2 comments about Option Strategies for Directionless Markets: Trading with Butterflies, Iron Butterflies, and Condors.

1. I have read a lot of books on options and most of them have one thing in common - they all just describe the various options strategies but do not provide any information on how to use the strategies effectively to make money. This book is no different.
   
   The book delves into how a butterfly and a condor are structured. If you know that a butterfly is structured by a short straddle and protected by a long strangle further out of money, you can skip pages and pages of explanation on the structure. If you already know how to calculate the profit or loss for various prices of the underlying at expiration, you can again skip many pages. Same is true regarding the option greeks. Also, pages and pages of theory does not add much value if you already know about the construction of a condor, which is nothing but a short strangle protected by a long strangle that is further out of money.
   
   What is sorely lacking from the book is any advice on how to practically use these strategies for profitable trading. The author mentions that you will trade these strategies when the market is range bound. The author does not give any practical suggestion on selecting the long strikes or wings of the butterfly other than mentioning in the passing that one may use probabilities, but does not go into details of how the probabilities are derived. If you are a butterfly trader you probably already know about standard deviations and probabilities and the importance of IV in calculating the expected movement. Also, once you are in a trade, how do you manage it when it goes against you? The author does not discuss that in any detail.
   
   The chapter on 'Strategy Applications' has a lot of diagrams depicting when to leg into and out of the butterfly/condor depending on the market; whether it has broken out of a range and whether IV is falling or rising etc., This is one chapter that can be of some practical use.
   
   All in all, if you are a beginner you might find some interesting reading on the butterfly and condor strategies. But all that and a lot more strategies are covered in depth in McMillan's 'Options as a strategic investment' book.



2. I would have liked to see more information on guidelines to determine the best range (width) to buy (sell). Specifics on Condor corrections like when is the best time, how to determine how much correction, and alternatives. I would have liked to see ideas on "winging into condors" or adding one side at a time.

5 comments about Trading Commodities and Financial Future: A Step by Step Guide to Mastering the Markets (3rd Edition).

1. George Kleinman does a fantastic job of explaining the Commodities and Futures markets. Further, he does a great job helping a new trader get some 'legs' to stand on. He provides valuable insight into developing a trading methodology, and helps the beginning trader 'find his way' in the plethora of trading solutions out there. He demystifies how trading is done, and provides solid "Western" and "Conventional" trading practices so that the beginning trader has an excellent foundation to expand their knowledge. I would say that George's suggestions and lessons in the book are the basis for my knowledge (book smarts at this point) and provided the grounding necessary for expanding my knowledge base into Fibonnaci, WD Gann, Candlesticks, and so much more. Basically, it is my opinion that every beginning trader (not stocks but Commodities and Futures) should read this book. He does an excellent job explaining how trades, stops, support, resistance, MACD, Stochastics, Trend Lines, many other various methodologies can aid a trader into making good trades. I highly recommend this book.



2. this book is ideal for beginners and pro's that need some directions on how to make things the right way, i must say i enjoyed the small stories in between , overall whoever is looking to begin trading futures it is a must



3. If trading is about markets, psychology, technique, then this book is an excellent introduction to these areas. Beeing balanced and only 250 pages, the book does not cover the areas in much depth. This might be a positive or a negative according to what one wants. 5 stars because the book is easy to read and gives an excellent big picture view on trading.



4. I've found that most financial books are either overly simplistic overviews that are rarely more informative than a pamphlet or are filled with arcane academic information that is not put into any useful/practical context. This book does a fantastic job bridging the gap. It begins with an excellent overview on how the markets work, then moves into practical strategies, with an emphasis on which indicators are likely to be most helpful. It's easy to read, in part due to the author's personal touch. Definitely not dry.
   To call this book "largely pedestrian" is pompous and petty. If you're new to futures or at an intermediate trading level, do yourself a favor and buy this book!



5. This an insightful book about the authors experience with commodity trades. For those who are clueless and watch Mad Money, I wouldn't recommend this book because it doesn't visualization. It's More of a general overview of the basics, it brings a good feeling for individual investors who are stumbling to make a decent decision.
   
   Instead, go with Dona Kline, Kenneth Morris "WSJ: Guide to Understanding Money and Investing" or stick to the Dearborn PassTrack books. Also try Kaplan for continuous education, but don't rely on it too much.
   
   For those who are seriously taking the securities exams, always prepare yourself for 110%, nothing less.
   
   GO FOR IT !

5 comments about The Encyclopedia of Trading Strategies.

1. The Encyclopedia of Trading Strategies is well written and is a good book if you are looking for something very technical and mechanical. I was disappointed with the book. I thought it would offer chart set ups or set ups per technical indicators. Instead, it offered codes, etc for setting up mechanical systems.



2. I liked this book.
   it presented many ideas and a right pragmatic approach to test a trading system.
   I found tough the statistics part, but it's not an author's fault: it's statistics.
   in the final part I found many repetition (many pages might be saved just writing: " hey, for this system we apply the same said at pag. xyz..").
   
   Only two things remained a mistery to me (but I'm not much intellingent..): why didn't the author make any test for longer horizons? in the end, the strategies never approached a longer term trading strategy: usually the trades last few days.
   maybe it's not worth? the author doesn't tell us
   
   ah, and it's not an encyclopedia: why did he choose this name?
   this is the second mistery...



3. The book should be compulsory reading for any aspiring systems trader.
   The testing methodology is thorough, and they cover many of the more common approaches to systems trading as well as a few that many will find a tad too esoteric. My only complaint is that the book could present us with more detailed stats on the tested systems. In e.g Way of the turtle (a much less comprehensive text) the author does an excellent job of presenting stats on any tested system, including a number of important measures you will not find in the Encyclopedia. Overall, I still believe it is a must read. For beginners I also recommend the following books (for starters):
   
   Way of the Turtle (Faith)
   Evidence Based Technical Analysis
   Design, testing and optimization of trading systems (Pardo)
   
   Also, check out the Trading Blox forum at tradingblox.com for
   tons of useful info on systems trading.
   
   * s p e c t r e *



4. This book provides an overview on the type of strategies available and shows the results done on the different strategies. For system developers it is useful to know that most strategies - pure trending, oscillators etc do not perform well at all!
   What is lacking is a more thorough analysis of the different methods. Overall a useful book which highlight the pitfalls which system developers will fall into.



5. Anyone planing on or currently trading using technical analysis should read this book. The lessens inside can help prevent loss of savings.
   
   This book takes a careful look at various types of technical indicators and trading strategies that use technical analysis, the types of methods commonly found in charting software and technical analysis books. For me the bottom line is that making a consistent income from trading, using technical analysis, is difficult. (Losing money is not so difficult).
   
   The software referenced in the book and available for a relatively small price, is in my opinion very powerful, but difficult to master (C++ source code that must be compiled, debugged for your compiler, and modified to create useful systems).

5 comments about The Option of Urbanism: Investing in a New American Dream.

1. People outside the planning profession would find this book helpful in understanding new directions that are possible. Developers who are looking for a competitive advantage tool would do well to avail themselves to Leinberger's perspective on urbanism. It is an easy read, not technical, requires no specific background other than a healthy curiosity and drive to do better. City commissioners would also benefit from purusing these pages.
   
   The author is a major mover and shaker in Albuquerque and a key proponent of their downtown revival. Leinberger writes from first-hand experience. I recommend reading books like this because it is a chance to get inside the head of a visionary. A person could easily read one book like this each week; how else could you immerse yourself in 52 change agents per year?? When a consultant of Leinberger's stature shares 5 hours of his insights for less than $20 it is a pretty good value.



2. Written from a perspective that most urban critiques fail to provide, this book grounds the reader in the real estate, demographic and policy realities that have shaped the American built environment into what we see today. Leinberger knows this stuff cold, both as a developer and through his more recent positions in Brookings and academia. He writes in an approachable style and provides the most thorough discussion to date of the entrenched system of subsidies and practices fueling types of residential and commercial construction that is increasingly at odds with the "true" market. Late in the book, I think he makes a rare--but very appropriate--connection between the implication of the continuation of these policies and our future energy needs. For those of us who like a good, constructive reality check now and again in the midst of all the usual suburban finger-wagging, it's a must-read book this year.



3. I met Chris Leinberger 13 years ago when we began in earnest to address how we were growing in Atlanta. He was knowledgeable, articulate and helpful then, and he continues to be so today. I have borrowed extensively from this new book of his in helping people to understand how growth and development issues relate to each other, why we must pursue walkable urban development, and what the multiple benefits are that derive from this approach to development and redevelopment. This book is well written, is appropriate for lay persons and "wonks" and can be read in just a few sittings. Thank you, Chris, for a terrific resource at such an important time in our nation's development history.



4. Great book. I lived the phases of walkable neighborhoods to driving-suburban. Now we have return to sustainable, walking neighborhoods especially with the gas cost.
   
   As I grew up, I felt supply and demand dictated growth. This book explained government and economic factors that influence development.
   
   good read



5. In _The Option of Urbanism_, Christopher Leinberger documents the history of both urban ("walkable urbanism") and suburban ("drivable sub-urbanism") settings. Before WW II, most people lived in cities and towns where most of their needs (shopping, etc.) could be met via a short walk, or perhaps, with public transportation.
   
   After the war, the big swing was to the suburbs, due to several factors. Government and financial-institution policies tended to favor the suburbs, freeways, single-family housing and shopping malls....and discouraged any meaningful pro-urban development--at least until very recently. Nowadays there is a considerable demand for more dense housing, with destinations within walking distance.
   
   Although Leinberger is very much in favor of urbanism, he does talk about some problems with it (affordability/gentrification is a big issue with some of the newer urban developments). Neither does he call for the suburbs to cease to exist, although he warns that some suburban developments may be hurt by the shift to the cities, rising gas prices, etc. (This book was written right before the current mortgage and gas price crises, and we're starting to see their effects on certain suburban areas as I write this)

5 comments about Futures & Options For Dummies (For Dummies (Business & Personal Finance)).

1. Helped pass the Series 3 license, and helps with understading the industry.



2. If you're new to options, this is _the_ book to start with. Surely, online resources are plentiful, but no single web site can give you all the information and explanations you need to really get a good grasp on whqat exactly might be happenning. I've already made some money in options but, believe it or not, I've made more in stocks because I didn't quite grasp how these things work. This said, if you understand options and have a good idea of how the underlying (stock) is going to perform you can see your option appreciate 20, 50, or even 100 plus percent in a very short time. This is the draw of options. The most important thing you need to know, however, and this is 'experience' speaking, is that you have to, i mean, have to reel in your money if you see so much as 5 or 10 cent markdown in the price of your option. Why? because, unlike stocks, you can always buy right back in if the thing does start going your way With stocks, you usually hold it until you see , say, an 8% depreciation in value. This is not true with options. If you have, say, ten contracts, you're leveraging 1000 shares. Thus, if your thing goes down 5 cents, you've lost 50 dollars; 10 cents, 100 dollars and this usually happens intra-day, within a few minutes. For this reason, options are classified as 'high risk', but it's only high risk if you're averse to gettting rid of them. Stocks might take 2 or 3 or 5 days or more to show such a drop; that's when you might sell. Oh, and one more thing...having the right software makes or breaks your trading. Schwab offers options, but not any kind of software that gives you all the information and tools you need. Check around; there's a few that offer killer stuff. Visit investools.com
   I hope this helps future traders but, if you must know, you gotta digest all the info in the options part if you're to get a grip on the thing.



3. I found the book way too cumbersome. The author tries to write about everything financial and as a result does it very poorly.
   
   I found the section on Options especially weak. He's taken a straight forward subject and made it seem more complicated.
   
   Pass on this one!



4. This isn't what you expect from the "For Dummies" series. Meaning you don't close the book feeling you can get started with confidence (unlike, say, Currency Trading for Dummies, after which you can do just that). Overall it's a useful primer but nothing more. Its strengths are some macroeconomic insights and occasional tips on how the big players play the game. It is average in terms of giving the basics on calls and puts and basic spreads, and it gives the usual overview of charting and technical analysis. The three main weaknesses are: 1) An overemphasis on using historical charts to show where you could have bought and sold based entirely on 20/20 hindsight; 2) Trying to cram in too many subjects in the second half of the book, offering brief intros with very few insights but what feels like at least 2 warning per page on "Don't forget there is risk involved" and "Moves can be huge and reversals are unexpected;" 3) An absence of an overview of the tools and software available. This last is the clincher why I gave it only 2 stars. Because trading in futures is considered the big league (and rightly so, because there IS huge risk involved), the best softwares cost money and are sold business to business. It is still not considered the realm of the burgeoning individual speculator. For internet software, well for any software, you need to have a simulation so you are expert in the workings of the software before trying to trade real time- imagine losing thousands of dollars because you don't understand how to correctly set up your spread in the software!
   If software does include a simulation package for evaluation, it is likely using simulated data. The better software packages that offer simulation for options will balk at futures and tell you you need to be approved for a futures account, in other words you need to commit before seeing it. This current grey area for individual speculation is to be expected, but that's why I bought the book, hoping it would bridge those gaps. It did not.



5. I'm new to options so this seemed to be a good place to start and some of the information was helpful but when I found a glaring mistake on page 75 I lost faith in the book and won't finish it. An example is given of a covered call that is supposed to make $500 or 10% but it actually looses you money with commissions..Read at you own risk

5 comments about The Options Playbook.

1. This book is an excellent reference and I find I refer to it often. The author spares the theory and gets right to the point of each "play." The trades and positions are explained very well and categorized for you. The book also provides insight and recommendations of the skill level needed to manage the various trades. You can lose all your money when trading derivatives such as options, all you control is how much you risk. The book also provides tips on setting up the trade, risk management, margin requirements and recommendations on the types of securities suitable for the trade discussed. It rates each play to the skill level required and if you are new, I would not start out with Veteran or All-Star plays. The diagrams really help you visualize what you are trading and how to see your position play out. For studying topics like being delta-neutral or negative gamma, I'd recommend Jeff Augen's book.



2. The "Option's Playbook" is straightforward in explaining the basics of options and options trading. It also lines out the different strategies and what their purpose is.



3. Brian Overby is an extremely helpful teacher of the science of options. The videos that he does with the Chicago exchange make this very clear. In addition, his material at TradeKing addresses almost any question you could raise and in a clear and cogent manner.
   
   In this book, you will see laid out in the simplest possible manner all of the major option strategies. It is a very effective introduction to a very complex topic, which is often made more complex by the proliferation of words and superfluous information given in many other books.
   
   I was disappointed for 3 reasons.
   1. There was a coupon with the book which would have put money in a TradeKing account for me but I couldn't use it because I already had one. So don't open your account first if you are thinking of it.
   2. Although it's great to be simple, it would have been nice to have a little bit more text in this book. Perhaps a FAQ or some very basic chapters on things like money management, etc.
   3. For what I got, I felt it was too much. This book should sell for $15. At that price it's really a gem. At $35, it's a bit of an overpriced reference.



4. I purchased this book as a possible resource for a client who wanted to learn about the options market, and, after reading it, I began to recommend it to everyone I know who's into or has investments. This book explains, in 'plain' language, how to use options to protect the value of the stock you own, and make money with anxiety-free options trading. The presentation of the material is clear and straightforward, as it should be, because it is designed to be a working manual for the TradeKing service. It was a stroke of genius to call this a playbook, because work it is not. The convenient format makes it possible to lay it out flat - the book is very well designed.
   
   This book may be too simple for those, who like me, are skilled at predictive methods and the math behind the markets, but, for new investors and those who want to make more out of their current investments, it has plenty to offer. This playbook is a much better investment than one of the courses sold on TV or the internet that cost more than 10 times as much, and is one of the best first steps on the path of options trading that I've ever seen.



5. I ordered the book because I wanted to know more about covered calls. Instead I got an eye full of an advertisement for their website. I am sure all of their services are superb. But I just want to stick to covered calls. No need in buying the book, save your money and be a member of their website.

5 comments about Investing in Real Estate With Lease Options and "Subject-To" Deals : Powerful Strategies for Getting More When You Sell, and Paying Less When You Buy.

1. As Real Estate Investors, when we hear of different ways to make money in this business, usually the first question always is "Will this work for me?" or "Will this work in my area?" or even better, will it work now "in this type of market?" Well, I say that Wendy has techniques that will answer YES to all three questions. My eyes really lit up when I learned how to combine methods--such as buying "Subject-To (getting the deed) and then Lease Optioning!!! Boy talk about a million dollar idea!! And these methods work -NO MATTER WHAT YOUR MARKET IS DOING!!! It was once said by a very popular and wealthy individual that we should "Own nothing and CONTROL everything"--well you got it right here!!! CONTROL WITHOUT OWNERSHIP!!! And you can get wealthy doing it. How would you like to own (control) over 100 homes at one time and have THREE sources of income from EACH house!!!! How many checks can you handle? That is what this book will do for you!!! GO GET IT NOW!!! RIGHT NOW!!!



2. This book is very well written. Excellent. Three months after reading her "Lease Option/Subject To" book I was able to do a lease option deal with a motivated seller. Now that I am ready to exercise my option, I was having problems finding a mortgage broker that can refinance a lease option deal. I emailed Wendy Patton and she responded in less than 24 hours with 5 mortgage brokers that can do the refinance. Bottom line, this is a Great Book! and a Great Author!



3. Fight The Good Fight I've been to a Wendy Patton seminar. She is a great teacher. Her material on lease options and subject to's are excellent resources. With her it's not all about selling you a $5,000 course. She actually provides valuabe information for the price of the book. I can't say the same about some of the other real estate guru's.



4. After investing in real estate for the last 8 years using lease options and subject to deals, i was pleasantly surprised by this book. Wendy Patton packs this book full of great ideas and techniques for both the beginner as well as the advanced investor. Anyone wanting to buy real estate with little or no money down, must read this book. Byron Walker UltimateResultsNow.com



5. I really found a great deal of useful information in this book familiarizing and guiding the reader through the lease option concept. I was willing to give this book 5 stars if it wasn't for the poor writting style in the first few chapters and simplistic cost/profit worksheets. Overall lease option is well introduced but when it comes to list costs associated with acquiring a lease option property until selling it to a new owner there is no emphasis on major costs like transfer tax and title fees, etc. In other words if you do not do your own research and just thrust the worksheets in Wendy's book you might evaluate an investment as highly profitable while it is not much profit potential after associated transaction costs. However to be fair Wendy mentions a few times that a novice investor should not jump into any deal before consulting with a local real estate attorney.

5 comments about Trend Trading for a Living: Learn the Skills and Gain the Confidence to Maximize Your Profits.

1. I am honored that Dr. Elder would take the time to respond to my recently published book, "Trend Trading for a Living". For the record, the title was chosen by the publisher for reasons not disclosed to me (my own title suggestion was rejected). With all due respect to one whose work I respect a great deal, I'd like to correct his primary assertion: my book has a lot to do with his, for it was his classic text, "Trading for a Living", that got me started on the road toward building techical trading systems.
   
   As I state in my acknowledgements, "...I am indebted to Alexander Elder, master teacher and market psychologist. Dr. Elder first revealed to me the elegance and logic of technical analysis as applied to price charts. Many of the of the key concepts embedded in the systems explained in this text come from his seminal work...now considered a classic in trading literature" (p. xv). Later in the book, in the introductory chapter, I devote two paragraphs to explaining what I learned from reading Elder's work (p. 17). The principle of "divergence", so central to several of my systems, I learned from him.
   
   Of course, our books differ markedly. I offer 10 complete trading systems (5 long, 5 short) whereas his book offers 3 systems (triple screen, parabolic, channel). Elder is primarily a futures trader, and his examples are from futures markets, whereas I am exclusively a stock trader. One-fifth of my book is devoted to trend trading stock options but his only mentions options (on futures contracts) in passing. And Elder's book offers a catalog (very helpful) of over 20 technical indicators and sentiment readings while I've tried to simplify things by discussing only those indicators I've found to be most reliable for trend trading (trendlines, RSI, MACD, OBV, CCI, Stochastics, Moving Averages, and candlesticks).
   
   Regardless, I hope that Dr. Elder would read my book and learn there just how much his work has meant to me. I owe him a great deal of thanks and hope to meet him one day soon to express that.



2. It was an ok book. I expected alot more from the author. I don't like books that self promote all through the book. I bought the book, obviously I like you and what you represent. I do not need to be reminded of that every few pages.
   
   It could have been alot more. There was some useful information - but the promotion gets in the way.



3. Psychology, money management and an edge with a positive expectancy is all you need for trading success. The trading strategies in Dr. Carr's book give you that edge and are also easily adapted to end of day trading and longer trends. The Dr.'s passion for trading and teaching his readers to trade is obvious throughout the book. I've been trading trends for a very long time and I now have a book that I can recommend to people who want to know how to succeed using this method.



4. A great book with real insight. I particularly like the fact that he actually provides about 10 scan setups to help locate stocks which fit various bull and bear configurations he describes, then he explains how to trade them. Very useful, its at my desk everyday.



5. The trend trading is match with my style. I have read a lot of books about this such as, Michael W, Dr. Elder's book and more.. that are great books. For "Trend trading for a living", They are a step by step cleary information which is easy to follow and give me more detail to complete my trading system.

5 comments about A Beginner's Guide to Short-Term Trading: How to Maximize Profits in 3 Days to 3 Weeks.

1. I've read this book twice, [I read everything multiple times] good entree into various mkt-related topics, though certainly requires follow up via other books, methods, research. Being a golden Buddha, I love the centerpoints.



2. This book taught me a great deal in a short time. It was not only easy to read, but informative and encouraging. She explains concepts in a very straightforward manner plus and was very positive about trading in general. I would recommend this book to anybody just starting out and want to learn more about trading stocks using technical analysis.



3. Learning to trade confidently & profitably was probably the most daunting endeavor I've ever taken up. As a former novice trader, I recall having the feeling that I was paralyzed by uncertainty and self-doubt about my trades. It seemed then that there was drastically more information than a person could take in. Everything I heard or read made me believe that it was so critical and important. Yet I never seemed to understand how I should use what I was learning. I was always a step behind the market, chasing the crowd and loosing money. The more I traded the more frustrated I became. I thought I'd never understand how to trade. I'd lost so much money and enthusiasm that I considered quitting trading and leaving it up to smarter people than myself. I was beaten and embarrassed.
   
   That was all before I read this book. Toni showed me step by step what I needed to know in order to get a firm grasp of trading successfully and profitably. What made this book so special to me is that Toni has an easy style that describes everything in really plain language. She takes nothing for granted when she explains how to read charts and when to buy and sell. She rounds out every chapter with some words of wisdom that guide the novice and expert trader alike toward having the knowledge, attitude and confidence to succeed. It's akin to having a "market mentor" showing you the ropes in a very thoughtful and intuative way. She's a great teacher and what I've learned from her has been the foundation for all of the knowledge I've aquired since reading this book.
   
   In short, this book helped me see the beauty and simplicity of trading for profit & I'll never give it up (I do it for a living).
   
   Brian Berry [...]



4. this book is good for beginner but i think if it has more real life example that will be more easy to understand.Should have specific rather then histroy.helal for sydney australia



5. Excellent book - fast shipping - excellent condition - will buy from you again. Thanks very much

3 comments about Trading Options For Dummies (For Dummies (Business & Personal Finance)).

1. What this book lacks in detail, it makes in subject completeness.
   
   There are dozens and dozens of great websites out there describing options and trading strategies in far better depth and completeness than this book. So, if you're looking for complex spreads or techniques, this book will not satisfy you.
   
   However, online searches are so saturated in trading strategies that it's actually difficult to become aware of real world transactional details (like, "who are the market makers? how does assignment work?"). this book nicely wraps up those "loose ends" that are hardly ever mentioned on your favorite search engine.



2. I wanted something that took me from 0 to 60 in a couple of hours, to explain options in plain english. This book goes from 20 to 120 then back to 40 and up to 80 then back to 10, very poorly constructed and organized.
   
   (My review for Dummies: This book is difficult to follow, jumps around a lot, and rarely satisfies the curiousity at hand)



3. I wanted a book which would explain buying and selling options in a thorough way for someone who knew very little about options. This is not the book.
   
   The author seems to have the intent to throw in as many complex terms without every explaining the simple things. Never once in this book is a walk through through on how to buy a call, how to sell the option, or on how to exercise the underlying contract. The same goes for simple puts.