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Wall Street Money Machine, Volume 1 Hardcover – September 1, 1999
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Top Customer Reviews
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.
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.Read more ›
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.
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?
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.Read more ›
Most Recent Customer Reviews
This book is a good place to start if you know nothing about investing. It clearly explains options trading and stock trading. Read morePublished 21 months ago by Mom in OK
If you truly want to make lots of money on a steady basis in the stock market, this is still the best book to help you do that.Published 24 months ago by Joe
I got this book because I would like to give the stocks a try, and this book gives great advices, especially for a starter. The price is great, Overall, I got nothing to complain.Published on February 15, 2014 by panpanlan
This was a brand new hardback book with a perfect dust cover. Excellent price, can not do better than this.Published on September 21, 2013 by Jeffrey Stark
Great book for those looking to start out with the stock market! It has basic formulas and fundamentals that will always apply.Published on September 20, 2013 by Kelly