These books any good?

Discussion in 'Options' started by tango29, Mar 11, 2009.

  1. tango29


    Traders Library sent me an email saying for cost of shipping; $26.40 I can get the following 9 books and 1 DVD. Any thoughts on if they are worth it?
    The LEAPS Strategist: 108 Proven Strategies for Increasing Investment & Trading Profits
    By: Thomsett, Michael C

    Simple Steps to Option Trading Success
    By: Graham, Jim; Lentz, Steve

    The 7 "Golden Rules" for Option Trading Success with Price Headley (DVD)
    By: Headley, Price

    4 Powerful Rules to Successful Options Trading
    By: Mcmillan, Larry

    Gaining Option Leverage: Using Market Maker Tactics
    By: Najarian, Jon

    Insider Strategies for Profiting with Options
    By: Ansbacher, Max

    An Introduction to Option Trading Success with James Bittman
    By: Bittman, James

    Avoiding Option Trading Traps: What to Look for and Strategies for Success
    By: Mcmillan, Larry

    The Four Biggest Mistakes in Option Trading, 2nd Edition
    By: Kaeppel, Jay

    Naked Puts: Power Strategies for Consistent Profits
    By: Zerenner, Ernie; Chupka, Michael
  2. I always like to go to before purchasing a book. You can usually look at the table of contents and an excerpt from the book. I sometimes find the reviews very helpful as well.
  3. If you want to build a library, then yes.

    If you are an experienced trader and are interested in different points of view (always a good idea), then yes.

    If you want only the latest material, then no.

    The Rookies Guide to Options
  4. cvds16


    I know a few of these books and looking at the titles of the rest of them this seems a pretty useless bunch.
  5. They are obviously books in inventory that TL cannot sell, so are looking to get new customers with a 'deal.'

  6. RobtF


    A lot of redundancy. Option books tend to cover the same material.
  7. Sometimes the emphasis changes.

    I stress the importance of risk management and trading within a comfort zone.

    I provide much more detail on how to select a specific option to trade, and the reasons behind the choice than other authors.

    My goal is to each readers how to think for themselves. Often authors write just to show how brilliant (or not) they are.

    That's what makes some books special and others ordinary.

    The Rookie's Guide to Optios
  8. rosy2


  9. drcha


    Most options books are a waste of time. There are several posts here that cover which are the best books to read. You would be better off reading one good book than twenty bad ones.

    IMHO, Mark Wolfinger's Rookies Guide to Options is a great book for a beginner. I am now recommending it to all my uninitiated friends who ask how to do this (of course most are too lazy to read it anyway, so good for you for approaching things this way).

    After that, Natenberg and McMillan (his two big books, not the smaller excerpts you are considering) are the gods. Cottle has written a useful book, but maybe save that for the advanced part of your learning. Curtis Faith's Way of the Turtle is a good book to read to get adjust your attitude regarding losses--this is a key component of trading, which is nothing like investing.

    Search on threads in which others have asked about books, and you will see the same titles coming up again and again.

    There are many authors who write about option buying (as opposed to option selling). I would be careful about taking the advice of anyone who emphasizes this as the road to riches. It is a difficult way to make money, and in this atmosphere of falling volatility that we are likely to be facing in the next few months, I would say is going to be almost impossible to be consistently profitable at.

    As a general rule, information that is free (e.g. CBOE Web site, Options Industry Council site, many brokers' sites, and several good blogs) or almost free (recommended books) may be helpful, and that which is expensive is usually a rip-off. There is no reason to pay $5-10K to learn to trade options. There are really no secrets. Everything is in a book somewhere, or a similar source.

    Good luck.
  10. I think Options Guide to rookies myself is probably the one I would recommend. I looked through one and the writing was good + easy to follow and not tiring or droneish etc.., very understandable for novices.

    Some beginner books are too dry and difficult to follow or at times forget that the reader is really a first timer.
    #10     Mar 12, 2009