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This book covers only:
1. Futures trades (mainly).
2. Option writing and spreads.
But if you are not both of the above... forget this book!!! At the beginning of this book, you'll see how deeply the author discusses futures not stocks! And when you get to page number 47, you understand that this book is useless if you (like me) only buy options.
I am not saying this book is good or now, how am I to know?!! I can't even test his methodology... but in my situation this book is of no use!
Why not 5 stars? It is focused on Futures instead of Options in general.
This is only mildly annoying as most of the information is relevant to Options.
Again, very helpful book.
In each instance I have avoided options on futures. With Mr.Caplan's assessment on how volatitlity plays a key role to determining what options to sell and what price to sell them at. I was impressed at how he was able to take a complicated subject and make it easy to read.
His inclusion of articles from various other option traders was great as well.
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Leave the trading of individual stocks to professional money managers (most of whom lose money themselves); hire competent money managers to allocate your liquid wealth (not stock brokers!); and if you want to trade with "mad money," choose a book that stresses DISCIPLINE - such as "Trading for a Living."
I don't know why this isn't called 'Poker Sex and Dying.' Instead, they have 'Poker' crossed off, and 'Trading' written on top of it. As such, I expected that there was a previous book written by Mr. Anderson entitled 'Poker Sex and Dying,' which was now being altered to fit the trading arena. There wasn't. So why wasn't it entitled 'Poker Sex and Dying?' I don't know.
For the most part, this book goes over each of the 13 personality types, lists the positives and negatives, and then explains how to deal with these personality types if you're playing poker with them or selling products or services to them. (Mr. Anderson's experience has been in professional gambling and in selling.)
On the back of the book, claims are made that you will learn to boost trading profits by varying your bet (position size), trading only when the markets give you a good hand, evaluating your hand, considering the risk/reward on each trade, and writing options like a bookie. Aside from Mr. Caplan's foreward, which just briefly touches on these subjects, there is nothing in this book as so described.
Trading and poker are similar--but the similarity has nothing to do with the contents of this book. But trading is hot right now, and poker isn't. So maybe the author thought he might sell more books if it were supposed to be about trading.
In sum, this was a very good book that deserves 4 or 5 stars, but only gets 2 from me because of the dishonesty of the author and the lack of correspondence to the title and supposed subject.