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

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

List Price: $55.00
Your Price: $55.00
Product Info Reviews

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Rating: 5 stars
Summary: Fantastic Book!
Review: I got your fantastic new book, the best so far on short term trading!

Rating: 5 stars
Summary: Masterful
Review: Wow! If you're interested in becoming a Master Trader this is certainly the book.

I have been on the look out for what it really takes to be successful at trading and this has outlined if for me step by step. From the proper mental state it requires to the proper entry and exit, and ultimately how to put a winning trading plan together. Can you say "Adhere to your stop loss"?

Mr. Velez has apparently not only mastered the art of trading but the art of writing as well. It was real refreshing to read.

I would highly recommend it to anyone interested in Mastering the Markets!

Rating: 5 stars
Summary: Best Book - Great web site
Review: Love your site, received and read your book over the 4th. Probably the best I've read, ranks with O'Neils stuff. Been doing this (swing and day trading) for about 13 years, learned a lot the hard, bloody and expensive way and is really great to get some reaffirmation on some of my hard lessons and conclusions thru the book and to learn new things. Especially good to get hammered over and over and over to "DROP the losers."

Rating: 5 stars
Summary: A Must Read!
Review: I recently took a one-week vacation with my wife and two kids and had the opportunity to read this book that I so anxiously had been anticipating and wanting to sink my teeth into. I'll tell you... it was worth the wait!

The writing is unique, funny, and at times very philosophical. It really makes you think. Think like a real professional that is. When do I kill a trade, when are my odds best to enter a trade, what is the herd doing, when is it best to just sit and wait, when is the best and most precise time to strike with confidence and why! I found it enlightening to be able to look into the minds of two traders and how they go about their trading lives. Thinking right and having the proper mindset are so important and this book really seemed to hit that home for me.

What's great about this book is that every reader will walk away with something different. Some will find the charting techniques, the cash management skills, the level II interpretation, amongst other subjects to be the most meaningful and eye opening. For me it was the psychology and the revelation that you cannot eliminate loss, but rather that the art lies in how you manage it.

As a successful Pristine Student I have learned to pinpoint key turning points with great accuracy, and as a result I experience very few losing trades. I had almost eliminated loss. I recognize now that this is a dangerous mindset to be in. One that almost guarantees failure because losses are inevitable. Due in part to such a mindset I have found myself at times holding on to a losing trade a little too long simply because I did not want to ruin my long streak of winning trades. This is just outright silly. This book has helped me come to the realization that in trading as in life, losses and mistake will happen and cannot be avoided. This lesson alone will help me take my trading to a brand new level. I will read this section of the book over and over again until it becomes an innate part of my being.

These are just some of the items that left an impression on me. I hope they help you as well. All in all the book was excellent. I found it to be the most comprehensive book on the subject on the market. It offers something for everybody. From the novice to the self proclaimed trading expert.

It is sure to become the Active Traders book of choice for many years to come.

Kudos to the Pristine Crew for a job well done.

Rating: 1 stars
Summary: Kidding?
Review: I had just finished reading the brilliant and hilarious "Trillionaire Next Door" when I picked this book up. At first, I thought, is he kidding? At least the bragging about phenomenal returns is INTENTIONALLY funny in "The Trillionaire Next Door." Save your money on this one.

Rating: 1 stars
Summary: Selling Hope
Review: In his book Mr Valez says that a professional trader sells hope. Well, in that regard i must say that he is one of the best out there, because he sells a lot of hope, but not much else. Pristine offers a daily newsletter for $1500 per year, the over riding message of which is that you should join or trading room for $525 per month. As soon as you get into the trading room you are urged to spend $1000 on Olivers seminar if you really want to become a master. And, when you pony up the money for the $1000 dollar seminar, you learn that yet again you must come up with more money, paying $3500 for another seminar, to really really become a master. At each of the seminars you also learn you should continue to pay pristine $1200 per year if you want to "keep the lightbulb on". The over riding message of this book is much the same as their other products, give us money.

...[Mr. Valez] is obviously a good sales man, which protects the proparty owners of New York from him, but unfortunatly unleashes him on the public.

His book offers little of value. If you really want to learn to be a Master Trader the best way is to do most of it on your own. There are a few good books out there, Street Smarts, Stock Trading Wizard, but the real Master Trader knows that chatrooms and newsletters will not do him any good at all, but Mr Valez wants you to think thats exactly what you need. The price of hope is expensive.

Rating: 1 stars
Summary: Master Day Trader
Review: The author Oliver Velez says it best "Those that talk a winning game will always outnumber those who really play a winning game." This book is just another in a line of self promotion and advertizing. It adds nothing to the subject.

Rating: 3 stars
Summary: Tools and Tactics for the master daytrader
Review: This book is very well written and is full of good information, but I feel as if I am being taken in again by the "Pristine PR Machine". I hear Mr Valez touting that his personal portfolio is up over 700%, yet his daily newsletter throws out pick after pick, then they tout the one or two winners, ignoring the 99% that lose.

I hear Mr Valez talk about Rags to Riches in his struggle to the top, and being evicted 27 (thats twenty seven) times in his youth while trading. These are all great stories, and good on him for overcomming struggles, but I keep asking myself why should I follow someone who has bilked 27 homeowners out of hard earned cash. As a homeowner I dont take this lightly.

Am I being taken again with this book I keep asking myself? Is this another "Wade Cook" PR machine? Between the Newsletter track and evictions I think I will push the "pass" button. Take the information for what it is worth, but dont chase the hype.

Rating: 1 stars
Summary: A Long Sales Pitch!
Review: This book is well written. However, I wish the authors would have taken the long sales pitch out of the book and concentrate their effort on giving us all the details. A better name for this book would be, "This is why you should buy my services." This book is like a teaser seminar and is written in such a way that makes you want to buy the other expensive services the authors offer. This is what the message of the book is, "So if you are truly willing to pay the price, the best advice I can give you is this. Develop a plan, find a mentor who will teach you, and never surrender!" And this mentor of course is [their website], a firm owned by the authors. These services will cost as much as $3,500 for a mini seminar and over $500 a month for the mentoring services through their chat room. For [the money spent on this, I expect a book that gives out all the details and not a long sales pitch!

Jesse Livermore, the famous stock operator of all time, said that tips come from all sources - from a relative, friends, loved ones, from gurus who want to pass on their good fortune, and they also come from huckters and criminals. ALL TIPS ARE DANGEROUS - TAKE NO TIPS! This was his number one rule. With all the respect to the authors, a service that provides you with stock tips would have not been respected by the greatest stock trader of all time. You must make your own trades - and I completely agree with that philosophy. It is a shame, because this book could have been really good.

You can get most of the material that is in this book without the brain-washing sales pitch from Toni Turner's book, "A Beginner's Guide to Day Trading Online," which sells for [much less than] the price of this book ... on amazon.com. Toni was trained by the authors of this book and wrote out all the same strategies in her book. It is a much better and economical choice in my opinion.

Rating: 0 stars
Summary: Excerpts From The Book
Review: INTRODUCTION

Make no mistake about it my friends. We are at the doorstep of a brand new era. If we had to give this era a name, we'd call it the era of self-empowerment, and the revolution that marked the dawn of this era is only in its infancy. A 20-year decline in commission rates, coupled with new order-handling rules, the Internet, and phenomenal technological advancements have helped level the playing field and open the hidden door to Wall Street forever. The old guarded ways, designed to keep the public from true access, are crumbling as we speak, the age-old profit centers once hidden are now being exposed, and a more sophisticated investor is demanding that it stay that way. Never before in history has the complete democratization of Wall Street been so near. And never before has so much opportunity been available to the average individual on Main Street. In the next few years, that opportunity will be even greater. Our question to you is, "Are you ready?"

We see a day, not too far in the future, when there will no longer be fragmented exchanges in America. The stage is being set right now for one giant, unified U.S. Stock Exchange. Shortly after that, we see a day when there will be one world-wide stock exchange, bringing true capitalism in its purest form to all four corners of the earth.

Shortly after that, or even before that, the day will come when every single computer sold on the planet will come with a preloaded trading platform that provides direct access to this world-wide market, giving individuals the ability to trade anything on earth that moves: stocks, bonds, options, futures, rocks, trees, in-laws. Well, may be not in-laws, but once again, we have to ask, "are you ready?"

The stage is being set for an incredible drama that will most definitely be played out over the next 5 to 10 years, and those who get prepared today, those who get trained and educated now, stand a good chance of becoming the new titans of the new game on Wall Street.

WHAT METHOD DO YOU USE TO PICK YOUR STOCKS?

Our approach is a technical one. It is based on a number of very reliable chart patterns that represent key short-term shifts in market psychology. There are certain chart patterns that pinpoint when a change in the balance of power between the buyers and sellers have occurred. We will teach you not only how to identify these chart patterns, but also help you to build tactics and strategies that are designed to profitably exploit them.

Charts are the footprints of money. And let me tell you something, they don't lie. They are like a doctor's x-ray, which provides deeper insight into his patient. In the trader's case, the market is his patient.

For instance, we have found that stocks experiencing a great degree of momentum tend to correct (or rest) for 3 to 5 days before they resume their upward moves. This 3- to 5-day decline typically sets up a unique opportunity for the educated swing trader. We teach, through this book and a variety of services, when the trader should strike, where the traders should place his protective stop, and what the trader should look for in the trade.

PREFACE

There I was, nearly 6 years ago, sitting in front of what was then a sophisticated trading system, waiting for the market to open. I was anxious to make a trade. It would be my very first as a professional day trader. The opening bell rang. And, instantly, blinking red and green quotes, along with shifting NASDAQ market makers, battled for my attention. They seemed to be using my computer monitor as their terrain. In the midst of the chaotic price quotes, I saw what I thought was an ideal opportunity. I was nervous. The moment of truth had finally arrived, and for the briefest of moments, I doubted.


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