ it before he bashes it.

Anyway, I think that this book is ideal for people who may just be entering the arena of trading. It cites some basic, yet proven, high-probability price pattern formations and some simple but effective technical indicators. I've personally traded the core tactics (the Key Buy/Sell setups) on many occasions and have made lots of money doing it. Part 1 has some useful info about the mental aspects of the game...of course, controlling your psyche is what it's all about when everything's said and done.
Bottom Line: Don't believe the negative hype... This book is well worth the 40 bucks.
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on August 18, 2009
I would list this book as a good book to add to ones library for continued information and educational growth. The negative comments I have read sounds like Fundamental traders. This is a pet-peeve of mind because at my beginnings some 5 trading years ago I became confused after reading books from the Fundamental trader vs. the Technical trading concepts. My trading career did not begin from seminars but instead from the book store and on line.

As usual the Fundamental Traders appear to be jealous because Technical Traders can make decisions without believing the predictions beyond a grain of salt. Yes, I will watch and listen to the Fundamental investment news shows but I check it against my Technical Analysis and my personal stock research process; something you Fundamentals cannot do apart from financial reports.

Jim Crammer stated that Bear Sterns was healthy, stable, bla bla bla. The charts were stating other wise. Technical traders got out; Fundamental traders cried tears all the way from the bank. Why? Crammer told you that Bear Stern fundamentals were sound. Jim Crammer lied and the charts, data, and trends did not.

I have purchased a cross section of books (4ea) written by Fundamental traders to hear the other side of the line. It is amazing how the Fundamental Traders spend almost 1/2 of a book bashing technical trading. Fundamental trading is dying everyday. Technical trading has exploded as a direct relationship of the speed and proficiency of the Information Technology age, the processing power of the PC, and the Internet. In my opinion, it is foolish and ill advisable for any investor to be still using the system of Fundamental trading. Information and decision making is to fast, precise, and in a constant state of change. Fundamental trading relies on long gradual stable growth in the market. That is no longer possible because of global competition, global government and economic instability; and the overwhelming amount of untruthfulness and financial book-cooking in the world today.
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on December 8, 2014
Very good for 'trader mindset' information, but light on applicable techniques. Just gives a general overview of their system with a handful of entries revealed, but without discussion of more in-depth indicators that are needed to determine the viability of taking the particular trade. Also is dated, definitely needs an update. I do recommend this book though, there are plenty of viable concepts in here.
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on July 26, 2001
I am a professional trader for the past 3 years. I didn't want to read this book because of some of the negative reviews here. But I chanced upon it at the bookstore and decided to buy it. I found it great, particular the part on the psychology of trading. It is well written and worth many times the price of the book. I did find the methods outlined to be somewhat simplistic but they still do have value. All in all, this book alone is not sufficient to be a good trader but if it is combined with a good trading method, I believe one will truly benefit from the combination.
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on May 29, 2013
I gave this book 4 stars because of the second half of the book. It is not just actionable, but forms a concise technical basis for microtrading. The first half of the book contains a couple good thoughts and even a couple of things explained in a different way that makes for a good review of general topics if you're an experienced trader. Unfortunately, the first half of the book is largely a sales pitch for Pristine Trading flavored with a great deal of self congratulatory prose, the like of which you can take from the title "master day trader". Master Trader is simply not a term you often hear outside of fiction, and its a bit surreal to read over and again.

The second half of the book is worth far more than the price of the entire book however, and I highly recommend it.
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on January 21, 2014
I like the book, it provided me with information on the type of tools needed when charting stock. It also indicated when certain stocks are charted and using the tools how the trade should be confirmed using the tools indicated.
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on October 30, 2001
I agree with some of the other reviewers comments regarding the first 5 chapters of this book. Those chapters are certainly the Holy Grail of trading, not the few techniques introduced later which are helpful no doubt but certainly not the win-all, which if you read the first 5 chapters you will know that doesn't exist.
I found that this book was well complemented by David Nassar's two books and home study course, (How to Get Started with Electronic Day Trading and Rules of the Trade).
I would highly recommend this book to anyone who day trades, swing trades for part time or full time, but please do not make the mistake that other reviewers have made and think that this book is the only book you will need to read to be successful! It just doesn't work that way! Happy hunting!
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on August 20, 2012
Velez and Capra are great in giving you tools and tactics to get you started on the road to success in day trading. Very clear and easy to understand even for someone who is just getting into trading. If you are seasoned then it highlights and re-emphasizes some crucial trading rules as well as gives you more insight on tools that you currently may be using or new ones that you are not. They also do not overwhelm you with set ups. They give you a few to master. Master them and then you can add other set ups to your trading strategy.
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on October 30, 2007
This book has very simple strategies/plays that could be used to make money. I know because I made some money on it. Of course, it is not as simple as they make it in the book. Preferable that you have some trading experience under your belt.
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on May 30, 2015
This book provides some good ideas and is useful for developing a trading plan for various day trading techniques.
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