Book Description
In order to survive and thrive in today's financial markets, you must seriously consider the use of options in your investment endeavors. Options allow you to reap the same benefits as an outright stock or commodity trade, but with less risk and less money on the line. The truth is, you can achieve everything with options that you would with stocks or commoditiesat less costwhile gaining a much higher percentage return on your invested dollars.
After numerous years as a market maker in the trenches of the New York Mercantile Exchange, few analysts know how to make money trading options like author Lee Lowell. In this well-rounded resource, Lowell shows both stock and commodity option traders exactly what works and what doesn't.
Filled with in-depth insight and expert advice, Get Rich with Options provides you with the knowledge and strategies needed to achieve optimal results within the options market. The book quickly covers the basicshow options are priced, strike price selection, the use of Delta, and using volatility to one's advantagebefore moving on to the four options trading strategies that have helped Lowell profit in this arena time and again: buying deep-in-the-money call options, selling naked puts, selling option credit spreads, and selling covered calls. Using these strategoes decisively, he says, is the fastest route to riches in the options trading game.
Get Rich with Options is packed with real-life examples of actual trades and detailed discussions of how options can be used as a hedging, speculating, or income-producing tool. You'll learn how to set up a home business with the best options trading software, tools, and Web sites. And you'll begin to see options in a whole new light and discover how to become part of a small group of investors who consistently win.
Customer Reviews:
A little hype-y, but a very good introduction on how to use options..........2007-08-29
The majority of books I've read on investing in the stock market are focused on buying and selling of actual shares of stock. I vaguely know of options, using puts and calls to leverage blocks of stock for small amounts of capital. But Get Rich With Options: Four Winning Strategies Straight from the Exchange Floor by Lee Lowell does a good job in explaining how that all works, and how best to structure your option trading to incur minimal risk and maximum gain. It just takes a little bit to get past the "over the top" title...
Contents:
Part 1 - The Option Basics: It's All About the Calls and Puts; How Options Are Priced; Option Volatility; Stocks versus Options; Why Option Selling Is Your Key to Success
Part 2 - The Strategies: Buy All the Stock You Want for Half the Price; Getting Paid to Buy Your Favorite Stock; Option Credit Spreads - The All-Star Strategy; A Day in the Life of the Market Maker; Put Your Stocks to Work - Sell Covered Calls; A Bonus Strategy - Ratio Option Spreads
Part 3 - Getting Ready to Trade: Tools of the Trade; Brokers and Commissions
Conclusion; Index
Lowell has experienced the option trading life as both a member of a brokerage firm and as an independent trader. His experience comes into play in the book, as there are detailed analyses of some of his trades that illustrate the different strategies. Part 1 was perfect for someone like me who has heard of options, and perhaps knows the bare basics, but doesn't understand why and how they are priced. Now all those things like volatility and deltas make sense. Part 2 is where he gets into the strategies he uses to buy and sell options. A couple of them are pretty easy to understand once you have the basics down (like the covered calls). In fact, it's hard to imagine why more people don't do that. A few seemed more complex and confusing, such as the ratio option spreads. Perhaps with a few more readings, it might have sunk in. But I'm not sure I was prepared by the end of the book to execute those strategies...
The main knock I have against this book is that everything's successful and works in his examples. He's pretty clear as to where the risk lies in each of the strategies. And it's easy to see how options *do* mitigate your potential loss risk while giving you a much better chance of walking away with some profit. But unless you're trading thousands of option contracts with plenty in your brokerage account to cover your exposure, the average trader is going to be walking away with a few hundred or so in profit from these techniques. Not quite "rich", but far better than watching your stock plummet or stagnate over the years. And I *really* would have liked to see him show some of the trades that *didn't* go well. He alludes to nothing being perfect or a sure bet, but you certainly won't see him dwell on the imperfections here...
Overall, this is a good book that covers a complex topic in an understandable fashion. I would have preferred a bit less hype and salesmanship, but it's not so bad as to detract from some good information and advice.
easy to understand.......2007-08-23
I recommend this book for anyone interested in learning about options. It is easy to read and understand and will give you a good foundation.
great for more conservative investors interested in options.......2007-08-12
I thought this book did an excellent job of explaining some more conservative option strategies - such as buying a deep in the money call instead of buying the stock outright. Covered calls and put-sells are also covered plus 2 other strategies I doubt I would ever use. This book does not go into exotic and very risky option techniques. By the way, the title just does not fit the book.
I loved this book!.......2007-07-27
I recently started trading options successfully. The book is right on the money! As it clearly states, you must be right on the time and direction of the market, guessing won't cut it, unless you opt for the delta neutral strategies. I've read many options books and this one is the one I like the most, I highly recomend it.
Worth reading but lacks specifics.......2007-07-12
Mr. Lowell presents useful discussions of option basics as well as his favorite option trading strategies. He gives many examples of profitable credit spread trades, although all involve options on futures rather than securities. There is no explanation as to why options on securities are not included. I was also left wanting for some specifics on how he selects spreads with the highest expectation for returns, and how the he determines when to exit the spread trades prior to expiration. The information on available internet data sources is very good.
Average customer rating:
- Amazing Psycology
- Like the name says
- a mindset for stock trading
- Only for the Serious Traders
- The Disciplined Trader: Developing Winning Attitudes
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The Disciplined Trader: Developing Winning Attitudes
Mark Douglas
Manufacturer: Prentice Hall Press
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Binding: Hardcover
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Customer Reviews:
Amazing Psycology.......2007-09-28
If you are looking for a answer to your trading psycological problems, this is it!!! This books takes you into a journey of understanding your self and your physical functions as a primary element of trading success. I have understood where my fear comes from and of course, I have understood that everything is an illusion and that the market cannot do anything to me.
You outhere, readt it!!!! You will open yourself to a new state of mind.
Like the name says.......2007-07-22
This book is all about discipline in trading. Great reference book, and I think it should be taught in courses as well. After I read this book, I reviewed all the losses I made in the stock markets over the last 14 years of trading, and found out that most of them simply was due to the lack of discipline !
The book is written in a great language, where I believe the writer fought hard to choose every single word.
A must have for everyone who trades, intend to trade, or even experienced trader.
a mindset for stock trading.......2007-03-31
the author takes you from his time as a novice stock broker, personal banckruptcy and all, to his eventual success. And it comes down to psychological mindset. The market is a whole different animal from anything you have ever experienced. Indeed, it is your past experiences and successes that may cause you to fail in the market. So, before you ever trade, this book is a must.
Only for the Serious Traders.......2007-01-25
Fantastic book that deals with how we think when it comes to trading. It will challenge you, it will make you think, it will entertain you and it will give you direction. Do yourself a favour and order a copy. If you are prepared to look deeply into how you think while you trade then this is a must have book.
The Disciplined Trader: Developing Winning Attitudes.......2007-01-11
Absolutely one of the finest books of its kind, I keep it beside me like a bible.
Book Description
After conclusively demonstrating why most popular options strategies don't work, Mr. Lyons reveals in his book Winning in the Options Market, the three strategies that can produce profits year after year. Specifically: A strategy not found in any other book, this method has produced an average annual return of 74% over the last 12th years. This extraordinary approach involves buying and selling options on two different stocks that are selling for the same price; Covered portfolio writing, a strategy which has produced a return about three percent higher than conventional covered call writing; Writing naked options--by reducing the risk through diversification, this strategy historically has produced very high returns.
Customer Reviews:
One of the best options strategy books.......2006-05-08
This book is somewhat out of date. However, it has a great deal of good strategy advice on how to evaluate option positions for risk and for reward. The author provides a straightforward and clear analysis. I recommend it highly. The strategies he proposes are not for small investors interested in playing the options market with a couple of thousand dollars. To achieve adequate diversification, and minimize the impact of transaction costs, one needs to invest a minimum of 30K and better 50K-100K in one of these hedges.
Read this book and you will learn a great deal about the mathematics of risk and reward.
Not an options-expert.......2002-07-12
This so-called options-expert says that options have a different value for different investors. Well, that's simply not true, it doesn't matter whether you buy an option for speculative reasons, or write it to make some extra return, you can calculate the optionprice with the Black and Scholes fomula.
The author correctly states that you should buy options that are undervalued, but his buying criteria don't make any sense.
This book contains many other errors, and with this book you will definitely not outsmart the pros, as the title suggests.
simple ,clear and to the point.......1999-08-14
I started to understand things better about the why and the why not of options.Definitely recommend it to beginners.
Not what I had hoped for.......1999-01-18
Not the worst book I have read on investments, but certainly not the best. The author spends much of the book explaining why he believes standard option trading techniques are doomed to fail in the long term, but his rationale are at best fuzzy. He does do a decent job of outlining his twist on covered call writing and portfolio hedging, but does a poor job of backing up his claims; uses a lot of statements like 'should create a greater return' than standard methods. Should? I'd like to see a bit more testing than just his gut feel. Overall, a quick read, lots of Lotus 1-2-3 spreadsheets, and some potentially useful ideas, but be prepared to work out a lot of it on your own.
Good Starter.......1998-10-05
I found this book insighful and informative for both the novice and experienced trader. I only failed to give it 5 stars because there appear to be a few errors in the spreadsheet code included in the appendices. If anyone has encountered the same problems I would appreciate hearing from them.
Book Description
With his take-no-prisoners 1994 book Winner Takes All, Bill Gallacher first carved out a reputation as a no-nonsense authority on the futures trading game. Now, with The Options Edge, he focuses on the world of options on futures, exposing the shortcomings of current theoretical pricing formulae and offering a simple, understandable, and widely applicable option pricing model without invoking any complicated mathematics whatsoever. Gallacher¿s watershed book represents nothing less than a new mindset for trading options on futures, a revolutionary approach that depends less on esoteric, theoretical abstractions and more on empirical evidence gathered from the real world of options trading.
Customer Reviews:
Fast and enjoyable read.......2002-05-17
This book contains some very useful information for people who write options and wonder if their profitability is sustainable over the long run (hence the title "options edge"). Although Gallacher states that the edge between writers and buyers is zero (based on his empirical evidence); he illustrates that writers still can make consistent positive return on their trading, as long as they sell implied volatility which exceeds historic volatility and as long as they cover their short positions in options with futures at strike. Unfortunately, Gallacher doesn't compare LEAPS to futures as a way to cover short positions in options. An easy and enjoyable read!
Interesting book for option writers.......2002-05-13
This book contains some useful information for option writers who wonder if their profitability is sustainable over the long run (hence the title "options edge"). Although Gallacher states that the edge between writers and buyers is zero (based on empirical evidence); he illustrates that writers still can make consistent returns if they sell implied volatility which exceeds historic volatility and if they cover their short positions with futures at strike. The book is easy to read and I finished it in half a day.
yes, but the risk.......2000-08-23
The research work is better than most available and the writing very good (See his other book as well). However if somebody can answer the following: Isn't there a risk of blowing up the strategy with a string of limit days? They may be rare, but their effects are extreme (see Nassim Taleb's site and/or book). At one point limit days are mentioned; they are handled by using the price at the limit. This assumes that one can trade futures at the limit price, which is not a guaranteed thing. Otherwise, the new and refreshing look at option pricing is excellent. Clearly accuracy is more important than precision in markets with bid/ask spreads and Mr. Gallacher is able to cut to the core of the issue. Lots to consider, but that one problem remains.
Highly readable and full of wisdom.......1999-05-01
This book is a very enjoyable read. The author uses real world data from options on futures to demonstrate where the edge really lies, allowing the trader to improve his chances. It is written in a very practical manner, showing the many weaknesses of highly theoretical option pricing models and why they rely on needless mathematics. The reader will see how options work in the real world. This book has been written by a real trader not a theorist. As a options trader myself, I would highly recommend this book.
Finally a no-nonsense book on options!.......1999-04-26
William Gallacher managed to write a thorough analysis of options tradings and its probabilitiy. This is the best book on this subject since Natenberg and McMillan. "The Options Edge" illustrates the real mechanisms of market behavior with in an easy to understand approach to come up with an appropriate strategy in various market conditions.. The book was definetely written by a practitioner. Buy it! It is enjoyable for both the novice and the experienced market player!
Average customer rating:
- "Passes" The Test of Time
- The Best Book About the Passing Game
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Winning Football With the Air Option Passing Game
Homer Rice , and
Steve Moore
Manufacturer: Prentice Hall
ProductGroup: Book
Binding: Hardcover
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ASIN: 0139610383 |
Customer Reviews:
"Passes" The Test of Time.......2003-03-10
Coach Rice has produced a masterpiece which has withstood the test of time. Although written in the 1980's, "Winning Football With the Air Option Passing Game" remains an important treatise on using formations and motion to isolate a given defender against two receivers. Quarterback reads then become as easy as finding one receiver, then checking down to the other if the first is covered.
This makes Rice's book invaluable to those coaches who are looking to insert some passing into a ground-based attack, rather than spreading out five receivers and throwing on every down.
Of course, Coach Rice does such a masterly job of explaining and diagramming his pass route combinations that even pass-happy offensive coordinators will find useful insights here.
Highly recommended.
The Best Book About the Passing Game.......2000-11-21
For anyone who wants to understand the passing game. This book is easy to read, has lots of diagrams, and is user friendly. If you want the tools needed to implement a winning passing game this book is for you! I purchased this book for my private collection. This is one of the best books, on the passing game, that I have read so far.
Book Description
The meteoric rise of electronic trading has swelled the ranks of day traders profiting from minute changes in the value of a given market or investment within the trading day. Without the psychological or technical background to be successful, many traders can lose their life savings "playing" this challenging market.
To have an adviser and mentor with nearly 30 years' professional trading experience, willing to share his techniques as well as the secrets of the best and most successful traders, offers an unprecedented opportunity for every day trader willing to learn the ropes.
In The Day Trader's Advantage, Howard Abell focuses on the dynamic real-time market characteristics, the psychological considerations and changing technologies required to make more winning trades. Here traders will find a wealth of proven, profit-making strategies, including:
*online day trading techniques to maximize profits *how winning day traders think *technical tools to achieve market discipline and consistency *how to predict the best market entry and exit points *day trading opportunities in both equities and futures *the psychology of success and overcoming barriers
Every trader can discover high-profit insights into the dramatically changing face of day trading, including profiles and secrets from top traders and market experts.
Customer Reviews:
Swing day trader's book.......2001-01-08
Plenty of fluff in this book. But also some genuinely good trading ideas. That is more that can be said for most trading books.
The Day Trader's Advantage, How to move from one winning pos.......2000-03-07
Because of the author's name and reputation, I was anxious to open this book, read and gain something. Within forty minutes of the read, I found myself skimming through the book to find something with some meat in it. Instead, I found the first 24 pages covering "The Psychology of . . .", "Overcoming the Psychological Barriers . . .", etc., etc. Then we go to 8 pages that touch on "Market Analysis & Day Trading," and then, "The Innergame Trading Approach." Mind you, 8 pages, or a little longer than most forewards. The vast remainder of the book is the author interviewing several well know traders about this and that. The questions are general and as often as not the trader being interviewed rambles on in generalities. My impression of this work is the author was evidently long on positions in the market and decided to write this book while he waited for a price move. Conversely, a book I purchased at the same time,"Trade Your Way to Financial Freedom," by: Van K. Tharp is excellent. This book has something to say and information for anyone to consider or incorporate.
I reread it, its better than i first thought!.......2000-01-29
I reviewed this book before and gave it fewer stars. i reread it a few times, and I must say its better than i thought. the "strategy" section is not much, but quite frankly you will have to find your own anyway, so that is not so important. the psychological aspects covered in the book as well as the interviews are quite good. Trading only has to be as complicated as you want it to be. you can learn that lesson from this book as well as many others.
Very Impressive.......1999-10-18
Interesting and well-written day trading volume. It has heped my trading immensely.
Very basic ideas. nothing new........1999-10-15
Im sure the author is a great trader. However, there is not very much content in this book. If you are familiar with basic trading ideas and the importance of self-control, confidence, and disipline, you will not find anything new here. This is definitely not charlitan material like so much of the other "educational" trading books out there. However, I did not find it worthwhile.
Average customer rating:
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Option Offense for Winning Basketball
A.L. Walker
Manufacturer: Prentice Hall
ProductGroup: Book
Binding: Hardcover
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ASIN: 0136383610 |
Average customer rating:
- pay attention to the bad reviews
- Very little trading information...
- The Art of Electronic Futures Trading
- Just curious
- Know yourself before you trade
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The Art of Electronic Futures Trading: Building a Winning System by Avoiding Psychological Pitfalls
William S. Kaiser , and
James Emerson Green
Manufacturer: Mcgraw-Hill
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ASIN: 0071355855 |
Book Description
Strategies to help electronic futures traders let intellect and instinct - not emotion and adrenaline - rule their trading Hot on the hells of electronic stock trading, electronic futures trading promises to be the next big wave. The Art of Electronic Futures Trading is the first comprehensive examination of the unique psychological aspects needed to successfully trade electronic futures - complete with real world feedback and pointers from actual traders! A multi-step personality test illustrates the four categories of trading style, pointing traders to the right style for their personalities. It then helps them build high-profit, personalized systems using elements that include: *A 5-step plan for successful electronic futures trading *Technical indicators to spot trending and sideways markets *How using pattern recognition can lead to more profitable, disciplined trading
Download Description
The Art of Electronic Futures Trading focuses on both the techniques and the mindset required for e-trading success.
Customer Reviews:
pay attention to the bad reviews.......2005-12-20
I don't usually write reviews but I have to do my part to ensure this book recieves the rating it deserves. See review below that guy is on to something the current rating is a scam. There is almost nothing of value in this book you could probably write a better trading book yourself after reading about ten of them. All the information is very general and could be found most anywhere but in much greater depth. I also question whether the authors know basic mathematics - "%D = 2/3pv%D + 1/3%D" and "High and low bands are also parallel lines plotted above and below the moving average lines." Nice. This book was a complete waste of my day thank god I did not pay for it. Enough said.
Very little trading information..........2002-03-04
I was disappointed in this book, as it contains very little information that is applicable to trading strategies. The only information in this category is very general and would be found in virtually any trading book. Primarily, this book seems to be one big advertisement for the futures industry. A large section of the book is devoted to the history of online trading and the companies who shaped it as well as interviews with principals of these firms.
If you are a new trader, you may find something useful here. If, however, you are a seasoned trader, there is virtually nothing in this book that you will find helpful.
The Art of Electronic Futures Trading.......2001-12-07
Starting with the history, and ending with the future the authors (who are the originators of electronic futures trading)leave no stone unturned. This book is a must for all serious futures traders whether a novice or a seasoned professional.
Just curious.......2001-09-11
OK, I didn't read this book, although I did plan to buy it until I found something curious. This book was published in Nov. 2000, and all 10 reviews before me were posted in Dec. and Jan. 2001? With the first 5 of 7 claimed to be from IL? Go figure.
Know yourself before you trade.......2001-01-24
Finally a book that prepares you mentally as well as technically before you begin to trade. I like the way that the book gave you a test on what type of personality traits you have and then recommended two specific categories subjective and objective. Once into one of these categories I felt comfortable in what Kaiser and Green were saying on how to develop a system that is right for my personality. I have actually tested and traded the system that I developed with the books help. Not only did the system test out well, but when I started trading it, it traded exactly as tested. Thank you, Thank you Kaiser and Green
Book Description
Careers, social events, and activities of personal interest crowd out time that should be spent parenting and coaching our families. The time that is needed to connect with the Lord is not even on the schedule. It appears that your focus and perspectives are shaken from the eternal to the temporal. Dr. White has written this book to serve as a guide for parenting, particular boys. I have relied on personal experience and the bible to offer wisdom for decision making, priorities and peace for daily living. No matter how large your family or what is on your schedule, Dr. White prescribes daily parenting and coaching to produce a winning team. Dr.Charles E. White is a school administrator, researcher, adjunct professor, license professional counselor and author of Coaching a Winning Team. Dr. Charles E. White has two sons.
Books:
- Get Rich With Options: Four Winning Strategies Straight from the Exchange Floor (Agora Series)
- Global Marketing Management (7th Edition)
- Guanxi (The Art of Relationships): Microsoft, China, and Bill Gates's Plan to Win the Road Ahead
- History: Fiction or Science? (Chronology, No. 1)
- History: Fiction or Science? (Chronology, No. 1)
- History: Fiction or Science? (Chronology, No. 1)
- History: Fiction or Science? (Chronology, No. 1)
- How to Buy: An Insider's Guide to Making Money in the Stock Market
- How to Work a Room: The Ultimate Guide to Savvy Socializing in Person and Online
- Human Rights and Development
Books Index
Books Home
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Options Made Easy: Your Guide to Profitable Trading (2nd Edition)
Trade Your Way to Financial Freedom
