Is Options Trading For Dummies Helpful?
Options Trading For Dummies (also known as Trading Options for Dummies) is a well known book that explains the essentials of earning money with options. But it is not an options trading tutorial as it doesn't go into specifics. If you are trying to engage in this field but lack the expertise, Options Trading for Dummies is a lesson you can start with. This resource is basically a beginners guide to this area, as the name implies.
On introductory lessons of binary options trading for dummies, numerous terminologies of options trading needs to be explained to the options traders. Very first of them is option itself. Binary options are contracts that give the holder rights to purchase or sell certain stocks at a set price.
It deals with the three main types of options available, which are stock, index, and ETF options. It also discusses options contracts, and how to learn the lingo so that you realize what you are signing.
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This will prevent you from getting yourself into any unnecessary deals because you did not understand the lingo. It talks about methods for minimizing your risks while trading, and how to trade options on exchanges the best way. These are some of the more essential topics covered in Options Trading for Dummies, although you can find many more.
As far as whether Options Trading for Dummies is useful or not, that is up for debate. Keep in mind that this is mainly focused on option trading, and it considers the person reading it previously has the basic stock investing understanding needed. Options Trading for Dummies is penned more for somebody already earning from stocks, and trying to expand into options.
So, if you do not understand much about stock investing, you will need to learn about it before going through Options Trading For Dummies. Luckily, you can learn the basics of stock investing online, so this should not be difficult. However, if you wish to learn about this in this book, you will be disappointed.
One of the major problems with Options Trading for Dummies is its inability to focus on fundamental analysis, as it only covers technical analysis. In short, it is written more for the short-term, day trader rather than the long term stock trader. Also, Options Trading for Dummies does not mention selling puts, which you would hope a book on options to cover.
All in all, Options Trading for Dummies is an excellent book if you need definitions on options, and to learn the basics of the field. However, if you need specific strategies, you will be disappointed. Fortunately, there are many sites on the web discussing specific strategies.
Using options, you'll be able to earn a profit in a downside, upside or sideways market. This informative article includes information about how to invest and trade options with low risk in spite of the market direction.
Simply, if you are a novice option trader who is already earning money with the market, but want an introduction to the field of options, Options Trading for Dummies is for you. But if you wish to know detailed and specific strategies with comprehensive instructions, then you're better off with an options trading course. Options Trading For Dummies will only give you all the background information necessary to form your own options trading strategy.
Is Options Trading For Dummies Helpful? Options Trading For Dummies (also known as Trading Options for Dummies) is a well known book that explains the essentials of earning money with options. Read this article if you like to find out whether it's the book you're searching for if you want to learn about options trading.
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