Investor's Library

Review of
Go Long: New Options Strategies for Buy & Hold Investors

By MikeTosaw

Reviewed by Karris Golden, Vice President, Traders Press, Inc.

Options trading seems to have it all: A balance of head and heart, near misses and sudden reversals, the possibility for nail-biting conclusions, a bit of mystery and even a few well-placed double entendres.

The same things that make options trading exciting and fun also may explain why so many of us fear the practice. From my standpoint, options are, in a word, scary.

Go Long author Mike Tosaw notes that he's heard all that before. People fear the jargon, the pace and other aspects of options trading. As a result, he writes, options often get an undeserved bad rap.

I was willing to concede I'd judged them unfairly. Prior to reading Go Long, I read about options trading to get a general education; there was no way I would consider putting what I'd learned into practice. However, Tosaw's book helped me understand options and futures on a level that actually led me to say, "I can do this!"

Go Long is geared toward people like me: Open-minded beginners who lack the confidence to try options trading. Tosaw hooked me early on by disclosing an early trading mistake. He'd been cavalier in his decision-making, which cost him. The lesson also spurred him to educate himself and make wiser decisions. He has shared this knowledge with others. Go Long outlines his creative approach to buy-and-hold investing with options.

Readers will get an in-depth look at the relationships between various types of financial products before being introduced to the Simulated Index Concept. Tosaw offers copious examples of trades in which you can use collars, modified collars, ratio spreads and other methods and products to reap respectable rewards. Leaving few financial products unexplored, Tosaw's message is to inject creativity, diversity and fun into your portfolio.

Based on his easy-to-understand writing, it's clear Tosaw earned his reputation as an experienced, well-liked educator through his natural gift for explanation. I repeatedly found myself "getting it", and it was exciting. In Go Long, he doesn't just help readers understand; his explanations, examples and sample scenarios instill self-confidence. I believe I actually impressed my financial advisor with my newfound knowledge, and that's certainly not easy.

If you've advanced beyond what Go Long might offer you, you likely know a budding options trader who would benefit from its wisdom.

More information and full details on this book are available at http://www.traderspress.com