I occasionally mention, but never push my books on this blog. Today is an exception.
I find myself in a very frustrating situation. Obviously there are many places to learn about options, but I've received enough questions to recognize that people who have been trading options for a few months or years, should not be to buying and selling options with real money. Too many fail to understand the most basic concepts of how options work. I don't want to see people losing money just because someone on whom they depended, failed to provide a satisfactory education.
The Rookie's Guide to Options: The Beginner's Handbook of Trading Equity Options was written to fill that void.
A recent review was very complimentary.
The book is written in language that is clear and easy to understand.
The style is conversational, and I speak directly to the reader.
The book contains everything you need to know to begin using options. This is not a complete course containing every piece of information, but it contains more than enough to teach you to be a successful trader/investor. And if you are concerned about insuring the value of your portfolio after living through last year's market debacle, you'll learn how to accomplish that.
There's plenty of extra information for those with inquiring minds.
Although the book is targeted to rookies, there is enough advanced material that this book will be useful for years to come. Thus, it's appealing for readers who feel they don't quite 'get it' and want clarification on many points.
Examples are provided, in detail. I lead the reader through the decision-making process when entering into a trade. The reader reads my thoughts as I explain the process that allows me to select a specific option for a given strategy. This is a unique learning method that allows you to immediately recognize where you agree and disagree with my trading style. That's advantageous because it helps you quickly discover your own style and comfort zone. I don't ever believe there is a single 'best' option to trade because so much depends on the investment goals and investing style of the individual investor.
I look at many alternatives when considering a trade, pointing out which would be more suitable for the conservative or risky trader. A total of six strategies are covered, including iron condors and double diagonals.
One of the major attributes of the book is the constant reminder of my basic premise: risk management is the key to long-term success when trading options. I illustrate several ideas for managing risk by adjusting positions, but because you learn to think for yourselves, you will discover other ways to manage risk (several are discussed in previous blog posts).
You can download a free e-version of the book, that contains a very short sample from each chapter.