The Option Advisor: Wealth-Building Techniques Using Equity and Index Options

I did not read this book for the sole purpose of trading options. I became interested in reading this book only after learning about Bernie Schaeffer and his impressive winning record on wall street and seeing him on CNBC.
This book will serve every stock and options trader well. However, this book is made complete by the chapters in the first section where he thoroughly explains contrarianism, expectational analysis, selecting the right stock, sentiment indicators, and market timing indicators. These chapters alone are pact with valuable information and have greatly improved my stock trading performace.
This book is suitable for the beginner and advanced trader. The easy-reading style together with the many useful subjects makes it easy to passover important points. Don’t be fulled by the simplistic style. Considering the many topics, the author manages to thoroughly cover each without losing the reader.
Even with the many books that I have on trading and technical/trend analysis, this is the one that I reference the most.

This book did provide some pretty good pieces of information to take away, but unfortunately, the rest of the book is pretty poor. I disagree with his trading style and philosophy. Obviously it works for him since he’s been trading for awhile, but it doesn’t seem to click with many. Also, this is a very old book. I got sick and tired of reading about this new invention called the internet and how you can actually trade on it and so forth. If a book is any good, it ought to be updated periodically. Like I said, there was some valuable information. But getting through the rest of the book to find it was a pain. If you’re going to buy it, buy it used.

I find it funny how many negative things I have been reading here and I have a few comments. First, this book is GREAT? In 4 months I made thousands of dollars by following Bernie’s strategies. Second, he actually TEACHES how to do something with your money that isn’t confusing, unlike many other money making strategy books. Third, he STRESSES over and over that you MUST CUT YOUR LOSSES when they hit 8% and let your winners run to overcome the deficit.
I wonder how many of these negative people that have posted angry messages here were too emotional and let their greed or fear get the better of them while making investment decisions attempting to follow Bernie’s advice? I learned a long time ago that being negative and only talking about the problem and not a SOLUTION to the problem is NOT the way to live life.
Please read this book, and FOLLOW HIS RULES. It does actually work. And don’t listen to Forbes, for crying out loud they have to hate anyone else that might actually compete with them and make them look bad. How many of you have made a dime off of what Forbes magazine taught you? I haven’t. Read this book…it works, but ONLY if you work and FOLLOW THE RULES!

This book is very informative and a good place for a beginner to start doing options.
It also has advanced ideas as you progress in your learning.

This book is a good introduction to simple option strategies. It presents its content quite differently than other option strategy books: it’s actually readable! Say what you will about the service (I’ve never tried it), but this book explains option strategies in a much more interesting and understandable light than other books in its genre. Bernie is quite a few steps above Wade.

In this weeks issue of Forbes Bernie and by default his theory is ranked 60 out of 65 for his trading and newsletter Option Advisor.
Over the course of ten years ranked as a high risk trader you would have lost 10% of your money following Bernie’s ideas. In fact he got the lowest grade of D.
The book follows the same vein. Nothing new and simple trying to make more money from people that believe he knows something.
Give the book, Bernie and his company a miss.
Forbes says so. My experience is the same. Beware his telemarkers too.