couple noob questions

poker1O1 · #1 10-21-2005, 12:00 PM

1) What are some good books u guys recommend about options trading?
2) What is the best site to keep updated with options?
3) What kind of programs do you guys use/recommend to monitor abnormal changes in the market? how much do they cost?
4) I am currently a Finance major and am very interested in the stock market, is this the best major or direction towards being a stock broker or even generally associated w/ the stock market?

poker1O1 · #2 10-21-2005, 07:44 PM

any help would be greatly appreciated, thanks [img]/images/graemlins/grin.gif[/img]

hedgeyerbets · #3 10-21-2005, 08:01 PM

1) Hull covers the theory and some basic applications. If you're in school, this is the book to get. It's a reference used by every trader at the firm I work for.
2) Sticking to reading books until you graduate is a better idea IMO.
3) Yahoo finance is fine. Get an online subscription to WSJ, IBD, and/or fin times if you want and spend some time reading up every morning.
4) Being a stock broker is kind of a crappy job. Get good grades, if you're not at a top school try to transfer to a better one, and read the stuff listed above. Internships are huge, so do all you can to perfect your resume and interview skills. Oh, and math or physics is likely a better major to get into the trading world depending on what school you go to.

I just went through the job search process last year so I'd be happy to answer any other questions you've got. Fire away.

lastsamurai · #4 10-21-2005, 10:05 PM

What i learnd about being a stock broker is its 90% sales...10% securities analysis. You could be the best analyst in the world but if you cant close accounts you will be working weekends and nights (as a waiter). My advice for you is to look into becoming a CFA. This is probably the easiest way to get into this industry.

Sniper · #5 10-21-2005, 11:31 PM

The Top Option Books are written by McMillan.. after that read schaeffer... and check out their websites.

To be successful in options you still need a firm grounding in how the markets work, so you should checkout the book list I've posted here a few times... link