Options trading BOOKS

Discussion in 'Options' started by andy_p, Dec 30, 2017.

  1. zdreg

    zdreg

    the only thing you need to tame is your own emotions.
     
    Last edited: Dec 31, 2017
    #11     Dec 31, 2017
  2. ironchef

    ironchef

    OP, be very careful about the "relative safe" part. It is relatively safe if it is covered (or spread or hedge with small size), but you won't make a killing doing it.

    Very risky if it is OTM, naked and leveraged. You can read up on Karen, find out how risky it is selling OTM naked and leveraged options.
     
    #12     Dec 31, 2017
  3. He prob knows more than both najarians put together
     
    #13     Dec 31, 2017
  4. I nearly burst out laughing when I saw Kiyosaki's name mentioned.
     
    #14     Jan 1, 2018

  5. The best book I can recommend is Understanding Options by Michael Sincere.

    I read it 2 years ago. It is well written, gives good examples and quite humorous.

    The author is a Business Professor in Florida, and he understands his audience.

    It's an excellent introduction to Options.

    And it's only $11.48 on Amazon.

    I would start here first.

    [​IMG]

    ttps://www.amazon.com/Understanding-Options-2E-Michael-Sincere/dp/0071817840/ref=sr_1_sc_2?ie=UTF8&qid=1514885303&sr=8-2-spell&keywords=michqel+sincere
     
    Last edited: Jan 2, 2018
    #15     Jan 2, 2018
  6. Andy_p, you're the guy asking let's say "naive" questions (Pekelo had what is probably a more appropriate denomination).

    Can you give us an estimate on the amount of capital you have at your disposal for this options trading business? Do you at least have enough to open an Interactive Brokers account?
     
    #16     Jan 2, 2018
  7. there is fantastic FREE options training at 21stcenturyinvestor.com- it takes months not 2 minutes,like forex-as it's a complicated subject-but selling options naked is for idiots who eventually get blown up -check out Taleb and Sornette. Some people sell puts to buy stock at a discount-so you are securing the trade with cash and you get the stock cheaper,but take the very real risk that it has dropped and will drop a lot more. The current market volatility is not suitable for ANY selling in my opinion as when the next big event happens,none of the smug b*stards who have ridden this taxpayer fuelled gravy train have any clue what to do. They have never seen VIX at even 10% -how do you think they'd cope with it at 80? I've known puts trading at 2, go to 300 in a week. I look forward to the next crash personally,and a return to VIX at 15. A good trader manages risk, a crap trader thinks he is a genius in a bull**** market
     
    #17     Jan 6, 2018
  8. Two Sheds

    Two Sheds

    One I just got (recommended to me) is 'Options Trading - The Hidden Reality' by Charles Cottle - skimmed it a little, it is going to be a good one. It goes a bit more down the rabbit hole than most other tomes.
    Check the AMZN listings and reviews on it for more info.
     
    #18     Jan 31, 2018
  9. Report back here after you have thoroughly read through that book twice,
    and have applied that knowledge and wisdom in your trading.

    Hopefully, you will have nice profits to show for then, o_O
    I'm always curious about how trading book readers and seminar or website class takers actually perform in the real world life market,
     
    #19     Jan 31, 2018
  10. ironchef

    ironchef

    A light read indeed.

    You must have a PhD in statistics and a PhD mathematics.
     
    #20     Feb 1, 2018