Title: For Gamblers And Dreamers. Sad.
Product review: First, a disclaimer: I have never read this book. however, I did watch the tape that advertises for Wade's products. This message is for those of you who are not compulsive gamblers and are simply looking for legitimate trading strategies. Don't walk, RUN away from Wade Cook and his methods. Not only are his methods bad, but you will absorb his psychology-- the psychology of market loser. Initiate a position to do a covered call? (a Wade Cook special) get real. Use a covered call to hedge an already establised positon maybe, but it is flat out dumb to initiate such a position simply to collect the premium. This position is called a synthetic put. Just sell a put and you will have the same thing. Better yet, stay away for options or play them just occasionally for recreation (just like a recreational gambler in a casino, or in the same spirit you would buy a lottery ticket).
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