A book recommendation

MarkBrown said:
beginners should not be trading options at all. it's fools game for those retail (paper) traders.

yes you are called paper by professionals (bring on the paper)
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As I stated, I am an advanced beginner. I have sold probably 100 CC's and cash secured puts.
A lot of people who are not professional investors succeed selling cash secured puts and CC's. Options are not simple, but they are no where near as complex as say, Electromagnetic Field Theory, or Digital Signal Processing.
 
shMark said:
Options are not simple, but they are no where near as complex as say, Electromagnetic Field Theory, or Digital Signal Processing.
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I wasn't going to respond to this thread but this statement caught my attention.

Those you mentioned are easy compare to trying to make a living trading options.
 
ironchef said:
I wasn't going to respond to this thread but this statement caught my attention.

Those you mentioned are easy compare to trying to make a living trading options.
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I agree with you on that, but I don't think the concepts are as complicated. Making a living trading any financial instrument is super hard.
 
shMark said:
I know the people here are very advanced, so this will not apply to many of you, but
I wanted to recommend a book I bought about stock options. It is called Options Trading Simplified For Beginners: Master The Essential Options Skills For Generational Wealth Even With A Small Account. The author in my view is a genius in that he can explain complicated topics in a way anyone can understand. I have read other books on options, including MacMillan’s book, and I got so confused. I understood everything I read in this book, and he covered a lot. Moneyness, calculating breakeven, the greeks, rolling, closing out positions, how to calculate how much your underlying will move. At the end he teaches you the four vertical spreads, The iron condor, the iron butterfly, the covered strangle, and the straddle. Amazingly, they were all easy to understand. What is amazing is that I did not see a single non five star review on Amazon.

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Wanted to share some more book ideas! Great info for both beginners and experts:



Great for beginners:

  1. "The Intelligent Investor" by Benjamin Graham

  2. "One Up On Wall Street" by Peter Lynch

  3. "The Little Book of Common Sense Investing" by John C. Bogle

  4. "A Random Walk Down Wall Street" by Burton G. Malkiel

  5. "The Book on Rental Property Investing" by Brandon Turner
Great for more experienced

  1. "Trading in the Zone: Master the Market with Confidence, Discipline, and a Winning Attitude" by Mark Douglas

  2. "Market Wizards" by Jack D. Schwager

  3. "Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T. Munger"

  4. "Trading Risk: Enhanced Profitability through Risk Control" by Kenneth L. Grant -

  5. "Reminiscences of a Stock Operator" by Edwin Lefèvre

    – Nurp
 
Money Trust said:
"Generational wealth....."
The latest buzzword in guru land, which makes me skeptical.
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Good Money Trust,

Generational wealth is phrase invented by the Salesman Selling Industry.

The phrase is used to sell product and services to potential customers so they can keep trying to gain wealth fast through their product and services.

Trying to build generational wealth for our grandkids, and great grandkids, and great grandkids is like swimming through mud and very unnecessary to my mental and happiness in life.
 
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