Options Trading Books
A Beginner’s Guide to Day Trading Online (2nd edition)
Amazon Price: $10.85
Customer Review: Please read this book BEFORE you start day trading. There are so many pitfalls to this profession that you must be armed with useful tools before you start doing it. It is much to easy to lose everything gradually or rapidly for the beginner. Don’t follow her recommendations at your own peril.
Option Volatility & Pricing: Advanced Trading Strategies and Techniques
Amazon Price: $40.95
Customer Review: One must keep in mind that book was written in early 1980s, and still one of the best works on options trading. Whether you are a beginner, intermediate or seasoned options trader, it certainly worth reading; even the seasoned options trader will learn few things and certainly help organize your thoughts. I like this book and still refer to it every now and then in my trading activities.
Hot Commodities: How Anyone Can Invest Profitably in the World’s Best Market
Amazon Price: $11.16
Customer Review: I recommend this book to anyone who has never traded commodities/futures and want to learn background information about what commodities are, why they are traded, and why they are key to having a well diversified portfolio. I also recommend this book to traders (like myself) who have previously traded futures on one or two commodities, and are looking to expand their trading book to include other commodities.
For those who are looking for a book on how to trade commodities, this is not it. This book only goes into the backgrounds of various commodities, what drives their supply and demand relationship, and what Jim Rogers sees occurring in the future. Finally, the book includes several charts and indexes that show various commodity’s relationships when compared to things like equity market prices when adjusted for inflation, and how index’s like the GSCI are calculated and weighted.
Options Made Easy: Your Guide to Profitable Trading (2nd Edition)
Amazon Price: $18.45
Customer Review: This book is great for learning the terminology of OPTION’s. Easy to understand graphs augment the words for learning what VERTICAL and what CALENDAR SPREAD’s are. Everything else is/are just various combination(s) of these very basic two. That’s it!! It’s that simple.
From there, learn the four Greeks…
- DELTA,
- GAMMA,
- THETA, and
- VEGA…
then,
- find a product with MASSIVE LIQUIDITY (like the SPYders),
- place a Position (SELL JUNK (OTM Options) with either an IRON CONDOR or a BUTTERFLY)) 4-10 weeks out before expiration with 60% to 75% chance of success,
- collect $$$ off the THETA DECAY (24/7, including Sat, Sun, & Hol),
- GET OUT 4-10 days before expiration,
- MANAGE RISK (try to keep a DELTA NEUTRAL situation), and
- Be happy with your small change… they do add up!!
The rest? IMHO,
- Charts,
- Technical Analysis,
- Fundamental Analysis,
- Supports,
- Candles,
- watching MSNBC,
- consulting your Fairy Godmother, etc etc… FORGET IT.
Nobody knows anything. 85% of Mutual Fund Managers CONSISTENTLY FAIL to outperform the S&P500.
Also, please remember, the DJIA is a MANIPULATED NUMBER!! I think of the original 30, only GE is left. All the rest were replaced (some numerous times) to keep it coninuing on in an Upward Trend… did you know that?
Technical Analysis for Dummies
Amazon Price: $16.49
Customer Review: There was a modest amount of good info embedded in a lot of fluff and useless verbiage which is typical of these dummy books. I found myself having to carefully review and sometimes reread sections to parse out the important bits. I think what I really needed was just a book of pictures of chart patterns with short explanations for each one. Anyway I got enough out of this to get me started but it was more work on my part than it needed to be.
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