Tools and Tactics for the Master DayTrader: Battle-Tested Techniques for Day, Swing, and Position Traders

Book 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.

Customer Reviews:

THE best book on trading I have ever read........2007-09-09

I had to get this book after reading such a mix of reviews. I was really curious how it would turn out since reviewers were either raving about it or trashing it.

After reading the 1st half of this book I was shocked to say the least. The first half of this book is worth more than all of the books I have read on trading combined. If someone trashes this book then they are either very new to trading and don't understand the points being made in this book(which I can understand because you have to get some experience under your belt to really appreciate what is being said in this book) or they are looking for a quick strategy they can read in 5 minutes and start making money. For one thing, that's never going to happen anyway.

The trading strategies in this book are very basic, so for newbies that part of the book has some good info. I was hoping for a little more advanced analysis of trading techniques, but I really didn't need that anyway. The knowledge and wisdom in the first half of this book is going to take my trading to moon.

For the newbies who didn't like this book, get a couple years experience under your belts then go back to this book and re-read the 1st half. I guarantee you, you will want to come back here and write a positive review.

Interesting book with lack in details by very self-confident authors.......2007-06-09

When I started reading the book by Oliver Velez and Greg Capra: "Tools and Tactics for the Master Day Trader", I thought it was one of the better books on day trading. It starts out with the importance of discipline, and the lessons to be learnt from losses. It also outlines the concept that you don't buy from the market, but there is always another person on the other side of the trade that has exactly the opposite market expectation as you.

Then come four chapters with lists of rules: 7 deadly sins, 12 trading laws of success, 15 things every trader should know, and 10 lessons for the master trader. Altogether 44 rules, which don't seem to be in any systematic order. It looks like the authors were brainstorming to come up with as many rules as they could think of, and then divided them up among the four chapters. Some rules contradict one another, some important rules are next to irrelevant ones etc. Also the "Seed of Wisdom" does not help to sum up the rules because it often is not related to the part that it is supposed to summarize.

In Chapter 10 and 11 the authors talk about tools and start out by explaining things as basic as a candle stick or support and resistance. Then they dedicate two chapters to Order Systems and Level II data, and it takes until page 293 when they finally talk about trading techniques.

After having talked redundantly about general things for three quarters of the book, the authors give their ideas of entry, stop and exit techniques. What I missed most in this part is the lack of exact trading rules. Everything is expressed vaguely (e.g. p.219 "you can also opt to keep the break-even stop. This is a matter of choice." or p.322 "Sell at least half your stock if and when the stock breaks below the 5-minute low. ... These are just guidelines. We don't want to be stupid. ... Many traders will be best served selling the whole lot at this point."). This is exactly the vagueness you can't afford as a day trader. I was also disappointed that there was so little variety in the trade setups (just three entry techniques).

So my hope was high that in chapter 17 "How to put it all together" there would finally be concrete entry and exit descriptions. Instead, the authors just describe common chart formations like any other book on technical analysis (and do a worse job, too).

Throughout the book I noted an arrogant tone (p. 317: "Let's assume a master trader, let's call him Mr. Velez."). The authors speak about master traders, as if they were some kind of rock stars. No matter, how successful you are, if you quit being humble, the market can easily take everything away from you.

I am giving the book three stars because it does cover important topics for day traders like discipline, and learning from your mistakes. If you want to read a more effective book, however, I recommend the one by John F. Carter "Mastering the Trade".

Seeds of Wisdom !.......2007-05-18

Tools and Tactics for the Master DayTrader: Battle-Tested Techniques for Day, Swing, and Position Traders.

Velez and Capra give me the impression they have traded before and are not just book writer's. You can learn a few pointer's from this book whether you are just learning or have been trading a while. It covers Candlesticks,Moving Averages, Fibs, Volume and drawing a few trendlines on the charts intraday and daily charts.
It does not go into some of the mathematical lagging stock indicators that some trader's think it might be the "Holy Grail". Those lagging indicators act like delayed instrument gages on your dashboard. Sorry, there is no Holy Grail on WallStreet predicting the future for you... better look elsewhere like yourself. The only "Holy Grail" you will ever find trading stocks is yourself there is no quick fixes to learn to trade stocks it all takes lots of time and practice.
Its to look and observe what a chart's history or footprints tell you with some seeds of wisdom.
I see so many negative reviews here about this books. I am starting to wonder whether those reader's have ever traded stocks or are just rookie trader's learning from their mistakes the first 2 years.
I have traded full-time for years and I can tell you they must be all rookie trader's hoping that a book might have all the answer's for them and their future. It would help them if they read this book a few times until it really sinks in their minds.
As a prior reviewer mentioned which I agree...
"The key buy setup, alone is worth many times the price of the book."

Nothing new.......2007-04-18

nothing new, nothing exciting. Everything can be found in books that are half the price. Save your money.

FIVE STARS!!!.......2007-02-27

I would definitely give this book five stars. I really learned alot from it. If you gave it a bad review you either need to go back and read the book again or just skimmed through the book.

and to the person who sid that he "Heard" that they don't actually trade they are wrong and I thought everyone knew not always to believe what they hear. But hey, some people just believe things more easily than others.
and you can't even RATE this book one star because YOU HAVEN'T ACTUALLY READ IT!!!
You skimmed through the book and rate it one star??? WOW. that's all I have to say: wow. I'm not even going to say anything else. and people don't listen to all of those bad revievs out there. It really was a great book and is worth the money. (and so is his newer book)

and to the person who said: "This book TOTALLY rocked. I read it alot because it was so awesome"

YOU TOTTALY ROCK TOO! LOL!

Quick Guide to the 16 Personality Types in Organizations: Understanding Personality Differences in the Workplace

Average customer rating:

It is a very good reference
Tools Tools Tools
Geared to the work environment
Great Tool for Myers-Briggs
A must for employers

Quick Guide to the 16 Personality Types in Organizations: Understanding Personality Differences in the Workplace
Linda V Berens , Sue A Cooper , Linda K Ernst , Charles R Martin , Steve Myers , Dario Nardi , Roger R Pearman , Marci Segal , and Melissa A Smith
Manufacturer: Telos Pubns
ProductGroup: Book
Binding: Paperback

Workplace | Organizational Behavior | Business & Investing | Subjects | Books

General | Job Hunting & Careers | Business & Investing | Subjects | Books

Guides | Job Hunting & Careers | Business & Investing | Subjects | Books

All 4-for-3 Deals | 4-for-3 Books Store | Stores | Books

All Titles | Qualifying Textbooks - Fall 2007 | Stores | Books

Business & Investing | Qualifying Textbooks - Fall 2007 | Stores | Books
Similar Items:

The 16 Personality Types, Descriptions for Self-Discovery
What Type Am I?: The Myers-Brigg Type Indication Made Easy
Please Understand Me II: Temperament, Character, Intelligence
Type Talk at Work (Revised): How the 16 Personality Types Determine Your Success on the Job
Gifts Differing: Understanding Personality Type

ASIN: 0971214417

Book Description

The Quick Guide to the 16 Personality Types in Organizations is written by leading experts in the theory of personality type and its applications. This booklet helps you develop your personal effectiveness within the workplace by providing two full pages of information about each of the sixteen personality types under the topics of Problem Solving, Leadership, Creativity, Teams, Stress, Learning, Career Mastery, and Personal Development. Also included is an appendix that will help you understand the eight MTR-i team roles.

The first page of each description includes information on understanding the specific personality type to help you shift perspectives to improve your relationships with others. The second page includes information on being that personality type to help you further your understanding of yourself. This format makes this booklet essential for employees in any organization who want to understand themselves better and work with others more effectively.

Customer Reviews:

It is a very good reference.......2007-03-21

This is a small book that goes to the point, It have a section for each type of personality that have a small description of it, the way that they solve problems, their style of leadership, their creative expression, how do they work on teams, how the have to deal with stress, how they learn, and tips for personal growth. Also in the later chapters, this book have two pages that describes the team roles that each personality prefers.

Tools Tools Tools.......2007-03-13

This is terrific if you have any desire to learn the personality types around you.
Take a break from guessing... give yourself a tool.

Geared to the work environment.......2007-02-13

Not a big book, but large on the value that it brings to the workplace. Highly recommended and well worth its cost.

Great Tool for Myers-Briggs.......2007-01-06

I am a certified instructor for Myers-Briggs and have read many of these books about type. This one has it all! It's easy to use as a reference and practical. I reccommend it to anyone who uses Myers-Briggs at work.

A must for employers.......2006-07-09

If your an employer looking to improve your hiring decisions this book, along with the related test as "keirsey.com", is for you. The Quick Guide along with the Keirsey online test will provide quick and accurate insights about potential hires. Now even small businesses can have the type of beneficial info once available only to larger businesses. The book will also help you to have a better understanding of yourself and those around you.

Trading the Fundamentals: The Trader's Guide to Interpreting Economic Indicators and Monetary Policy

Average customer rating:

Why isn't this book in print?
The most important book a trader will ever read

Trading the Fundamentals: The Trader's Guide to Interpreting Economic Indicators and Monetary Policy
Micahel P. Niemira , and Gerald F. Zukowski
Manufacturer: McGraw-Hill Companies
ProductGroup: Book
Binding: Hardcover

Economic Conditions | Economics | Business & Investing | Subjects | Books

Money & Monetary Policy | Economics | Business & Investing | Subjects | Books

Public Finance | Economics | Business & Investing | Subjects | Books

General | Popular Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Economic Conditions | International | Business & Investing | Subjects | Books

General | Investing | Business & Investing | Subjects | Books
Similar Items:

The Secrets of Economic Indicators: Hidden Clues to Future Economic Trends and Investment Opportunities (2nd Edition) (Wharton School Publishing Paperbacks)
International Economic Indicators and Central Banks (Wiley Finance)
The Trader's Guide to Key Economic Indicators
Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings (Wiley Trading)
Using Economic Indicators to Improve Investment Analysis, Third Edition

ASIN: 0786311002

Book Description

Economic indicators and economic policy have an incredible impact on the volatile financial markets, yet it is often up to traders and investors to interpret the effects and take decisive action. Trading the Fundamentals explains the significance and market impact of all widely followed economic numbers, including the Consumer Price Index, Employment Report and other well-known indicators. Completely updated and revised to reflect today's highly computerized environment, Trading the Fundamentals provides readers with all the tools they need to analyze economic news and make appropriate investment decisions. New topics include: A new emphasis on data availability through the Internet; More detail on indicators such as layoffs and productivity; A completely overhauled discussion of Federal Reserve policy; A discussion of the phases of the business expansion part of the cycle.

Customer Reviews:

Why isn't this book in print?.......2001-08-12

I have several economic books, yet this book (written by economic investment professionals) is the most understandable, readable, and usable book on economics I know of. You can understand this material without knowing economics! Since it gives web site addresses for the actual data, you can view the economic results online or sign up to have the results e-mailed to you. It includes tables, so you have a comparison guide to help you figure out whether the data fits in the recession, recovery or expansion phases. As someone who came to economics through the back door (from observation of the markets), economic data does MOVE the markets......This book should be considered essential for traders or investors!

The most important book a trader will ever read.......1998-02-26

The new edition of "Trading The Fundamentals" is a book no trader should be without.

This book explains what is important about each release, how they are compiled, and how the market interprets them.

If I could choose only one book - THIS WOULD BE IT.

Kevin Cotter, The Cents Financial Journal

Understanding Yourself and Others: An Introduction to Interaction Styles
Average customer rating:

Enhances your knowledge and links the other theories of type together

Understanding Yourself and Others: An Introduction to Interaction Styles
Linda V. Berens
Manufacturer: Telos Publications
ProductGroup: Book
Binding: Paperback

Communications | Skills | Business & Investing | Subjects | Books
General | Communication | Business Life | Business & Investing | 4-for-3 Books Store | Stores | Books
All 4-for-3 Deals | 4-for-3 Books Store | Stores | Books
Similar Items:

The 16 Personality Types, Descriptions for Self-Discovery

Understanding Yourself and Others: An Introduction to the Personality Type Code

Quick Guide to the 16 Personality Types in Organizations: Understanding Personality Differences in the Workplace

Multiple Intelligences and Personality Type : Tools and Strategies for Developing Human Potential (Understanding yourself and others series)

Dynamics of Personality Type : Understanding and Applying Jung's Cognitive Processes (Understanding yourself and others series)

ASIN: 0971214409

Customer Reviews:

Enhances your knowledge and links the other theories of type together.......2007-03-19

This is a great book once you get past the rather condesending first couple of pages. (tells you to be true to yourself which as it is a book on personality seems a little obvious to me but may be useful to others)
The book takes you through the 4 interaction styles and then how they link to other models such as MBTI, Temperament Theory, Disc, Socaial styles, Thomas-kilman (although that is not the main point of the book it is useful information). The interaction styles themselves are based mainly around the role you might play in a work/project environment and the Patterns of Interaction Styles section is a fantastic overview of the drivers of the types.

Overall an excellent build on personality type.

Handbook of Technical Analysis: A Comprehensive Guide to Analytical Methods, Trading Systems and Technical Indicators

Average customer rating:

elementary, but competent
"exceptional book covering the technical gamut"-Tom DeMark

Handbook of Technical Analysis: A Comprehensive Guide to Analytical Methods, Trading Systems and Technical Indicators

Manufacturer: McGraw-Hill Companies
ProductGroup: Book
Binding: Hardcover

General | Popular Economics | Business & Investing | Subjects | Books

Theory | Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Futures | Investing | Business & Investing | Subjects | Books

General | Investing | Business & Investing | Subjects | Books

E-Commerce | Business & Culture | Computers & Internet | Subjects | Books
ASIN: 1557385971

Book Description

Featuring contributions from the top minds in trading. The Handbook of Technical Analysis provides in-depth, up-to-date coverage of every major aspect of technical analysis. It includes Jack Schwager on the uses and abuses of technical analysis; Robert Prechter on Elliott Wave; J. Welles Wilder on RSI; George Lane on stochastics; Steve Moore on seasonals; and Steve Briese on traders' commitments. Others topics include: Bar chart and candlestick charts; Market sentiment indicators, and Gann analysis; Volume and open interest and bullish consensus; Point and figure charts and moving averages.

Customer Reviews:

elementary, but competent.......1999-06-23

Pretty nicely done, but a better title would have been "Handbook of BEGINNING Technical Analysis." I wouldn't call it comprehensive. More like a mile wide and a few inches deep. But if that's what you need this is a nice book.

"exceptional book covering the technical gamut"-Tom DeMark.......1999-03-23

Darrel Jobman has captured the essence of various market timing methods.In simplistic terms he describes the key elements and components of many technical methods. His depth of understanding and his unique ability to present the material is apparent from the first page of the book. For beginner, intermediate, and advanced students of technical anlysis alike, this book is a "must read".

Average customer rating:

Very careful and detailed book
Essential for market analysts and conscientious researchers!
A comprehensive, insightful look at key economic indicators
Comprehensive, very technical, but NOT user friendly.

Handbook of Key Economic Indicators
R. Mark Rogers , and R. Rogers
Manufacturer: Irwin Professional Pub
ProductGroup: Book
Binding: Hardcover

Economic Conditions | Economics | Business & Investing | Subjects | Books

General | Popular Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Economic Conditions | International | Business & Investing | Subjects | Books
Similar Items:

The Secrets of Economic Indicators: Hidden Clues to Future Economic Trends and Investment Opportunities (2nd Edition) (Wharton School Publishing Paperbacks)
The Atlas of Economic Indicators: A Visual Guide to Market Forces, and the Federal Reserve
The Trader's Guide to Key Economic Indicators
Using Economic Indicators to Improve Investment Analysis, Third Edition
Guide to Economic Indicators: Making Sense of Economics - Sixth Edition

ASIN: 0786301937

Book Description

For analysts and traders who need quick access to all data relating to key economic indicators, Handbook of Key Economic Indicators is the essential resource. Here are all the definitions, illustrations and explanations of data that were previously scattered throughout various government resources... in one convenient reference! It provides a clear explanation of how indicators are calculated, compiled and reported so that you can make informed financial decisions.

Customer Reviews:

Very careful and detailed book.......2004-06-17

This book is great. It tells you exactly what the various economic series are, and how they are constructed - down to the fine gory details. I suspect this is the best such reference book available. If the author could produce an updated 3rd edition I would buy it immediately.

Essential for market analysts and conscientious researchers!.......1998-10-03

The Handbook of Key Economic Indicators clearly stands head and shoulders above competing texts in its depth. The first thing I like about this book is that it provides detailed information on important data series and is an invaluable resource to those tracking the nearly daily release of non-financial data. In addition to providing the necessary methodological background for each indicator, the work explains how to interpret each indicator and specifically suggests what to look for when analyzing data reports. I also found that the explanations of the numerous potential sources of monthly volatility are extremely useful- the explanations are clear indications of the author's extensive experience with the data. I was glad to see the Handbook isn't just a rehash of the first edition--it is very current and includes important new sections on the 1996 Boskin Report, the 1998 revisions to CPI (including the impact on inflation growth rates), and the switch in real GDP to a chained dollar basis and how one works with the new data. What I like about this book is that it not only covers the basics in news release interpretation that market analysts want but also that it is an excellent reference for researchers who need a thorough understanding of the major non-financial economic indicators. What sets this work apart is that it has the depth and coverage of methodologies and special topics that similar texts do not have. For the analyst or researcher working with these complicated and often misunderstood data series, I would highly recommend this book!

A comprehensive, insightful look at key economic indicators.......1998-09-24

R. Mark Rogers has written a comprehensive, thorough overview of the key U.S. economic indicators. His book would be particularly useful for analysts new to the business, or to seasoned analysts who need to know more about the nitty gritty behind the numbers. Rogers' handbook is filled with more technical information that some people will ever need, and some will find the level of detail intimidating and somewhat cumbersome. However, the compilation of all this information in one source is extremely valuable, and is particularly useful for those who want a deeper understanding of what the economic data say. The level of technical sophistication is what sets this book apart from others. For those who want to understand more about U.S. economic data than the sound bytes on the news or the quotes in the paper provide, this is the book to read.

Comprehensive, very technical, but NOT user friendly........1998-08-23

This work is highly technical. It provides the genesis and sources for all the leading U.S. economic indicators. A dweeb's delight - however it lacks meaningful illustrations. A few charts were provided, but - like the dismal science, the actual text, tables, and raw data are dull, drab, and unimaginative. For my money, a far more "user-friendly" overview is necessary. This book needs some meaningful graphs, colorful illustrations, and an anectode or two. It could have been made far simpler, and easier to understand. As is, the book has only limited value - especially to the investing public. It's a shame the author went to all that work compiling a bunch of data, but, like most dweeb economists, he doesn't effectively communicate.

Economist Book of Vital World Statistics: A Portrait of Everything Significant in World (Economist Books (Series).)

Average customer rating:

A terrific collection of statistics at a glance

Economist Book of Vital World Statistics: A Portrait of Everything Significant in World (Economist Books (Series).)
Robert J. Samuelson
Manufacturer: Crown
ProductGroup: Book
Binding: Hardcover

Economic Conditions | Economics | Business & Investing | Subjects | Books

General | Popular Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Economic Conditions | International | Business & Investing | Subjects | Books
ASIN: 0812918770
Release Date: 1990-11-07

Book Description

The Economist Book of Vital World Statistics is a unique source of facts about the modern world: essential reading for decision-makers; fascinating and illuminating browsing for everyone.

At a glance, you can see which are the richest and poorest nations; which have the most serious debt problem, the highest industrial growth rate and the healthiest export record; which spend the most per head on sectors as diverse as advertising and defence; which have the highest ownership level of cars, VCRs and microwave ovens; which have the lowest cost of living and the highest murder rate; and which have the best and worst records on environmental pollution.

Charts and diagrams highlight important regional and national variations, and lively text provides expert analysis of key issues and underlying trends.

The Economist is the world's most authoritative weekly magazine dealing with international politics, business and finance. The Economist Books is the specialist book publishing arm of The Economist Group and joint publisher with Hutchinson of The Economist Atlas, The Economist Guides and a growing list of reference and business books.

Customer Reviews:

A terrific collection of statistics at a glance.......2000-04-17

This is a great book for people who need information about different countries. It has statistics on obscure information I couldn't find anywhere else. My only problem with this is that it was published in 1990, so the data is a little old now. Why hasn't the Economist published a new version?

Average customer rating:

Economic Indicators Handbook
Gale
Manufacturer: Gale Group
ProductGroup: Book
Binding: Hardcover

Economic Conditions | Economics | Business & Investing | Subjects | Books

Macroeconomics | Economics | Business & Investing | Subjects | Books

Statistics | Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Economic Conditions | International | Business & Investing | Subjects | Books

General | Reference | Business & Investing | Subjects | Books

General | Reference | Subjects | Books

All Titles | Qualifying Textbooks - Fall 2007 | Stores | Books
ASIN: 078763557X

Economic Indicators Handbook (Economic Indicators Handbook)

Average customer rating:

Economic Indicators Handbook (Economic Indicators Handbook)
Arsen J. Darnay
Manufacturer: Gale Group
ProductGroup: Book
Binding: Hardcover

Economic Conditions | Economics | Business & Investing | Subjects | Books

Economic Conditions | International | Business & Investing | Subjects | Books
ASIN: 0810384000

Economics Sourcebook of Government Statistics

Average customer rating:

Economics Sourcebook of Government Statistics
Arline Alchian Hoel , Kenneth W. Clarkson , and Roger LeRoy Miller
Manufacturer: Lexington Books
ProductGroup: Book
Binding: Hardcover

General | Popular Economics | Business & Investing | Subjects | Books
ASIN: 066906579X

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