lunedì 11 marzo 2013

Best people and place for trading (Part Two)

Dear Fellow Traders,

happy Monday and happy new trading week to everybody.
Let's continue with my suggestions about trading websites and author I can personally endorse because of my practical experience.

As stated also in the previous, similar post, this list is fully personal and might be damned wrong, just like as a movie your best friend suggested to you and you found to be kind of crappy, boring, presumptuous, etc. etc. etc.

Still talking about options, I would suggest also two authors that, in my humble opinion, stood the test of time and remain a must read for serious students.

First one is Lawrence McMillan, whose books on options, especially Options as a Strategic Investment remain paramount for many, many floor traders.
McMillan is very knowledgeable and competent in my opinion, however I don't like very much the sales pitches he continues to bombard you with, showcasing any sort of products, services, seminars, etc. A bit too much for me, even if not even comparable to other sellers who really have one or even more for-your-eyes-only offer each and every day God sends to our Earth.
Just next, Sheldon Natenberg and his classic Option Volatility and Pricing. He authored also another book more recently, but my suggestion is to stay away from that, since it is far inferior to his first work.

For the rest, if you start to get interested in options, you will easily see how many gurus will pop-up in your mail box. The simple rule of thumb is: 80% of them, maybe 90%, are a scam or slightly less, so the more easy riches they promise, the farther you (and your credit cards) should stay from them.

Let's move now to websites. Here the task is almost impossible, so instead of a list that will necessarily be incomplete, I chose a different approach: If I were forced to use just one trading website, which one I will keep in my "favorite"?
Answer is pretty easy: Big Mike is my undisputed choice, with the only limit of the site being the tremendous number of information you will have to deal with. My suggestion is to go for the Elite membership that, for a paltry amount of money, will give you access forever to webinars and all the contents of the site.

That's all for today folks. Stay tuned for the double doji set-up description.

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