the only thing you need to tame is your own emotions.
Last edited:
Options trading BOOKS
- Thread starter andy_p
- Start date
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.
He prob knows more than both najarians put together
I nearly burst out laughing when I saw Kiyosaki's name mentioned.
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.
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:
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?
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?
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
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,
I'm always curious about how trading book readers and seminar or website class takers actually perform in the real world life market,