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Tools and Tactics
For The Master Day Trader

PART ONE: SEEDS OF WISDOM FOR THE MASTER TRADER

Preparing the Trader’s Mind for Greatness

1) INITIATION OF THE MASTER TRADER: Understanding The Master Trader’s World

Tools & Tactics for the Master Day Trader
  • Do You Understand How High The Cost Is?
  • The Master Trader Requires Only a Few Tools
  • Seeking Success In that Place Called the Here and Now
  • Why The Master Trader Trades With Charts
  • Charts Don’t Lie
  • Tracking the Footprints of Money
  • Give Me the Technicals, or Give me Death,
  • Don’t Show Up to a Gunfight with Just a Dull Knife
  • Seek Knowledge First, Profits Second
  • Short-term Time Frame: The Master Key to Higher Trading
  • Accuracy
  • Why the Short-term Time Frame is the Safest Time Frame
  • My Three Greatest Discoveries
  • Love: The Trader’s Greatest Power
  • Traders & Fortune Tellers

2) DEVELOPING THE MASTER TRADER’S MIND: Keys to Correct Trading Behavior

  • Are You Gambling or Trading?
  • A Win is Not Always A Win and A Loss Is Not Always A Loss
  • The Masses Can’t Win For Long
  • The Bandwagon Theory: A Glimpse at How the Market Really Works
  • Money Isn’t Everything
  • The Danger In Asking "Why"
  • When Accuracy Becomes Problem
  • The Entry is 85% of the Trade
  • Your Perception Will Become Your Reality
  • Facts Will Not Make You Money
  • The Truth Doesn’t Count on Wall Street
  • You Must Become Inhuman to Trade Successfully
  • Opportunity Lies Where the Majority is Afraid to Go
  • Not a Cloud in the Sky? Watch Out!
  • The True Measure of a Successful Trader
  • When No Action is the Best Action
  • Standing Still: The Highest Action of All
  • A Lesson in the Art of Standing Still
  • "Hey Man, Don’t Teach Me How to Think; Teach Me How to Trade!"
  • What Are You Doing With What You Have Today?
  • Is the Past in Your Way?
  • Breaking the Cycle of Pain and Pleasure
  • Sound Techniques Lead to Sound Instincts
  • A Little Paranoia is Good for the Soul
  • We Trade People, Not Stocks
  • A Positive Mental Attitude Makes a Difference
  • Trading With Attitude
  • Daily Food for Thought

3) LOSS: The Prerequisite to Trading Power & Success

  • The Power of Adversity
  • Make Your Losses Work For You
  • Small Losses: The Hallmark of a Master Trader
  • How the Market Speaks to Us
  • How To Lose Your Way To Success
  • Starting Each Day Anew
  • Learn How To Accept What Can’t Be Changed
  • Losing Can Be Winning
  • You Must Learn to Despise Big Losses
  • The Two Lives of a Master Trader
  • Growth is a Flower that Blooms with Time
  • When Losing Become Unbearable
  • Get The Most From Your Tuition
  • Help Me - I’m Losing

4) EDUCATION OF THE MASTER TRADER: How to Save Yourself From Years of Lost Time and Money

  • Find A Winner To First Emulate; Then Surpass Him
  • The Character Of Your Teacher Matters
  • Don’t Be Cheap With Your Future
  • Today, Those Who Can, Do and Teach

5) THE 7 DEADLY SINS OF TRADING: How to Combat Them and Defeat Them

  • Deadly Sin # 1: Failing to Cut Losses Short
  • Deadly Sin # 2: Dollar-Counting
  • Deadly Sin # 3: Switching Time Frames
  • Deadly Sin # 4: Needing to Know More
  • Deadly Sin # 5: Becoming Too Complacent
  • Deadly Sin # 6: Winning The Wrong Way
  • Deadly Sin # 7: Rationalizing
  • How to Find and Kill Your Deadliest Demon

6) PRISTINE’S 12 TRADING LAWS OF SUCCESS: Rules The Master Trader Lives By

  • 1st Law: Know Thy Self
  • 2nd Law: Know Thy Enemy
  • 3rd Law: Get Thee Some Education, Fast
  • 4th Law: Protect Thy Most Valuable Commodity
  • 5th Law: Keep It Simple
  • 6th Law: Learn From Thy Losses
  • 7th Law: Keep Thee a Trading Journal
  • 8th Law: Don’t Make Low Priced Stocks Thy Main Focus
  • 9th Law: Don’t Diversify
  • 10th Law: Realize that No Action is At Times the Best Action
  • 11th Law: Know When to Bow out Gracefully
  • 12th Law: Don’t Ever Make Excuses - They Never Made Anyone a Dime

7) SECRETS OF THE MASTER TRADER: 15 Things Every Trader Should Know, But Doesn’t

  • Secret # 1: There Are No Gifts On Wall Street
  • Secret # 2: Someone is on the Other Side of Your Trade, & It’s Not Your Friend
  • Secret # 3: Professionals Sell Hope; Novices Buy Hope
  • Secret # 4: Home Runs Are For Losers
  • Secret # 5: Make the Chart and the Crowd Will Follow
  • Secret # 6: All Major Stock Market Averages Lie
  • Secret # 7: Buying After the Open is Usually Better
  • Secret # 8: It Usually Doesn’t Pay to Take Profits Before the Open
  • Secret # 9: 11:15 to 2:15 EST is the Worst Possible Time To Trade
  • Secret # 10: It’s Always Darkest Before The Dawn
  • Secret # 11: Wall Street Gurus Will Always Be Wrong
  • Secret # 12: Playing Earnings Is a Game For Novices
  • Secret # 13: Paying Up For Stocks Betters The Odds
  • Secret # 14: The Buy Low Sell High Method is Wrong For Day Traders
  • Secret # 15: Knowing What’s Next Can make You Rich

8) 10 LESSONS FOR THE MASTER TRADER

  • Lesson # 1: Cash Is King When the Street Gets Bloody
  • Lesson # 2: Time Diversification Minimizes Market Risk
  • Lesson # 3: Buying Versus Accumulating
  • Lesson # 4: The Ultimate Decision Making Tool
  • Lesson # 5: Selling the Dogs and Buying the Dolls
  • Lesson # 6: Brains or a Bull Market?
  • Lesson # 7: Rating Newsletters And Other Advisors
  • Lesson # 8: Time Equals Money
  • Lesson # 9: Winners Make It Happen; Losers Let It Happen
  • Lesson #10: Using The Power of Promises

9) FINAL WORDS OF WISDOM FROM A TRUE MASTER

  • Eight Elementary Lessons for Life & Trading -- By Mother

PART TWO: TOOLS & TACTICS FOR THE MASTER TRADER

1) MARKET TIMING TOOLS & TACTICS

  • Market Tool #1: S&P Futures (S&P)
  • Market Tool #2: NYSE TICK Indicator ($TICK)
  • Market Tool #3: NYSE Trader’s Index (TRIN)
  • Market Tool #4: New Lows (NLs)
  • Market Tool #5: Pristine’s Might 5 Index
  • A Stock Market Quiz
  • A Final Word on the Market

2) CHARTING TOOLS & TACTICS

  • Introduction to Charting A Charting Primer
  • Candles Will Light The Way
  • Determining When The Bulls Are In Control
  • Determining When The Bears Are In Control
  • When The Bulls And Bears Tie
  • Charting Tool #1: Narrow Range Bar (NRB)
  • Charting Tool #2: Reversal Bars (RB)
  • Charting Tool #3: Tails
  • Charting Tool #4: Gaps
  • Charting Tool #5: Support & Resistance
  • Charting Tool #6: Retracements
  • Charting Tool #7: Reversal Times
  • Charting Tool #8: Climatic Volume
  • Charting Tool #9: Moving Averages
  • Charting Tool #10: 3 to 5 Bar Drop

3) EXECUTION TOOLS & TACTICS

  • Execution Tool #1: ECN’s
  • Execution Tool #2: SOES
  • Execution Tool #3: SelectNet (SNET)
  • Execution Tool #4: Archipelago (ARCA)
  • Execution Tool #5: SuperDOT
  • Execution Tool #6: On-Line Broker

4) NASDAQ LEVEL II TOOLS & TACTICS

  • A Nasdaq Level II Primer
  • What is Level 1?
  • What is Level II?
  • Upward Momentum
  • Downward Momentum
  • No Momentum
  • Using ISLD to Gauge Momentum
  • Where’s the Beef?
  • Time & Sales: The Individual Footprints
  • Market Maker Characteristics
  • Market Maker Evaluation
  • Determining Who’s the Big Cheese
  • The Jammin’ Session Play
  • The Stacked Pancake Play

5) PRISTINE ENTRY TOOLS & TACTICS: A step-by-step guide to entering stocks like a pro

  • A Proper Entry is 85% of a Winning Trade
  • Entry Technique #1: Pristine Key Buy
  • Entry Technique #2: Pristine 30-Minute Buy
  • Entry Technique #3: Pristine Late-Day Breakout

6) TRADE MANAGEMENT TOOLS & TACTICS: A step-by-step guide to managing your trades like a pro

  • Tool #1: The Initial Stop - Your Pristine Insurance Policy
  • Tool #2: The Break Even Stop - Playing with the Market’s Money
  • The $1 Rule - Once a Winner, Always a Winner
  • Tool #3: Pristine’s Trailing Stop Method - Your Stairway to Profits
  • Tool #4: Pristine’s Time Stop Method - Time is Money

7) EXIT TOOLS & TACTICS: A step-by-step guide to exiting your trades like a pro

  • The Incremental Sale
  • A Personal Note
  • Maximizing Your Gain
  • Riding the Winning Wave in 3 Easy Steps
  • Knowing the Sellable Events
  • When Disaster Strikes
  • How to Handle the Monster Gap Down
  • Steps to Take When Disaster Strikes
  • Signs of Impending Danger

8) HOW TO PUT IT ALL TOGETHER

  • How To Put It All Together Using Daily Charts
  • How To Put It All Together Using Multiple Time Frames
  • Three Pristine Exams for the Master Trader

9) PRISTINE ESP: The future of Electronic Trading Software

  • A Next Generation Trading Tool
  • Automated Trade Identification and Alerting
  • Automated Stock Scanning and Screening
  • How It Works

10) A PRISTINE CONCLUSION

  • You Are A Leader
  • Time Well Spent
  • You "Will" Succeed
  • The Rest is Up to You

What Customers Are Saying About The Book

  • I'm looking forward to learning more from Pristine in the months to come. After purchasing and reading through your book, it is evident that you and your organization truly understand what it takes to be successful in the trading business. I was so impressed that I've decided to open an account with Mastertrader.com

    The Mastertrader representative is currently processing my new account and I must let it be known that he has serviced my inquiries with excellence.

    Thank you again,

    Ernest P.
  • “Over the past four months I purchased and read over 15 very good books on investing, including "Tools & Tactics for the Master Day Trader". Thank God I found that book. The other books were very informative. I learned a lot from them. But "Tools & Tactics" was exceptional.”

    Bob O.
  • “Last week I finished my first read-through of Tools and Tactics For The Master Day Trader, upgraded from Pristine Lite to Pristine Silver, and watched and rewatched the micro trading, swing trading, and intra-day trading videotapes. In 2 days I made enough to pay for the book, tapes, and 3 months of Silver...”

    Henry J.
  • “I have been trading for awhile, but not that successfully, but I found the book at Barnes and Noble around Jan 1, read it. No consummed it. Starting using the ideas and made a great deal of money every day since. So I am a believer.”

    Denton D.
  • “One of the best daytrading educational sites on the Internet. Of the two dozen books on trading that I have read to date the "Tools and Tactics of the Master Daytrader" is by far the best and most well rounded book on the subject (even with all the typos ). I use it as my trading bible and it has shortened my learning curve considerably, saving me thousands of dollars in mistakes that I was able to avoid. I hope to be able to come to one of their seminars some day. Until then. Keep up the great work.”

    Thanks, Michael O.
  • “Just a note to thank you for your recommendation regarding "Tools and Tactics for the Master Day Trader". Of the 7 day trading books that I have read to date, it is by far the most valuable, and easy reading as well. I also purchased the tape on Swing Trading which was valuable as well, although the charts etc. that were displayed were not readable. Even so, it was still excellent.

    Your advice to pick a direction and stick with it was also well taken. The variety of services that are offered by Pristine seem to meet most, if not all, of my needs.

    I am planning on attending the December weekend in Miami.

    Thanks again for your help.”

    Jim S.
  • “I wanted to write and tell you that reading "Tools and Tactics for the Master Day Trader" may be the BEST thing I have done for my trading since attending one of Adrienne's seminars last April!!!

    I am a seasoned trader of 3 years, making my way much as you did as revealed in your book. I have developed my own methodology and trading system based on models that I created for trading the S&P. I use the E-mini and the SPY. I am still struggling as a breakeven trader, though this year I am slightly ahead YTD. It has given me great comfort to know that it took a master such as yourself 6 years!!! Knowing that has taken an enormous amount of pressure off of me(which I apply directly to
    myself) I have been mistakenly lead to believe there are all these daytraders that jump in and make six figures after the first 3
    months.(bull vs brain confusion) I was starting to feel as though I was failing because I am still breaking even.

    Unfortunately my first year as a trader was marked by a 50% gain, I was imprinted by a raging bull market in the small caps and thought I was SMART. Of course you know what happened next. I actually lost 30,000 in a matter of 5 days. I started over and have worked myself to the bone, loving every minute of it too.

    I am passionate about trading. Now after reading your book, I have released myself from the pressure to "get it" in 2 years. In fact, though I keep a trading log, I never thought to create a "journal of losers" What a fantastic idea, and I am going to the book store right now to get a set of 2 journals, one for the winners and one for the losers.

    Thanks for sharing so much great insight. I am getting my traders
    insight, day by day.!!!”

    Sincerely,
    Ms. Shawn T.
    PS I am a swing trader and I LOVED the Bandwagon analogy!!!!! Made
    absolute sense to me.
  • “Gentlemen,

    I realize how busy you both are, and I don't want to be guilty of taking much of your time, however, I could not let another day go by without writing.

    Your new book, "Tools and Tactics For The Master Trader" is one of the best things I have ever purchased in my trading career. It is the most incredible text of all times. The things that you cover in this book touch on so many problems facing traders today. I am guilty of each item that you outlined. I have spent the last two days looking around my office for the microphone that you must have hidden in here in order to be able to describe me in such detail in your book. The time and detail that you have included is a direct reflection of the dedication that you have in helping others succeed.

    In my case, I will never be able to properly 'Thank You' for the guidence and education that you have provided to me. I have implemented many of the stragedies that you have outlined and now I will be working on the hesitation to pull the trigger problems that I face each day. You have helped me understand where those problems are and how to work on them.

    My hat is off to you guys, and I wish you well in everything that you and your company does.”

    With all my graditude,
    Joe F, Las Vegas
  • “I'm now reading your book and it's the best one I have come across. It has really helped me to fine tune my trading. Exactly what I was looking for! ”

    Thanks! Debi
  • “I have learned so much from your book I feel I should send you more money!! (Just kidding) My boss has started using incremental sells and trailing stops to exit positions and has added at least $2000 to his profits for the week.

    Thanks again for your book. It is worth the price of a college education.”

    Mike R, Kansas City
  • “ Congratulations on your great book! It's definitely "the best" book available on daytrading I've ever read. I can relate to evey point you made. It's precise and very useful and a lot of depth knowledge. You get a lot out of this book. I found the intra-day reversal timeframes most useful at this moment for me personally to trade.”

    - Reiko T, Japan
  • “ I have reread the first part of your book this weekend and have to tell you that I think it is the best I have read on the subject of the psychology of trading, the mental disciples necessary for success, as it were. You leave The Disciplined Trader, Trading to Win and the others in the dust. Your strong point, of course is your speaking to this complex issue in simple, everyday language that is so organized and well thought out that it is not only meaningful, but powerful. This section cannot help but become the standard on the subject in the industry. You are to be congratulated!

    Many years ago, there was a series of touted books called Writing Simply,Speaking Simply and Thinking Simply. I could actually hear your voices talking to me as I read that section--and you have incorporated the whole enchilada of the writing simply and thinking simply concepts. The power and simplicity of your writing made me very proud of both of you. I can't wait to get my autographed copy. I'll mark up the one I have (It already looks like a war zone), but I'll treasure your autographed copy.”

    - Harriet F, Florida
  • “ I was in your seminar last week in white plains, I find your seminar so useful. Also I read your book and I find it so complete and the best book I ever read on day trading. I admire your knowledge and info.”

    - David D.
  • “ I loved your book so much I bought 3 extra copies for the other people in our trading company. My boss is going through it and is very intrigued by it. He has been trading for about a year using Realtick III and is interested in attending your next seminar. ”

    Mike R.
  • “ I signed up for a year of "The Pristine Day Trader" today because I now believe, after using the service for 6 weeks, that I will still be trading in a year. I'm reading Tools & Tactics of Master Day Trader. All this for the first time really has provided me with a sense of self control that was missing before finding Pristine. Anyway, just a few words of gratitude to all of you at Pristine for the good work you do. ”
    Aloha,
    Gary M., Hawaii
  • “I was out of country for a couple of weeks. My wife and I went on a two weeks cruise to Spain and Portugal. On the day of our departure I received your book and packed it in my carry-on. Needless to say my wife could not peel me away from your book, and what a wonderful time I had! No phone, no CNBC, no interruptions. Master Day Trader was talking to me. The land of Servantes, Gaudy and El Greco as a backdrop and your Book as a centerpiece!

    Thank you so much for the priceless tool and for the great writing!”

    - Allan A., Ohio
  • “I would especially like to thank Pristine for the effort they put into their book "Tools and Tactics for the Master Day Trader". It is a FABULOUS book....I have learned soooo much from it. The BEST of the five books I have read on the subject!”

    Kieth G.
  • “ I've read a few chapters and its like listening to the seminar, but even better. Actually when I read your saying "You like to hear the cash register ring" it was about 11:30 this morning and it galvanized me into closing all my morning daytrades (i.e. EXFO, ABSC, ANEN, etc).. and fanned the embers of my short positions (FDRY, ELNT, EMC and PWAV). I reported to the thread what I was doing. Nasdaq was still positive, now its down 77. I have to finish reading the 'words of wisdom' before tomorrow's trading. Just when I thought there was not much more to learn.....

    Contratulations, both of you for a great piece of work!”

    Barbara S., Florida
  • “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 (www.candlecharts.com)
  • “Bought the tools and tactics book... great knowledge about both trading and life in general-i recommend it to anyone serious about trading the right way.”

    David S, New York
  • “ 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."”

    Charles L., Homer, Alaska
  • “I have just finished reading your book. Congratulations on one of the best day/swing trading books out there. Thanks and best regards.”

    Selwyn M.
  • “Tools and Tactics for The Master Day Trader is in a different class than many of the stock trading books I've read -- the intrinsic high quality of the underlying material simply shines through. I like the values espoused in this book -- it speaks to my 8 years of short-term trading experience and resonates as "the truth". That's unusual, as far as reading trading books goes!”

    Steve B., Palo Alto CA -- Private equity trader since 1992
  • “Your book is a wonder - the allegories, the philosophic incorporations and of course your trading method is all brilliant. I have read with great entertainment and appreciation to crowds the 'wagon story' !!!”

    - David P., Greenville, SC
  • “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.”

    - George M., New York
  • “I awaited the release of "Tools and Tactics for the Master Day Trader" with much anticipation. I was not disappointed. In fact, I was amazed at the clarity of their approach to explaining successful trading.

    Of particular merit is the 90-minute VHS offering "Swing Trading" The videotape does a masterful job of explaining the most basic of swing trading tactics, using trendlines with candlestick charts which is the core of system, as well as our own.

    From the moment I opened the book and perused the table of contents, I knew I had finally found the book that I could recommend to others without fear. I have read dozens of books on day trading and investing. Honestly, I have put nearly each and every one of them down in disgust or disappointment. Most are long on generalizations and pathetically thin on strategies, tactics, and mind set. You will not find that in "Tools and Tactics for the Master Day Trader."

    The table of contents alone is worthy of note. The book is divided into three parts which logically progress from creating the proper attitude and discipline to tools and tactics to putting it all together in today's electronic trading world. Each chapter is subdivided into topics which are conveniently listed with page numbers in the front of the book. No digging through an index for keywords to find a subject you wanted to go back and review. This book truly qualifies as a manual.

    "Tools and Tactics for the Master Day Trader" makes for good, easy reading. It is obvious the authors followed their own advice given throughout the book. Keep it simple. In fact, I chuckled a bit when I read that one test of a clear trading system is for it to be readily understandable by any intelligent 12 year old. I could not agree more. This book does just that. It is by no means watered down, but it is clear and easy to understand. Frequent uses of similes and metaphors to relate the inner workings of the market to real life make this a good basic educational work on the mass psychology of trading.

    But it does not stop there. A great portion of the book is dedicated to improving the reader's psychological approach to the market, and when I'm asked to point out why most traders fail, this is the primary cause of disaster. In Chapter 5, "The Seven Deadly Sins of Trading: How to Combat Them and Defeat Them," I saw an eerie reflection of my first year of trading. I committed every single one of them. I still have to fight the urge to "sin" in my trading. If each trader could read this chapter and simply apply the wisdom presented, really apply it, the price of the book would be made up within the first day of trading following its application, many times over. They have it right. They say 85 percent of trading is discipline and approach. I say it's 90 percent. I'm not going to argue five points. No matter what the percentage, you cannot and will not win until you conquer your toughest enemy, yourself.

    As for the trading tactics presented, you will find yourself comfortably at home with their main approach of using the basics of trendlines, resistance, and support along with the Japanese candlesticks' revelation of the market's psychology behind stock moves. Each strategy is spelled out in clear, concise language with excellent examples which are as durable as these most basic of trading indicators. There's nothing really fancy about it. It is simple and sound trading at its best. One can apply the strategies from 1 minute charts to daily charts. Each step of the trade setup is spelled out clearly. The temptation will be, as I have said so many times, to try to improve on the strategy. It's too simple. It has to be too simple. How can anything so simple make money in such a complex place as today's electronic markets? Keep it simple, my friends.

    In summary, even grizzled veterans of $50,000 losing streaks who have come back to amass small personal fortunes will find this book of great benefit. For those of you who have not endured the high cost of tuition the market can exact in exchange for making you a more savvy trader, this book may serve to reduce that tuition considerably.

    "Tools and Tactics for the Master Day Trader" cannot make you a better trader; you will have to do that for yourself. But in applying the wisdom found on nearly every page, you could find yourself at least a year ahead of the pack. Would you spend 40 bucks to gain at least a year's worth of knowledge?

    I wish this book had been available to me when first started trading. I saw my first trade go down in a $4500 ball of flames and carnage. I sat back in shock and nearly lost it emotionally. How could this have happened?

    If this book had been out then, I would have at least known why.”

    - Greg Howard, Christian Trader Newsletter

Individual performance depends upon each student's unique skills, time commitment, and effort. Students sharing their stories have not been compensated. Student stories have not been independently verified by Pristine Capital Holdings, Inc.. These results may not be typical and individual results will vary.

Please keep in mind that all comments made by Pristine instructors and representatives are for educational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, options, futures or any other financial instrument of any kind. Consult with your investment advisor before making an investment decision regarding any securities mentioned herein. Pristine instructors and representatives assume no responsibility for your trading and investment results.

There is a very high degree of risk involved in any type of trading. Option and Futures trading is not suitable for all investors. Past results are not indicative of future returns. Pristine Capital Holdings, Inc., its subsidiaries and all "affiliated" individuals assume no responsibilities for your trading and investment results.

Sample Chapter:

INITIATION OF THE MASTER TRADER

Understanding the Master Trader's World

DO YOU UNDERSTAND HOW HIGH THE COST IS?

How high is the cost to be a master trader? While the actual price is difficult to quantify, we have been at the business of trading long enough to know that it's higher than most people think. And in most cases, it's higher than most people are willing to pay. Show me someone who wants to quit his or her job to become a day trader, and I'll show you someone who probably doesn't understand what it takes to be a day trader. Those who feel this is a game that can be conquered or mastered in a few short months are deluding themselves. Not only does it take many months to years of relentless effort to obtain market proficiency, but also excellence seems to emerge only after one has learned and experienced every conceivable way to lose. The truth of the matter is that the pains, the agony, the scars of an experienced trader run especially long and deep. If aspiring market mavens do not possess a great deal of fortitude, or if they lack resolve, are devoid of passion, and are unwilling to forsake all, they simply won't last. Individuals who truly desire market success will have to pay with their blood, their money, and a very big part of their lives. The tuition is high. There is no denying that. But the ultimate reward that goes to those willing to pay the price is immeasurable. Successful traders enjoy an independence that can't even be imagined by most. With a notebook computer and a telephone line, they are free to trade, to book profits, from any place in the world. They can earn more money in 2 hours than most people earn in a month. With the click of a mouse and the stroke of a few keys, successful traders can bring into existence their every material desire and shield themselves from the day-to-day concerns that typically plague the mediocre and the average. By properly responding to the electronic impulses flashing on the computer screen, traders can create the world of their choice, live a lifestyle that supersedes the wildest of all dreams, and rest securely in the fact that no one on planet Earth can take it away. But in order to get there, you must last! To reach the lofty level of which I speak, you must survive, however difficult things get. And that, my friends, is no easy task. 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! Make up your mind this very day that you will either rise or perish. And then watch your unshakable resolve work out the details. You can do it. We know this to be true because we did it.

SEED OF WISDOM

Recognize that the cost of trading mastery is high. Then, provided you accept the cost, decide to make achieving a successful life your "magnificent obsession." Fan the flame of you passion until it ignites into a white-heat desire to attain that wonderful state we call trading mastery. Make your sole mission in life to overcome all obstacles to your success without any thought of ever giving up. This burning desire for trading mastery is the wind behind the sails of every profitable trader in existence. It is what gives the new trader the ability to survive that first booby-trapped filled year of his or her new life.

THE MASTER TRADER REQUIRES ONLY A FEW TOOLS

It has always been my belief that the mastery of a few trading tools is all that's necessary to become a highly successful trader. Most would-be successful traders are incapacitated by the false notion that in order to trade for a living, one must have accumulated a wealth of knowledge over countless years of experience. Not only is this not altogether true, the exact opposite is actually closer to the truth. In fact, it has been my experience that those who possess a limited amount of trading knowledge have a much better chance of becoming effective market players than their so-called overly experienced brethren. Why? Because varied market experiences, if not utilized and interpreted correctly, help to crystallize inaccurate beliefs. And inaccurate beliefs, which are allowed to exist over time, eventually flourish into full-blown, faulty ideologies that ultimately result in the trader's ruin. Knowledge is power, but only if it's the right knowledge. By mastering any two or three of the many trading techniques contained in the Tactics section of this book, you'll be well on your way to becoming a consistently profitable trader. It literally only takes two or three workable techniques to rise to the top of this game we call trading, and we are certain you will find more than enough of them in this book.

SEED OF WISDOM

The best traders are minimalists. They find two or three tactics or techniques that work consistently. Once they've found them, they simply implement them over and over and over. Repetition really does have value.