Product Description: Over 30,000 online investors daily flock to pristine.com, the top-rated Website run by day trading legends Oliver Velez and Greg Capra, for up-to-the-minute strategies and market commentaries. In Tools and Tactics for the Master Day Trader, Velez and Capra revisit and completely update over 100 of their daily commentaries from the past four years, with new material explaining what worked, what didn't, and why.
This no-nonsense, easy read, meant to be referenced by traders every trading day, covers everything from potent trading strategies to intuitive insights on psychology and discipline. Proving once again that the best teacher is experience, Tools and Tactics for the Master Day Trader will help any trader log on with the technical skills, market knowledge, and confidence they need to capture more winning trades, and reap new profits.
Has som useful information for the beginner but is out of date. Wow. This book sure has received a wide range of reviews. I do respect that those who claim many years of successful trading didn't like it, but then I notice that some of them seem to despise it because it didn't tell THEM anything new or meet THEIR expectations for style.
Then some of the one star reviews leave me wondering if we read the same book. I didn't see as much advertising as they did at all.
I'm rather new to short term trading and have read a number of other books before this one. I thought that there was a lot of specific insights in the book clearly presented and some clear tactics and chart formations presented in the context of making trading decisions (as opposed to simply educating people on general chart analysis). However I come to the book understanding that it is only information, not a recipe and that I need to investigate and test out their ideas to see if they work for me.
I appreciated the explanation of using Level II information. This is the first practical information I've been able to find on this subject (not saying it isn't out there, I just haven't found this kind of tactical explanation).
It's true that you will regularly run across misspellings which shouldn't be in such a professional publication and their repetition of the phrase "the master trader" makes the authors seem a bit pretentious but then I've noticed that many authors on trading aren't English majors. That's OK with me if they can teach me to trade successfully.
My biggest concern is that a number of the practical nuggets in the book are out of date. It was written before the crash of 2000. The market and the electronic trading landscape that they describe is 8 years older by now. Not all of the "big 5" companies they tell us to follow as indicators aren't the leaders they were back then.
All in all, as a beginner mining for information of all kinds, I found some helpful information and advice in the book if taken in the context of other books, but would rather see something that is much more current.
I highly recommend Van K. Tharp's "Trade Your Way To Financial Freedom" before, as a basic primer on investing/trading to put all the other books and courses in context.
Excellent Learning Tool! This book is by far the most informative that I have read in a very long time. Most other books on the subject of trading offer only so much. However, O.V. goes much further in that he gives actual methods by which one can enhance his trading techniques many fold. I recommend this book to any and all - beginners and experienced traders. I only wish I had come upon this book years ago!
From the Stock Traders Headquarters library They have written the perfect book for the beginning trader or the trader who is struggling and needs to get back to the basics. They cover trading psychology thoroughly and offer an excellent introduction to basic trading systems.
David Colletti Founder StockTradersHQ.com
Just Perfect This book is really the one. Now I fell more confident when I strike the market. No more words than JUST PERFECT. I do recommend this book.
Great Book for Mental Preparation I think this book provides some very relevant ideas for the mental preparation required to be a trader. Sure, it may be a bit repetitive but the author's believe in repitition for learning anyway. I'll re-read it again and again.
Anything Goes Trivia
Megaton Man
Trevor
