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The Rookie's Guide to Options: The Beginner's Handbook of Trading Equity Options Hardcover – February 1, 2008
Based on seven years of reporting from over a dozen countries, writer Tom Wainwright takes you on an extraordinary journey into the business of being a drug lord. Learn more.
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More About the Author
Since then he has been an educator. He has published three books for the option beginner and teaches individual investors to use options to enhance profits and reduce risk. He offers individual and group seminars and operates Options for Rookies (http://www.mdwoptions.com/Premium/home-page/), a low-cost service that provides a true options education.
Born in Brooklyn, New York, he currently resides in Evanston, Il with his life partner Penny.
He received a BS degree from Brooklyn College and a PhD from Northwestern University.
Top Customer Reviews
The trick is understanding options and understanding risk management. If you trade options WITHOUT understanding them, and WITHOUT any risk management implementation, then by default you are a risky gambler. You will be out of money before you know what hit you.
The option world has its own lingo. And there are myriad strategies to sift through before determining which one(s) suit your risk/reward desires. Placing the actual trade orders with your broker requires a thorough understanding and fluency of the lingo, as well as a confident understanding of the strategy you've chosen.
The good news is that this book will actually TEACH you what you need to know to be a conservative income generator with options. I can assure you it is the ONLY book that TEACHES this. I own all the major books on options that have been released in the last five years and this one is by far the best and most practical. And long overdue.
To me, in order for an author to teach options trading, he or she must provide the real world philosophy behind a strategy, real world examples, real world gotchas, real world "how", and most importantly, real world "why". Of all the books I own, this one provides the total package. The others do a good job of perhaps the philosophy and the how, but totally lack the rest. In short, no book until this one teaches the complete knowledge one requires to be successful at option trading for income.Read more ›
The Rookies Guide to Options takes the ideas that were previously introduced and takes them to the next level. Concepts are introduced and explained in a way that makes them easy to understand and completely transparent. You're never left wondering - but what would happen if?
It's a master class in options from a truly brilliant teacher.
I can't recommend this book enough
Mark writes in a style that is friendly, easy to read, but deceptively informative. You don't feel like you're being overwhelmed with theory, but when you look back, you find that you've actually picked up more than you thought. He demonstrates the surprising equivalence, for example, of covered call writing, which many people are comfortable doing, and selling a naked put, which sounds riskier but is in fact identical.
This book is full of really useful and practical information, and I believe anyone actively trading options would benefit from studying this book thoroughly. It's not just rookies who will gain from Mark's shared experiences. BTW, Mark maintains a web site and blog where he continues to share his knowledge. He is also most generous with his time, answering numerous questions from his readers.
Mark's writing style is sensible, easy to understand, obsessively objective and thought provoking. He has a unique way of presenting obvious but frightfully neglected facts such as an admission that, he personally; does not possess the "skills" required to determine in advance where the market is going. Of course nobody does but he'll let you admit that to yourself... if you're so inclined...
It's a book for absolute neophytes up through experienced traders but the "rookie" title makes me chuckle as I find myself explaining things I've learned to peers (full-time professional traders).
Read this book (then read the chapter on equivalences- again). You may lose all desire to trade or own stock (as I have) or learn to effectively protect your investments, or you may decide that options aren't for you. Either way-- you'll gain an understanding sure to advance your probability of success in the market.
Most Recent Customer Reviews
OK, nothing detailed, but good intro.... buy used save, not worth full price.... OK, nothing detailed, but good intro.... buy used save, not worth full price....Published 22 months ago by Ron B.
If you are intermediate to advanced trader you may want to skip this book. But for a person who is looking for a book that would help them get started in options this is a great... Read morePublished on January 13, 2014 by Amazon Customer