(Part 2) Best products from r/wallstreetbets

Google Finance is a good place to look up technicals.

I recommend reading this book, which not only teaches some basic technicals but also teaches an example trading approach based on them. There are some other books that can detail every single indicator, but Carr's book, if you can get past his optimism, puts indicators in context, helping you to remember which of them to use and how.

I've found RSI, CCI, OBV, and the 20/50 SMAs to be the most useful indicators. The Google Finance charts will show you all of those except for OBV. Google's default parameters for those indicators are perfect, too, so there's no real need to adjust them.

There's also other stuff, like chart patterns and candlestick patterns. For the most part, I've found only the cup-and-handle, head-and-shoulder, and coils chart patterns to be useful. Everything else sounds good in theory, but doesn't really happen in practice. Candlestick patterns are vastly unreliable and mostly serve as "good omens" when they line up with your analysis, so I wouldn't worry too much about them.

Oh yeah, and resistance/support levels. Those are so important that I doubt you haven't heard of them. Even fundamentals guys respect R/S.

For a lot of my basic knowledge I browsed investopedia and clicked on anything blue I didn't understand and held legitimate conversations with peers both on and off of reddit.

For example, take this submission about CDOs

Just start reading. If you don't understand something that's highlighted, like "derivatives" or "defaults", click on it and read that page. This can help you understand a lot of the technical terms and see how they're all related to one another.

I don't read many investing books as much as I try to absorb things about economics itself. Understanding how an economy functions is essential to trading. A good youtube channel that talks about economics can be found here. The videos are dense in information, but the input the creator gives is very solid. Not all of what he says should be taken as fact, but really it's just an analysis by a fundamentally sound economist.

Netflix has a few documentaries that are captivating. One is called Betting on Zero

The series "Dirty Money" has some interesting content within as well.

The Big Short is a movie that has valuable content if you watch it while considering what we know in hindsight of the 2008 financial crisis.

The most important part of investing is understanding what stimulates an economy or drives one into a recession.

My father is a successful investment banker and the two books he's always recommended are:

The Intelligent Investor

The Millionaire Next Door

But a citizen looks like a decent watch. An apple watch looks like a kid's toy.

this thing looks really nice to the point that people compliment me on it before realizing it is a smart watch. I paid $250 for it when it was brand new.

I forgot to mention the looks aspect. The apple watch also looks like shit unless you overpay even more. The garmins and fitbits and look good in a sporty and utilitarian way; exactly what their market is looking for.

Interestingly - this was just published: Fitbit, Garmin and other activity band makers improved their shipments by the double digits, while the smartwatch world actually shrank

https://www.amazon.com/Python-Crash-Course-Hands-Project-Based/dp/1593276036

really good book to get into Python, it kind of assumes you know the basic logic, but it's very entry level friendly and im sure you can find it for free in a pdf somewhere. it's a good overall language to know if you are going to be doing any kind of analytical work.

Heres what you do.

• First you're going to need to buy some of these. Since these come in packs of 3 with varying sizes they are perfect.
  
  
• Make sure you work your way up to the biggest one as fast as possible. I mean you need to be doing this 24/7 to make sure that you break all the elasticity in there.
  
  
• Then you need to start doing weekend drives to Colorado or Seattle or w/e you can buy some dirt cheap bud. Buy only the strongest ones that give the best Physical High and Mental High, you want both types. Stick them where no one will find them, don't wanna get caught bringing them across the border.
  
  
• Then you want to go on this application and advertise your services. Plus, you'll have some good dirt cheap weed to start your new smoking habit with.
  
  You're welcome.

I mean...I don't know how quick you want things to happen? This company went from 200m @ IPO to 10bn rev in 6yr, which is the fastest company in history save for GOOGL (5yr). Tied with FB. Beats AMZN (7 I think), BABA, MSFT (all those around 8-9) They grew in revenue as fast as a dude who monetized half the world in ~8 years (our man zuck)

I'll only defend myself with some food for thought. I'll re-hash these points once in awhile, I can't help it.

Profit point has been hit for auto mfg for a couple years, but everything else has been capex and R&D which, in mfg is huge -- (TSLA is the only mfg example of the aforementioned tech platforms...mfg has high capex and tech has R&D. Double whammy of expensive thangs)

They are hyperspending while other auto mfgs are avoiding the elephant by putting half-assed efforts and retaining stale assets. They have to create a tesla-esque-or-better-2025 plant while still showing profit (to please shareholders) on an already razor-thin margin. If they aren't doing the definition of kicking the can down the road ...well, godspeed. Added bonus: they're literally paying a dividend to shareholders instead of investing in EV infrastructure. Why? Because the board & CEO are old as fuck and think short-term politics is a good thing.. "Fuck that, I'm retiring in 5 years, funnel money out of the pensions and get me the fuck outta here."

(Existing PPOE of a car mfg is a technologically stale asset. To re-adjust for the EV revolution -- which is 100% happening -- is ungodly expensive)

As odd as it sounds, seeking a profit on TSLA's balance sheet at this stage is penny-wise, dollar stupid. Much like amazon and most other tech companies, the shit you do in the early stages really fucking pays off later. But much like amzn pre-profit...it was always there, but it was just immediately spent on R&D & infrastructure rather than cash hoarding and dividends (lol)

I have an amazon link for a set I used, pretty happy w them, will edit this comment

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I have these, work good, pretty colors, I like them not bad for 30$. App works good too. only thing ill catch them on is that the "music" function I think just works off a microphone flashing the lights on when it detects a noise thats louder, IE when the bass in a song hits it'll flash, not the worst but def doesn't play with the song perfectly

Yeah man I know what you mean. I looked online and saw the Samsung chg90 which is a 49" curved 144hz freesync but its still at 1080p. Im waiting for a beast curved 1440p/144hz ultrawide before I commit $1000~ towards a monitor. Ive had the same ASUS 21" eyefinity setup for like 5 years now and its still pretty good so im not in a rush. Hopefully around Christmas time or Q1 next year they start turning out 1440p 144hz monitors.

🤷🏼‍♂️ WTF do I know? I got the question in the post wrong.

I am guessing you mean this book? I've never read it, we used a different text in my Derivative Markets class.

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The manual I am studying from doesn't have a ton on Box Spreads, but this is what it says:

Box Spread

>A box spread is a four-option strategy consisting of buying a bull spread and buying a bear spread, where one spread uses calls and the other uses otherwise identical puts.

A box spread is used to lend or borrow money. Regardless of the movement of the underlying asset, the payoff is fixed and known in advance and is equivalent to a zero-coupon bond.

When the bull spread is created using calls and the bear spread is created using puts, the resulting payoff is the payoff of a long risk-free zero-coupon bond. In this case, the investor is lending money.

|Position|S(T)≤K1|K1<S(T)≤K2|S(T)>K2|
|:-|:-|:-|:-|
|Long call (K1)|0|S(T)−K1|S(T)−K1|
|Short call (K2)|0|0|−[S(T)−K2]|
|Short put (K1)|−[K1−S(T)]|0|0|
|Long put (K2)|K2−S(T)|K2−S(T)|0|
|Total Payoff|K2−K1|K2−K1|K2−K1|

Below is the payoff diagram of a box spread.

Diagram

Coach's Remarks:

Notice a box spread consists of both calls and puts. Technically, it doesn't satisfy the definition of a spread. However, because a box spread is a combination of two spreads, it is commonly regarded as a spread.Also, notice the payoff diagram does not start at a flat line of 0 from the far left or the far right. Thus, this strategy cannot be created using all calls or all puts. Thus, if we assume the strategy is created using options only, the strategy must be created with a mix of calls and puts. Of course, this strategy can also be created using other assets, such as a risk-free zero-coupon bond.When the bull spread is created using puts and the bear spread is created using calls, the resulting payoff is the payoff of a short risk-free zero-coupon bond. In this case, the investor is borrowing money.

I do not trust you, faggot. Someone needs to buy a safe like this
https://www.amazon.com/Safstar-Digital-Electronic-Safe-Box/dp/B01AL23IIW
Then they program it with a code. They must engrave something on it for proof it is the same safe box. The safe box will then be sent to OP, open. OP must live stream himself placing the key inside the safe box and closing it. Mods should receive the code for when it hits 25k.

So, not to answer my own question but I'm currently reading The Visual Investor: How to Spot Market Trends by John Murphy, and looking at the RSI, MACD, and ADX indicators this looks to have some momentum. Of course the best entry point looks to have been around April the 19th when the MACD lines crossed above zero.


ChartMill - ACLS

So for any of the more seasoned traders out there, would this one be worth jumping into a little late, or would you just move on and look for another opportunity?

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 Complete Guide to Option Selling

Ayyyy lmao

https://www.amazon.com/Complete-Guide-Option-Selling-Options/dp/0071837620/

I was going to recommend this but I'm guessing they'd garnish its value in bankruptcy court.

https://www.amazon.com/Natural-Harvest-collection-semen-based-recipes/dp/1481227041

this will go perfect wiith it

This book will help you become prepared to rebuild your account in the event of a big draw down.

When did you guys become such cocky shits that are too good to recommend a fucking book or website to this guy?


Check out Rookie's Guide to Options first. You should have no problem writing covered calls on a stock you own right now, but must have 100 shares and plan to keep holding.


If you want a primer on 'pricing,' just know that options price is all based on volatility. If people expect high volatility (like around earnings) they will bid up prices on options, making them more expensive right before announcement. After an event like earnings, volatility drops. To make money on options, you usually have to make a correct estimate on the direction and/or volatility of the stock, depending on if you've hedged one out or not.

I think the consumer patterns have shifted. I hate going to stores now. Cant even stand going grocery shopping anymore. Amazon got us spoiled. I even order the smallest items and refuse to drive to stores..lol The selection and options amazon offer you is amazing. For instance, I used to drive to Target or Dick sporting good to Buy swim googles. Now on Amazon, so many incredible options and really good stuff comparing to crap in stores. GOt these from Amazon and they are so sick. No way I could find them in any store in town:

https://www.amazon.com/gp/product/B00UUU84R6/ref=ppx_yo_dt_b_asin_title_o04_s00?ie=UTF8&psc=1

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?

For the half of this that isnt a shitpost, Id also recommend "Trading Option Greeks".

https://www.amazon.com/Trading-Options-Greeks-Volatility-Pricing/dp/1118133161/ref=sr_1_1?ie=UTF8&qid=1497364877&sr=8-1&keywords=trading+options+greeks

James Cordier, the guy behind this fiasco, wrote a book on selling options. The best part of his marketing is this:
> Option-Selling Strategy and Risk Management
Choosing the right options to sell, the most powerfulspread strategies, the mechanics of selling, and protecting yourself from downside risk like a pro

Book: Trading Options Greeks

https://www.amazon.com/Trading-Options-Greeks-Volatility-Pricing/dp/1118133161