Tools and Tactics for the Master Daytrader - Trading-Lab

aiki14 · #1 04-07-2008, 09:07 PM

Tools and Tactics for the Master Daytrader - Oscar Velez and Greg Capra

I have been considering a more technical approach of late and bought this book. I finished it this morning and have not made any changes in my methodology based on it as of yet.
The book is a fairly shameless plug for their website www.pristine.com but it does have value in and of itself. I think a new trader with a generally good idea of the market would benefit from their philosophies, and the book is laid out in a very easy to read way that will allow folks to absorb the material and remember it.
They have strategies for swing trading (1-5 day holds) and intraday trading, and set out methodologies, tactics, and indicators, to use in each.
I can't say anything in the book was new to me, much was the stuff that comes with trading for any length of time. I do think that I will evaluate adding some of the concepts they put forth, into my methods, as I shorten the time frame I usually work in. They also have information on making use of various order execution strategies, and ways to identify where and when the smart money is moving.
Overall I would give it pretty good ratings, and say it was definitely worth the $55 I paid for the hardcover at Borders. Newer traders who may not have developed a reliable system may find this as a way to steepen the learning curve, and more experienced traders may get a couple of pieces of information they can use.

I hope this review is of some value, and I did not comment on Mr. Velez or Mr. Capra and their website or their trading outfit as I have no knowledge of either.

Soverus Khan · #2 04-07-2008, 11:20 PM

It is one of the better sites and programs for system development. As always, a system is only as good as the understanding of it's principles, the discipline applied, and the money management skills to allow a drawdown with confidence.

Nice post and review.

Luvnrio · #3 04-08-2008, 12:30 AM

thanks for the post aiki. i look forward to reading this book and while its in transit, i will be exploring their site with great detail.

Thread Tools	Search this Thread
Show Printable Version Email this Page	Search this Thread: Advanced Search
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Master the Four Fears of Trading	Leth	Psychology	0	02-05-2008 12:58 AM
10 Ways To Master The Trade	Leth	Psychology	0	01-23-2008 12:42 PM
Bollinger Band Tactics	Leth	Indicators	0	01-12-2008 04:45 PM
Are Tick and Trin important tools for scalping?	scalper	Scalping	8	08-24-2007 03:47 PM

#1 04-07-2008, 09:07 PM
aiki14 Member Join Date: Jan 2008 Location: Philly Burbs, PA Posts: 82	Tools and Tactics for the Master Daytrader Tools and Tactics for the Master Daytrader - Oscar Velez and Greg Capra I have been considering a more technical approach of late and bought this book. I finished it this morning and have not made any changes in my methodology based on it as of yet. The book is a fairly shameless plug for their website www.pristine.com but it does have value in and of itself. I think a new trader with a generally good idea of the market would benefit from their philosophies, and the book is laid out in a very easy to read way that will allow folks to absorb the material and remember it. They have strategies for swing trading (1-5 day holds) and intraday trading, and set out methodologies, tactics, and indicators, to use in each. I can't say anything in the book was new to me, much was the stuff that comes with trading for any length of time. I do think that I will evaluate adding some of the concepts they put forth, into my methods, as I shorten the time frame I usually work in. They also have information on making use of various order execution strategies, and ways to identify where and when the smart money is moving. Overall I would give it pretty good ratings, and say it was definitely worth the $55 I paid for the hardcover at Borders. Newer traders who may not have developed a reliable system may find this as a way to steepen the learning curve, and more experienced traders may get a couple of pieces of information they can use. I hope this review is of some value, and I did not comment on Mr. Velez or Mr. Capra and their website or their trading outfit as I have no knowledge of either. __________________ I read somewhere that 77 per cent of all the mentally ill live in poverty. Actually, I'm more intrigued by the 23 per cent who are apparently doing quite well for themselves. --Jerry Garcia The idea is to try to give all the information to help others to judge the value of your contribution; not just the information that leads to judgment in one particular direction or another. --Richard P. Feynman

#2 04-07-2008, 11:20 PM
Soverus Khan Senior Member Join Date: Dec 2007 Posts: 306	It is one of the better sites and programs for system development. As always, a system is only as good as the understanding of it's principles, the discipline applied, and the money management skills to allow a drawdown with confidence. Nice post and review.

#3 04-08-2008, 12:30 AM
Luvnrio Member Join Date: Dec 2007 Location: Rio de Janeiro Posts: 93	thanks for the post aiki. i look forward to reading this book and while its in transit, i will be exploring their site with great detail. __________________ "Lead, follow, or get out of the way." Thomas Paine "Insanity is doing the same thing over and over again and expecting different results." Albert Einstein