No comments about Quantum Finance: Path Integrals and Hamiltonians for Options and Interest Rates.

3 comments about The Trader's Guide to Equity Spreads: Increase Returns and Lower Risk with Option Strategies.

1. This is a reference book, an encyclopedia of options strategies. It's not a book you are likely to read cover-to-cover given its repetitive nature from chapter-to-chapter. But that's not to say it isn't useful. It does have an introduction chapter that taught me the Black-Scholes options pricing model and explains the concepts of volatility and implied volatility. It also points out how changes in volatility are likely to affect each strategy presented. The fine points of naming each strategy are explained...
   
   Condor vs. Iron Condors
   Butterfly vs. Iron Butterfly
   Standard Condors vs. Albatross spreads
   etc.
   
   To get started in options trading, you'll likely want to pick up an introduction book that explains some of the more common strategies and how to pick stocks, how to choose strike prices and expirations months, and how to get in and out of trades while minimizing risk.



2. This book does a good job in laying out the facts about all of the various spreads available. However, I found it low on insight and strategy. There are simply better books out there.
   
   I would expect someone who was going to write a book on options (an expert) to offer more insight and strategy. The title of the book seems to indicate that this is what the book provides, but I am finding it useful as only a reference guide. How the aspects of each type of spread is disseminated through the individual chapters was also a bit irritating, in that it seemed repetitive and divided into sections that gave partial information without a complete correlation of ideas.
   
   This book is written in a style that most intermediate to advanced traders will understand, and probably beginners want to avoid. But at the same time, those with a better understanding need a more insightful author, such as Lawrence McMillan's Options as a Strategic Investment. Also a good book which summarizes most all of the option strategies is Guy Cohen's Bible of Option Strategies, which is a similar book to this but in a better format. I am not saying to not buy this book, because I find you have to have several books on options trading and cross reference the information in each one. Add this book to your collection, and use it as a reference guide.



3. I have traded options on stocks for over 14 years. Over that time I have bought many books on options and their trading.
   
   This is the first book I have found that focuses on option trading for traders. The book presumes the reader is familiar with options and trading options. The book concentrates on being a guide to the multiples strategies which can be used in trading options.
   
   Most books on trading options seem merely to layout a specific trading scheme, such as an iron butterfly spread. This book provides insight into the situation where a trading strategy is appropriate. This also provides the perceptive reader insight into when a strategy is inappropriate.

4 comments about The 100% Return Options Trading Strategy.

1. On p. 96-104 the author attempts to give spreadsheet formulas to compute stochastics, Welles Wilder RSI, and two other indicators he recommends. The formulas are outright wrong for the Stochastics %K-%D signal. Had someone proofread or even tried to recreate these in Excel, it would be blatantly obvious they are wrong. Upon contacting the author at his email address, he suggested that I pay him to receive the full version of the spreadsheet for several hundred dollars, rather than giving me the correction to the wrong information in his book. Also, on p. 78, the computations of the "safe" strike prices are based on erroneous data. I compared historic data from the time frame he references and it looks like he omitted data from August 1996 and just relabeled all of the rows so that the data from Nov-94 through Aug-96 is actually for Dec-94 through Jul-96. The Mar-97 MAX data appears suspect, being 10.33 rather than 10.25. The Aug-97 data for MAX and MIN appears suspect, being 43.63 and 1.59, rather than 42.72 and 26.50, respectively. It also appears that he is using the wrong standard deviation function to compute sigma. You can't duplicate his numbers in the C2sig13 and P2sig13 columns with the data he provided in the table in Figure 5.1.

   His latest newsletter shows that the "safe" strike price for the February 2000 short puts was 720, but if you followed the instructions in his book, you would have sold the Feb 745 puts short and been out 22 points per contract on naked puts, or you would have lost your entire spread when the market dumped from 752.19 to 728.52 on options expiration Friday in February. His system for mitigating losses would not have worked either because when the market broached 745 that day, you would have paid about 6 points to close out a losing spread that you may only have received 1-2 points to open. These spreads he advocates are based on some very fast and loose statistical claims and not very thoroughly explained at all. Very dangerous!




2. I found this book valuable in the development of my options trading strategy. I do not follow it to the letter but I think it provides great food for thought. It's not great, it's not perfect, but it's not horrible either for someone looking for ways to trade. Dr. Schiller has answered my e-mails to him every time I had a question. In summary, I believe there are better ways to trade credit spreads but I probably wouldn't be doing it at all were it not for this book.



3. Mr. Schiller has a PhD, but his book does not reflect much quality control went into its composition. There are missing figures, but yet referenced in the text. The book lacks an index. Several words are abbreviated, but there is no apparent explanation for them. I get the feeling this book went from first draft directly to publication. The hefty price is not justified. I am glad I only borrowed it from a library. The one purpose of the book seems to be to promote Excel spreadsheets he has created to track the OEX; and their prices are equally inflated. Why must you, Mr. Schiller, sell them from Spain? Isn't trading the OEX sufficiently profitable by itself?



4. Non-conventional terminology. Worst book, on options, I've ever read

5 comments about Trade Like Jesse Livermore (Wiley Trading).

1. Explains system and psychology of one of the world's most famous traders - especially useful in today's market



2. i have read all of richard smittens books about jesse livermore. they are all very much the same. they have identical passages in different order. the trade like jesse livermore i reckon is the best or 2nd best after how to trade in stocks - due to the flow/order. i reckon first read reminiscences of a stock operator and then one of richards smittens books. richards smittens books is also about 60% repititive to reminiscences of a stock operator which i think is okay



3. If you thought you would learn the actual methods of how Jesse Livermore traded, you are WRONG.
   
   Gives a quick outline of how Livermore traded, like 'pivotal points' but teaches you NOTHING about how to apply them.
   
   Illustrations are very poor, just a few trend lines which any newbie could have drawn straight out from stockcharts.com
   
   The only moderatesly useful point may have been the emphasis of the 'time stop' where Livermore states that if the stock doesn't react in a few days, get out.
   
   The "Livermore Secret Market Key" was a total scam, once again showing and teaching you NOTHING.
   
   Repeats about 1/4 of the book in the summary by directly cutting and pasting.
   
   If you would like to learn more of Livermore's methods, go read Reminescences of a Stock Operator.
   I'd rather have read that one more time than waste my time and money on this book. Huge buyer's remorse!



4. I mean either Smitten does not get it himself or he just plain does not want you to know....
   A good book on the rest and the phsychology....



5. If you read Reminiscences of a Stock Operator, then you know Livermore's rules. As for the secret trading method (Smitten calls Pivotal Point Trading).... it boils down to trendlines. That is it. The book is so similar to the books of William ONeill I was expecting an IBD subscription card to fall out: 1. Watch the top industry groups for market signals. 2. Watch the top two stocks in each market group. 3. Cut losses at 10% (IBD is 8%). 4. Watch for volume to be up at least 50%. 5. Do not average down. 6. Buy on breakouts to new highs. etc, etc, etc.

5 comments about Trading With The Odds: Using the Power of Statistics to Profit in the futures Market.

1. It's extremely unfortunate that the negative comments are likely to detract from the value of the book. To be upfront, the book doesn't layout an explicit step-by-step "how to" calculate the proprietary indicators provided in this book. However, that doesn't mean the information is NOT there or could not be derived from the information provided. Those that complain this is simply "marketing" hype for her company - again, this does not mean that the information provided is not of value to a trader. And what's wrong with profiting from one's ideas - give me a break. The information is there is you want to invest the time and energy to understand what she's talking about.
   
   Those that wish to complain about this book appear to have a: lack of basic familiarity in elementary statistics and probability, b: lack the desire to do some homework on their own and c: simply want to "plug and chug" the latest and greatest "holy grail" formula for instant wealth. I can promise you this book is not for anyone with this perspective.
   
   Any one willing to invest the time and energy to gain a better understanding of what the text of this book presents will benefit substantially. Ms. Kase has an engineer's talent to say much in the fewest words possible. Skip over a sentence or two, or breeze through some text in the hopes of getting to the hidden formula, you can be assured you will miss something significant or lose the main point presented.
   
   For those out there looking for the next great "holy grail" plug-and-chug wealth beyond your dreams formula - I assure you will be disappointed with this book. However, if you are interested in pushing your brain cells a bit and are willing to invest some sweat to learn something new, then you'll benefit from the book.



2. I was really disappointed in this book. As I was reading it I kept asking myself when is she going to explain how to calculate the indicators. And there you have it. She doesn't. You have to buy them. It's pretty clever really. Write up some proprietary software/indicators, and then write a book showing how well they work with cherry-picked examples. The book provides the advertising for the real product.
   
   Overall there are some interesting ideas in this book but unless you purchase the indicators you're not going to be able to use them.



3. The book might contain many good ideas. But there is no way to verify these ideas with back testing without the formulas of the Kase specific indicators. Kase lists the calculation of the traditional stochastic indicator, which is implemented in almost every charting package. But she doesn't say how the kase peak oscillator is calculated!!
   2 stars for the good ideas including the Elliott forcasting rules



4. I sensed that she has tremendous amount of trading experience. Simply put, she knows what she is talking about. Along with, not in particular order, Constance Brown, Linda Bradford Raschke, and Robin Mesch, Cynthia Kase once again proves that lady traders are as good as,if not better than, gentlemen traders. Job well done, Ms. Kase.
   
   Keith J. Chung



5. Below is a review of this book by a "Ron Davis" who styles himself as "a proud member of the Market Technicians Association." Bzzzt! I am the only current or past Ron Davis in the Market Technicians Association. Interestingly enough, I also have a successful real estate practice. Quite the coincidence -- makes one wonder.
   
   The "RD" below finds the book to be without substance. Perhaps what one sees depends, in part, on what one brings to the book. I quite agree with the reviewers who say this is not a book for beginners. I had a couple of "aha" moments reading the book, one about Kase DevStops (I'd better have yet another look at those) and one about one of my own proprietary indicators. A few minutes of programming and, by golly, I was able to derive a bit more useful information from my own gadget.
   
   What's this book good for? (1)A trading methodology or (2)ideas about ideas. I'll not broach (1) -- the book does that. I have already mentioned two things that jumped out at me. I also want to take a look at her variation on Elliot Wave counting and targeting. And, on a second read, I may find other things I'd like to fiddle with a bit.
   
   Criticisms: My criticisms fall into two categories (1)purist mathematics nit-picking (I am a mathematician by training) and (2) my laziness/the book's lack of complete exposition. The mathematical nitpicking is not relevant except to a mathematician: for instance, the number of random distributions which are not Gaussian/Normal are at least an order of infinity larger than the number of Gaussian distributions. Should the person who is reading to learn of trading care? I wouldn't think so. My Laziness/the book's incomplete exposition: What? I really have to turn on my brain and think through how to implement the ideas? No cookbook approach here? Of course, if one were being rational, not lazy, one could point out the advantage to having to think: one might actually learn what it is one is doing. And, one might even think up a new idea, heaven forfend.
   
   In conclusion, not only do I resent the attempted identity theft by the person below, but I especially resent being represented as such an empty-headed fool that I cannot see the considerable value in this book.
   
   The REAL Ron Davis, CMT, MAI, MA

4 comments about The Best Trendline Methods of Alan Andrews and Five New Trendline Techniques.

1. Mikula's book goes straight to the substance of Andrew's trendline methods and introduces the reader to it's applications. Besides that, it reviews other techniques developed by his team which expand the trader's hability to combine trading concepts.
   
   Very good
   
   Oscar Schult



2. I really wanted to like this book and i really tried to apply the methods to my trading but, it is not very accurate at all you might hit 1 out of 20 trades (which is not a very good ratio too me atleast). And the pitchfork is in every charting package that you buy so, i guess the market just fades thease moves.



3. if the answer is yes,then I recommend this book for you. its very well written and its the complete pitchfork guide as far as I know. technical analysis trader, at one time or another, relies one trendlines to make his/her forecasts. the book gives you some methods, but you should add what works in your own trading system/style. I suggest to combine trendlines with osillators(I prefer slow stochastic), moving average (macd is the greatest)and chart patterns (double tops/bottoms,head and shoulders ..etc)to avoid bad entries. I don't recommend that you ignore normal support/resistance trendlines. they do work if you know how to apply them ,trader needs time and patient to master trendlines.good trader keeps learning. good luck



4. Easy read, very informative and seems to work best on FX. Nothing new about fork TA but it is a new twist with the parrellel fork trend lines and trigger points so easilly recouped cost of the book on my first trade so surely this is the best way to recommend it....this book makes you money !

5 comments about Intelligent Futures Trading.

1. This is an outstanding book. Many say that his other book is better, but I don't think its necessarily that it's "better", as it is essentially the same concept, although just different levels of depth.
   
   I consider this as the Laconic version of Chick's methods and teachings.
   
   I am telling you- don't just read this book- APPLY IT. Don't be foolish and gloss over it as many "traders" do and run your mouth negatively as one reviewer here did (he is the one I'd like to ask if he has traded before) without actually reading and understanding what the author is telling you. This is a complete guide, TDBD expounds on his teachings. Get both books for the different perspectives they offer.
   
   Like I said, this is the Laconic version of TDBD, and, like the Spartans from which "Laconic" is derived-this book is efficient and powerful.



2. I cannot believe the other reviews. Have any of you ever traded before? This has to be one of the worst trading books I've ever read. I've read hundreds and have an extensive library, as well as over 15 years trading experience.

   He gives many ideas and suggestions of how to enter and exit trades based on SMR Charts, but nothing concrete because there are so many variations you could "try". Basically trade with the trend and "try" to buy a pullback. Any other book on swing trading would be better and more useful. This is just swing trading using SMR Charts and their indicators, though you can use your own similar indicators. This book is very expensive for something you can get out of any swing trading book, which would give you a lot more value and insight for your money. On money management, same thing, vague - not much more value than telling someone "don't trade too heavy" and to "go with your best guess".

   You might notice that there is not one single endorsement from anyone on the back of the book. With someone described as a "top notch sought after money manager" and a "big time trader" doesn't it make you wonder why? Don't waste your money.




3. This book is especially useful to anyone who has ever traded the markets using the SMR (Security Market Research) charts and timing oscillators. As one who has based his trading on these indicators over my "on again-off again" trading career that has spanned 30 years, Chick's approach and explanations of how to use these momentum based indicators to trade the markets was truly enlightening. I have read the book several times and it has been really useful to subscribe to Chick's daily real time e-mail commentary on 17 commodities which further clarifies the concepts explained in his book....

   One warning: When you first read and look at this book, you may not realize just how valuable and powerful the information being presented really is. But hang with it and the investment in time and energy will be well worth it if you review, study, and use these concepts.




4. Simple but effective. Unlike other authors, Chick managed to stay always focus on the subject and does a very good job in explaining with great detail his techniques. I highly recommend it.



5. I have taken one of Chick's classes and automated his trading strategies for day trading the S&P's. After thousands of test on nearly every indicator and system I know, his is still the easiest to understand and very profitable. The system works on all time frames and allows you to predict a few bars ahead.

2 comments about The Options Strategist: How to Invest and Trade Equity-Related Options.

1. This book is a little bit on the basic side, but gives a nice review of different option strategies. Nothing advanced, but still a nice summary of different strategies.



2. I've bought and sold many options using a variety of strategies. I enjoy reading as much as possible on options strategies because of the complexity of the subject. The author writes in a very clear logical sequence starting with Options 101 and then rapidly moves on to the more advanced strategies. He doesn't lose you in technical terms but keeps your interest as he walks through Options 401 (more advanced), and onto the more complex stuff. If you want to understand all of the "greek" options stuff, he explains it in an understandable format. Most options books I read get too generic and I lose interest but this book was different and I actually enjoyed it. I have 5 options books on my shelf right now and this one is the best of the group by far.

No comments about The Blank Swan: The End of Probability.

5 comments about The Tao of Trading: Discovering a Simpler Path to Success.

1. This book was good in places and bad in a whole lot of places. Here are the pros and cons.
   
   Pros:
   -This book definitely had some parts in it where it introduced some pretty neat concepts that could have been really expanded on. The whole dying before death is a very applicable art to trading, and losing the ego can be discussed at length to help the trader achieve better results.
   
   -Some of the quotes in this book were very applicable and thought out; I really enjoyed some of them and read some that I had never heard before.
   
   Cons:
   -This book is basically a rehash of other books written on the subject. The author is CONSTANTLY quoting other books, going so far as to actually have two whole pages devoted to market wizard's quotes. Using quotes in writing is great, adds credibility, gives other perspectives, but I literally felt like I wasn't reading HIS book, but other's.
   
   -Basically you will not find much Taoism from the author in this book. He quotes the Tao Te Ching quite a bit, but I don't really think he understands what he is talking about. He also takes a lot of stuff from Zen Buddhism, which is NOT Taoism. They have many similarities, but the author does not take the time to really give the reader the sense that he understands the differences. He kind of just lumps all that "east" stuff into one category.
   
   -The author repeats himself quite a bit, I don't know what the editor was really thinking after reading this book, but the copy paste buttons should not be used that liberally in any book. He repeats things in lists in different ways over and over again. What exactly is a winning attitude? Well it's the attitude you have when you are a winner of course. Way oversimplified, way too many nonsensical one liners, and if this guy has really been in the business for this long, I get the sense that he really didn't write this book (how can you be that experienced AND that ignorant).
   
   -The author constantly contradicts himself, one of hand he will say that to be good in the market, you much be positive, have a winning attitude, etc, then will say that you must be a good loser. It's like he wrote half of the book, then had some two bit inspirational writer fill in the rest with your generic, useless feel good jargon.
   
   -The author goes on for a good while about jazz....yes jazz... I don't know what he was thinking, but I guess telling me how certain types of jazz sounds in writing makes me a better trader. Why do I care that Jazz player X sounds like Z. Isn't writing about music totally defeat the purpose that you are trying to get across in the first place? I mean sure, reference jazz, go into it a bit, but page after page of "the smooth beat of Miles Davis, or the Strong beat of Armstrong..." doesn't do ANYTHING for me reading the book. Am I supposed to feel that improvisational nature of jazz now? I don't know...
   
   -One of the worst things that this author did was use the classic "Leading professionals say..." or "Top traders I know think..." This just DESTROYS credibility. He can quote the whole world through his book, but cant give a citation here? How are we supposed to know "top traders" said that? Its 8th grade essay writing at its finest here.
   
   To sum it up, don't buy this book, don't waste your money, I am not usually this negative, but this book is truly abysmal and if you enjoy it, you have a long way to go in your trading. If you are really looking for mysticism in trading try "the Psychology of Trading," it delves into meditation and the intuitive nature of trading, and the author knows what he's talking about.



2. Obviously some of the reviewers below "missed" what Robert Koppel is communicating in this book. That is understandable, as most traders never become successful anywhere near what is possible. Don't be deterred, this book has a huge amount of real insights about the nature of trading, and the necessary skills needed, the Tao simply is a way of explaining what it takes.



3. This is an excellent book. It almost reads like a poetry book for traders. It is not merely about the Tao...it unfolds and reveals ideas and insights like the Tao itself. This may sound somewhat strange but if you are interested in creativity and trading and its relationship to some of the great insights of the East the subject matter here will be found useful and worthwhile. Also, check out Mc Call and Steinhardt.



4. If you really believe that the Eastern philosophy of Tao/Taoism can enhance your success in trading, buy and read "The way of the warrior trader, the financial risk taker's guide to samurai courage, confidence and discipline" by Dr. Richard D.McCall. Dont waste your time and money on somebody who knows so little about Tao and just does copy and paste Chinese adages and his own old writings here and there.
   
   p.s. I had read Koppel's other books before and had rated them as two or three star stuff. I am so sorry that I had not disciplined myself enough to stop making another unnecessary loss for being attracted by the appealing title of the book. The good thing is: I borrowed this one from the library.



5. Koppel may as well update a single book with new volumes rather than writing a new book with a new "twist" on it. A book on "Tao", and "intuition" relating to trading.

   What's next, "physical strength" related to trading? I don't know how serious Koppel is regarding to Tao. It seems like he found a philisophical and complex subject, like ancient religion, and found whatever way he could to relate it to trading. His link was a waste of time and served no purpose. Drop the Tao, stick with the important topics, stay serious. I got no similarity between Tao as he describes it and anything applicable in my trading.

   I can imagine his next book: "Gardening and Trading" where one would compare the features of "gardening" to "trading" and the demands and features that are similar to both of them. "You must trim dead leaves in your garden. You also trim losing positions in your portfolio. Only open new trades when they show promise and watch it bloom into a wonderful gain, as you would buy a seed to watch it bloom into a wonderful plant."

   They don't have anything to do with each other, yet, the author goes out of his way to find a parallel between Tao and trading. The author tells how Jazz is also like trading.

   Please, stop writing books with the same "lists" of winning trader's personality, what you do when you are upset, right-brain, left brain features, and just update one title if you have anything new to say.