#115 in Business & money books
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Reddit mentions of Options as a Strategic Investment: Fifth Edition
Sentiment score: 11
Reddit mentions: 21
We found 21 Reddit mentions of Options as a Strategic Investment: Fifth Edition. Here are the top ones.
Buying options
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- Prentice Hall Press
- It ensures you get the best usage for a longer period
- It ensures you get the best usage for a longer period
Features:
Specs:
Color | White |
Height | 9.47 Inches |
Length | 7.6 Inches |
Number of items | 1 |
Release date | August 2012 |
Weight | 4.16232750656 Pounds |
Width | 2.35 Inches |
First you buy:
Options Made Simple: A Beginner's Guide to Trading Options for Success
https://smile.amazon.com/gp/product/0730376370/
Options as a Strategic Investment 5th Edition
https://smile.amazon.com/gp/product/0735204659/
Then you join /r/options. Then you paper trade. Then you trade options.
If you're asking here if you're going to profit or not on a trade, do not start trading yet.
EDIT: I also found these options threads to be helpful:
https://www.reddit.com/r/options/comments/5pekf6/interested_in_becoming_an_options_trader/
https://www.reddit.com/r/options/comments/3zwx40/500_to_1000_bucks_initial_deposit_what_next/cypp8td/
Options as a Strategic Investment was recommended to me as a good book to build an Options foundation on. I'm still working through it but so far, I have to agree. It covers the different strategies in detail. Giving you the what, why, and when to use them.
I started with Options as a Strategic Investment
edit: formatting
Hey, you may not have the capital to do serious investing, but don't say you're too young! It's awesome that you are learning about this stuff at a young age, and it will serve you well when you do have the money to invest.
This isn't the easiest book to read (it's over 1,000 pages), but Options as a Strategic Investment by Lawrence McMillan is considered the bible of options trading, and it will give you a deep understanding of all the basics. You'll still need something else to show you how to put it all together when you're ready to begin trading, but reading this book will build a solid foundation.
Hello,
I'd start here..
http://www.cboe.com/ the cboe website offers free education detailing essentially everything about options, their properties, how they're priced, simple--> complex strategies.
A good book I liked was Getting started in options. The cboe website, while incredibly encompassing, is a bit a brief in their lessons(IMO). This guy offers an easy to understand intuition behind taking some of the trades. The book ranges from beginner tactics to intricate spreads/condors and such.
Id say to cap it off and give you a well rounded education, you keep this one handy Options as a strategic investment. I say this because I think the way it's setup is more of a handbook, it skimps on the details and cuts right to the schematics of each trade and how to manage.
The order of resources was deliberate, I've found when the material is too hefty from the getco it's a bit discouraging when you first start out. However, as you progress you crave more, you dive deeper and once you demonstrate some proficiency, you want to have something easy to skim through and reference just in case.
Hope that helps!
www.cboe.com has some great tutorials.
A book I often refer to can be found on Amazon:
https://www.amazon.com/Options-as-Strategic-Investment-Fifth/dp/0735204659/ref=sr_1_1?crid=R4LJ2GU5HQ2Y&keywords=options+as+a+strategic+investment+6th+edition&qid=1573349119&sprefix=options+as+%2Caps%2C163&sr=8-1
Oops! Sorry was listening to some 50 copied wrong link. More beginner resources at :
http://education.optionseducation.org/course/?podcasts=1
https://www.cboe.com/LearnCenter/webcast/
Books:
http://www.amazon.ca/Options-Strategic-Investment-Lawrence-McMillan/dp/0735204659
http://www.amazon.ca/Option-Volatility-Pricing-Strategies-Techniques/dp/0071818774/ref=sr_1_7?s=books&ie=UTF8&qid=1418529768&sr=1-7&keywords=options
If you want a really in-depth advanced book on options, I'd suggest Options As a Strategic Investment. It has everything.
Some finance & investment textbooks:
Here are a few I liked.
On the easy side but very thorough, good for starting:
Options as a strategic investment, Lawrence McMillan
https://www.amazon.com/dp/0735204659/ref=cm_sw_r_em_apa_i_0IfLDbZYQ3Z67
Focusing on market making:
Option market making, Allen Baird
https://www.amazon.com/dp/0471578320/ref=cm_sw_r_em_apa_i_WPfLDbTZ0C15B
Harder but good stuff:
Volatility Trading, Euan Sinclair
https://www.amazon.com/dp/1118347137/ref=cm_sw_r_em_apa_i_zKfLDbQ0KSEPG
[http://www.amazon.com/Options-Strategic-Investment-Lawrence-McMillan/dp/0735204659/]
[http://www.amazon.com/McMillan-Options-Lawrence-G/dp/0471678759/]
[http://www.amazon.com/Profiting-Iron-Condor-Options-Strategies/dp/0134394607/]
[http://www.amazon.com/Option-Strategy-Risk-Return-Ratios/dp/0692028293/]
Those will give you 90% of what you need to know. There are a lot of books out there, the more you read, the more you learn. I have a library of 100+ books like these.
https://www.amazon.com/Options-as-Strategic-Investment-Fifth/dp/0735204659
https://www.amazon.com/Options-as-Strategic-Investment-Fifth/dp/0735204659
I don’t know how I knew. Maybe you have a youthful and optimistic writing voice.
I’m 37, and I actually manage money for a living as an RIA (registered investment advisor). If you’re unsure about a career for yourself, I’d highly recommend it. Someone only 20 years old with your expertise would have no trouble getting into the business and be very successful.
Using Bitcoin or any hard currency as opposed to fiat adds immeasurable value to society. Read “The Bitcoin Standard” by Saifedean Ammous and your perspective will be expanded
https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861 and buy
And get a copy of the reference tome: Options as a Strategic Investment
https://www.amazon.com/Options-as-Strategic-Investment-Fifth/dp/0735204659
And your investment game will be better than most advisors by the time you’re 22. That’s the best advice I can give👊
Oh lmao my b
I’ve heard McMillan on Options is a good read, though I haven’t read it myself.
A good book on psychology and market behavior is Reminiscences of a Stock Operator
Options as a Strategic Investment is personally what I read and it’s very easy to understand and has plenty of examples.
https://www.amazon.com/McMillan-Options-Lawrence-G/dp/0471678759
https://www.amazon.com/Reminiscences-Stock-Operator-Edwin-Lefèvre/dp/0471770884/ref=mp_s_a_1_1?keywords=reminiscence+of+a+stock+operator&qid=1565785781&s=gateway&sprefix=reminiscen&sr=8-1
https://www.amazon.com/Options-as-Strategic-Investment-Fifth/dp/0735204659/ref=pd_aw_sbs_14_1/132-8096628-1903040?_encoding=UTF8&pd_rd_i=0735204659&pd_rd_r=311ef362-2080-434e-899b-ea36ca08058a&pd_rd_w=6v6iP&pd_rd_wg=HtwRb&pf_rd_p=3861f3e6-3054-41ac-9570-6a1994716f7e&pf_rd_r=34KSEETK9NV6305R430Q&psc=1&refRID=34KSEETK9NV6305R430Q
The first edition is from 1988, and the Amazon reviews for the second edition say that there are a lot of errors in the new version. How well does the 1988 edition hold up to current trading strategies? Or is there another newer book that you would recommend?
EDIT: Any thoughts on The Rookie's Guide to Options; 2nd edition: The Beginner's Handbook of Trading Equity Options by Mark D Wolfinger? Or Options as a Strategic Investment by Lawrence G. McMillan?
This book is very good for beginners.
https://www.amazon.com/Options-as-Strategic-Investment-Fifth/dp/0735204659/ref=sr_1_1?ie=UTF8&qid=1527461946&sr=8-1&keywords=options+as+a+strategic+investment+6th+edition#customerReviews
https://www.amazon.com/Options-as-Strategic-Investment-Fifth/dp/0735204659/ref=sr_1_1?ie=UTF8&qid=1502993339&sr=8-1&keywords=options+as+a+strategic+investment
Options as a strategic investment, by Lawrence G. McMillan.
https://www.amazon.com/dp/0735204659/ref=cm_sw_r_cp_apa_i_MWSWDbPJ9H54G
https://www.amazon.com/Options-as-Strategic-Investment-Fifth/dp/0735204659/ref=mp_s_a_1_1?ie=UTF8&qid=1540593340&sr=8-1&pi=AC_SX236_SY340_FMwebp_QL65&keywords=options+as+a+strategic+investment&dpPl=1&dpID=51JdQRw3ZDL&ref=plSrch
It will teach you not only the naked shit these heathens do but also more advanced option plays all the way up to structured products
So the two books I read that helped me TREMENDOUSLY understand options are:
https://www.amazon.com/Options-Trading-QuickStart-Simplified-Beginners/dp/B01EZ50QO0/ref=sr_1_19?keywords=options+trading&qid=1568413077&s=gateway&sr=8-19
https://www.amazon.com/Options-as-Strategic-Investment-Fifth/dp/0735204659/ref=sr_1_3?keywords=options+trading&qid=1568413077&s=gateway&sr=8-3
These two books alone should get you comfortable enough to trade profitably or at least to simulate it and make sure first.
McMillans is a HUGE actual textbook used in University. It's not PERFECT but very close. Treat it as your options Bible.
The starter book will get you familiar with all basic concepts, jargon and associated entry level knowledge.
Options trading is the opposite of day trading although they can be day traded successfully in my experience. Options is better performed, however, as a Swing Trade assuming your Technical Analysis plays out.
If you aren't very familiar with Technical Analysis then I'd suggest watching Mitch Ray's instructional videos on youtube for a basic grasp.
Also here is the BIBLE of swing trading Technical Analysis, it is another textbook but well worth the time and cash investment. Bulkowski is basically god.
https://www.amazon.com/Encyclopedia-Chart-Patterns-Thomas-Bulkowski/dp/0471668265/ref=sr_1_1?keywords=bulkowski&qid=1568413255&s=audible&sr=8-1
Before making ANY trade I HIGHLY recommend reading Trading In The Zone by Mark Douglas :
https://www.amazon.com/Trading-Zone-Confidence-Discipline-Attitude/dp/0735201447/ref=sr_1_1?keywords=trading+in+the+zone&qid=1568413295&s=gateway&sr=8-1
He also has it in free audio book on Youtube if you can do audio books. I listened at the gym which worked but really just needed to read.
There's many more resources, books, etc. but this should get your rabbit hole started.
For basic market info as a newbie i recommend Investopedia.com
I believe they also have a free simulator. Not sure if options are available on there.