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Wall Street Money Machine, Volume 1 Hardcover – September 1, 1999


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Product Details

  • Hardcover: 285 pages
  • Publisher: Lighthouse (September 1, 1999)
  • Language: English
  • ISBN-10: 1892008602
  • ISBN-13: 978-1892008602
  • Product Dimensions: 9.6 x 6.5 x 1.1 inches
  • Shipping Weight: 1.3 pounds
  • Average Customer Review: 3.8 out of 5 stars  See all reviews (110 customer reviews)
  • Amazon Best Sellers Rank: #431,087 in Books (See Top 100 in Books)

Editorial Reviews

From the Back Cover

The book that changed the way America bought and sold stocks! Hailed by beginners and experts alike! All the great information you loved in the classic edition: Aggressive strategies for making cash flow in the stock market-Rolling Stocks, Covered Calls, Stock Splits and More! Inside secrets-Find out the inside secrets to stock options and turn them into a cash flow machine. Proxy Investing-Make money on stocks you can't afford (yet!). Combined strategies-Rolling options, double dipping, "overdrive," and more. Protect your assets-Learn the strategies so you can keep more of what you make. PLUS all new: Charts and examples. Even more money making ideas! Covered calls even more in-depth! Options explored and explained like never before!

Customer Reviews

And you know what they say about too good to be true.
Dave Edwards
While there are a number investment strategies in this book, it really doesn't show you how to find the stocks and options which would generate profits.
Skysurfer
Wall Street Money Machine volume 1 is the single best book available on how to cash flow the stock market.
JC

Most Helpful Customer Reviews

109 of 113 people found the following review helpful By carl matthews on March 14, 2002
Format: Hardcover
Quite frankly, I expected far more bashing and 1 stars than what appears here.
Wade takes on the establishment and steps on some Big Toes on Wall Street. Mr Cook tells it like it is and shakes up the industry---and that is GREAT!
Buy this book and use the strategies. They work. Forget the naysayers who are trying to use your ignorance for their bliss and don't want Wades methods known.
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61 of 61 people found the following review helpful By Bill Oliver on December 2, 2002
Format: Hardcover
Wall Street Money Machine Vol 1 is an excellent book to teach you how to cash flow the market....and from someone who knows---WADE COOK!I noticed that Wade's brokerage account showed a 22% gain this year.Perhaps that explains why the 1 star reviews have suddenly dissappeared.Looks like Wade has shut his detractors up once and for all. Way to go Wade!
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94 of 98 people found the following review helpful By Laurence A. Canter on January 21, 2000
Format: Hardcover
The pluses of this book have been reviewed elsewhere. If you buy only one book on how to do short-term investing, this should be it. The strategies, in particular rolling stock and covered calls are very sound and if practiced carefully should make money for you 80% of the time. However, you must be careful because he makes it sound easier than it really is. Interpretting charts is much more complicated than simply looking for a "rolling" pattern. Stocks usually drop for a reason, and to think they can't drop any further is a recipe for failure. His strategies on stock splits are not necessarily sound either. In the short term, many stocks that are splitting do drop significantly in price. A split by itself is not sufficient reason to buy unless you are in it for the long term, and is a particularly dangerous reason to buy options which will likely expire before the stock has benefited from the split.
He is also wrong that the "premium" for options on low cost stocks is pretty much the same as in more expensive stocks. Don't believe me? Check out the prices of call options on any high priced internet stock. You could easily be paying a 15 -20 dollar premium on options just a month out.
Most disappointing on this "revised" edition is that Mr. Cook seems to be living in the past as to how stocks (and options) are bought and sold. On-line trading is hardly talked about - he assumes you will always be "calling your broker" and relying on him/her for prices. Great way to always get into a position late and at a bad price. And, in particular for NASDAQ stocks, why would you buy at market instead of using limit orders? A market order carries huge risks, particularly in fast moving stocks.
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83 of 86 people found the following review helpful By A Customer on December 31, 1999
Format: Hardcover
Okay, I read the original edition in 1996 or 1997 and it started me down the trail of options trading. Thank you Wade! I prefer to write covered calls, although I do all types of options. The covered calls are a money machine. If you have just a little capital and grasp the concept you can retire in 5 years or less doing covered calls on a stock that splits often and appreciates. My personal favorite is CMGI. Covered calls are SAFER THAN JUST OWNING THE STOCK BY ITSELF! It will generate you monthly income for the rest of your life.
Consider this book a motivational guide and not the last word on option trading. I was so fired up after reading his book that I couldn't wait to start accumulating stock to write covered calls.
If this book interests you then try "Options as a Strategic Investment" by Larry McMillan for the more technical aspects of option trading. This is the bible for options traders.
Some of these negative reviewers have never read the book or traded a single option I suspect. The book is not designed to teach you how to "pick stocks" or to never have a losing trade. People lose money in options because they are greedy. That is always the case when I lose.
I took the time to write a review just because I appreciate Wade introducing me to options trading that was easy to understand and will make me rich in a few years. Anyway, read the book. It will change your investing life.
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94 of 98 people found the following review helpful By A Customer on April 5, 2002
Format: Hardcover
Have you ever had one of those "AHA" moments, like being hit with a thunderbolt and you say; "So this is how it's done!"That is exactly what happened to me when I read this fantastic book by Wade Cook. AHA! Violla! Walla! Cha-Cha-Change! Thanks for getting me on the right path to making money Wade. This family will be forever grateful.
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61 of 62 people found the following review helpful By A Customer on May 31, 2003
Format: Hardcover
I strongly disagree with the reviewer who posted the review titled; "Working without a strategy" and went on to say that Wade Cooks strategies only work in a rampaging bull market.
The techniques work in any market, if you really read the book instead of just the sample pages here on the internet you would know that.
Also if you were a actual trader, you would know that as well.
Did you even look at this book?
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75 of 78 people found the following review helpful By Tom Bixby on December 20, 2002
Format: Hardcover
That is, this is a book and formercial is short for informational. Wall Street Money Machine is a great book and is very informational. So on on that I will agree with the reviewer from Houston.
Do Wades strategies work? I have been following Wade since 1999 and I have done incredibly well. Just today, I made a nice 43% profit on Jet Blue as a post split play and on news.
I've had 4000% days too. I like rolling stocks, stock splits, options on stocks splits and covered calls.
Have I lost money? Yes. That said, I blame myself. In every case it was b ecause I didn't use the formulas that Wade teaches.
Are Wades workshops expensive? It all depends on how you evaluate price and cost. Price is what you pay for something. Cost is what you end up spending. I went to the workshop and made enough to pay for the workshop, all travel expences and lodging during the workshop. In my opinion Wades workshops are not expensive, in fact, for me it was free plus I made a profit.
Can you make money with the book alone? Yes. That is how I started. The only caveat is that you follow what Wade teaches.
1) Use only money you can lose
2) Use only a small amount of money at first
3) Paper trade before using real money
4) Know your exit
5) Use limit orders
6) Use stop losses
7) Don't get greedy
In addition to Wall Street Money Machine Volume 1, I recommend Rolling Stocks, Stock Split secrets then move on to Wall Street Money Machine Vol. 2 and Vol 4.
If a workshop is close to you, I strongly encourage you to go. It's worth it.
DISCLAIMER: I am not now npr ever have been an employee for Wade Cook. Just someone who appreciates someone like Wade Cook for sharing insider secrets on how to cash flow the stock market.
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