(Part 3) Top products from r/stocks

I became interested in the markets around my sophomore year of college as well and have since spent a vast amount of time in self-study and reading about trading and the markets as a whole. If you are like me, you probably have an idea of what "stock trading" is to you. Let me promise you, your idea is probably vastly different than reality in the markets. Please, please take the advice below. I can't stress enough how important these resources were and still are for me.

Long-term investing/wealth building:

Read everything put out by Stansberry Research (I am not affiliated with them in any way)

A.) http://stansberryresearch.com/book/the-stansberry-research-guide-to-investment-basics/

B.) http://stansberryresearch.com/book/the-stansberry-research-starters-guide-for-new-investors/
-- After reading the two books above, pick up the books recommended in the back of the "Stansberry Research Starter's Guide for New Investors"

C.) Stansberry Radio also produces a fantastic educational podcast. Definitely worth a $10/month subscription. The quality of guests and interview segments are second to none.

Shorter-term trading:

Check out Investor's Business Daily (IBD) at www.investors.com

A.) How to Make Money in Stocks: http://www.amazon.com/Money-Stocks-Complete-Investing-System/dp/0071752110
-- This book probably taught me more about the stock market than any other

B.) Trend Following: http://www.amazon.com/Trend-Following-Updated-Millions-Markets/dp/013702018X
-- The book that started it all for me. The author also runs a fantastic podcast (Trend Following with Michael Covel). This educational value of this podcast is indescribable.


At a time when the stock market continues to break all-time highs, please be careful when trading/investing. Control your risk FIRST (http://www.vantharp.com/tharp-concepts/position-sizing.asp)

Feel free to shoot me a message if you have any questions. I love to talk trading!

I'm new as well, but I'm lucky enough to have an experienced, successful trader helping me along the way. If you're first starting out I'd begin by reading two great books that have really opened my eyes a lot

1. How to trade stocks
   
   
2. Trade like a stock market wizard
   
   Both written by successful traders known in the field. Jesse Livermore's book was written in the 40s and is still very applicable today (and it's interesting to read about the big players back then like railroads and steel).
   
   Edit: Also, Chart School and http://www.freestockcharts.com/platform/v1 have been essential tools in my education. If you get anything on investopedia, make sure you can verify the information as I've caught a few articles with erroneous information.

• The Little Book of Common Sense Investing - Jack Bogle. He explain why just buy and hold a low cost index fund (like SPY) is the way to go.
  
• The Intelligent Investor - Benjamin Graham. The Bible of Stock Picking. Unfortunately, less than 1% can beat the market long term doing that.
  
• The Single Best Investment - Lowell Miller. Good if you thing is income.
  
• Dual Momentum Investing - Gary Antonnacci. A really good improvement of Jack Bogle's thesis of investing only in index funds.

When BUYING puts/calls, depending on your strategy, it is always a good idea to give yourself TIME to be correct. A good book, Options Made Easy, recommends at least 180 days for buying an option contract.

If you do the calculations, options are actually cheaper (per time) in the long run than short run. 11 days does not allow enough time for you to be right!

TLDR; read Options Made Easy by Guy Cohen
http://www.amazon.com/dp/0131871358

Buy this book here

https://www.amazon.com/Lazy-Persons-Guide-Investing-Procrastinators/dp/0446531685

Tacky name but a great beginner book to get your feet wet into stocks.

After reading that, then read "Intelligent Investor".

I use TA as one engagement tool among many. One book I enjoyed was The Joy of Charting by Tim Knight. I've been a reader of Tim's blog SlopeofHope for nearly ten years. I don't follow him or any other single person exclusively but his methods have helped me develop some profitable trades.

Short CAKE and long QD are two profitable positions I have on now that I first found out about on Slope.

Disclosure: No association with the blog other than being a reader/subscriber.

• The Intelligent Investor: http://www.amazon.com/The-Intelligent-Investor-Definitive-Investing/dp/0060555661
  
• Technical Analysis of the Financial Markets: http://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661
  
• Security Analysis: http://www.amazon.com/Security-Analysis-Edition-Foreword-Editions/dp/0071592539
  
• Common Stocks and Uncommon Profits: http://www.amazon.com/Common-Stocks-Uncommon-Profits-Writings/dp/0471445509
  
• A Random Walk Down Wall Street: http://www.amazon.com/Random-Walk-Down-Wall-Street/dp/0393340740
  
• One Up On Wall Street: http://www.amazon.com/One-Up-On-Wall-Street/dp/0743200403
  

The Neatest Little Guide to Stock Market Investing is probably the best beginners book that covers most things. I don't think it is too deep on technical analysis (and I never really read that section). I might check out the Visual Investor as mentioned by VictoryGinAndJuice.

There's no set price, like I said on the post, depends on the maturity, strike price, etc. There's opensource software on github that does this type of calculations as well as websites. If you wish to dive deep into the valuation of derivatives the golden standard is John C. Hull

Understanding Options 2E https://www.amazon.com/dp/0071817840/ref=cm_sw_r_cp_api_qr.NBbF490WK3

Option Trading: Pricing and Volatility Strategies and Techniques https://www.amazon.com/dp/0470497106/ref=cm_sw_r_cp_api_Fq.NBbMR04VG1

Dynamic Hedging: Managing Vanilla and Exotic Options (Wiley Finance) https://www.amazon.com/dp/B000UG9JQA/ref=cm_sw_r_cp_api_7q.NBbS126302

These are investing and trading books I'd read. Even if you don't believe their strategy, others do, and that makes them important to read.

http://www.amazon.com/Reminiscences-Stock-Operator-Investment-Classics/dp/0471770884

http://www.amazon.com/Trading-Living-Psychology-Tactics-Management/dp/0471592242/ref=pd_sim_b_27

http://www.amazon.com/exec/obidos/ASIN/0393315290/$%7B0%7D

http://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661/ref=pd_sim_b_28

http://www.amazon.com/One-Up-On-Wall-Street/dp/0743200403/ref=pd_sim_b_26

https://www.amazon.com/Beware-Naked-Man-Offers-Shirt/dp/0449911845

https://www.amazon.com/History-Global-Stock-Market-Ancient/dp/0226764044

From Ancient Rome to Silicon Valley . . .

Buy this book

https://www.amazon.com/Bad-Idea-About-Seriously-Stunningly/dp/0306820307/ref=sr_1_5?ie=UTF8&qid=1510067738&sr=8-5&keywords=bad+ideas&dpID=5164HTgydIL&preST=_SY291_BO1,204,203,200_QL40_&dpSrc=srch

Maybe read up a bit you two https://amazon.com/Quran-Oxford-Worlds-Classics/dp/0199535957

How to Make Money In Stocks by William O'Neil is a must read for any investor. O'Neil explains the behavior of stocks and how to read charts to interpret the investor psychology behind the moves. With that information, you can zero in on stocks most likely to go up in price.

If you choose to follow O'Neil's system of picking stocks, How to Make Money In Stocks-Getting Started has more specifics on how to build and execute a trading plan.

=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=

"The Only Three Questions That Count" by Ken Fisher

=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=


Up to date and relevant to our current woes, as well as spectactular reading on divergent thinking - regarding not only the Markets, but all walks of life - and behavioral finance theory.

Oops! Sorry was listening to some 50 copied wrong link. More beginner resources at :

http://education.optionseducation.org/course/?podcasts=1

https://www.cboe.com/LearnCenter/webcast/

Books:

http://www.amazon.ca/Options-Strategic-Investment-Lawrence-McMillan/dp/0735204659

http://www.amazon.ca/Option-Volatility-Pricing-Strategies-Techniques/dp/0071818774/ref=sr_1_7?s=books&ie=UTF8&qid=1418529768&sr=1-7&keywords=options