31 of 32 people found the following review helpful
Best options book for today's volatile markets,
This review is from: Volatile Markets Made Easy: Trading Stocks and Options for Increased Profits (Hardcover)
Guy Cohen has written an incredibly good book concerning today's volatile markets. Throughout the book he gives exact examples of what option strategy to use to maximize your profit and minimize your risk. He gives real insight into the psychology of the markets and how that interplays your timing of your entry and exit of a trade.
The book not only explains exactly how to use well-known volatility strategies like straddles and strangles, but also compares them in detail to ratio-backspreads where he shows how risk can be even better mitigated. That is one of the unique areas of this book and one of the most valuable.
Another thing I liked is the author's intimate understanding of your emotions when a trade is on, and how to manage your trade practically so you retain your sanity. He explains that the biggest losses tend to come where a trader doesn't grab the opportunity to take a profit when it presents itself. How true that is! This forms the essence of Cohen's trading plan to take some profits off at a conservative initial profit target, but allow the remainder to trail any remaining profitable movement for a potential "windfall" gain. In trending markets this trading plan is golden. In rangebound markets the trading plan will keep you out of too much trouble.
I recommend this book for the beginners as well as the seasoned traders. Volatile Markets Made Easy will certainly help you make money and is a must read book for these volatile crazy markets.