5 comments about Options Trading 101: From Theory to Application.

1. I got somewhat impatient with the basic and repetitive nature of the first third of this book, but pace and complexity really picked up as things went along. The description of synthetic options was eye-opening, and introduction to spreads near the end was very good. Recommended as beginner to intermediate text.



2. Bill Johnsons Options 101 trading book is an excellent introduction to the how's and why's of option trading. The style of this book is exactly like many college math and science textbooks with examples and problem sets. I personally have benefited from the discourse on the "roll-up," which is a strategy I had not come across previously in other training material.
   
   The book suffers, however, from poor proof-reading of the arithmetic. There are many places where the numbers don't add-up to what the words are saying, and vice-versa. Some may find that scribbling the corrections in the margins improves comprehension but if your arithmetic skills are weak then this book may not be for you. I think Options Trading 101 deserves a 2nd edition to correct the errors.



3. I'm a newbie to options and find this book very understandable. The analogies in the book help one understand the nature of options.
   
   My only criticism is that the book is not indexed. If I want to review a certain concept, sometimes it's difficult to relocate it because there is no index.



4. A very good book. Written in a very easy way. Just can't stop reading it.



5. This book had so many errors and blatant contradictions it was more confusing than the genealogy of Jesus. It will have your head spinning so fast some may mistake you for Linda Blair! The author blitzes the reader with math and details the understanding of which simply is unnecessary in order to trade options and could easily intimidate someone new to trading. The excessive errors found throughout the text are inexcusable, especially for a technical book. When practical applications are finally covered in the final third of the book, we aren't presented with anything really interesting. The Iron Condor strategy is mentioned once earlier but is quickly dismissed in a condescending manner as if someone who could thread through all that math wouldn't easily pick up that relatively simple concept! If you are new to trading and don't want to be more confused after you read this book than before you picked it up, this one should be avoided.

5 comments about Generate Thousands in Cash on your Stocks Before Buying or Selling Them: Third Edition.

1. The strategies in the book are attractive. However, there seems to be a constant underlining theme: "All the setups will work". There should be more material on considering the downside risk also. For example, in the strategy that focuses on stock with price less than 5 dollars, the trade example only focuses on the amount of profit a person can get when the stock increases in price. There is very little discussion how to manage the position when the stock price goes down.
   In summary, use more caution when using the strategies in the book.



2. I had began studying this book aside my trading courses and it has been very helpful filling some gaps, especially on technical analysis.
   The technical analysis part is very well done and worth the price of the book alone.
   This book will teach you also how to get out of trouble when things will not works as planned.
   When followed to the letter, the methods in this book are very reliable and successful.
   You need to be patient of learning very well what it is written and be sure you are really executing the trades with very good attention to detail.
   Probably you will need to study this book as you would do it at school.
   Do not rush in to trade just because it seems very doable, wait until you are sure you are executing precisely what is written on the book and that the stock you are going to trade, has the fundamental and technical requirement to apply the strategies of this book. that is very important.
   The only difficult part is to find the stock that meet the requirement, But once you find the right stock or wait for the right conditions on your preferred stock before placing the trade, it will work as planned.
   Some trades are pretty aggressive, and I advise to do them only when you have developed some experience.
   In any case a great book with great technical and sentiment analysis, some very interesting strategies and a lot of examples of real trades. It will teach you how to pick your stocks, how to find good entry and exit points, especially how to anticipate downturns in the market and your stocks and how to protect your gains.
   again, I suggest of being very carefully on following instructions in detail and picking the stock and the market trend that meet all the requirement described in the book.
   
   Of course, try of getting the third edition of this book because it is the most up to date.
   
   In any case, for those that are not fluent with "options" trading, I suggest you to read some other books or take courses that teach you the options instrument and its implications, in order to understand your obligations and risks in using options. another important thing that you need to get familiar with, and this book does not cover completely is, what i would call: "options behavior" (for not being technical), which sometimes may be quite unsettling to the inexperienced trader and scare him/her out of a trade even when nothing is wrong, but to the inexperienced trader may look like things are not working as they should.
   hard to explain in few words... you need to take your time learning.



3. In my quest to become a profitable trader I have read many books on both stock and option trading. This book is unique in that it combines trading stocks with practical option strategies to reduce risk and increase profits.
   Most books exclusive to stock trading tend to reduce risk using stop loss points.
   In addition to offering insights on how to place stops so you are not a victim of "stops running" and `Front running" traps by market makers (explained in the book); the author shows you how to use options to enhance profits and minimize losses when trading stocks. A chapter entitled "risk control and money management" discusses how to strategically place stops and how to use options as a risk reduction tool applicable to most trades in the book.
   On the other hand most books dedicated to trading options tend to discuss esoteric and theoretical aspects of option trading such as greeks and implied volatility etc . Rather than rehashing what is present in most books, the author focuses on simple option strategies that can be effectively used by the small stock trader to improve results.
   To me this was a breath of fresh air, since almost in every options book each author goes through the same things (greeks, implied volatility etc) in a different way. This book offered me what I was looking for. Strategies that are simple and practical and help me make money.
   There are many firsts in this book. It is the first to offer a practical and simple method to manage long term holdings as represented by convergence/divergence charts. Having heard about the potential explosive profits reaped from short squeezes, this is the first book I have seen offer a stepwise procedure to identify stocks with the potential of a short squeeze . The author also discusses a scan to find stocks reversing from a bottom that he uses to identify low risk trades. He then goes through the process step by step to show you how to narrow down candidates to find profitable trades.
   My favorite Chapter is the one entitled "Tricks of the Trade" where the author discusses how to play different trading strategies based on his practical experience in the market.
   As another reviewer mentions this book deserves multiple readings and constant reference due to the practical and innovative concepts it offers.



4. This probably has to be the most valuable book I've bought to date on share/options trading. Maybe not a lot of new info for the "experienced" options trader, although it may be a reminder even to them of how truly effective certain strategies can be... especially with relatively little risk. But I would say a MUST-HAVE book for anybody else and especially for those considering a start in options trading.
   
   It's a book that gets the point across of ensuring you're getting paid FIRST, when entering a trade, and not just hoping that you make money later.
   
   Here is a book that goes beyond just the theory and ideas repeatedly covered in other books. The tools and methods suggested may not be new, but the concepts are certainly eye-opening, well described, and certainly achievable. It's more a book on how to EARN AN INCOME (more than capital growth) and how to TIME your trade/adjustments-to-trade to achieve this most profitably.
   
   The greatest benefit I gained from this book was that it gave plenty of suggestions and ideas on how to salvage a bad trade, using strategies such as covered-calls, writing puts, and collars (to name the main strategies). He also does a great job describing how to "fine tune" his techniques, by using certain indicators to better time entry and exit points, as well as going through how to deal with the number of possibilities of a position nearing option-expiration dates or if a position was to adversely/unexpectedly move against you before then.
   
   His techniques though are not all about salvaging any "bad" positions still held, but also useful in entering a new trade and maximising profits and reducing risk, through the use of selling options... and insights on how to monitor and profitably ADJUST those positions so as to maximise your returns by the time you exit the trades.
   
   The best thing though about the book is that he uses real examples and goes through how to handle a number of possibilities (negative outcomes as well as positive). One truly begins to understand a trader's thought process and mentality before and after entering a position, by going through his detailed examples.... and it's reassuring that the results claimed can truly be achieved using strategies and means that are readily understandable and available.
   
   The only negative(s) I have about this book, is that Samir doesn't go into the "finer" points about short-selling options and money management and could make somebody feel too overconfident and not appreciate ALL the risks involved. He eludes to them towards the end of the book but these very important points can easily be glossed over by the unwary reader. A lot of the examples he provides are stock/option positions in the tens of thousands... not so risky if you have an even larger starting capital, but potentially very risky if it's smaller and brokerage also begins to have en effect too.
   
   For example one would need to: clarify how much option collateral is necessary to open a particular position, take into account brokerage, take into account "slippage" between ask/bid prices, be prepared for and have a plan to deal with an increase in implied-volatility (something not touched on at all). All these and more, will determine one's starting-off capital and how much risk one is prepared to take per position.... Determining individual risk isn't covered very well in this book, thereby making these strategies and returns, to appear deceitfully "easy".
   
   Finally remember it's a percentage game, and it's very easy while reading his book, to get too carried away with the "tens of thousands" of profits one can make through his strategies... these returns are only possible on large initial positions... the percentage returns though will remain almost constant.
   
   Despite this negative feedback, I still think that the book deserves 5 stars, purely on the excellent information provided. Strategies, their execution, and profit returns, are truly realistic and within the means of most people... provided one has an adequate starting capital and sound concepts of money management



5. I do not usually write reviews but I felt compelled to write one on this book since it proved to be invaluable in the recent down market.
   There is one chapter I found extremely useful for long term holders , namely chapter 14 titled "Do This Every Week and Never Lose Money in The Market". At first I felt that this is too much of a blanket statement, however, after I studied the real examples the author gives I decided to apply it to my long term holdings. This technique requires that you perform a couple of simple calculations each week on every stock. The final value is then plotted as one data point for each stock on a specific chart paper then the weekly data points are connected. To my surprise the negative divergence between the C/D indicator described in the book and price alerted me to the potential collapse of two of the financial stocks I hold. My first inclination was to ignore the warning especially considering the apparent name brand and stability of these companies .After reading the examples again in the chapter and remembering how companies like Enron and others collapsed I decided to get out. Within few weeks those stocks with many other financials literally fell off a cliff. In this sense this one chapter saved me thousands of dollars and the little time and effort I spent plotting data every week was certainly worth it.
   Although the author explains step by step the calculation procedure, as well as normalizing and plotting the data on the chart, I recommend, if he happens to read this, to put out a CD with a program that can automatically plot such data. Doing this will allow investors to back test data and see with their own eyes the utility of this concept and thus will be more likely to use it.
   Another valuable insight is presented in the parameters used to assess market trend. The author combines volatility, short interest and a timing indicator to determine whether the market is likely to go higher or lower. The past few months these indicators pointed to a weak and deteriorating market with rallies likely to be short lived.
   I am in agreement with other reviewers that the unique combinations of technical indicators used and trading concepts in this book are easy to follow especially since they are supported by real stock examples. A word of caution, however in regards to expecting to use this book to trade complex option instruments such as butterflies, condors etc.. The author says in the introduction on page xvii that the book is not intended as a comprehensive options trading book detailing the many complex option strategies. His goal as he states it is "to use simple but effective options strategies in combination with stocks to enhance profits and control losses".
   I strongly recommend this book to anyone looking to learn effective and practical money making and income generating tools.

4 comments about The Rookie's Guide to Options: The Beginner's Handbook of Trading Equity Options.

1. Options are a complicated investment instrument, but if properly understood and implemented, they are far less risky than owning stock or mutual funds. And as a bonus, they are most often more profitable. Trading options, one can choose to be a risky gambler (not recommended) or a conservative income generator.
   
   The trick is understanding options and understanding risk management. If you trade options WITHOUT understanding them, and WITHOUT any risk management implementation, then by default you are a risky gambler. You will be out of money before you know what hit you.
   
   The option world has its own lingo. And there are myriad strategies to sift through before determining which one(s) suit your risk/reward desires. Placing the actual trade orders with your broker requires a thorough understanding and fluency of the lingo, as well as a confident understanding of the strategy you've chosen.
   
   The good news is that this book will actually TEACH you what you need to know to be a conservative income generator with options. I can assure you it is the ONLY book that TEACHES this. I own all the major books on options that have been released in the last five years and this one is by far the best and most practical. And long overdue.
   
   To me, in order for an author to teach options trading, he or she must provide the real world philosophy behind a strategy, real world examples, real world gotchas, real world "how", and most importantly, real world "why". Of all the books I own, this one provides the total package. The others do a good job of perhaps the philosophy and the how, but totally lack the rest. In short, no book until this one teaches the complete knowledge one requires to be successful at option trading for income.
   
   I am a rookie in that I had not actually traded options until studying this book. I am NOT a rookie when it comes to attempting to learn how to trade options. The other books did not leave me confident in my abilities to consistently earn income with options. Thus I didn't make any trades. This book gave me the confidence to start trading AND EARNING INCOME. That point alone truly sums up the value of this book compared to all other books on the shelves. The other books are simply lacking in regard to earning income with options. They are good resources for information but not for implementation.
   
   The author's approach is conservative. You will learn how to manage risk and see that options ARE a good, safe investment instrument if used with conservative strategies and prudent risk management techniques. You'll also learn, perhaps by constructing a spreadsheet on your own (strongly encouraged by me), just how much potential income you can earn. You'll be pleasantly surprised.
   
   However, a strong warning here: You MUST understand and comprehend what you are reading. You can't skim this book and expect to do well. In fact, you'll fail if you skim ANY book on options. Most likely, you'll fail big time after a lucky string because you THOUGHT you understood. If you can't commit to learning, and I mean intensely learning and understanding this book, then please steer clear of options. There are no free rides. You must invest brain power to do well. Recognize that most people do not WANT to invest the brain power required. It's hard. It's intense. It's confounding. It's WORTH THE EFFORT. Eventually it clicks. Decide if you do want to commit, and if so, buy this book. It's the only one you will need to conservatively earn a steady income trading options. If you do invest the brain power, you will be proud of yourself and you'll do well financially with your new knowledge.
   
   I want to add that the author is an experienced floor trader, and a gracious man who has replied to all questions I've asked of him via email. If you are inclined to purchase $2000+ in software and another $2000-5000+ in so called "training" or "education", please save your money and seed your options trading account with it instead. But before making ANY trades, nail down what this book teaches. It is all you need.
   
   FYI, my own trading focuses solely on Credit Spreads (which have their own chapter in the book) and utilizing the author's philosophy on risk management. But I had to understand the ENTIRE book prior to making that decision. You would be wise to do the same before deciding your own direction.



2. Before reading Create Your Own Hedge Fund (one of Marks other titles)I considered options to be far too risky and exotic and solely for the professional trader. However after reading the book options were no-longer anything to fear and I was completely sold on the idea of using options to both reduce risk and increase profits.
   
   The Rookies Guide to Options takes the ideas that were previously introduced and takes them to the next level. Concepts are introduced and explained in a way that makes them easy to understand and completely transparent. You're never left wondering - but what would happen if?
   
   It's a master class in options from a truly brilliant teacher.
   
   I can't recommend this book enough



3. Mark has written a terrific book that all options traders should read. He focuses on several popular strategies that you can find in many books, but the difference is that Mark gives you practical advice on how to trade, and even more importantly, how to stay out of trouble when you do trade. Mark's advice is consistently conservative. He is not so focused on milking every trade for every last dollar. It's more important to keep trades gone wrong from losing big. Over and over, you will find this important message coming through.
   
   Mark writes in a style that is friendly, easy to read, but deceptively informative. You don't feel like you're being overwhelmed with theory, but when you look back, you find that you've actually picked up more than you thought. He demonstrates the surprising equivalence, for example, of covered call writing, which many people are comfortable doing, and selling a naked put, which sounds riskier but is in fact identical.
   
   This book is full of really useful and practical information, and I believe anyone actively trading options would benefit from studying this book thoroughly. It's not just rookies who will gain from Mark's shared experiences. BTW, Mark maintains a web site and blog where he continues to share his knowledge. He is also most generous with his time, answering numerous questions from his readers.



4. Mark participates in an online options forum. I praised his book there and he asked if I would be willing to review it here. I'm not sure I can add much to what has already been written here. Donald West's review is especially detailed.
   This book actually holds your hand through profitable methods of trading. You still have to understand options to be successful, but this book is more practical than most. Most importantly, the emphasis is on decreasing risk. Options can be used like lottery tickets or can be used to make investing much safer than buying stocks, as the average investor does. Mr. Wolfinger is not a gambler, and he advises you not to gamble either.
   Is this the only options book you need? Perhaps. I can't be sure, since I already understood options well before I read it. If you are serious about taking control of your investments, then options can give you real advantages. But don't think that you'll skim over any book and then sit on a tropical beach the rest of your life making a few trades. Options are complicated and will leave you baffled at first. If you make the effort then they can be very rewarding. The good news is that this book is clearly written and practical. It really is one of the 5 best books I've read about options.

5 comments about The Market Maker's Edge.

1. I have read this book twice so far, it helped my results more than any other book. This book covers all of Elder's 3 Ms (Mind, Money, and Method) and more with concrete and actionable details. It discussed almost every essential aspect of trading in simple, clear, concise manner. I consider this book the very best in its category (I would rank it higher than Elder's "Trading for a Living" and "Coming into my Trading Room".) My favorite sections are "5-step to position sizing" and "Entry and Exit".
   
   This book is a must read to new traders, and it's a treasure worth many times of its cost.



2. As a professional trader and someone who has learned from the school of hard knocks as well as someone who has been trained through On-line Trading Academy (www.tradingacademy.com), I can not speak well enough about how this book broke down trading to it's core essentials. The key in trading is risk management, controlling your emotions and understanding how the market functions (i.e, price action, supply & demand, trends, support & resistance, and all the other basic principles). This book is extremely well written and should be included in every trader's library. I highly recommend it as it will give you great return on your investment.
   
   Best wishes and may all your trades be "green."



3. This was the 30th book on the markets and trading that I read. I'll admit I quit trading several times. But, I find this book is way better than the books I read years ago because it has specific ideas on how to trade. I loved the section on gaps and the great ideas like what he calls up-hooks and reverse hooks. I believe this book kind of screwed my head on straight for trading. But, I'm still in a period where I wanted to read for several months before I start actively trading again.
   
   I should note however, that I did a weirdly good trade right after reading the book. I believe this was the first time I made an amazing trade. I shorted a stock close to $29 and exited two days later when the stock was around $24. (Actually, I had bought a put option for $0.80 and sold it for $2.15.)



4. This is by far the best book on trading I have in my collection. Lukeman covers almost everything one woudl need to know about trading. Well written and each chapter has very good information. Enjoy!



5. I bought this book for my husband who wanted to learn the art of day-trading. He'd been studying the market for years, but he lacked the insiders' tips that he felt could help him succeed. I was worried that this book might be too basic for him, since he's read several others. It was not.
   
   One of the things he really liked about it was the exercises the book provides. You can practice some of the techniques in retrospect. He found that very helpful.
   
   He now feels ready for day trading. Now if we only had any money...

5 comments about The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities.

1. A lot of people seem to love or hate this book, and I am without question in the love this book category. I have been in the market for many years, and I can say without hesitation that this book is the most advanced and thorough study of trading psychology and tactics ever written. If there's a better one out there, I've never seen it (and I've read hundreds of them).
   
   This is not a beginners book. This is a book for people who have at least a couple of years experience trading and investing actively in the market. I don't mean someone who has a few mutual funds or a stock or two they just hold; I mean someone who follows the market closely day in and day out and has felt the fear, panic, and greed that comes from buying and selling in real time on a regular basis. If you're one of those people then this book is for you. If not, then you should look into something a little less advanced and come back to it in the future.
   
   It was clear to me even after a couple of chapters that the author really knew what he was talking about and had advanced experience. I think many people have been frustrated by this book because they were either too inexperienced to understand it fully or because they were confused by the author's deeply intuitive writing style. Myers-Briggs intuitive types (N's) will feel instantly at home with this, but sensory types (S's) will have a hard time with it because he writes about the deeper meaning behind patterns and movements rather than the obvious visual aspects that are the focus of most books on trading. If you are someone who thinks deeply and looks for the deeper meaning of things then you'll probably like the style of this book. If you are not, then it might not be for you. I am an intuitive N, and I recommend it to others like me without hesitation. It's the equivalent of a capstone course in a master's degree program in trading.



2. The Master Swing Trader is not for beginners, and is a difficult read from cover to cover. But I constantly refer to mine, and I have it highlighted throughout with the margins all marked up. It is very technical but also very thorough. More than any other book this one is responsible for my quest for perfection in my trading systems.
   
   David Colletti
   Founder
   StockTradersHQ.com



3. I have read this book close to three times. Its pages are now worn from use and travel. It is the single book to which I attribute the majority of my market knowledge and trading success. I have since used my trading record to become an investment adviser utilizing only the techniques found here. In truth, I have also created my own money management system as a framework for capitalizing on Farley's directional insights.
   
   This book, when I first read it, was not very appealing. I wanted something that could predict the market, not something that would tell me to wait and wait and wait until conditions were right. I didn't want to have to plan for opportunity and then strike if- and only if- price action developed according to my plan. I didn't want to do any of this until trading losses inspired me to enjoy making money over being excited about making a trade.
   
   Since then I have returned to the book and read most parts twice over. Farley's patterns can be applied to any market environment, because they don't have too much overlap (that is, there's always a set of patterns available for any possible market environment). Therefore, first identify the general market conditions (1st section of the book dedicated to this), then identify which of his '7 Bells' fits that market environment (2nd part of book dedicated to these), and then perform the trade if and only if conditions are favorable (3rd part of book..). Take profits and losses readily. The markets have noise. Perfectly good setups will go up in smoke sometimes. Know your 'edge' and risk only the right amount of capital to take advantage of it (I did have to develop a system myself for this part as Farley does not cover it).
   
   So, that is my review. The Master Swing Trader is a seminal work on swing trading that should not be taken lightly and most definitely not derided as "too complex". Yes, if it's hard, come back later with more trading experience. I consider this book to be the Be-All-End-All of trading books, and it reminds me of my senior-level Electromagnetic Engineering courses in college. Looking at that book in the first days of my study would have frightened me (just glance at a 'Smith Chart' in Google Images if you don't believe me). But after time, I realize that the concepts in that book were not too complicated and were in reality very practical and extremely useful. So, too, with Farley's masterpiece.
   
   Ryan Sanden
   Investment Analyst,
   Northwestern Mutual Financial Network



4. This is a great book and I'm buying it for the second time as the other is packed away in another country somewhere. Farley is awesome. If you don't like the book, you simply don't get it. If you're lame enough to complain about it on here you've got an ego problem, or it was just over your head. If you're serious about trading its a must read. Thanks Alan. I hope someday to meet you in person and thank you personally. Happy Trading!



5. The book is largely about pattern recognition with the additional help of volume and some indicators. Pattern recognition is largely judgmental, so you need to be very comfortable with a judgmental approach. There are never any clear sell/buy signals coming out of this book. The book can be good both for the beginner that is very serious about spending time learning about trading. But definitely also for the intermediate trader. This book is not for you if you want a more mechanical trading system or get really new trading ideas.

5 comments about Trend Trading for a Living: Learn the Skills and Gain the Confidence to Maximize Your Profits.

1. Psychology, money management and an edge with a positive expectancy is all you need for trading success. The trading strategies in Dr. Carr's book give you that edge and are also easily adapted to end of day trading and longer trends. The Dr.'s passion for trading and teaching his readers to trade is obvious throughout the book. I've been trading trends for a very long time and I now have a book that I can recommend to people who want to know how to succeed using this method.



2. A great book with real insight. I particularly like the fact that he actually provides about 10 scan setups to help locate stocks which fit various bull and bear configurations he describes, then he explains how to trade them. Very useful, its at my desk everyday.



3. The trend trading is match with my style. I have read a lot of books about this such as, Michael W, Dr. Elder's book and more.. that are great books. For "Trend trading for a living", They are a step by step cleary information which is easy to follow and give me more detail to complete my trading system.



4. As a user of Stockcharts.com, I found the book very helpful in setting up screens for stock trades.
   I highly recommend to anyone using Stockcharts.com.



5. I really like this book. For some time I've been an active trader, holding my own. I have almost every serious trading book around. This book is unusual in two respects.
   
   First, and very important, it sets forth very specific concrete approaches to selecting stocks and timing entries and exits. Dr. Carr does not stop with generalities. He sets forth a number of specific setups with clear and complete instructions on how to use them, but he also gives the general principles underlying them. So, you know why what you're doing makes sense. Even better, the methods embody the KISS principle, avoiding the unnecessary and unproductive complexities found in many approaches.
   
   Second, this book is surprisingly complete considering its moderate length. It productively covers and summarizes the psychological and discipline factors necessary for successful trading. It clearly describes in detail techniques to use in bull and bear markets, with separate discussion of both stocks and options. Dr. Carr gives specific online sources of free information. In short, everything you need to use his method is in the book except for the computer and internet connection.
   
   My only criticism relates to the computer and internet requirement. Dr. Carr talks at some length about the type of computer and connection you should use. I think this is overkill since almost everyone who would read the book already has an adequate computer and internet setup. But, the information doesn't hurt, although it will probably be dated quickly.
   
   Finally, Dr. Carr's unusual background might account for the excellent writing style. His degrees are from Oxford and Princeton, in philosophy and theology! He is a professor of religious studies. A much more interesting background than had by most investment writers. Dr. Alexander Elder, M.D., author of Trading for a Living, appears to have significantly affected Dr. Carr's approach to, and philosophy of, trading. On balance, this might not be the "last book" on trading stocks, but it definitely belongs - well read - on your shelf.

5 comments about The ART of Trading: Combining the Science of Technical Analysis with the Art of Reality-Based Trading (Wiley Trading).

1. I have been trading for several years now. This book has offered me a different insight to trading and I just love this book!



2. The ART of Trading is one of the best trading books out there. Bennett McDowell lays out the concepts in a clear no nonsense fashion. Anyone interested in trading will benefit from this book.



3. I just received the book and have spent a couple of hours going through it. Quite disappointing since I expected it to discuss "principles", but found it to be primarily a manual for his software called "ART". The title should have conveyed the idea clearly, but conveyed the impression of a general book. Hardly 15% of the book talks about general trading related ideas. Buy the book if you are thinking of investing in ART software. I wouldn't recommend it otherwise.



4. I read several books on investing and softwares. The ART of Trading by Bannett McDowell is very unique and simple. This Wiley Trading book is used by several professionals in various countries including US. Bennett has put years and years of experience into the book. On top of it, the book comes with free trial of expensive software. This book and software is not "Get Rich Quick" scheme. If you are willing to work, this book points you towards the right direction. You only need right direction in the trading/ivesting amazon. Thanks Bannett sharing the experinece through the book and software.



5. 
   Most advice from Trading books focus on indicators and other stochastic measurements to help you trade better... but this book is focused on discerning market truth by analyzing the price and volume relationships. With the development of this ability the trader will be able to make rational trades and control risk and reward.

5 comments about Get Rich With Options: Four Winning Strategies Straight from the Exchange Floor (Agora Series).

1. If you know nothing about options, this is not a terrible place to start. But if you already know what a naked put is, you won't learn much here. The "Get Rich" title should have warned me away, but the jacket was convincing.



2. As others have noted, Mr. Lowell provides a basic explanation of options and of five of his pet option strategies. It's fine as far as it goes, but he fails to deliver on the book's most important promise, right there in the title: Get "Rich" with Options. Honestly, after the title, there is never a single mention in this book, not one, that anyone trading options in the way directed by the author will become "rich." The title is clearly a misrepresentation.
   
   The five option strategies explained by Mr. Lowell are said to have "allowed [him] to be successful over the years" and that they can "potentially increas[e] your wealth" and they have "given [the author] the most success in the markets" and even that they have "greatly rewarded" him and "allowed [him] the opportunity to succeed."
   
   Okay, so what? I purchased the book to see how to get "rich" with options. Once past the title, the author never says that he, himself, is rich, let alone that the five option strategies can make us rich.
   
   Moreover, all of the option strategies explained by Mr. Lowell are hedging and sale strategies with very little discussion of how, under the best of circumstances, these strategies will do more than provide some additional income. But make anyone "rich"? I highly doubt that selling strategies will cut it to make us "rich."
   
   Once again, to sell books, an author has misrepresented the substance of what he presents. No affirmative representations about his own wealth. No brokerage account statements revealing the wealth generating properties of these strategies. No third party (like a CPA) certification that he has made millions or, at least, hundreds of thousands, of dollars, which are now in his bank account, by using these trading strategies. Truth be told, there is no coherent explanation about using these strategies individually or in concert to make yourself rich.
   
   There is an explanation of the strategy, for sure. But, honestly, experienced option traders already understand this. There is, sometimes, a very rudimentary explanation of a vague counter-tactic when a trade goes bad, but nothing specific enough for his defniend audience ("the average, everyday investor" who, prior to reading the book, had no idea these option strategies existed, see page x) to actually use as protection from a busted trade.
   
   For example, many covered option sellers understand that your covered trades will, over time, tend to sweep out surging shares from your account (as your shares on very successful buy-writes will be assigned) and cause your "dogs" to linger. Sure, you kept the premium from the sale, but several of these inevitable down drafts, usually caused by a whole-market downturn, may have wiped out much of your gains from covered option sales over the past years. Yet, there is no serious discussion of this risk and how to avoid it on the way to using this technique to, presumably, get rich.
   
   Disappointing in the extreme. As I've said in other reviews, I'm sick of these authors touting "get rich," but not providing proof positive to us, the readers who shelled out the money for the book, that the technique worked, at least enough to get the author rich, if not anyone else.



3. This is a down to earth guide on how to make money with four option strategies that will work for most people most of the time. For a novice a single trade will more than pay for the cost of the book.



4. Geared towards new option traders, and those that want to move beyond buying out of the money short term options. The author presents his favorite trading strategies (vertical credit spreads, naked puts, covered calls, deep in the money call options, and ratio spreads-- bread and butter stuff, but unfortunately while informative, new option traders can't use this book alone to trade successfully. I would have preferred that the author give his when, what, where, why, and how to guide; along with his trading results using these well known conservative strategies.



5. He covers the subject and explains the trading strategies, which are great strategies, but I was not satisfied with its completeness. He focuses on how HE trades these strategies and doesn't always provide the explanation of everything that goes into it. An example would be saying if you're going to buy a Long Call, buy as deep ITM as you can, and considers holding it until expiration so you get a good price for your stock (this is solid advice for its purpose). But he doesn't cover if you DON'T want to eventually own the stock and if you DON'T want to hold until expiration. There are also other such instances.
   
   He offers a topic about how options trading floors work at the exchange, which will not make you a better trader, and he tells you this at the beginning of the section. He also includes too many graphics of his personal trade confirmations; it's good to know the strategies work, but one or two are enough.
   
   This is a good book, and best recommended to a novice to options that DOES already know how options work. However, realize that his explanations are not always complete and he does not cover every angle to the strategy. He covers how he trades his options. You will have to analyze what you want to accomplish and thus you may need to trade differently than what he offers (or at least you should).

5 comments about The Encyclopedia of Trading Strategies.

1. The Encyclopedia of Trading Strategies is well written and is a good book if you are looking for something very technical and mechanical. I was disappointed with the book. I thought it would offer chart set ups or set ups per technical indicators. Instead, it offered codes, etc for setting up mechanical systems.



2. I liked this book.
   it presented many ideas and a right pragmatic approach to test a trading system.
   I found tough the statistics part, but it's not an author's fault: it's statistics.
   in the final part I found many repetition (many pages might be saved just writing: " hey, for this system we apply the same said at pag. xyz..").
   
   Only two things remained a mistery to me (but I'm not much intellingent..): why didn't the author make any test for longer horizons? in the end, the strategies never approached a longer term trading strategy: usually the trades last few days.
   maybe it's not worth? the author doesn't tell us
   
   ah, and it's not an encyclopedia: why did he choose this name?
   this is the second mistery...



3. The book should be compulsory reading for any aspiring systems trader.
   The testing methodology is thorough, and they cover many of the more common approaches to systems trading as well as a few that many will find a tad too esoteric. My only complaint is that the book could present us with more detailed stats on the tested systems. In e.g Way of the turtle (a much less comprehensive text) the author does an excellent job of presenting stats on any tested system, including a number of important measures you will not find in the Encyclopedia. Overall, I still believe it is a must read. For beginners I also recommend the following books (for starters):
   
   Way of the Turtle (Faith)
   Evidence Based Technical Analysis
   Design, testing and optimization of trading systems (Pardo)
   
   Also, check out the Trading Blox forum at tradingblox.com for
   tons of useful info on systems trading.
   
   * s p e c t r e *



4. This book provides an overview on the type of strategies available and shows the results done on the different strategies. For system developers it is useful to know that most strategies - pure trending, oscillators etc do not perform well at all!
   What is lacking is a more thorough analysis of the different methods. Overall a useful book which highlight the pitfalls which system developers will fall into.



5. Anyone planing on or currently trading using technical analysis should read this book. The lessens inside can help prevent loss of savings.
   
   This book takes a careful look at various types of technical indicators and trading strategies that use technical analysis, the types of methods commonly found in charting software and technical analysis books. For me the bottom line is that making a consistent income from trading, using technical analysis, is difficult. (Losing money is not so difficult).
   
   The software referenced in the book and available for a relatively small price, is in my opinion very powerful, but difficult to master (C++ source code that must be compiled, debugged for your compiler, and modified to create useful systems).

5 comments about Trading Commodities and Financial Future: A Step by Step Guide to Mastering the Markets (3rd Edition).

1. George Kleinman does a fantastic job of explaining the Commodities and Futures markets. Further, he does a great job helping a new trader get some 'legs' to stand on. He provides valuable insight into developing a trading methodology, and helps the beginning trader 'find his way' in the plethora of trading solutions out there. He demystifies how trading is done, and provides solid "Western" and "Conventional" trading practices so that the beginning trader has an excellent foundation to expand their knowledge. I would say that George's suggestions and lessons in the book are the basis for my knowledge (book smarts at this point) and provided the grounding necessary for expanding my knowledge base into Fibonnaci, WD Gann, Candlesticks, and so much more. Basically, it is my opinion that every beginning trader (not stocks but Commodities and Futures) should read this book. He does an excellent job explaining how trades, stops, support, resistance, MACD, Stochastics, Trend Lines, many other various methodologies can aid a trader into making good trades. I highly recommend this book.



2. this book is ideal for beginners and pro's that need some directions on how to make things the right way, i must say i enjoyed the small stories in between , overall whoever is looking to begin trading futures it is a must



3. If trading is about markets, psychology, technique, then this book is an excellent introduction to these areas. Beeing balanced and only 250 pages, the book does not cover the areas in much depth. This might be a positive or a negative according to what one wants. 5 stars because the book is easy to read and gives an excellent big picture view on trading.



4. I've found that most financial books are either overly simplistic overviews that are rarely more informative than a pamphlet or are filled with arcane academic information that is not put into any useful/practical context. This book does a fantastic job bridging the gap. It begins with an excellent overview on how the markets work, then moves into practical strategies, with an emphasis on which indicators are likely to be most helpful. It's easy to read, in part due to the author's personal touch. Definitely not dry.
   To call this book "largely pedestrian" is pompous and petty. If you're new to futures or at an intermediate trading level, do yourself a favor and buy this book!



5. This an insightful book about the authors experience with commodity trades. For those who are clueless and watch Mad Money, I wouldn't recommend this book because it doesn't visualization. It's More of a general overview of the basics, it brings a good feeling for individual investors who are stumbling to make a decent decision.
   
   Instead, go with Dona Kline, Kenneth Morris "WSJ: Guide to Understanding Money and Investing" or stick to the Dearborn PassTrack books. Also try Kaplan for continuous education, but don't rely on it too much.
   
   For those who are seriously taking the securities exams, always prepare yourself for 110%, nothing less.
   
   GO FOR IT !