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

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 @ 60.581-26 - Sold ANDW @ 17.467 (loss .704) - Covered SNDK @ 58.33 profit 2.251.27 - Shorted CYBX @ 32.40 - Covered FRNT @ 10.80 profit .851 - Covered CYBX @ 31.80 profit .601-28 - no activity1-29 - 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 @ 11.751 on 1-20, but was not closed until the period of these trades. The account still held RYL shorted (again) on 1-29 @ 75.76 and DHI shorted at 27.40 on 1-29. RYL was up .26 at EOD and DHI was down (.34) at end of day.)Don't overlook the fact that the market had two huge correction days during this period, January 27 and 28, when virtually all the indexes were down on heavy volume.I also would like to unravel a bit of the negative comments that have been posted here. Many of them have to do with the seminars that these authors conduct. I have nothing to say about the seminars, having never attended one, nor having any intention of doing so. The rest of the negative comments about the book seem to revolve around the fact that there is 'nothing new' in the book, that its concepts are old news. That seems more positive than negative. If they are old techniques then they are to be trusted more, for they work well enough to still be around. Yes, I too found them to be old, but I need constant reminding of the techniques.I can't recall one negative comment that didn't have a good word about the psychology that the authors propound in the first half of the book. Well, to me, technique is about fifteen percent of a good trade and psychology as well as risk management are the other eighty-fi

A Japanese proverb says, "If you wish to know the road, inquire of those who have traveled it." The authors of Tools and Tactics for the Master Trader clearly know the road. Their unique insights, trading tactics and powerful tools, so enjoyably presented, make this a book that belongs on every trader's shelf. Steve Nison, CMT - Author of Japanese Candlestick Charting Techniques

Thanks gawd I didn't trust those 1 star review and bought the book anyway since the index of the book was available on a different site. I have read over 20 books so far and this is one of the best book on trading ever. Yes there is some hype on the pristine service (and some other web site) but far beyound, a great advice from a man who has been there and done that. This book includes some advice (and wisdom) not found anywhere else. If you are serious about becoming a master daytrader, go beyond the noise and the smoke and get to the real thing. Do not enter a single trade before the completion of this book. Very well done Mr. Velez and Capra.

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...nobody is forced to buy the other products. We all have the ability to decide whether or not we will delve further into these products, don't we?To be fair to the other reviewers, they may already be successful traders that don't need the advice in the first half of the book and were only looking for a book that would reveal a system or method to double their income in the next three months. All I can say is that I have been trading for eleven years and the book will probably double my income in the next six months even if I never read the second half. Buy it, read it and decide for yourself.