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Breakthrough: A Consistent Daily Options Trading Strategy For Volatile Stocks by [O'Brien, Kevin Michael]
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Breakthrough: A Consistent Daily Options Trading Strategy For Volatile Stocks Kindle Edition

4.0 out of 5 stars 41 customer reviews

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Length: 71 pages Word Wise: Enabled Enhanced Typesetting: Enabled
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Product Details

  • File Size: 874 KB
  • Print Length: 71 pages
  • Publisher: Kevin M. O'Brien (January 17, 2012)
  • Publication Date: January 17, 2012
  • Sold by: Amazon Digital Services LLC
  • Language: English
  • ASIN: B006Z4HSRI
  • Text-to-Speech: Enabled
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  • Word Wise: Enabled
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  • Enhanced Typesetting: Enabled
  • Amazon Best Sellers Rank: #317,835 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Top Customer Reviews

Format: Kindle Edition Verified Purchase
OK, I've used this strategy for about two weeks using AEM. It gets me in and out using options for 10 to 70 cent movements up and down. The trades I've made have all proven profitable - eight for eight. However, the author is not kidding when he asks, "Are you willing not to look at the trade after you've closed the position?" because I've left a lot on the table, which the system can't predict (how long and how far will the stock stay overbought/oversold?) but generally the movement only lasts 5 to 10 minutes longer than when you first get your call to action (unfortunately that might mean an additional 50 cent movement that you missed). Without this system, all you got is price and volume to go on, this one says, no, no, no, the position you want to initiate is the opposite of what you are doing, or you are at the top or the bottom of this move.

Ironically, the amount of money I have not lost, due to forgoing trades which the system said "don't do." far exceeds the amount of money I have made. So it is an excellent cash preservation system too.

Many of the trades may last as few as 40 seconds, others will go on for hours. During that time, you would be a fool not to be anchored to your screen, so it really is like work and requires constant monitoring. 2 or 3 trades a day is about max for my sanity. Yesterday I was long calls in the morning and short them in the afternoon. Both positions proved profitable (though I closed out both too early). This system lets you take advantage of the $1.50 moves the underlying makes on a daily basis and lets you capture some of that movement. Easy to learn, easy to use. Best System I have ever used!!!!

Update Aug 06 2012: I am now 9 for 9 trades.
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This book is well written, and is a welcome change from all of the overused charts,patterns, Greeks, and other shopworn trivia, which usually only confuses, and does not help, a non-professional trader to successfully day trade options. Kevin's advice works a large percentage of the time. If only he had spent a little more time advising the reader what to do when the market does not perform as expected, the book would easily rate 5 stars.

Basically, he advises the trader-reader to buy calls or puts when the market appears to be oversold, or overbought according to the five indicators he describes. In theory, such oversold or overbought conditions are supposed to constitute reversal signals, so that the options can be "bought low and sold high" for a profit. Unfortunately, however, they don't always work out that way. An oversold condition, for example, confirmed by all of Kevin's five indicators, can continue to get even more oversold after the option is purchased, thus leading to ever greater losses. If a trader waits until the reversal has started to occur, the cost of the option can get too expensive for a profitable resale. Since Kevin advises against using stop-losses, the loss on the trade can be exacerbated as the price keeps deteriorating.

Although Kevin advises against holding trades overnight in order to prevent an adverse gap, he states that sometimes he will hold overnight, but does not furnish any other advise regarding his criteria for making such decision, or for adjusting the resale price the next day. What if the option price continues to deteriorate in succeeding days, or after a gap? When should one cut his losses and run? Should the trade be "adjusted" in some fashion?
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This is a good book. The author shares his complete strategy.

This strategy does require a lot of patience. It's definitely not for everyone. I personally tried it and determined it's not for me but I think if you like to sit and stare at charts all day and wait for an exact moment to buy, you can be successful with this method.
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I found that this book was very helpful in so many ways. The book itself was very easy reading. I read it in one sitting. The author explained his strategy easy to understand. I have now used this strategy personally and am 3 for 3 in my trades. I really like how he explained that the bands and the numbers have to match up to make a trade, and to not be impatient or greedy. This strategy works and is a fine strategy, because you can help and work with other option traders and achieve the same goals. I am hoping this author publishes another book in the future. I would buy the next book if and when one is published. The ten dollars I spent was well worth it, and I would do it again.
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I highly recommend this book to anyone who is seriously interested in options trading as a source of income. The book is easy to understand for the novice and will provide new insights to experienced options traders. There is nothing like this strategy when it comes to making consistent profit and identifying entry points for trades. The simplicity and rigor of the strategy makes it truly unique.

I bought the book a few months ago and have consistently been applying the method to my trading activities. The strategy has exceeded my expectations in providing a steady income stream.

Knowing what I know now, I would have been willing to pay a lot more for this book.
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