Book Description

An in-depth examination of a powerful new trading strategy

"Fischer provides an intriguing and thorough look at blending the Fibonacci series, candlesticks, and 3-point chart patterns to trade securities. Backed by explicit trading rules and numerous examples and illustrations, this book is an invaluable tool for the serious investor. Read it."
–Thomas N. Bulkowski author of Encyclopedia of Chart Patterns and Trading Classic Chart Patterns

In this groundbreaking new book, Fibonacci expert Robert Fischer and coauthor Dr. Jens Fischer successfully merge Fibonacci applications with candlestick charting to create an innovative trading strategy that will help you enhance profits and reduce risk.

Filled with in-depth insights, helpful charts and graphs, and practical real-world examples, Candlesticks, Fibonacci, and Chart Pattern Trading Tools reveals how correctly combining these different strategies can give you a noticeable edge in challenging market times–regardless of whether you are a short-term or long-term trader–and improve your chances of success under a variety of market conditions.

You’ll be introduced to the critical aspects of this synergistic approach through in-depth analysis and detailed explanations of:

• Core combinations of Fibonacci trading tools with candlesticks and regular 3-point chart patterns
• The magic figure "three" and its relevance in pattern recognition
• Fibonacci-related trading strategies, selected candlestick chart patterns, and regular 3-point chart patterns
• Applications of these trading strategies–double tops, Fibonacci price extensions, PHI-channel applications
• PHI-ellipses as trading tools
• And much more

Along with the computer technology of the WINPHI charting program included on the companion CD-ROM, Candlesticks, Fibonacci, and Chart Pattern Trading Tools will help you understand and implement this profitable trading strategy to the best of your ability. ... Read more

Reviews (2)

Good concept, but too repetitive
the first 3 chapters touch very briefly on psychology, fibonacci tools and candlesticks charting as an introduction. it is concise, just about sufficient to give uninformed readers a basic understanding in these topics. for a deeper understanding of these subjects; steve nison's 'japanese candlestick charting' and fischer's 'new fibonacci trader' are excellent. these chapters were easy for me as i had already read those 2 books.

chapter 4 is what seems to be a pretty useless chapter where the author states statistical tests done on the profitability of each method described in the previous 2 chapters (ie the various candlesticks and fibonacci tools). he would repeat the description of each method and show their profitability tests over certain periods.

chapter 5 details a very useful method of using fibonacci trading, the PHI-ellipse. however, this chapter only repeats and expand what you'd have read in the previous chapters. note: PHI ellipses was already covered briefly in chapter 2. PHI ellipse is also found in 'new fibonacci trader'.

chapter 6 teaches you how to combine the various methods discussed. the author would repeat some of the methods as he reintroduce them. an illustration of how repetitive the book is, the chapter is 50 pages long, half of which are graphics and there are summaries after each topic/method; yet there is a further summary to this chapter of 2.5 pages. obviously, the summary is a repetition!

there would be a last chapter of summary for the entire book...

a software for using the proprietory PHI-ellipse is provided with this book. i find that i cannot use it so far. but this may be due to my own inadequacies with the computer... or a conflict as the software has some very strict requirements for the charting data.

a good book with good theories but the author need to organise it better. the end product is disorganised and repetitive. readers could just read 'japanese candlestick charting' and 'new fibonacci trader', apply some common sense to combine these 2 methods and skip this book. the same CD-ROM software for the PHI ellipse come with 'new fibo trader'.

Fibonacci ,selected chart patterns and candlesticks.
This book is a combination of Candlestick, Fibonacci and some basic chart patterns, Three quarters of the books discussed the basic principles and applications of these three tools, only the last chapter show you how to apply these tools together. The explanation of candlestick and chart pattern seem to be too brief, and the fibonacci part overlays a lot with the author's previous book. I would suggest you to buy this author's previous book "The New Fibonacci trader" together with Steve Nison's "Japanese Candlestick Charting Techniques¡¨, and it would be sufficient for you. ... Read more

Book Description

Praise for EXCHANGE TRADED FUNDS and E-MINI STOCK INDEX FUTURES

"The publishing of Exchange Traded Funds and E-mini Stock Index Futures provides investors, retail and institutional alike, great insight as to the structural advantages and applications of these two innovative investment and trading instruments. The launch of these products continues the trend of democratization of index investing empowering more investors to capitalize on the virtues of indexing. Mr. Lerman’s book is a great reference tool to gain a better understanding of these exciting products."–Nick Lopardo, Vice Chairman, State Street Corporation, and Chairman & CEO, State Street Global Advisors

"This book is a must-read for anyone thinking of investing/trading in Exchange Traded Funds (ETFs) and E-mini stock index futures! Lerman combines excellent research with practical examples to provide a comprehensive analysis of one of the fastest growing products in all of finance."–Jay Baker, Vice President of Exchange Traded Funds Marketing, Spear, Leeds & Kellogg

"David is one of the most powerful communicators in the industry. His succinct style and practical examples make this book a must-read for anyone thinking of investing in ETFs and E-mini stock index futures. Standard & Poor’s is proud to have played a role in the success of these innovative and exciting new products."–Shirley Petersen, Vice President, Global Licensing, Standard & Poor’s Corp.

"Here’s a great guide for those looking to get started in index investing and to learn how

by using Wall Street’s most successful new investment vehicles–exchange traded funds and E-mini stock index futures."–Erin Arvedlund, Staff Writer, Barron’s magazine

"The ownership of index funds is a must for all long-term investors. David Lerman has done a terrific job of explaining everything you need to know in order to take advantage of the broad array of index fund products on the market. He shows just how simple it is to be a participant in funds that routinely outperform nearly every money manager in existence."–Lawrence G. McMillan, author of McMillan on Options and President, McMillan Analysis Corp. ... Read more

Reviews (6)

E-BOOK HAS PROBLEMS
I recently purchased the e-book since I'm located overseas (in Saudi Arabia) and postage is sometimes more than the cost of the books. It also takes in excess of 3 weeks to get mail here from the States. I purchased and downloaded the e-book and was all set to print. I could only print the first 14 pages and then was notified by the Abode print driver that I could not print any more pages that day. After doing some checking I found that permissions were set by the publisher that only allowed printing 35 pages every 7 days - what a rip off!!! By the time I can finally print the last pages we'll be celebrating July 4th 2004 (well maybe not that long). But the idea that printing is being restricted after purchase is outrageous. I have written Amazon to inform them. At the very least the publisher should advise of this practice BEFORE YOUR PURCHASE. I will not purchase any e-books until this practice by Wiley is discontinued.

Outstanding for biginners in ETFs and Emini futures
This is a well written book and easy to read about the history of ETFs and Emini futures. The author describes the creation of the likes of SPY, QQQ, SMH. Why is it important to know about these instruments, how they get created, who manages them, their cost effective investing over regular mutual funds. He goes in great detail by listing all EFTs available today with their tickers as well, till the point I don't need to keep going to the internet. I started trading the EFTs for profit and for hedging in particular after reading this book. The introduction about the Emini futures is useful and gave me a good start in this subject.

good book for beginner
good book for beginner who wants to know about ETFs (like me). helped me in reviewing my holdings.

satish paul

Excellent Read
I happened to pick up this wonderful book while in Chicago recently. In browsing through the introductory pages, I smiled at the references to both Warren Buffett and Jack Bogle. Now here, I thought, is someone who "gets it". Buy this book and read it. It is worth every penny. Amidst today's cacaphony of financial marketing, Lerman's voice emerges from these pages with refreshing honesty, simplicity, and reason.
Those trying to educate themselves in the area of personal finance and investment should read this book carefully. For conservative investors as well as for those inclined to a bit of speculation on occasion, this book is very well written and informative.
Following up on the themes that, in the long run (emphasis), economic fundamentals drive returns; that larger, well-established, actively traded markets are, over time (emphasis), highly efficient; and that costs matter greatly when assessing net performance over extended periods; Lerman does an excellent job of explaining the rapidly developing role of ultra low-cost, exchange traded funds (ETFs) as part of any core indexing program. At the same time, he carefully exposes the many hidden (and, unfortunately, rising) costs lurking in most mutual funds today.
Still, Lerman wisely acknowledges, in the short term things can and do happen. While over long periods of time certain markets may be extremely efficient, the difference between that and what may happen in the near term is, as Buffett points out, the difference between day and night. After all, we are inescapably human, and fear and greed will never be completely expunged from our collective psyche. Sudden, unexpected events can result in major market and/or sector security specific swings, and it is during those times that patient investors as well as prudent speculators can occasionally reap outsized returns. Here again, ETFs (as well as the related E-Mini Stock Index Futures for more enterprising individuals) can help.
In short, by building a long-term, broadly-based core portfolio around low-cost ETFs and perhaps a few well-chosen securities and/or money managers (particularly in less efficient markets), and by then (for the enterprising investor) complementing such a portfolio with the occasional, more speculative foray, whether by utilizing ETFs, E-Mini Stock Index Futures, or other means, an intelligent individual should be able to navigate successfully today's choppy financial waters.

An introduction for beginners
If you are new to the world of ETF's and E-Mini index futures, this book will shed much light on these instruments. If, however, you are a trading veteran with knowledge of these markets, you have no need for this book as it simply introduces the instruments in basic format and details. ... Read more

Reviews (2)

Interesting but dated
Krieger, I'm going to guess, didn't really know for sure what kind of book he wanted to write so he kind of included a bit of everything, but gave us not enough of anything.

It would have been great if the book had been written in the same style that Jim Cramer's book revealing how he ran his hedge fund was written, lot's of action and description. Krieger includes some of this, like how he'd spend 18 to 20 hours a day in front of a computer and wonder about his life. But he just didn't get in depth enough.

He covers a lot of history, but again, it was not enough if history was what you were looking for. In my case, it was a bit much, I really didn't need to hear so much about the specific names and dates, I wanted more of the individual trading side of his story, what he did and why. How it worked or didn't.

Of course, this book is totally out of date. For that reason, it is actually even more interesting in a way, as the author has no idea how FX trading will advance.

The book itself offers no specific strategies or advice on investing in the FX market, however, I guess that would make sense as when it was written, only pro's or people with a lot of cash could enter this market.

If Krieger were to decide to write a modern work, covering the topic of trading "inside the trillion-dollar world of currency trading" as the cover states, it would be something I'd love to read. I can't recommend this work currently, without the caveat that the reader realize it's limited value as far as trading in today's market. The history, however, is interesting as is the limited view the author gives us as to his trading. Whether the price of the book is worth paying, I'd recommend it only to the reader that is sure of what they are getting.

Great overview!
This is a great book. Mr.Krieger gives you the history of how foreign currency trading came about. He also provides you insight into how curreny trading work and more importantly how it fails.

He doesn't give specific strategies on how to trade currencies, but he does introduce vocabulary and resources to help you get started. In that respect the book is out of date. There is no discussion on the internet and how that has changed the face of currency trading forever.

This is a good book, a foreign exchange classic that wouldn't hurt any currency trader if he kept a copy on his shelf. ... Read more

Book Description

Become a savvy investor in the options market

The New Options Market, Fourth Edition

Referred to as the bible of options books, The New Options Market has groomed two generations of traders and investors for success. Now with this updated and expanded Fourth Edition, Max Ansbacher gives his unique and tested strategies to you! With the help of numerous real-world illustrations, appendices with over thirty Web site suggestions for options traders, and specific advice on option picks, he explains the basics of trading theory and practice. In easy-to-understand, nonmathematical language, The New Options Market, Fourth Edition, is a highly personal, and newly updated guide that is specifically aimed at options traders in need of knowledge that will lead them to success.

"Aimed squarely at the ordinary investor, The New Options Market provides a practical guide to the use and misuse of options as an investment tool. Max Ansbacher’s book is an excellent starting point for investors seeking a clear, nontheoretical introduction to options." –Jack Schwager, Author of Market Wizards and The New Market Wizards

"As a broker on the S & P options floor for the past eight years, I find that The New Options Market, unlike other option books, represents a clear, practical approach to trading options. Both the professional and the novice will benefit from the comprehensive coverage of all aspects of option trading." –Kevin M. Maclean, V.P., Fimat, U.S.A.

"Max Ansbacher is a true professional–one of today’s most experienced option brokers and traders. His expertise stands out in this new edition of his book as it has in the previous editions. The fact that Max is a maestro at writing options is evident in the quality of the chapters on option selling."–Lawrence G. McMillan, President of McMillan Analysis Corp. and author of McMillan on Options ... Read more

Reviews (5)

Finally--solid strategies for success!
If you are serious about trading options, BUY and study this book! Ansbacher explains the concepts needed to understand options in clear and nontechnical terms. Often he is brutally honest in ways the force you to think. The most valuable parts of the book are the strategies that he provides for each type of trade to inform you of what action to be prepared to take if (and when!) the market turns against you. Ansbacher repeatedly tells you that it is not easy to make money with options, but the thesis of the book is that if you approach options trading with some of the strategies he shares, you will be able to keep the premiums you collect and not get an ulcer. His ideas about trading two-strike prices out and about how to easily figure the margin requirements on options are well worth the price of the book. The purpose of this book is not to tell you how to find good stocks for writing options; the book's purpose is to provide you with sound strategies to be successful once you identify stocks in which you are interested. If you want to identify the good stocks, spend a few dollars and sign up for a program like VectorVest. Then you will have both the process and the content for success...

Good book to bring you down to earth
I found this book very useful in bringing people back to reality as to the speculative nature of option trading. It even includes very good advice as to how to avoid (or mitigate if you will) losses. I only gave 3 stars to this book as it does not provide strategies as to how to pick correct stocks, and as they say, winning in options is 90% stock selection and 10% option trading.

It is a good purchase for anyone starting in this business. Wish you all luck.

A Clear, Concise Overview with an *Opinion*
The strengths of this book are the clarity with which it has been written, the numerous practical examples provided, and most importantly, the opinions which the author, an experienced options trader, freely provides. Ansbacher has avoided dealing with the complexities of options such as the Black-Scholes pricing model, the greek sensitivities, etc., instead focussing on the basics: common strategies and analyzing what to do when things don't work as planned (in contrast to Fontanills' whose examples always make money!), but it is his experience which really shines. Reading this book is straightforward, owing to its conversational tone and is really like having an experienced options trader at your disposal -- Ansbacher is no flake, he's traded SPX options for years and runs a successful hedge fund....This one belongs on the bookshelf with McMillan and Natenberg...

Very shallow
Ansbacher opens by stating that "basically the strategies [for using options] are as true today as they were 25 years ago". So much for the title "The NEW Options Market". As far as rating it a "bible of options books" from "one of today's most experienced option brokers and traders" is concerned, I'd hate to see an average book on the subject.

If you want to TRADE options then forget this book. The author has the firm belief that an option should be held till expiry. He therefore fails to sufficiently discuss the effects of dynamic variables on option price and leaves the reader with as good as no tips or strategies for TRADING options.

Technical traders will find this book insulting. The author assumes for the purposes of developing his strategies that in the end we all gain no more than the market average. It may be a contentious point but enough people believe in the merits of technical analysis and would have expected its consideration in a "bible of options", with a discussion and strategies for trading options in the short term.

In the book's synopsis (above), Jack Schwager rightly points out that the book is "aimed squarely at the ordinary investor". The lavish appraisals of Messrs Maclean and McMillan only do a disservice to their own reputations.

For the more conservative 'investor' this book may be sufficient as a basic starter. Short term 'traders' will be left with little more than could have been gleaned from basic info on web sites. For me the book left important questions unanswered. Spare yourself the frustration - spend a little more money and get a more comprehensive book!

Finally, a book about futures options that anyone can use!
Mr. Ansbacher has done what seemed impossible: he has written a book about the complex world of commodity options- and more specifically S&P 500 index options- that doesn't require a Ph.D. to understand. And to boot, the ideas in the book actually work.

I am a professional commodity broker, and like many of you I've bought books about the complex world of futures trading, only to get home and find that a background in computational physics was required to get any further than the introduction page. What Mr. Ansbacher has done is to demystify a subject that many people (even professionals) don't really understand, even though they've read books on the subject and pretend to know: option trading.

Mr. Ansbacher's approach isn't what one would call simplistic. To the contrary, his approach is very exacting, methodical, and concrete. It's just that he has avoided lapsing into language that most readers couldn't grasp. And his approach will make many people who speculate in commodity options think twice about what they are doing.

The complex world of commodities is one where the investing public is constantly pitted against the professional traders, with predictable results. Mr. Ansbacher attempts to show the average (losing) trader the folly of what it is he's doing, and provide a roadmap to success and greater understanding. Anyone who wonders why he is losing money trading options should close his account, buy this book, and "go back to school." Highly recommended. ... Read more

Book Description

Explores two neglected mathematical tools essential for competing successfully in today's frenzied commodities markets: quantity, which shows the proper amounts a trader should trade for a given market and system, and intercorrelation of returns (diversification), which shows not only which markets and systems to trade, but how to diversify with respect to trading the right quantities for each market. By using these lesser known tools in conjunction with the more popular trade/system selection tools, readers will see mathematically how success in the markets can be achieved, and how``success'' without using all three is most likely incidental. In addition, non-stationary distribution of profits and losses and drawdowns are incorporated into the discussions to expose traders to the highs and lows of commodities markets and how best to leverage their assets. ... Read more

Reviews (5)

Excellent coverage of a difficult topic
... this book is incredible. I have a degree in mathematics and the principles expressed are extremely sound -- but far more important than the formulas are the first couple of chapters which cause you to view trading in a very different, and statistical, manner. Although the theories in this book can really only be applied to a trading system (which I haven't really used), after reading this book over several times I understand that there is a mathematical certainty that I will eventually lose my trading capital if I don't start approaching trading in a more systematic fashion. Anyway, I highly recommend it -- the sections on gambling theory alone are worth buying it.

Beware applying optimal f to actual trading
The problem with optimal f is that the calculation is highly dependent on the largest loss on a trade (not drawdown) experienced in backtesting. If you use optimal f and the largest loss in actual trading is greater than the loss experienced in backtesting, you will go bankrupt. Vince deals with this problem in an offhanded manner by suggesting that the actual f you use should be "padded". OK, so in the end you don't even use the actual optimal f, you pad it. And how much do I pad it by? Vince is silent on this question. So the purpose of optimal f - to decide by formula how much capital to allocate to a trade - is totally negated by the fact that you must "pad" optimal f. And you must pad it by a qualitativly determined amount because, again, Vince gives no formula on how much to pad it by. Optimal f is totally useless for system traders or any other trader for that matter.

full of fluff, platitudes, generalities, and inaccuracies
"This book is about mathematical tools". That's the first sentence of Vince, who as it turns out markets his books as heavy on math. I'd bet that he never had college classes in math, or physics, or finance for that matter. His book is full of mathematical depths like explaining why 1+2*3 is equal to 7, not to 9, or giving four reasons why asterisks is the best symbol for multiplication. Another brilliant example is when he illustrates how to combine three assets with different weights: 10% of A, 10% of B, 80% of C; 10% of A, 20% of B, 70% of C, and then three more pages of other different combinations. General math level of this book is a level of B-student in the seventh grade who has never derived a mathematical formula or proved mathematical fact. Then, considerable part of the book is authors comments on trading wisdom, like "first loss is the best loss". Then, there are some ramblings on normal ditributions and Capital asset pricing theory. About 60 pages are appendices on completely irrelevant topics like he writes Black-Scholes formula, or normal distribution, or his grandiose program duplicated in C and Basic.

The "stuff" of this book, which is the so-called "f-ratio" is explained on about ten pages. You can understand it, although it is not a clear explanation. Better probably to read it where the author got it in the first place. It is difficult to say if f-ratio has much practical importance because of assumption of indefinite divisibility of trading contracts.

Most of all this book reminded me a project done overnight for a school or college class where you put a little stuff in the middle and then pad it for volume with anything you can come up with because you need to satisfy the minimum length requirement.

Simply the best investment money management book out there
I bought this book about 4 years ago and put it on the shelf for later reading (I collect books in this subject area). I sure wish I read it thoroughly at an earlier date. Concerning the area of money management as related to investing, this is simply the best book I have ever seen, and like I said, I collect books dealing with this subject. While this book at first seems oriented towards the futures markets, its principles may be applied to any market. Personally, I invest in stocks, not futures. Just this weekend, using the theory discussed in this book, I set up a spreadsheet that I feel confident will greatly improve my trading returns in the future. Highly recommended. The material is explained very well and very thoroughly and is very convincing.

The best book on money management
This book changed my trading life. It tells why money management is as important or more important than a trading strategy itself. It also allows one to make apple to apple comparisons of trading systems; after the analysis you then allocate numbers of contracts (or shares) to each system. Without proper money management most traders, even with winning strategies, are doomed to fail. ... Read more

Book Description

Day trading is Wall Street’s hottest trend and, in The Compleat Guide to Day Trading Stocks, famed futures trader and author Jake Bernstein turns his attention, knowledge, and experience to the exciting world of stock trading. Bernstein covers timing systems, trend following systems, breakout systems, and more—all illustrated with chart examples based on intra-day time frames, and supported by results from his meticulous, historically accurate back testing.

Basic enough for novice traders—yet with enough detail for the most demanding market veterans—Bernstein’s book gives day traders the tools they need to succeed in this fast-paced, relentless market. Special attention is given to:
• Day trading the technology sector
• Risk management and diversification
• Little-known nuances of order placement Jake Bernstein (Northbrook, IL) publishes MBH Weekly, a newsletter covering the commodities and futures markets. Author of The Compleat Day Trader and Strategies for the Electronic Futures Trader, Bernstein is a popular speaker at trading seminars and regularly appears on radio and television. ... Read more

Reviews (11)

For those willing to work at day trading.
This is an excellent book. I would recommend this book to anyone who is willing to work at day trading. This isn't a book that promises riches in a few easy steps. At the start of the book, the author writes: "If you seek success as a day trader, you'll have to make your money the good old-fashioned way: you'll have to do some work."

In addition to doing a good job of providing an overview of several technical indicators (including lists of the PROS and CONS of each one), the author devotes several chapters to detailed explanations of various approaches.

He also provides information on (the indispensable idea of) system development, practical considerations of day trading, and the psychology of day trading.

Again, to anyone who is serious about day trading, I would HIGHLY recommend this book.

Clear as a Bell
This is an excellent work. As one who is considering a career change to day trading and has read many books on the subject, I can attest to the fact that this book, unlike most of the others, is a cogent, scientific study of short-term trading. Mr. Bernstein illustrates precise trading systems, with entry, exit and stop-loss indicators, and sets forth the results of his backtesting, all in a clear and very readable style. I highly recommend it.

Fuzzy Math
Although there is much informative basic material in this book, I cannot stand the fuzzy math this author uses. The percentage gains he reports in some of his examples are blatantly deceptive. An example is Fig. 5-10, where he shows the possible gains achievable using the "gap" method. He quotes a profit potential of $21062, which I dont dispute. However, there is no mention of the actual money necessary to make the trades shown, which is probably somewhere around $30,000 (minimum). This would yield a profit of around 67%. The figure, however, quotes a profit return of almost 700%!! Whether or not these figures are his, or if he borrowed them from another source does not matter. He should know better! This sort of misleading "fluff" does nothing but confuse the amatuer and leads to the expectation of gains much better than realistically possible with a small account balance. Throughout the book, math like this is used to over exagerate possible gains from day trading.

Disappointed! Too simple, sometimes naive
This is the second Jake book I had read up till now. The first one is "Investment Quotient" which I gave my highest rating. That does not lead to my negative comment on this one because of over expectation. It's just that the content and quality of this so named guide just cannot be described as compleat.

In one single book of only 200 pages, Jake tried to discuss many important elements of day trading, including history, mechanism, player characteristics, market structure and even sophisticated technical tools like Stochastics, MACD, Momentum, various forms of Moving Average and even AI. The problem is: he tried to cover so many things that the whole book becomes very shallow and far from what is needed for this highly risky game.

I dont understand why many reviewers gave this book such high ratings. I am afraid that many amateurs had already been lured to enter the game under the false illusion that they became better, if not well equipped, after reading this book, and had already fallen prey to the market crocs.

So simple, so good...
Jake has writed no news about trading world, but all that the traders need is into this book. Sometimes we read a bit of trading system, a bit of psicological approach, etc. Jake said that the book is dedicated to day traders and aspiring day traders the world over. Doing day trading is arduous: the challenge immense. The promise of victory and lure of wealth inspire you daily to confront the odds of success. Jake give us this book in the hope that his efforts, research, suggestions, systems, and methods will help us achieve our goals.
Great buy! ... Read more

Reviews (6)

Excellent Options Overview
I read this book when I began my self-education
into the financial markets back in the mid-'80s.
Now I can get a hardback copy, in 'like new' condition,
for a steal!

It contains 200-300 practical examples on using
options for all sorts of investment situations and
objectives.

If you're new to investing, it might take a while
to see the logic in some of the examples, but all
of the strategies are viable and 'make sense'.

It is an excellent resource on the use of options
for straight trading, hedging, spreads, straddles,
producing income, and insurance, etc.

IMHO "Sure-Thing Options Trading:..." should
be on every investor's bookshelf.

Undiscovered gem
This book is a steal at the current used price. It is definitely worth putting on your shelf, and reading and re-reading it. I agree with the above reviews.

Top of the Class
This book is intended (more or less) for a person beginning in options. Its no "walk in the woods" but considering the abstruseness of both the subject and the other books on the topic I have scanned, it's near the top of the class. I think, it may also be somewhat more understandable than the Option Industry Council's - Option's Toolbox CD. This whole area has been poorly explained to the beginner for the most part, which is why options are not much more widely used despite their potential for leverage and risk reduction.

Best of the multiple options books I have read.
Of the ten + options books that I have read, this was my first, and it is the best.I still refer to it often.Most of the other books are either too technical or too simplistic.This engages the reader with practicalexamples and descriptions of the types of trades that the novice tointermediate investor will use most.I heartily recommend it.

This book is very interesting and readable.
A concise, useful, and comprehensive overview of futures trading.It was quite appropriate for a beginner. ... Read more

Reviews (1)

Lessons we can learn from debacles
This book features examples of both good and bad uses of derivatives. All the scandals we read about in the newspaper are a result of certain factors which we can learn from. It is clear that each scandal has a lesson for us to learn from, but derivatives as financial instruments in itself are not bad or destructive. This book shows these lessons with simple explanations.

A must-have book. ... Read more

Book Description

A professional's guide to controlling risk when investing in the foreign exchange and money markets. Particular emphasis on the use of derivatives. The book offers a unique perspective combining coverage of all three areas. ... Read more

Reviews (1)

Good overview for beginners
This book gives a very good review for beginners investing in the US bond market only. If you are a professional it is more a dictionnary, it doesn't analyse properly instruments. I would like to finally see an author able to understand that a bond is a bond, and a book like that should focus on this and not to give us a extensive listing of all US bonds in the market ....Second USA are not anymore the only financial market in the world : so "International" chapter should be at least as important as the rest of the exercise... ... Read more

Book Description

Swing trading tips and techniques from Undergroundtrader.com--voted Forbes's "Best of the Web" for 2000, 2001, and 2002

Short-term and swing trading has become the strategy of choice for active, aggressive traders and investors. Secrets of the Undergroundtrader details the advanced methods today's most successful traders live by, from stochastics and candlesticks to 3-price breaks, volatility signals, and more.

Each of these methods is tested daily in the trenches and is designed to allow traders to more accurately time entry and exit points in bull, bear, and nontrending markets. The authors open by explaining how the methods work and then provide step-by-step directions so traders can:

• Learn and become comfortable with the method
• Implement the method in the heat of trading
• Manage the method both mentally and physically

Reviews (6)

Not a good book at all, save your money
The reviews were obviously written by the writers or their friends. Buy Trading for a Living by Dr. Elder, and High Probability Trading by Marcel Link. These are the best 2 books I've read out of 35 books I've read in 12 years of trading. Good Luck.

the definitive work
Don't know what the bloke from Italy is writing about; sounds like lots of sour grapes.

This book is without a doubt, the real deal and probably the best book I've seen to day on intraday trading. No nonsense, hard hitting and very generous explanations of fractal analysis (different time frames necessary to gauge your trades), multiple uses of indicators, exponential MA shift to predetermine moves and close monitoring of the 'noodles' (or Nasdaq futures) which are the primary movers of the market, not necessarily individual, retail traders. One thing I really liked was the strong recommendations of the authors (who unlike most trade book authors are REAL traders) to only trade ONE basket stock like MSFT and become intimately familiar with the cycles of that stock. More and more I'm realizing that is the only way to really get good at predicting moves. Saves lots of aggro.

One thing to keep in mind: this book is not for beginners, nor even intermediates. It is fairly complex stuff, though not a real hard read, and really, only more advanced experienced traders with pretty good knowledge of TA would get the most out of it. So forget the Toni Turner-type books that are much ado about nothing: this book is a must for any serious day trader.

THE BEST TRADING BOOK
Thank you Jay, and all underground traders team for sharing all new developments and extraordinary capabilities to deserve my own trading methods.
A PUP book wrote by amazing real traders.

No stars would be a better rating
This is not a TA or Day trading book, this is an insult to every serious trader. Classic example of take the money and run.
Part 1 (by Jea Yu): same tools of previous book (2MA+Stochastic), 168 pages with 13 charts. Sorry, i forgot the new innovative tool: 3 period exponential moving average with a shift -3. WOW !!!!!!!!!
Part 2 (by Russell Lockhart,Ph.D.): 174 pages, about 30 charts.
Group Orgy with Candlesticks+Lunar Clock+Fibonacci+Natural Squares+Harmonics of Range+Market Structure+Price/Time+Three-Price Breaks+ bla bla bla.
Appendix A: "These two entry techniques uses the indicators in an innovative way". First technique: 20-period EMA retracement technique (do you remember Street Smarts?). Second technique: stochastic divergence trades (very, very innovative tool, a 5-3-3 stochastic with a 1 min. chart).
Last but no least. Appendix B (by John Allen). The chart (pag.345) displays an Evening Star pattern, top reversal signal: sell signal. No, for Mr. Allen this pattern is a Piercing pattern, bullish pattern etc... etc...
This book is not worth the paper that it is printed on (recycled, acid-free paper).
Save the last scalpers !!!

What day traders need to know
I am a full time Day-Trader and utilise the methods outlined in this book. The book provides a comprehensive review of the methods used at undergroundtrader .com It is not a book for complete beginners. Some initial readings with more basic books will be needed in order for newer traders to gain full benefit. The book is excellent because it provides 2 approaches to trading. I strongly advise you to get this book if you are considering trading as a full time career, dont pay attention to people who slag off this book .I trade full time using these methods and they work. The lack of reference to Day Trading in this book is probably because of the bad name that it now has. Yet this book is really about trading not investing, mainly on an intraday basis. Moreover there are very useful strategies discused which can help the investor or less active trader to. Overall it is an essential addition to any trader or investors arsenal. ... Read more

Book Description

Have you ever wanted to spend time learning the strategies of some of the very best traders and hedge fund managers in the world? With The Best: TradingMarkets Conversations With Top Traders you will read, learn and absorb how these individuals have reached the pinnacle of trading excellence.

Among the things you will learn in this book:

Why CNBC calls Lewis Borsellino "the biggest and the best" local trader in S&P futures.

How David Kuang made over $6 million over a six month period and out-earned Tiger Woods through mid-2000 in his personal account.

What Cedd Moses does to consistently rank among the top 1% of money managers in the world, according to Money Manager’s Verified Ratings.

...and much, much more!

If you trade stocks, futures, options, in the short-term, are a daytrader or long-term fundamental investor, this book contains effective, straight forward advice to help you improve your trading results. Capture for yourself the best insights and most effective strategies from some of the best traders in the world. The Best contains fourteen information-packed interviews, the overwhelming majority of which are not available anywhere else! ... Read more

Reviews (7)

Modern Market Wizards
Written on par with the Market Wizards series, there are interviews with some of the biggest names on this era. What puts this ahead of Market Wizards, is that there are actually a number of techniques given and one can pick up a number of ideas to look for. My only gripe was that half the fund managers in this book all used the same William O'Neill CANSLIM method, looking for strong fundamentals and cup and handle breakouts. Yes, they have produced great returns with their funds as of the book writing (late 2000), but all the interviews with the fund managers seem to be exactly the same.

Good backgrounds for people who want to become a trader
This book is the equal of such classic "trader success profiles" as the Market Wizards series. Many of these profiles trace the backgrounds of very successful traders from their humble beginnings and provide a nice roadmap for aspiring traders. I especially liked the profiles of Kacher and Morales, top traders from William O'Neil's (founder of Investors Business Daily) trading business. They offer a lot of insight into what it takes to become respected traders. If you are like me, you will likely read some of the profiles several times over.

Not very readable and probably already obsolete
This book was clearly put together hastily -- and edited (if at all) the way a teenager might clean his bedroom. I found large sections of it incoherent, and even when specific trading strategies are being discussed, they are often difficult to make sense of. The book consists almost entirely of shop talk and jargon and leaps from topic to topic like a Mexican jumping bean. You get the feeling that it is exclusively for day traders who hang out in trading rooms; if you are not one of these then think twice before buying. The title "The Best" is pretty questionable too. It is not clear at all whether many of the traders being interviewed owe their success to a lasting mastery of the markets, or to strategies that happen to have worked under highly unusual conditions which have already disappeared. This book pales beside the Market Wizards classics (and even the 3rd, not-so-classic Market Wizards book). Its only merit is that it does go into considerably more detail than the Market Wizards interviews. A lot of that detail is frustratingly disorderly, but I found a small proportion of it useful, and you might as well.

Great Book.
I really enjoyed this book. It has some great insights and stories from some of today's top traders and money manager. You'll also learn some practical trading strategies too. So if you liked Market Wizards, you'll like this one.

check out the website...
You can read these interviews (or most of them) at the tradingmarkets.com website. These are the same interviews published in a book in order, IMO, to generate additional sales. Some good interviews, though, but nothing to compare with the Market Wizards books. ... Read more

Book Description

An accessible introduction to the exploding foreign exchange trading market

Getting Started in Currency Trading is both an introduction and reference tool for beginning and intermediate foreign exchange (Forex) traders. This information-packed resource opens with a clear description of the Forex market and a section of Forex terms that are clearly defined with examples. Readers are then shown how to open their own trading account with step-by-step instructions-accompanied by numerous screen shots of what to expect inside a dealer's trading platform-that walk them through the physical process of placing and liquidating currency orders. Other chapters introduce various trading strategies and tactics in detail, along with some fundamental and technical analysis to assist the trader in their decision-making process. ... Read more

Book Description

The recent introduction of agricultural options has created an exciting new opportunity to make spectacular profits at a low fixed risk. George Angell shows how to master these new instruments to earn maximum profits. ... Read more

Reviews (8)

Some good ideas
There are some new ideas about indicators in this book. I haven't test whether they can beat the old indicators. The authors also could not give such a test. But if you are a creative technician, you can learn how to create new indicators yourself. I did it. It was an interesting process but might not be profitable! It would be better if this book could have a CDROM that contains all the formula in Metastock, Excel or Tradestation formats.

Very good book about new indicators
This book gave me some new ideas about TA indicators. Although they may not beat all those old indicators, it is still useful to look at TA from other angles.

A GOOD IDEA ABOUT SOME NEW INDICATORS
The technical indicators presented here seem to provide one with better tools that he would normally obtain from the over-used an beated indicators sold on the market today. However, it is not a book where you can just read it any apply the techniques straight away. You will need to obtain the necessary programming skills or buy ready-made programs with these indicators. As such the book is more of a reference and explanatory nature rather thanl one where you can just start applying techniques immediately after you have finished reading it.

The Latest Indicators Are Not Necessarily The Best
This is a decent book. However, I really do not see what great advantage StochRSI and VHF can present the prospective reader. Both of these indicators are very jumpy, so you do get a headstart but at what cost? Slower indicators on the other hand get you in later usually towards the middle or the end of a move. Each has it's own advantage and disadvantage. Though it is important to remember that consistency is what works in the long run. I will say that Mr.Chande seems like a respectable writer. This is much more than I can say for the vast majority of authors out there. One last thing, trading is not about having the latest indicators. Trading consists of three equally important parts; methodology, pyschology and risk managment. If you are missing one you will surely fail over the long run. This book consists primarily of methodology but it is not too different from most of the material already out there.

This is an excellent book regarding indicators
I would be most grateful if Amazon can forward this message to the author:

Your book was just great. However, as I do not know how to write the formula by my Supercharts 4.0 (end of day), I just felt: I've got such a powerful weapon but what a pretty that I don't know how to operate!

So, I wonder if you could kind enough to let me know the formula (by Supercharts) of all the indicators introduced in your book.

Best regards! Looking forward to your reply soon. Thank you so much!

Omni

(Amazon doesn't need to put this message in the review) ... Read more

Book Description

A comprehensive overview of the supply and demand picture for natural resources globally.

Many analysts now believe that a tightening of natural resources (oil, gas, grains, metals) is opening the door to tremendous investment opportunity. Roland Jansen provides a fully up-to-date examination of investing and trading in natural resources through prudent, realistic, yet profitable means, including stocks, futures, and mutual funds.

Roland A. Jansen (Liechtenstein & the Netherlands) is Director of LLB Fondsleitung AG, the fund management company of Liechtensteinische Landesbank. ... Read more

Reviews (1)

Keep buying energy: Oil has already doubled in price .
"Profits from Natural Resources" appeared in the book stores in November 1998, when nobody paid attention to commodities and oil was trading at $ 10 a barrel. Now oil has doubled in price and natural resources as an investment sector has been sofar one of the hottest and best performing sectors of 1999. Say no more ! ... Read more

Book Description

This hedge fund reader presents a collection of new articles by well known, leading and respected academic and professionals with years of experience in this field. ... Read more

Reviews (1)

20NEW HEDGE FUND ARTICLES
At first I was a little hesitant on the price of the book but I was very happy when I received it.I was amazed at the 19 new articles on hedge funds written by well-known academics and professionals.I had never seen these articles before.Some articles are slightly quantitative in nature but the information in this book is extremely valuable. The list of contributors reads like a who's who of the hedge fund industry.When compared to other hedge fund readers this book really contributes to the hedge fund literature.Never before have I seen so many high quality papers in a hedge fund reader. I am convinced anyone interested in new research on hedge funds will find this book as the best reader presenting cutting edge work. Ideal for money managers, hedge fund managers, pension funds, endowment funds, insitutional investors, fund of hedge fund managers, lawyers and high net worth individuals.Congrats on a great reader.Can't wait for their next reader. ... Read more

Book Description

97% of options traders lose money. Professional trader Larry Connors shares his best options trading strategies with you to help you avoid being just another losing trader. By exploiting stock splits and pricing inefficiencies as well as applying his own strategy, the Connors VIX Reversal, Larry delivers 4 powerful options methodologies that move the odds decidedly in your favor. In addition, Larry also provides you with the latest research on the little-known, but powerful indicator, historical volatility. From concept to action, Larry explains to you step-by-step how to best use historical volatility to conquer the futures, stock, and options markets. ... Read more

Book Description

This book is an introduction to the markets in deposits, bonds, futures and swaps. It explains the purpose and design of these financial instruments, and how they are used by the various players in the financial system.

The book is for new recruits and potential new recruits in financial markets, as well as accountants, lawyers, and those wishing to understand the basic principles of finance. The author's engaging, accessible and non-mathematical style is comprehensible by those with no prior financial knowledge. ... Read more

Reviews (2)

A readable and thorough introduction to fixed income markets
Extremely readable. One could read this book in a single sitting and get a great jumpstart to an understanding of fixed income markets - the why and the how.

Wiseman has an engaging style of writing which prevents the stifled yawns normally associated with reading this genre, and keeps one turning the pages...

The book nicely covers the fundamental theory of why there exists a fixed income market, then turns to the players and discusses what they do, and finally covers some of the fundamental trading strategies and math employed to turn a buck.

Nice one...

i could not put this book down
i found this book very well written. It provides detail and yet covers that what it says it does. I find that Wiseman explains concepts in a verystraight forward way. Although i had to pause to eat and think about some of the financial products discussed such as "par yields". I found I was able to understand the book. The book contains some of the trader jargon and a outline of the players involved in the market. I think that anyone who wants to something with securities or trading should read this, before/during/after an intership. As the english say "Wiseman" is the dogs ballocks!! get this book! ... Read more