5 comments about Cashing in on Covered Calls. Investing with Stock Options.

1. This book is an excellent read.Alan Ellman has developed a profitable system that a novice can follow as well as a seasoned investor.Alan makes the art of selling covered calls easy to follow and understand.The approach is very conservative,producing a steady monthly income stream.I have been selling covered calls using his system and have had a positive cash flow every month(even when the market went down).I highly recommend this book to anyone looking to successfully take charge of their own finances.



2. Best Book on covered call options that I've read
   This system was a real eye opener -Takes you step by step through the entire process from picking the correct stocks to exit strategies-While most option books only give you a cursory glimpse into covered calls, Ellman's book goes through the entire process-A must read for beginners and veterans alike



3. For the first time in my very long life the market is now my friend. This system is so clear and concise I'm even getting great returns in the market. Just following Alan's advise alone can point you in the right direction toward financial freedom. A must read if your looking to do things right.
   Dennis Hand



4. ALAN, I want to thank you for your book on Covered Calls. I subscribed to a course that cost several thousand dollars to learn all the different ways to use options (Bull Call, Bear Put, Straddles and Iron Condors etc) but they never told much about covered calls. I bought your book for $19.95 and a Subscription to Investors Business Daily. I have recouped my investment in the course and have settled on using covered calls exclusively to do options. My thanks to you for showing me the way. It involves much less risk and your method is a way that I can do options without losing sleep. It does require some monitoring, but that only takes a few minutes a day. Thanks Again



5. The book contains key concepts for creating a potentially profitable trading system, but doesn't go into enough detail in certain areas, especially regarding what to do when a stock goes down. I wanted more strategies dealing with managing losses, but I think the author saved that for his extensive line of CDs and DVDs. But you can figure out strategies of your own if you research, ponder, and trade long enough.
   
   My final word is for you the reader to enter the market slowly and get used to the rules of placing trades, to get a feel for how the market moves and how much, and to experience the feeling of having your money on the line (much different than when it's paper). Eventually you can move into bigger positions and discover how much "stress" you can personally endure. It took me many nights of half-sleep before finding a level of risk/reward I was comfortable with.

5 comments about Technical Traders Guide to Computer Analysis of the Futures Markets.

1. This book is nothing special. I really disagree with the author's interpretation of the ADX indicator. Absolute level is far more important than slope. The day trading systems shown will lead you to the poor house in no time. Presents some novel ideas though.



2. I know Charles Lebeau. He does occasional system seminars with my father Dr. Van K. Tharp one of the "Market Wizards" and author of Trade Your Way to Financial Freedom. Charles Lebeau is a great trader. When anyone ask me about a technical indicators book this is the one. Charles is very through. He noticed the best traders in the industry are usually right 30% to 40% of the time. They just cut their losses short and have these huge winners. Charles tested most of the major indicators against random entry i.e. (Flipping a coin) most of them don't do any better. Your exits, psychology, and money management determine if you are making money or not. Don't pay too much attention to your entry. This book explains his results and how to use each indicator. Almost any indicator will work with proper money management. I done well even with flipping a coin and the right stop. The indicator best for you is one you feel comfortable with and will stick with. BUY THIS BOOK and hopefully what I wrote may make some sence to you.



3. I only discoverd this pretty old book recently. I am suprised to find there are quite a lot of trading tips. What make this book stands out of the crowd is the tips were very concrete and practical. The discussions about exit and stop loss are parcticular good. Many other books just said cut the loses quick. How quick? When? This book gives you some hints. The authors also give some tricks in using indicators which I hope I could know earlier.



4. This book gets a 4 stars rating because of its expensive price (the book is only 220 pages and full of empty spaces). But, price is always subjective. You may treat it as the cost of your education.

   Anyway, what makes this book so very valuable is the fact that it is easy to read, clear, definitive, and yes it has so many valuable information on what parameters to use for each indicator. How many of you left confused on what parameters should be used? This book will definitely clear away the clouds in your mind.

   LeBeau has done extensive research on indicators such as ADX and his insights on other popular indicators are extremely valuable.

   The title may be slightly misleading because bulk of the contents is explaining each technical indicator (120 pages), while only 45 pages on explaining how to build a trading system. Yet, it is clear and concise.

   The final Chapter is also valuable. It deals with 12 Day Trading systems that the author has selectively chosen out of all day trading ideas he has or has received from other great traders.




5. This book is a must read for Trading System Developers. The concepts can be applied to many markets. The section on testing alone is worth the price of the book.
   
   www.iExpertAdvisor.com

5 comments about Stock Options for Dummies.

1. I was misled by the title of this book am disappointed. This book is NOT for individuals who want to take their investing to the next level and start trading options on the open market, as I had expected -- rather, it is for people who are offered stock options through their employer.
   
   If anyone knows of a good beginner's book for trading stock options, please clue me in.



2. First, disregard the 5-star rating. *I* think the book is good of course, but that's not why I'm writing this comment.
   
   To the two recent reviewers who complain that the book isn't about puts and calls but rather about ISOs, NQSOs, etc. - look, I'm sorry for your inconvenience but if you had taken about 2 minutes to skim the table of contents and the editorial review on the amazon.com page ("...your company's stock option plan..."), you would CLEARLY see what type of stock options this book discusses. In fact, taking less time to do so than it took you to write your complaint-reviews and give the book a poor review would have saved each of you $20 or whatever the book cost you.
   
   So my sympathies to you for your misspent $, but come on: blaming the author and publisher for your own haste and, further, feeling the need to do so publicly on an amazon.com review with one- and two-star rankings? (At least the other reader who did the same thing back in August, 2003 had the courtesy to give a 5-star ranking because of the reselling experience on amazon.com to rectify his/her error.)
   
   I sincerely hope that if you do begin to dabble in puts and calls - the other kind of stock options - that you do so with much greater care than you took in making your respective book purchases. Otherwise, you should really think twice about that side of the investing world.
   
   To the one reader who is looking for a beginner's book about the other kind of stock options: see "Futures and Options For Dummies" by Joe Duarte. But do your homework first before buying!



3. This book is aimed at employees elegible to receive stock options in the company they work for from their employer.
   
   It is NOT for investors wishing to buy and sell stock options through a stock broker.



4. This book, to me, was completely worthless. I purchased it thinking, like others commenting, that it was about options trading (puts, calls, etc.), not about "employee stock options" (which is what the book should be titled).
   I did read the author's response to criticism about the title, and I think he has some valid points; and in return I would like to sell him a coffee table book entitled "Cats" with a cute little kitten on the front. When he opens it I'm sure he'll be happy to see that it's full of pictures and information about catepiller industrial equipment.
   Also, his argument that anyone who looked at the table of contents would know what the book is about proves that he does not realize who his audience is: This is a "for dummies" book; it should be assumed that the reader knows very little about options. So, how would someone who knows extremely little about options know that chapters entitled "Stock Options: What you need to know right off the bat", Exercising your stock options", and "Finding stock option information online" are not what they are looking for?
   While this book may be very useful for someone wanting information about EMPLOYEE stock options, it was completely worthless to me. Make sure it's what you're looking for before you purchase.



5. This book is a review of employee options. I was hoping for a more comprehensive review that would explain options buying , trading etc.
   It is adequate for the topic of employee options , but nothing else.

No comments about High-Powered Investing All-In-One For Dummies (For Dummies (Business & Personal Finance)).

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 Options Trading 101: From Theory to Application.

1. I got somewhat impatient with the basic and repetitive nature of the first third of this book, but pace and complexity really picked up as things went along. The description of synthetic options was eye-opening, and introduction to spreads near the end was very good. Recommended as beginner to intermediate text.



2. Bill Johnsons Options 101 trading book is an excellent introduction to the how's and why's of option trading. The style of this book is exactly like many college math and science textbooks with examples and problem sets. I personally have benefited from the discourse on the "roll-up," which is a strategy I had not come across previously in other training material.
   
   The book suffers, however, from poor proof-reading of the arithmetic. There are many places where the numbers don't add-up to what the words are saying, and vice-versa. Some may find that scribbling the corrections in the margins improves comprehension but if your arithmetic skills are weak then this book may not be for you. I think Options Trading 101 deserves a 2nd edition to correct the errors.



3. I'm a newbie to options and find this book very understandable. The analogies in the book help one understand the nature of options.
   
   My only criticism is that the book is not indexed. If I want to review a certain concept, sometimes it's difficult to relocate it because there is no index.



4. A very good book. Written in a very easy way. Just can't stop reading it.



5. This book had so many errors and blatant contradictions it was more confusing than the genealogy of Jesus. It will have your head spinning so fast some may mistake you for Linda Blair! The author blitzes the reader with math and details the understanding of which simply is unnecessary in order to trade options and could easily intimidate someone new to trading. The excessive errors found throughout the text are inexcusable, especially for a technical book. When practical applications are finally covered in the final third of the book, we aren't presented with anything really interesting. The Iron Condor strategy is mentioned once earlier but is quickly dismissed in a condescending manner as if someone who could thread through all that math wouldn't easily pick up that relatively simple concept! If you are new to trading and don't want to be more confused after you read this book than before you picked it up, this one should be avoided.

5 comments about The ART of Trading: Combining the Science of Technical Analysis with the Art of Reality-Based Trading (Wiley Trading).

1. Bennett consolidates his many years of experience to provide a high-level reference for traders. The book refers to the components of a successful methodology as pieces of a pie. For long-term success as a trader, complete and thorough coverage of all are necessary. The chapter on creating a business plan and identifying your own trading "style" are especially good.
   
   The book and DVD videos cover all aspects of the ART methodology. The use of notes directly on the charts provides clarity that is often not found in other books which have you flipping pages to get back to an illustration.
   
   As a user of the software, I found that the coverage of all trading styles to be very useful. Markets go through various periods and different approaches are needed. Bennett covers the ART techniques for trading bracketed, trending and counter-trending markets, as well as scalping.
   
   This book is a very welcome addition to my library.



2. This book was very organized and well written. Although the ART software that is referenced in the book is proprietary, the book has abundant and generally useful information on the business and art of trading. The sections on calculating trade size and setting stops are extremely valuable as well as the information on determining what kind of a trader you are (i.e. position trader, day trader, scalper etc.) along with the types of markets to choose.
   
   I highly recommend this book to anyone who wants to get a fundamental understanding of trading and to establish their trading practice on a firm foundation. The outcome of reading the book, for me, was to undertake an evaluation of the ART software as a TradStation plugin.
   
   Happy Trading!



3. It is written in layman words & is a very easy read.
   The nice thing is it comes with a 30 free trial to the system, which I am looking forward to.
   It explains the ART System clearly & precisely & gives excellent recommendations for implementing the strategies. It gives precise Entry, Exit, Stops & Targets, & explains how these have more meaning in real time not after the fact as most indicators do.
   Not only does it explain the System, but gives comprehensive instruction to handle the psychology of the market & ones own personality.
   A simple & straight forward approach on how to succeed in the markets long term. Well thought out, with plenty of insight to money management & preparing a trading plan.
   
   A very useful book, giving a complete, reliable & straight forward approach to trading in any time frame or any style.
   
   Thanks Bennett.



4. I am a veteran of trading for more than 30+ years. I have never been a passive investor I am hands-on and a former member of the NYSE, ASE, CBOE, PHLX etc.
   
   I have studied this industry through all of my successes and travails, always seeking new insight.
   
   It is my opinion that The Art of Trading affords the readers a new, relevant look into trading that will benefit all. I am not going to say it is the Holy Grail but than again that is pure fancy.
   
   It is attached to a software product that offers a 15 day trial.
   
   JAC



5. The book is easy to read and the concepts are not difficult to understand. I have not had a chance to try the 30 evaluation yet but will soon.
   I received an email Friday from TradersCoach.com with an example of a DOW chart. Bennett said the DOW could drop another 1000 points soon. Today, Monday the DOW was down 800 points at one point.

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 Market Maker's Edge.

1. This book does an above average job of covering various aspects of trading. Short of perfection, as if there is such a book, it does cover basically all aspects of trading. If I were looking to get into trading or investigating how to start this is where I would begin. I don't think that it's anything new for most accomplished or experienced traders but they would still learn something new from it.



2. I have read this book twice so far, it helped my results more than any other book. This book covers all of Elder's 3 Ms (Mind, Money, and Method) and more with concrete and actionable details. It discussed almost every essential aspect of trading in simple, clear, concise manner. I consider this book the very best in its category (I would rank it higher than Elder's "Trading for a Living" and "Coming into my Trading Room".) My favorite sections are "5-step to position sizing" and "Entry and Exit".
   
   This book is a must read to new traders, and it's a treasure worth many times of its cost.



3. As a professional trader and someone who has learned from the school of hard knocks as well as someone who has been trained through On-line Trading Academy (www.tradingacademy.com), I can not speak well enough about how this book broke down trading to it's core essentials. The key in trading is risk management, controlling your emotions and understanding how the market functions (i.e, price action, supply & demand, trends, support & resistance, and all the other basic principles). This book is extremely well written and should be included in every trader's library. I highly recommend it as it will give you great return on your investment.
   
   Best wishes and may all your trades be "green."



4. This was the 30th book on the markets and trading that I read. I'll admit I quit trading several times. But, I find this book is way better than the books I read years ago because it has specific ideas on how to trade. I loved the section on gaps and the great ideas like what he calls up-hooks and reverse hooks. I believe this book kind of screwed my head on straight for trading. But, I'm still in a period where I wanted to read for several months before I start actively trading again.
   
   I should note however, that I did a weirdly good trade right after reading the book. I believe this was the first time I made an amazing trade. I shorted a stock close to $29 and exited two days later when the stock was around $24. (Actually, I had bought a put option for $0.80 and sold it for $2.15.)



5. This is by far the best book on trading I have in my collection. Lukeman covers almost everything one woudl need to know about trading. Well written and each chapter has very good information. Enjoy!

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)