Options, Futures and Other Derivatives (6th Edition)

Options, Futures and Other Derivatives (6th Edition)
Average customer rating:

Good

The greatest concise reference for the fundamentals of financial engineering

Solid textbook

Good Book Humayun R Ali

A PhD student's review

Options, Futures and Other Derivatives (6th Edition)
John C. Hull
Manufacturer: Prentice Hall
ProductGroup: Book
Binding: Hardcover

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Similar Items:

Heard on the Street: Quantitative Questions from Wall Street Job Interviews

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Fixed Income Securities: Tools for Today's Markets, Second Edition

ASIN: 0131499084

Book Description

Designed to bridge the gap between theory and practice, this successful book is regarded as "the bible" in trading rooms throughout the world. The books covers both derivatives markets and risk management, including credit risk and credit derivatives; forward, futures, and swaps; insurance, weather, and energy derivatives; and more. For options traders, options analysts, risk managers, swaps traders, financial engineers, and corporate treasurers.

Customer Reviews:

Good.......2007-09-14

The book was in great condition. It took only five days to get the book.

The greatest concise reference for the fundamentals of financial engineering.......2007-05-30

Whilst this text was not a recommended text for my Australian investments course, it was more useful than any other reference material prescribed by my professional body and proved more than its value over the space of just a few weeks. I encourage especially those that may be sitting on the fence, thinking it is a lot of money (because it is), that this text is worth every cent if you are in need of the best derivatives pricing book that exists today - this is it.

Solid textbook.......2007-05-08

This textbook has been very helpful for my financial instruments class (MBA level). Good examples and explanation of formulas.

Good Book Humayun R Ali.......2007-03-01

I am in the first few chapters and finding the book easier to read than other financial books. I like the examples to explain the purpose of futures and options. The first few chapters introduce you to futures and options then gets into more advanced topics. I also got the student study guide. There are certain books that are well worth the price, this is one of them. It is not a "get rich quick" guide, but rather a book designed to give the reader an in depth understanding.

A PhD student's review.......2007-02-07

Like all too many PhD students trying to push their way into the already overcrowded quant. finance job-space, I too had heard that Hull is the "bible" of quant. finance, and it should be the first book you should read.

WRONG. Dead wrong. Hull should be the LAST book you should read, and I mean it literally. That is, you definitely SHOULD read Hull, but after reading some good quant. finance books and getting some intuition behind what is going on.

The good parts of Hull are:

1) breadth of topics covered - there is no other single book that covers the range of topics that Hull does.
2) some amount of feel of real markets that it gives (all this means is that it describes the mechanics of markets).

For someone just starting out learning quant. finance, however, the above two become big stumbling blocks. The breadth of topics means that several topics are covered in a, and I am being kind, patchy manner. In fact, you can go through quite a lot of Mr. Hull's babble about "worlds" (something he uses interchangeably for "measure") without understanding whatever the heck a risk-neutral measure is. There are risk-neutral worlds, forward-neutral worlds, stock-worlds...and you don't know the underlying simple, simple principle, so you just keep following him, and he goes on and on...

Another example - Black's formula in fixed income products - he just goes on and on about its applications to this that and the other (bond options, swaptions...), discusses the "validity of Black's formula" (which supposedly tells you that it is more general that it is usually believed to be, but tells you neither how general it is, nor how general it is believed to be)...All this without giving you the simple, one sentence reasoning behind the Black formula.

Time and again in the book there are formulae that seem to be just pulled out of thin air. There are better compilations of formulae (Haug, for example), so I don't quite understand what the idea is. You keep wondering HOW a valuation formula came about, because you want to know what assumptions lie behind that valuation, and how to change it if some of those assumptions change...But as frequently as not, you will be left turning pages in the vain hope of trying to find out.

Add to that a poorly composed index, ill defined terms sprinkled all over the book, hand-waving galore, and it equates to hours of frustration. Just understanding clearly what is being talked about takes a lot of page turning, searching for definitions and so on.

And don't go by people who look down folks wanting to be precise. I am not talking about any ivory tower precision - I am talking about real, practical precision. The precision you need in a book to be able to answer a non-rote question properly. That precision is not there in most of Hull.

The Bible of Options Strategies: The Definitive Guide for Practical Trading Strategies

Average customer rating:

Truly the bible of all bibles!
Great reference, full of errors
Technical Alanlysis "Bible"
good for beginner to novice
Good referrence book

The Bible of Options Strategies: The Definitive Guide for Practical Trading Strategies
Guy Cohen
Manufacturer: FT Press
ProductGroup: Book
Binding: Hardcover

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Similar Items:

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Options as a Strategic Investment
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The Option Trader Handbook: Strategies and Trade Adjustments (Wiley Trading)

ASIN: 0131710664

Download Description

"""Guy Cohen is the master when it comes to taming the complexities of options. From buying calls and puts to iron butterflies and condors, Guy explains these strategies in a clear and concise manner that options traders of any level can understand. His chapter on options and taxes is especially welcomed (and needed). The Bible of Options Strategies is a straightforward, easy-to-use reference work that should occupy a space on any options trader's bookshelf."" ¿Bernie Schaeffer, Chairman and CEO, Schaeffer's Investment Research, Inc.

""The author delivers clarity, insight and perception making learning about options a joy, and practicing the art of making money that much easier: truly a bible from a guru."" ¿Alpesh B. Patel, Author and Financial Times Columnist

""Guy Cohen truly makes learning about options easy in this fact-filled guide. Bullet points make for a quick and enlightened read, getting to the heart of what you really need to know about each options strategy. This book is a must for any serious trader's library."" ¿Price Headley, Founder, BigTrends.com

Pick the right options strategies...implement them step-by-step...maximize your profits!

Introducing today's first and only comprehensive reference to contemporary options trading!

OptionEasy creator Guy Cohen identifies today's popular strategies...and tells you exactly how and when to use each one and what hazards to look out for! It's all here....

Basic Strategies including: Buying and shorting shares, calls, and puts. I
ncome Strategies including: Covered Call, Naked Put, Bull Put Spread, Bear Call Spread, Long Iron Butterfly, Long Iron Condor, Calendar Call, Diagonal Call...
Vertical Spreads including: Bull Call Spread, Bull Put Spread, Bear Call Spread, Bear Put Spread, Ladders...
Volatility Strategies including: Straddle, Strangle, Guts, Short Butterflies, Short Condors...
Sideways Strategies including: Short Straddle, Short Strangle, Short Guts, Long Butterflies, Long Condors...
Leveraged Strategies including: Call Ratio Backspread, Put Ratio Backspread, Ratio Spreads...
Synthetic Strategies including: Collar, Synthetic Call, Synthetic Put, Synthetic Straddles, Synthetic Futures, Combos, Box Spread...
...and many more strategies...

Plus essential tax-saving information, and more!

No other book presents this much authoritative, current information on options trading strategies
Covers all of today's best income, volatility, leveraged, synthetic, and sideways market strategies
Discover why each strategy works, when it's appropriate, and how to use it¿step by step
Includes a full chapter on tax issues associated with options strategies
By Guy Cohen, whose OptionEasy application has helped thousands of traders achieve breakthrough results!

The Bible of Options Strategies is the definitive reference to contemporary options trading: the one book you need by your side whenever you trade.

Options expert Guy Cohen systematically presents today's most effective strategies for trading options: how and why they work, when they're appropriate, when they're inappropriate, and how to use each one responsibly and with confidence. The only reference of its kind, this book will help you identify and implement the optimal strategy for every opportunity, trading environment, and goal."

Customer Reviews:

Truly the bible of all bibles!.......2007-09-30

I really enjoyed this book and continue to do so. As others have commented, it's not a cover-to-cover type of book, but I can reference any strategy so easily and get the salient information I need at the flick of a page.

I've also got the author's other book (Options Made Easy) and there's something different about the way he explains the subject of options that I previously found much more difficult and now find remarkably easy. Great book.

Great reference, full of errors.......2007-09-15

This book is an excellent reference book for options traders, novice and experts. It describes in great detail most of the strategies for trading options. I like the structure and the organization of the book. It helps easily locate a stragety based on several criteria, like your trading expertice or your perception of where the underlying stock is going.

I'm dissapointed at the amount of errors in the book. I've only read 2 chapters so far and have found, not only mispelled words, but errors related to the description of the strategy, risk and reward calculations and inverted names (call instead of put, for example).

If not for the errors, I would have given 5 stars to the book.

Technical Alanlysis "Bible".......2007-09-11

A large volume that covers just about anything you want to know about charting. I was most interested in Elliott Wave info and it has a good section about EW. For the options trader, this is the book to study.

good for beginner to novice.......2007-09-03

I meet Guy during SF Money Show,it was a good experience.

One thing that i notice from most of options book, they are all talking the same thing, mostly strategy description, including this book. What i want from this book is more explanation towards when and how to the strategy should be applied when fundamental, TA and sentiment comes to picture.

Good referrence book.......2007-08-23

I did learn a lot of reading this book. I have read a number of options book but what I liked the most about this book was the method that it used to cover the option strategies by grouping them. Also by covering the variables for each option strategy in the same manner.

I use the data in this book in another manner as well. Often different groups UBS etc ask me to invest in some product that they have developed. I graph the the possible results and then compare that graph to the graphs at the back of this book to find the closest option strategy. I then read up on that strategy establishing where it works best, worst etc. This often gives me some insight as to where if any the product might fit into my investemnt portfolio. This is not the only selection criteria but it helps.

Tools and Tactics for the Master DayTrader: Battle-Tested Techniques for Day, Swing, and Position Traders

Average customer rating:

THE best book on trading I have ever read.
Interesting book with lack in details by very self-confident authors
Seeds of Wisdom!
Nothing new
FIVE STARS!!!

Tools and Tactics for the Master DayTrader: Battle-Tested Techniques for Day, Swing, and Position Traders
Oliver Velez , and Greg Capra
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Hardcover

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ASIN: 0071360530

Book Description

Over 30,000 online investors daily flock to pristine.com, the top-rated Website run by day trading legends Oliver Velez and Greg Capra, for up-to-the-minute strategies and market commentaries. In Tools and Tactics for the Master Day Trader, Velez and Capra revisit and completely update over 100 of their daily commentaries from the past four years, with new material explaining what worked, what didn't, and why.

This no-nonsense, easy read, meant to be referenced by traders every trading day, covers everything from potent trading strategies to intuitive insights on psychology and discipline. Proving once again that the best teacher is experience, Tools and Tactics for the Master Day Trader will help any trader log on with the technical skills, market knowledge, and confidence they need to capture more winning trades, and reap new profits.

Customer Reviews:

THE best book on trading I have ever read........2007-09-09

I had to get this book after reading such a mix of reviews. I was really curious how it would turn out since reviewers were either raving about it or trashing it.

After reading the 1st half of this book I was shocked to say the least. The first half of this book is worth more than all of the books I have read on trading combined. If someone trashes this book then they are either very new to trading and don't understand the points being made in this book(which I can understand because you have to get some experience under your belt to really appreciate what is being said in this book) or they are looking for a quick strategy they can read in 5 minutes and start making money. For one thing, that's never going to happen anyway.

The trading strategies in this book are very basic, so for newbies that part of the book has some good info. I was hoping for a little more advanced analysis of trading techniques, but I really didn't need that anyway. The knowledge and wisdom in the first half of this book is going to take my trading to moon.

For the newbies who didn't like this book, get a couple years experience under your belts then go back to this book and re-read the 1st half. I guarantee you, you will want to come back here and write a positive review.

Interesting book with lack in details by very self-confident authors.......2007-06-09

When I started reading the book by Oliver Velez and Greg Capra: "Tools and Tactics for the Master Day Trader", I thought it was one of the better books on day trading. It starts out with the importance of discipline, and the lessons to be learnt from losses. It also outlines the concept that you don't buy from the market, but there is always another person on the other side of the trade that has exactly the opposite market expectation as you.

Then come four chapters with lists of rules: 7 deadly sins, 12 trading laws of success, 15 things every trader should know, and 10 lessons for the master trader. Altogether 44 rules, which don't seem to be in any systematic order. It looks like the authors were brainstorming to come up with as many rules as they could think of, and then divided them up among the four chapters. Some rules contradict one another, some important rules are next to irrelevant ones etc. Also the "Seed of Wisdom" does not help to sum up the rules because it often is not related to the part that it is supposed to summarize.

In Chapter 10 and 11 the authors talk about tools and start out by explaining things as basic as a candle stick or support and resistance. Then they dedicate two chapters to Order Systems and Level II data, and it takes until page 293 when they finally talk about trading techniques.

After having talked redundantly about general things for three quarters of the book, the authors give their ideas of entry, stop and exit techniques. What I missed most in this part is the lack of exact trading rules. Everything is expressed vaguely (e.g. p.219 "you can also opt to keep the break-even stop. This is a matter of choice." or p.322 "Sell at least half your stock if and when the stock breaks below the 5-minute low. ... These are just guidelines. We don't want to be stupid. ... Many traders will be best served selling the whole lot at this point."). This is exactly the vagueness you can't afford as a day trader. I was also disappointed that there was so little variety in the trade setups (just three entry techniques).

So my hope was high that in chapter 17 "How to put it all together" there would finally be concrete entry and exit descriptions. Instead, the authors just describe common chart formations like any other book on technical analysis (and do a worse job, too).

Throughout the book I noted an arrogant tone (p. 317: "Let's assume a master trader, let's call him Mr. Velez."). The authors speak about master traders, as if they were some kind of rock stars. No matter, how successful you are, if you quit being humble, the market can easily take everything away from you.

I am giving the book three stars because it does cover important topics for day traders like discipline, and learning from your mistakes. If you want to read a more effective book, however, I recommend the one by John F. Carter "Mastering the Trade".

Seeds of Wisdom!.......2007-05-18

Tools and Tactics for the Master DayTrader: Battle-Tested Techniques for Day, Swing, and Position Traders.

Velez and Capra give me the impression they have traded before and are not just book writer's. You can learn a few pointer's from this book whether you are a rookie or have been trading a while. It covers Candlesticks,Moving Averages, Fibs, Volume and drawing a few trendlines on the charts intraday and daily charts.
It does not go into some of the mathematical stock indicators that some trader's think it might be the "Holy Grail". Sorry, there is no Holy Grail in the stock market you better look elsewhere like yourself. The only "Holy Grail" you will ever find trading stocks is yourself there is no quick fixes to learn to trade stocks it all takes lots of time and practice.
Its to look and observe what a chart's footprints tell you with some seeds of wisdom.
I see so many negative reviews here about this books. I am starting to wonder whether those reader's have ever traded stocks.
I have traded full-time for years and I can tell you they must be all novice trader's hoping that a book might have all the answer's for them and their future. It would help them if they read this book a few times until it sinks in their minds.

Nothing new.......2007-04-18

nothing new, nothing exciting. Everything can be found in books that are half the price. Save your money.

FIVE STARS!!!.......2007-02-27

I would definitely give this book five stars. I really learned alot from it. If you gave it a bad review you either need to go back and read the book again or just skimmed through the book.

and to the person who sid that he "Heard" that they don't actually trade they are wrong and I thought everyone knew not always to believe what they hear. But hey, some people just believe things more easily than others.
and you can't even RATE this book one star because YOU HAVEN'T ACTUALLY READ IT!!!
You skimmed through the book and rate it one star??? WOW. that's all I have to say: wow. I'm not even going to say anything else. and people don't listen to all of those bad revievs out there. It really was a great book and is worth the money. (and so is his newer book)

and to the person who said: "This book TOTALLY rocked. I read it alot because it was so awesome"

YOU TOTTALY ROCK TOO! LOL!

Option Volatility & Pricing: Advanced Trading Strategies and Techniques

Average customer rating:

Amazing book!!
A must read
Traders book.
Deep journey on options investement strategies
Dry, but required reading!

Option Volatility & Pricing: Advanced Trading Strategies and Techniques
Sheldon Natenberg
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Hardcover

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Similar Items:

Options as a Strategic Investment
The Bible of Options Strategies: The Definitive Guide for Practical Trading Strategies
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Options Made Easy: Your Guide to Profitable Trading (2nd Edition)
Dynamic Hedging: Managing Vanilla and Exotic Options (Wiley Finance)

ASIN: 155738486X

Book Description

One of the most widely read books among active option traders around the world, Option Volatility & Pricing has been completely updated to reflect the most current developments and trends in option products and trading strategies.

Featuring:

Pricing models
Volatility considerations
Basic and advanced trading strategies
Risk management techniques
And more!

Written in a clear, easy-to-understand fashion, Option Volatility & Pricing points out the key concepts essential to successful trading. Drawing on his experience as a professional trader, author Sheldon Natenberg examines both the theory and reality of option trading. He presents the foundations of option theory explaining how this theory can be used to identify and exploit trading opportunities. Option Volatility & Pricing teaches you to use a wide variety of trading strategies and shows you how to select the strategy that best fits your view of market conditions and individual risk tolerance.

New sections include:

Expanded coverage of stock option
Strategies for stock index futures and options
A broader, more in-depth discussion volatility
Analysis of volatility skews
Intermarket spreading with options

Customer Reviews:

Amazing book!!.......2007-09-19

I heard that it's sort of understood that this book is the best well-wriiten and well-descriptive book. It would be a good choice for anyone who is interested in the Future and Option's market.

A must read.......2007-07-07

If you are interested in Options you cannot miss this one. Once you've read that book, everything else you could read about options will look simple and too obvious. You'll also keep that book close to you and review some of its chapters on a regular basis.

Traders book........2007-05-14

I have many option and derivative books. This book concentrates on trading and not the calculus behind the models. I found it an easier book to follow.

Deep journey on options investement strategies.......2007-05-07

Excellent reference book for all serious traders who intend to invest in a deep conscious ways with options.

Dry, but required reading!.......2007-04-09

If you want to learn about volatility, this is the book for you. This is more advanced than a basic volatility book, so beginners and advanced students of volatility will benefit.

Also, if you are actively trading options, this book is often quoted, so you may want to get it just so that you could follow what people are saying.

Trading for a Living: Psychology, Trading Tactics, Money Management

Average customer rating:

Excellent Place to Begin Your Trading, Covers it all.
Forget this one
One of the best book on trading I've read.
Learn to make money in the market
Best trading book I have read

Trading for a Living: Psychology, Trading Tactics, Money Management
Alexander Elder
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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Study Guide for Trading for a Living: Psychology, Trading Tactics, Money Management
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Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude
Entries & Exits: Visits to 16 Trading Rooms (Wiley Trading)

ASIN: 0471592242

Book Description

Trading for a Living Successful trading is based on three M's: Mind, Method, and Money. Trading for a Living helps you master all of those three areas:

How to become a cool, calm, and collected trader
How to profit from reading the behavior of the market crowd
How to use a computer to find good trades
How to develop a powerful trading system
How to find the trades with the best odds of success
How to find entry and exit points, set stops, and take profits

Trading for a Living helps you discipline your Mind, shows you the Methods for trading the markets, and shows you how to manage Money in your trading accounts so that no string of losses can kick you out of the game. To help you profit even more from the ideas in Trading for a Living, look for the companion volume—Study Guide for Trading for a Living. It asks over 200 multiple-choice questions, with answers and 11 rating scales for sharpening your trading skills. For example: Question Markets rise when

there are more buyers than sellers
buyers are more aggressive than sellers
sellers are afraid and demand a premium
more shares or contracts are bought than sold

I and II
II and III
II and IV
III and IV

Answer B. II and III. Every change in price reflects what happens in the battle between bulls and bears. Markets rise when bulls feel more strongly than bears. They rally when buyers are confident and sellers demand a premium for participating in the game that is going against them. There is a buyer and a seller behind every transaction. The number of stocks or futures bought and sold is equal by definition.

Customer Reviews:

Excellent Place to Begin Your Trading, Covers it all........2007-05-24

Dr. Elder has put together in Trading for a living, the most comprehensive 'soup to nuts' book I have read on the broad subject of trading. Ok, even Dr. Elder would tell you that to trade after having read ONLY his book would be the act of a fool, I can tell you now that I have read dozens of books, that there is certainly NO BETTER book to get a broad understanding of trading. Dr. Elder focuses on the three aspects of trading that a trader must master: Your Psychology, Your Money-Management, and then the Analytics. His psychology stuff is very good, a bit harsh, kind of like an old Russian dude might sound like in real life, but sound. And certainly less harsh than a big hit to your capital position on a loss in the markets. His money management section is powerful, which was perhaps the most concise and helpful that I have read on the subject. The money management section gave you a solid foundation for knowing what 'money management' is, and how it should be understood in the world of trading. And lastly, the analytics. Wow. He covers alot of them. And in greater depth and with more proficiency than many of the books that cover just "one" analytic. He tells you how each analytic would be used proficiently, and when it would be dangerous to use. Keep in mind that all of the tools he describes are not recommended, but part of a broader suggestion on how to build your own trading system. Lastly, his covering of the Miscellaneous Analytics is worth the price of the book. It was not the best part of the book, however, it covered areas like Market Vane and CFTC Committments of Traders! In that same section he talks about trading against the herd, (being contrarian) and how to discern who the 'big money' is in Futures Markets. NO ONE has ever mentioned this information in any of the other books I have read. If there was a single book that one could read to begin from there to trade, I would say this is it...although, I would strongly recommend against that. Anyway, this book is in the top 3 of books that cover this subject in the broadest of terms. I do not know what the other two are, but if you are interested in trading for a profession, then read this book.

Forget this one.......2007-05-23

This audio is a big JOKE a waste of time forget this one and look for something else.This is for babies,waste of time.

One of the best book on trading I've read........2007-05-12

I am a "professional" floor trader of over 15 years. Although I have been very successful, this book has given me more ideas on improving- not just my trading- but my life also.. and I haven't even read 1/2 the book yet!

I'm also using some of Dr. Elder's principles to improve my girlfriends 9 year old son's outlook on bettering his life. He is very emotional and I'm trying to teach him about controlling his emotions as Dr. Elder teaches in this book.

The book was recommended to me by a successful trader/trading instructor. Boy am I glad I got it. Thanks Nelson! I recommend it to anyone who wants to improve their financial status through trading.

Learn to make money in the market.......2007-04-10

This is a great book to learn about how to make money in the markets. It is full of strategy and lesson learned by the author. It is also interesting to learn the story of the author. It is a great book to help you learn to make money in the market.

Best trading book I have read.......2007-03-22

I have read a lot of trading books, but this is the best I have yet encountered.

Most of the other books don't take into account the vast numbers of different trading styles and personalities of people. They presume that there is only "one" correct way, which is obviously not correct.

I enjoyed the book because of it's weighted focus on the psychological aspects of trading. Most other books I have encountered are less effective in this area, although they may be technically sound.

The money management element was also most helpful. Many other authors mention the "importance of money management" but don't tell you what it is or how to do it.

The technical analysis areas in this book are a little light, but there are many other sources for that, and this is unlikely to be the only book you buy.

This has been my first year of fulltime trading, and you could say that I have paid some heavy tuition along with some hard won gains. Many of the "classes" I have taken could have been avoided had I read this book first and taken lessons on money management and core trading rules to heart.

McMillan on Options, Second Edition (Wiley Trading)

Average customer rating:

Interesting reading on options
A ponderous, insightful guide to options strategy, but not for everybody
Full of bright trading ideas
McMillan on options
Not for beginners

McMillan on Options, Second Edition (Wiley Trading)
Lawrence G. McMillan
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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Similar Items:

Options as a Strategic Investment
Option Volatility & Pricing: Advanced Trading Strategies and Techniques
The Bible of Options Strategies: The Definitive Guide for Practical Trading Strategies
The Option Trader Handbook: Strategies and Trade Adjustments (Wiley Trading)
New Insights on Covered Call Writing: The Powerful Technique That Enhances Return and Lowers Risk in Stock Investing

ASIN: 0471678759

Book Description

Legendary trader Larry McMillan does it-again-offering his personal options strategies for consistently enhancing trading profits
Larry McMillan's name is virtually synonymous with options. This "Trader's Hall of Fame" recipient first shared his personal options strategies and techniques in the original McMillan on Options. Now, in a revised and Second Edition, this indispensable guide to the world of options addresses a myriad of new techniques and methods needed for profiting consistently in today's fast-paced investment arena. This thoroughly new Second Edition features updates in almost every chapter as well as enhanced coverage of many new and increasingly popular products. It also offers McMillan's personal philosophy on options, and reveals many of his previously unpublished personal insights. Readers will soon discover why Yale Hirsch of the Stock Trader's Almanac says, "McMillan is an options guru par excellence."
Lawrence G. McMillan (Morristown, NJ) is President of McMillan Analysis Corporation. As the foremost authority on options, Mr. McMillan is publisher of the Option Strategist, a leading advisory newsletter for the options community, and creator of the innovative fax service "Daily Volume Alerts." He is also the author of the bestselling books Profit with Options (0-471-22531-2) and McMillan on Options (0-471-11960-1). A recipient of the Trader's Hall of Fame Award, Mr. McMillan is also a sought-after speaker and options educator, and conducts options training workshops around the country.

Download Description

Praise for McMillan On Options Second Edition "When it comes to options trading education, no one is more respected than Larry McMillan. With all the new innovations in the options arena over the past decade, this revised edition of his classic work is a must-have for ardent options traders and novices alike." ¿Price Headley President and Founder, BigTrends.com "Larry McMillan has proved once again that he is an option strategist and educator without peer. In this book, he provides an intimate look at his own personal trading philosophies. He has truly raised the bar in his update to McMillan on Options."James Bittman OIC Instructor and Author "Amazingly, Larry McMillan has outdone himself. His update of McMillan on Options not only expands the original research to include single-stock futures, LEAPS, ETFs, and volatility futures but goes beyond theory and reveals his personal strategies and new methods. McMillan¿s put-call ratio work is bar none. An absolute must-read for trader

Customer Reviews:

Interesting reading on options.......2007-06-27

This is not a textbook of option strategies and option trading. However, it makes for interesting and educative reading. If you want to learn the trade strategies in depth, I recommend the companion book by Lawrence McMillan "Options as a Strategic Investment".

A ponderous, insightful guide to options strategy, but not for everybody.......2007-06-12

I loved this book, written in a language that is easy to understand for non native speaking, like me.
A few points:

- this book is not for absolute beginners. Mr. McMillan indeed provides the basis for understanding options and the most known strategies, like spreads, strangle or similar. I would however direct the reader who is unaware of the basis to the other ponderous work of Mr. McMillan, Options as a strategic investment
- McMillan drives the willing reader to a thorough understanding of concepts/tools often misused, like volatility, put/call ratio, etc. Specifically, the third chapter is a truly inestimable (at least in my opinion) key to harness the predictive power of options.
- This is a no-hype book, if compared with the average of the sector. Mr. McMillan does not indulge or indulges only with tasteful sobriety in describing or promoting his professional services.
In conclusion:
Though if this book is not an easy reading, I would strongly urge the serious professional to read and re-read this book. It is really one of the few eye-opener books I've ever read in this domain.

Full of bright trading ideas.......2007-03-27

This book is a comprehensive guide to a lot of trading strategies, not at all limited to the use of options.

I liked the fact that the author used a lot of real life examples, that helped to understand the strategies and sometimes the mistakes you can make

McMillan on options.......2007-01-10

Very well written and illustrated book on options and how they work. A must have for any serious option trader.

Not for beginners .......2006-12-17

Some of the negative reviews sounded like they wanted a short book that said "Do the following and you will be very rich very quick". Guess what, that book doesn't exist and will never exist. Options are very useful if used properly but to use them properly you need a deep understanding of risk and the mechanics of options. These concepts are mathematical in nature and so is this book. For a variety of reasons just buying a bunch of options is a suckers game as many have learned, but used to reduce risk as a hedge is a different matter. McMillan's other book Options as a Strategic Investment would be the place to start learning. This advanced text explains many things professionals are doing and gives insight to why the markets behave as they do. If you want to get involved with options you need to understand this book thoroughly.

Come Into My Trading Room: A Complete Guide to Trading

Average customer rating:

A path to follow
Amazingly good and helpful !
Good book
Realistic and helpful
Good as a start, better when complemented by other books

Come Into My Trading Room: A Complete Guide to Trading
Alexander Elder
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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Similar Items:

Study Guide for Come Into My Trading Room: A Complete Guide to Trading
Entries & Exits: Visits to 16 Trading Rooms (Wiley Trading)
The Complete Trading for a Living: The Legendary Approach to Trading with the Companion Study Guide
Trading for a Living: Psychology, Trading Tactics, Money Management
High Probability trading

ASIN: 0471225347

Book Description

The trading bible for the new millennium

In Come Into My Trading Room, noted trader and author Dr. Alexander Elder returns to expand far beyond the three M's (Mind, Method, and Money) of his bestselling Trading for a Living. Shifting focus from technical analysis to the overall management of a trader's money, time, and strategy, Dr. Elder takes readers from the fundamentals to the secrets of being a successful trader--identifying new, little known indicators that can lead to huge profits.

Come Into My Trading Room educates the novice and fortifies the professional through expert advice and proven trading methodologies. This comprehensive trading guide provides a complete introduction to the essentials of successful trading; a fresh look at the three M's, including a proven, step-by-step money management strategy; and an in-depth look at organizing your trading time. Come Into My Trading Room reviews the basics of trading stocks, futures, and options as well as crucial psychological tactics for discipline and organization—with the goal of turning anyone into a complete and successful trader.

By showing traders how to combine the elements of mind, method, and money, Come Into My Trading Room gives readers the knowledge and insight to enter the market with confidence and exit with profits. Unparalleled depth and a wide range of coverage will keep all levels of traders engaged, informed, and returning to Come Into My Trading Room again and again.

Dr. Alexander Elder (New York, NY) is a professional trader, technical analysis expert, and practicing psychiatrist. He is the founder of Financial Trading Inc., providing intensive trading camps to traders all over the world. Elder's first book Trading for a Living (Wiley: 0471592242) and the companion study guide have sold over 160,000 copies.

Customer Reviews:

A path to follow.......2007-08-17

This is the best trading book I ever read. The technique showed by Mr. Elder to act automatic while the market are open and run fast instead of thinking is one of the best advice I ever heard. To be a sucessful trader you really need a defensive money management approach and a system to follow, it is much more important than simply identifying trends and bet right.

I rated this book 5 stars because I can't rate 6 or more. And yes I did some money with it. In fact this book already paid for itself...

I also reccomend Entries & Exits : Visits to 16 Trading Rooms (Wiley Trading) and The Complete Trading for a Living: The Legendary Approach to Trading with the Companion Study Guide from the same author.

Amazingly good and helpful !.......2007-06-16

The book is realy very good.
He talked in detail about almost everything.
Talked about psychology better than a whole book in one chapter " I have read a whole book about this topic and never get more information than what he said"
explained beautifuly and nicely, HOW the trade must be executed: from A to Z. I have not find yet a better method than his.
Was great showing us how money could and must be managed.
Disclsing his own trading diary is the top of what he made in the book. It is realy like inviting someone to your bedroom!! But for no pupose but to our favorit, he made it. Don't hesitate buy it now!

Good book.......2007-05-30

I bought this book for my wife since she likes stock trading. She told me this is a great book which worthes 5 starts. Although I know nothing about trading, I did spent some days on this book just for curiosity. However, I felt lost most of the time since the book talks some terms with less detail (e.g., k tail). I assume that only people who knows TA will benefit from this book, not the ones who know nothing about trading or TA yet. I guess the people may benefit more if buy the author's another book "Trade for a living". So I will give a 4 stars.

Realistic and helpful.......2007-05-27

Dr. Elder provides some simple tools and great strategies for a beginner to learn trading and protect capital. He lays out achievable goals, plans, and shows his own "secret weapons". Great book!

Good as a start, better when complemented by other books.......2007-05-21

This book is a good start to acquire the knowledge necessary to be a successful trader.Its strength lies in two areas (1) Discipline and money management (2) Respect for the market, where the author emphasizes that even the most reliable patterns can fail and a trader should always be prepared for surprises in the market.
I found this book more useful when complemented by others . I would suggest " How to take money from wall street" by Oz where the book focuses on day trading techniques not touched on in this book. Also "generate thousands on your stocks........." By Elias
Second or third editions, which offers valuable practical ideas not discussed in the subject book for short and intermediate term trading as well as practical incorporation of option techniques to limit losses and enhance profits.
Dr. Elder did a good job putting the trader on the right track but you will have to enhance your knowledge by other books. I have suggested the two that worked best in my opinion.

Dynamic Hedging: Managing Vanilla and Exotic Options (Wiley Finance)

Average customer rating:

Dynamic Hedging...goo stuff
Good Work
the best book in options
FOR EXPERIENCED TRADERS
Real book for traders

Dynamic Hedging: Managing Vanilla and Exotic Options (Wiley Finance)
Nassim Nicholas Taleb
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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Similar Items:

The Volatility Surface: A Practitioner's Guide (Wiley Finance)
Option Volatility & Pricing: Advanced Trading Strategies and Techniques
The Black Swan: The Impact of the Highly Improbable
Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets
Inside Volatility Arbitrage : The Secrets of Skewness

ASIN: 0471152803

Book Description

Destined to become a market classic, Dynamic Hedging is the only practical reference in exotic options hedging and arbitrage for professional traders and money managers

Watch the professionals. From central banks to brokerages to multinationals, institutional investors are flocking to a new generation of exotic and complex options contracts and derivatives. But the promise of ever larger profits also creates the potential for catastrophic trading losses. Now more than ever, the key to trading derivatives lies in implementing preventive risk management techniques that plan for and avoid these appalling downturns. Unlike other books that offer risk management for corporate treasurers, Dynamic Hedging targets the real-world needs of professional traders and money managers. Written by a leading options trader and derivatives risk advisor to global banks and exchanges, this book provides a practical, real-world methodology for monitoring and managing all the risks associated with portfolio management.

Nassim Nicholas Taleb is the founder of Empirica Capital LLC, a hedge fund operator, and a fellow at the Courant Institute of Mathematical Sciences of New York University. He has held a variety of senior derivative trading positions in New York and London and worked as an independent floor trader in Chicago. Dr. Taleb was inducted in February 2001 in the Derivatives Strategy Hall of Fame. He received an MBA from the Wharton School and a Ph.D. from University Paris-Dauphine.

Customer Reviews:

Dynamic Hedging...goo stuff.......2007-06-13

Great book, very easy read as it is written in a conversational tone. Covers all the issues associated with derivative trading in an intuitive manner.

Good Work.......2006-10-24

Definitely for pros. This book is one of the fewest which is concentrated on the hedging compared to the tons which explain pricing. The other pro of the book is you don't need to be a quant or a PhD guy to understand the book. If this seems what you are looking for, i recommend you get it.

the best book in options.......2006-03-24

This book is a really useful and practical introduction in derivatives from a guy who knows what he is talking about.
Plenty of illustrations and stories from real life. Mathematics is quite informal, and hence the book may not be used for PhD programs - it's a good master's level... good for a guy who wants to start trading options.

FOR EXPERIENCED TRADERS.......2006-02-27

VERY INFORMATIVE, WRITTEN BY AN ACTIVE TRADER, MANY USEFUL TIPS TO BE APPLIED ON THE JOB. ALL IN ALL AN EXCELLENT BOOK. PROVIDES REAL HELP AND KNOWLEDGE, MUST BE READ BY ACTIVE TRADERS.

Real book for traders.......2004-06-27

really great to figure out the intricacies of options. if you need something more conventional just get hull; this book is by someone who does it for a living and has different intuitions than what you get in the ivory tower.
some of the points are great but may need more updating

Street Smarts: High Probability Short-Term Trading Strategies

Average customer rating:

Street Smarts
if you don't like this, you don't understand trading
This book is over priced and an absolute waste of precious time!
Expensive???
Who gave woman a free pass?

Street Smarts: High Probability Short-Term Trading Strategies
Laurence A. Connors , and Linda Bradford Raschke
Manufacturer: M. Gordon Publishing Group
ProductGroup: Book
Binding: Hardcover

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Options | Investing | Business & Investing | Subjects | Books

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Entries & Exits: Visits to 16 Trading Rooms (Wiley Trading)
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Mastering the Trade (McGraw-Hill Trader's Edge)
The Taylor Trading Technique

ASIN: 0965046109

Book Description

Published in 1996 and written by Larry Connors and "New Market Wizard" Linda Raschke. This 245 page manual is considered by many to be one of the best books written on trading futures. Twenty-five years of combined trading experience is divulged as you will learn 20 of their best strategies.

Among the methods you will be taught are:

* Swing Trading - The backbone of Linda's success. Not only will you learn exactly how to swing trade, you will also learn specific advanced techniques never before made public!
* News - Among the strategies revealed is an intra-day news strategy they use to exploit the herd when the 8:30am economic reports are released. This strategy will be especially appreciated by bond traders and currency traders.
* Pattern Recognition - You will learn some of the best short-term set-up patterns available. Larry and Linda will also teach you how they combine these patterns with other strategies to identify explosive moves.
* ADX - In our opinion, ADX is one of the most powerful and misunderstood indicators available to traders. Now, for the first time, they reveal a handful of short-term trading strategies they use in conjunction with this terrific indicator.
* Volatility - You will learn how to identify markets that are about to explode and how to trade these exciting situations.
* Also, included are chapters on trading volatility, trading Crabel, trading the smart money index, trading gap reversals, a special chapter on professional money management, and many other trading strategies!

Customer Reviews:

Street Smarts.......2007-01-26

I never received the book. Apparently the seller used the slowest form of shipping there is. No one knows where the books is. He shipped on 12/27/06. I have since had the sellers refunded and took that business elsewhere and received it in 3 days time.

if you don't like this, you don't understand trading.......2006-12-05

you can always spot s loser by one of (or both) of two reactions:

1- They want to get into a business to make money but think $200 is too much!!

2- They expect what they read to agree with their bias

Anyone who wants to make money but thinks a book is expensive at $170 has the wrong personality for trading. If you are like that, you have no business trading because you are too greedy and a coward.

Secondely, when you are making a comment about someone, it is really important to REALLY be sure that what you are saying is acccurate. The implication that Linda does not make money trading is just ridiculous. The woman is a bloody Market Wizard, for God's sake! She is also a pretty crap promoter of her services.

The book is excellent. The question is: does it contain methods that can make you money? Of course it does. You guys are clearly sleep walking because you are concentrating on believing that every method in the book will make you money all the time under any circumstances. Quit believing that and pick the ones that work under different market conditions.If you can't, it is your fault, not the book's.

If you watch Linda trading, you will see her using those setups under the right conditions. The fact is, if you cannot make money trading the setups in the book, you are either new and have to learn the basics first, or you are not cut out for this business.

This book is over priced and an absolute waste of precious time! .......2006-09-22

If you are new to the trading game, try to avoid getting sucked into the fantasy world of imaginary trading setups.

Turtle Soup, Momentum Pinball, 3 Little Indians? Are you kidding me! Talk about sell the sizzle, not the steak.

Understand the markets first, I would recommend reading books published by the CFA Institute, then read about accomplished traders, you know the guys who actually make money trading as a profession (Dennis, Tudor Jones, Borsellino, etc), then develop your own approach to the markets.

If you're interested in Technical Analysis, you can join the MTA (Market Technicians Association),its well worth the time and money.

Save your money folks! There are plenty of quality classic trading books out there for 90% less, and without all the mindless drivel.

Buyer Beware!!!!!!

Expensive???.......2006-08-23

I bought this book on a recommendation from another trader. I paid a lot less than the $175 they are asking now, but I still thought it was very expensive. I read through half of the book and thought it was interesting. On one of those days I had the book open on my desk and realized that one of the patterns from the book was forming! I waited till the right moment and took the trade on 2 year treasuries. Exited the trade about a minute later with a $225 profit. That paid for the book on a single trade.

I realize I could have also lost $225 on that trade, then the cost of the book would have been around $350. I was now happy with the purchase of the book. I looked for more trades, but did not find any that week. Then the book got pushed aside and forgotten about. I found the book again last week because I heard someone mentioning it. I pulled it out and reread it.

I think the book has something to offer. Is it too expensive? That is hard to say. For me it became free after one trade. Was I just lucky? I don't think so because I can scroll through charts and see a lot of the set-ups in hindsight. So the trades are there, its just a matter of being there to pull the trigger as they happen.

I hope to get more out of the book from this second reading. One thing I have noticed is that many times I read a book and get something. Then upon rereading it I pick up many thoughts that I did not see or understand during the first reading. Maybe I wasn't ready at the time, but having many dozens of books under my belt and lots more life experience in between the first and second readings, I was able to digest more.

Who gave woman a free pass?.......2006-08-07

I am aficionado of good books on technical analysis and this is certainly not a good one! Many of the techniques described in this book were invented by me as well many years before this book was published. Subseqeuntly, I discarded them into my recyclcle bin as worthless. I am not even a full time investor, devoting a good share of my time to real estate. I am just surprised that people are gullible enough to accept this tripe. This expensive book, expensive seminars, expensive internet service. What is this huckster going to come up with next. Perhaps she has gotten away with this sham because she is a female in a predominanatly male business. I too am involved in the national technicans group and I am embarrassed to be associated with such ilk. I have much to contribute to this industry and look forward to doing so in the future. In the meantime, I can only hope these market charlatans mend their ways.

New Trading Systems and Methods (Wiley Trading)

Average customer rating:

Excellent material in 4th edition
Might interest a mathematician
The only book I can depend on for clear system trading information.
What more could you ask for in a book???
Solid technical analysis book

New Trading Systems and Methods (Wiley Trading)
Perry J. Kaufman
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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The Encyclopedia of Trading Strategies
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Technically Speaking: Tips and Strategies from 16 Top Traders
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ASIN: 047126847X

Book Description

Get the bestselling guide to trading systems, now updated for the 21st century.

For more than two decades, futures traders have turned to the classic Trading Systems and Methods for complete information about the latest, most successful indicators, programs, algorithms, and systems. Perry Kaufman, a leading futures expert highly respected for his years of experience in research and trading, has thoroughly updated this bestselling guide, adding more systems, more methods, and extensive risk analysis to keep this the most comprehensive and instructional book on trading systems today. His detailed, hands-on manual offers a complete analysis, using a systematic approach with in-depth explanations of each technique. This edition also includes a CD-ROM that contains the TradeStation EasyLanguage program, Excel spreadsheets, and Fortran programs that appear in the book.

Customer Reviews:

Excellent material in 4th edition.......2007-05-12

Similar to many traders who own Perry Kaufman's 3rd edition of New Trading Systems and Methods, I ignored the publication of the 4th edition. Well, such oversight was my loss. Even a quick perusal of the work reveals a wealth of new ideas, techniques, and concepts. Kaufman offers ample inspiration for exploring trading problems in a new light.

Kaufman's encyclopedic coverage is unique. The 3rd edition contains 700 plus dense, fast paced material. The current edition adds another 500 pages of new and revised material. Each topic is examined with care; Kaufman has an ability to focus on the key concepts and omit the fluff. His presentation assumes a sophisticated, intelligent reader with solid software development, testing, and trading skills. Sloppy readers, clumsy testers, undisciplined `traders' will complain that this is not a `trading war stories book'--such complaints are correct; this is a trading SYSTEMS and METHODS handbook.

The book binding has a problem. At 1,200 pages, the adhesive binding is falling apart. This book requires either sewn through or over-sewn type binding. Shame on John Wiley for such embarrassing production quality!

Might interest a mathematician.......2007-04-28

I've only gotten about a third to halfway thru the book as I can't see what the author's purpose is, whether laboring thru the rest would benefit me or not. It reads like a college level textbook of the mathematics behind technical analysis. Boring. In what I read, the author worked thru proof formulas to get to more elaborate indicators. In so doing, sometimes he explained what his formula's symbols meant and sometimes not. I sure don't want to go back thru the book to see if I can find an earlier description of what the symbols mean should I ever want to use one of the new formulas. Then he compared some of the new trend followers like standard deviation against olders ones like moving average and point and figure and behold none are really better than the others. When I get stranded on a tropical isle and am bored to tears, I will page thru the rest of it.

The only book I can depend on for clear system trading information........2007-01-27

After buying a large number of highly recommended trading books (including the books referred to in these reviews), this is the only book that I can depend on to clearly explain in technical detail almost any aspect of system trading that I need information on. This book is well written, comprehensive, and approaches subjects in an objective manner. It doesn't tell you how to trade, but clearly describes the different system trading strategies and indicators, their advantages and disadvantages, and practical considerations. This is a must for those developing rule based and automated trading systems.

What more could you ask for in a book???.......2006-10-02

Trading is serious business, although you wouldn't think so, considering the way many people approach it.

The fundamental truth about all types of markets is that the minority gets the money, and keeps it. Of course, there will be times where the market trends strongly in one direction (usually up), and the masses confuse a bull market for brains. But those who are serious about earning profits, and keeping them, need to develop a method or philosophy to separate their thoughts and actions to act independently from the crowd.

If there were college level courses in financial speculation, Kauffman's book would be the required text. All sorts of twists on trend following, counter trend strategies, technical indicators, statistical methods, as well as various charting techniques, are all described. I should also add, the book comes with a CD that enables you to test various methods described in the book using Excel spreadsheets. The spreadsheets are already set up, you just need to input the data.

Some reviewers say that all of the methods are "bad." I'd disagree. This book is a valuable reference, and when you understand the logic of what has come before, you can adapt it to current market conditions. There are a surprisingly large, but finite, number of ways to slice and dice market data. But there are an infinite number of ways to combine a few them into a robust trading system.

Solid technical analysis book.......2006-08-02

This book is worth the money. The author presents solid explanations on the use of technical indicators and statistical calculations of the market. He guides you step by step in order to understand the specific applications and use of technical analysis and use of mathematical calculations applied to the financial markets. The depth of research and examples is very broad and extensive, plus the examples of the actual programming code in order to create your own trading systems is very helpful. Recommended by MTA to complete the CMT course.

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