Customer Reviews

How I Trade Options (Wiley Trading)

5 star:		(13)
4 star:		(3)
3 star:		(1)
2 star:		(0)
1 star:		(9)

 

 

There are 2 real option books: 1) Options: Perception Deception and 2) Option Volatility & Pricing by Natenberg. Maybe there are a few others; but the 50 I've read have been useless.

"How I Trade Options" I would re-title as "Why I Am Fabulous and A Couple Option Stories" There is not one method in this book that will put option profits in your pocket.

An example of his trading: Way back when Yahoo was going up $20 each day for weeks, he finally saw this pattern and bought some shares and sold within minutes for a $2 profit. Can anyone tell me how that adds to my options or trading knowledge? I know people that made a fortune on those Yahoo runups - and they weren't professional traders; and all Dr. J got was $2.

Buy the real options books I mentioned and leave this celebrity puffery for Dr. J's personal library.

His site has a 10 minute video (greatly done) that talks about his new system called "Heat Seeker". It proposes to see when a LOT of activity is on a stock when someone (maybe insiders maybe floor people) buys a LOT of calls or puts. Then you buy them too and ride on their coat tails. It sounds logical.

So I joined because they had an unconditional guarantee. I asked first what was their "performance" for the year. They couldn't tell me, but it's on the site. So after I joined I see the buys and sells and they lost money for 2006.

But I followed some trades as the theory sounded good. Probably lost $1500 before I gave up, only one week. The kicker was TARO. This stock was pharmaceutical and was going to go up. In fact it went up 50% on the first day. If I can gotten the email alert earlier I would have got profits of 50%, but only 20% in one day. Who won't be happy?

But the next day lost half of my money. Seems as though TARO hadn't given the stock exchange a financial statement for TWO YEARS!

Wouldn't you think a options suggester would know that? I saw it posted the next day.

I did an analyst on the trades for the past 6 months. 2 out of 9 were profitable, but the whole year was a loss.

I don't know but after seeing MOST suggestions go up then down, I'd think maybe SOMEONE :-) suggest a buy, they buys first, the crowd then sends the stock soaring because everyone is buying and then the original person sells out for a profit-everyone else looses.

On 9/11 that's what happened with airline stocks. There was huge buying of puts on airlines a few days before (Jon Najarian mentioned this too in his video)the attack on the trade center.

I'm not saying changewave does this, but I'm through with these services that can't prove what they write about.

This is my experience for others to beware.

David

I have met Jon Najarian and heard him speak (NYC early March 2009 at a seminar). I found him to be kind and approachable, humble, very bright, and completely honest about his very short football career! Buy this book. Most of the negative reviews appear to be written by the same person, a person who will benefit from selling the products of MacMillan, Natenburg and Fontanills, or someone who has a very bitter attitude toward DRJ. Another person was extremely critical of a Najarian subscription option recommendation service. Attentiveness and self-education play a large role in successful option trading. Most of Najarian's picks make money -- you just need to know when to get out, and how to limit your losses on the ones that don't work out. DRJ's service is the best of several I've tried.
I strongly recommend this book. I lost my copy, and am buying another one.
It's deplorable that certain review writers choose unfounded personal attacks over professionl and well-reasoned criticism, especially when a man's livelihood and reputation are on the line.

You will see 10 Negative reviews for this book. Look closely at them. Two of them have been copied TWICE EACH for posting and the same common phrases and word usage are in all 10 reviews.
It seems that someone has a hard on against this author and counters each positive review with another NEGATIVE review to keep the average review score down to a 3 star level.
OUTSTANDING BOOK WITH TONS OF REAL INFO TO HELP! BUY THIS BOOK!!!
HE IS A GREAT SPEAKER, AS WELL!!!

If you already understand basic options, then this book will add the finishing touches to get to another profitable and consistent level. Ignore the bio and personal commentary and skip to methodology or "how too." There is substance to the work if you can read between the lines.

The main thesis is like poker there are "tells" as to when the stock will move and to what price. The market specialist or maker is unfettered in making a 2 sided market, so must hedge in the underlying stock or options markets. This explains the basis for the tell and has been DRJ's secret. Not a bad indicator as this explains the underlying movements.

I bought this book and shall return it. All hype how great he is. Wow what an ego this guy has. Only claim to fame is that he played "B" grade football. Chicago Tribune told the truth about this guy.

As for options, he hardly trades any more. PR of Jon Najarian is a full time job and strutting around in his trading jacket while others do the work. I heard this guy speak at a trade show. Lousy.

I shall stick with the option masters McMillan and Fontanills not a wanna bee like Dr. J (he wanted to be his Dad who is a Doctor but could not get through Medical School)

Why is it that some people feel the need to be famous at any cost? Anyone who has followed the "exploits" of DRJ has watched his football career grow and grow over time. In four or five more books he'll be in Canton. He is a DPM in a number of stocks, he was on the board of directors of the CBOE, but check the Chicago Tribune for the circumstances around his exit from that post. Check the Chicago Sun-Times for their take on his "inside information" when he tipped the world to a public meeting of the NYSE and CBOE through 1010wallstreet.com. Better to leave the technical writing to writers, he should stick to fiction, like his resume.

Very disappointing book. He talks the talk but can't walk the walk of communicating his ideas into print.

After reading some of the great books on the subject MacMillan, Natenburg and Fontanills this book had really nothing to offer.

The book drifts without going anywhere. It is more of a self fulfilling how great I am book rather than offering anything to the student of trading. Although he trades on the floor he does not translate that into how the off floor trader gets the edge.

I appears Mr. Najarian is more interested in becoming a "personality" than providing any useful insight into how to trade options.

I intend to return my book to Amazon it is of no use to me.

I am owner/manager of a luxury car dealership in Northern California. I`ve seen the dot com mania send stocks to the moon, only to crash back down to earth. One week I`m selling Porsches to a paper millionaire, the next month I`m buying the car back from repo. Because of that experience, I`m a grind it out sort of investor, not day trader. Since I invest for the long-term, I didn`t know if options were for me, but Jon Najarian`s book changed my mind. I use several of the tactics outlined in the book "How I Trade Options" and am happy to say they`ve worked just as advertised. I especially liked the chapter on LEAPS and now almost exclusively invest with these securities. I can`t watch my portfolio throughout the day, but LEAPs help me cut my exposure to things I didn`t anticipate, while leaving me exposed to the upside. I think anyone that seriously wants to limit risk should read this book and use these strategies.

I am halfway through this book and I find it a thoroughly enjoyable and informative book on the topic. I sometimes look forward to getting back to it. I don't find his reference to his own football career or to his own success objectionable at all. On the contrary, it's enjoyable. He brings sometimes complex and therefore, perhaps threatening, concepts down to the basic level and explains them quite thorougly. All in all, I'm cool with the book and the author. I'm glad that I purchased it.
Hope this helps.