Top 3 Most Instructive Options Trading Guides of 2017

Top 3 Most Instructive Options Trading Guides of 2017

WARNING: Beware of The Free Options Guides. See Which Options Books & Guides Are Written By Credible Authors.

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Options trading has been gaining popularity over the last few years, as a powerful tool to help add more versatility to people’s portfolios. Options can be used to hedge against risk or, if done correctly, can help generate income on a consistent basis, without having to predict which way the market will move.

Naturally, we were curious to see what all the buzz was about. So, we searched around the internet to see what we could learn. With such a drastic difference in opinion, we decided to find out for ourselves if options trading had a place inside the average investor’s portfolio.

We evaluated 37 guides on options trading, some free and some paid, to determine which guides offered up the best information for beginners. We wanted a guide that would teach us the basics, dive into strategy, and then give us useful tips for how to properly incorporate options in our own trading. It also had to be explained in a way that was easy to understand. We’re not finance majors over here!

Ultimately, our goal was to determine if we liked the idea of trading options, so finding a reliable source of information was crucial.

We started by going to websites offering free guides on options trading in exchange for our email address.

Not surprisingly, the free guides we found turned out to be less like guides, and more like long-winded sales pitches. They’d offer up a tiny amount of information, but by the end, were almost always trying to sell us on a software or newsletter subscription. None of them really went into much strategy. Instead, they’d skim thru key concepts, giving up very, very little detail along the way. We learned the hard way, that there’s a reason these guides are free.

It became very clear once we compared them to the guides we later purchased. The difference was night and day. The purchased guides were far more robust in terms of content, and typically went into far greater detail explaining strategy. Not only that, but many of them gave strategy recommendations based off individual circumstances, risk tolerance, and what the market was doing.  By the end of our search, we’d found several guides we felt did a good job at teaching us options. Most of them covered the same material, but what was interesting was the difference in opinion when it came to strategy. It seems there’s more than one way to skin a cat when it comes to being a successful options trader. But that’s the problem with opinions– everyone seems to have one. And the last thing we wanted was to learn options from non-credible sources. So we evaluated each of them based off the following criteria:

How Do I Know My Options Trading Guide is legitimate?

  • 1. The Author

    The most useful investment guides are written by people who not only understand the investment strategies, they have a proven track record to show for it, they also understand their audience, and can relate to their investing needs. Unfortunately, 95% of guides are either written by those who aren’t credible, or can’t explain their strategies in an easy to understand format.

  • 2. The Guide is Robust

    A good guide will help beginners learn the basics, or give advanced traders new investing ideas. A great guide will do both. Look for a guide that clearly explains key concepts to beginners, but gradually works its way up to advanced tips and strategies that even the most advanced traders can benefit from. This will often extend past typical textbook knowledge, and dive into specific tips, tricks, rules of thumb, and personal experiences the author can share to give readers a clear-cut recipe to their own success.

  • 3. It Stands Alone

    We found dozens of guides promising to teach us how to be successful options traders, only to discover they were nothing more than clever sales tactics in disguise. They’d give you a brief overview of a few strategies, but then try to upsell you on a software or service. A great options trading guide should stand alone, and be just that–A great options trading guide. A good way to tell before you purchase is to read verified reviews first.

  • 4. It’s Applicable

    Great guides aren’t written like novels. They’re filled with interactive material like visual charts and graphs, real-life trading examples, and quizzes, along with detailed explanations to compliment. Give yourself the best of each, and look for a guide that goes beyond giving you options trading terminology

  • 5. It Teaches Proven Strategies

    It’s okay to get a little creative when it comes to investing. But when you deviate too far from what’s been proven to work, you could get yourself into trouble.
    Look for a guide that teaches proven strategies that don’t deviate too far from the norm. Sure they can have a different outlook, or place a different spin on an existing strategy. With options, that’s certainly possible. But the overall strategies should remain fairly well-known. Chances are if your brokerage firm hasn’t heard of it, it’s not good.

  • 6. Money-Back Guarantee

    Unless you’re gambling with penny stocks, investing strategies take time to pay off. Look for a guide that’s confident you’ll see the value in it, and will offer you a refund if you don’t.



BEWARE
of guides that make bold promises with little evidence to support their claims. As with any investment strategy there will always be risks associated. Any guide promising “risk-free” results is not being truthful. You should always do your research beforehand, and ask your brokerage firm if the strategies being outlined are legitimate means of investing.BEWARE of guides that ask for your money to invest on your behalf. Only certified money managers you trust should be given the task of managing your money. In fact, if any guide leads to a request for any of your personal information, you should avoid it at all cost.BEWARE of guides promoting the usage of unknown 3rd party trading platforms. These are almost always not legitimate companies.

BEWARE
of companies that offer a guarantee but hide details in their terms and conditions that make it difficult to receive your money back.

The Results Are In…

Top Pick

4.6/5 stars

#1: How Options Trading Made Me A Millionaire

Best Options Trading Guide For Beginners and Advanced Traders. Everything From How To Get Started To Advanced Strategies & Tips To Make Money Today.

In our research of the best Options trading guides, Joshua Green’s How Options Trading Made Me A Millionaire is the gold standard for learning to trade options. This is a “no frills” straight to the point guide on options trading. Written by professional options trader Joshua Green, a 33-year-old, self-made millionaire, who went from struggling telemarketer to successful financial consultant thanks to his experience with options trading. He’s now offering training courses, and an in-depth options guide, so that anyone who’s serious about making money, can do what he did and copy his success. Split up into 4 defining sections, this guide did way more than lay out the basic concepts of how to trade options.

First it dives into the history of options, where they stem from, and how they were used initially.

Then the guide goes thru all the terminology needed to understand and execute options trades. It even goes so far as to dissect options chains, providing real, tangible, examples so anyone unfamiliar with options will be able to read real charts moving forward.

But here’s where we think the guide went further than the others. Josh gives us his recommended strategies—the very same ones he uses in his portfolio.

With so many different strategies out there, it can be overwhelming to try and pick which ones are right for your account. Well, Josh gives us his 3, and it just so happens, they’re perfect for satisfying the needs of any trader, whether they’re conservative, risk adverse, or not.

And lastly, and probably most importantly, Josh talks options trading safety, and how he’s managed to keep his profits, and the list of rules he believes every options trader needs to follow, for consistent profiting.

In a nutshell, this guide will give you the history of options, the lingo needed to trade options, the options strategies he’s had proven success with (and still does) and lastly, a string of safety measures he feels are paramount for options traders if they want to be successful long-term. All in all, How Options Trading Made Me A Millionaire is our #1 top choice.

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4/5 stars

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

Guy Cohen presents today’s most effective strategies for trading options: how and why they work, when they’re appropriate and inappropriate, and how to use each one responsibly and with confidence.

Updated throughout, this edition contains new chapters assessing the current options landscape, discussing margin collateral issues, and introducing Cohen’s exceptionally valuable OVI indicators.

The Bible of Options Strategies, Second Edition is practical from start to finish: modular, easy to navigate, and thoroughly cross-referenced, so you can find what you need fast, and act before your opportunity disappears. Cohen systematically covers every key area of options strategy: income strategies, volatility strategies, sideways market strategies, leveraged strategies, and synthetic strategies.

Even the most complex techniques are explained with unsurpassed clarity – making them accessible to any trader with even modest options experience. More than an incredible value, this is the definitive reference to contemporary options trading: the one book you need by your side whenever you trade. For all options traders with at least some experience.

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4/5 stars

#3: Options Trading for Beginners: Learn How to Get Started and Make Money with Options Trading.

Options Trading for Beginners: Learn How to Get Started and Make Money with Options Trading is written by Michael Johnson, is a good introduction to options and the basic strategies.

We really liked this book for a few reasons. For one, it was laid out simply, and written clearly. There was a ton of good information for beginners, and the strategies he discusses make sense. We also liked he price point. We definitely felt we got a ton of value at only $19.97.

It also takes a step by step approach for laying out each of the options strategies. Conceptually it’s great, while not overwhelming the audience with the technical.

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