Wall Street Money Machine, Volume 1

Rating:
Summary: Excellent Advice, Only Wish it was Longer
Review: "WSMM v.1" is an excellent book, especially for beginners. It talks about rolling stocks and covered calls, two simple-to-understand concepts in equity trading and option trading respectively. These two concepts can easily make you 10% monthly gains, as I have done for the past year. It is a simple read and gives a solid overview of Wade's money-making formula. Of course, every investor should tailor the formula to their own situation, but this book understands that and gives several different options for different types of traders.

If I had to be picky, I would say that I wish the book contained more about the trading strategies. It seemed that a good 1/3 of the book was dedicated to appendicies and testimonials. I say, "Hey, I've already bought the book, so I'm going to try the strategies. Let's not waste time on preaching to the choir!"

All in all, this book is a solid addition to any investment library. Not too technical, but has a lot of good content and ideas for everyone from the hardcore trader to the part-time investor.

Rating:
Summary: Powerful book - powerful strategies
Review: CAUTION: The advice in this book could make you rich! One caveat; you have to apply it. You can't just read the book, you have to use the information. This is the information that savvy investors always knew about but don't want the masses to know.

Rating:
Summary: I highly recommend this book
Review: I bought the original version of this book in the middle 1990's but i first heard of and bought my first Wade Cook book way back in the 1980's...The Real Estate Money Machine. A book that is still around 24 years later, and still making money for serious investors.

As I said, I bought the original version of Wall Street Money Machine back around 1996. Nobodyelse at that time was teaching covered calls, rolling stocks, proxy investing, stock splits and so on and nobody was teaching the techniques that Wade taught.

Wall Street Money Machine VOL 1 is an updated version of the first book---The Wall Street Money Machine. Same great strategies, new charts and even more information. If you want to cashflow your investments, 86 your job or just earn a little extra income, this book is for you.

If you are into the "buy and hold", "dollar cost averaging", invest for dividends sort of thing, this is probably not for you.

Highly recommended for those who want cash, cash, cash. Ka-Chingo!

Rating:
Summary: Good place to start, but you'll need more information
Review: I'll admit, this is the book that got me enthused about investing. Wade Cook is a great teacher of stock market concepts. Before reading Wall Street Money machine, the options markets were a mystery to me. Wade cleared it up, and when I was done reading the book I couldn't wait to get started. However, that's where the honeymoon ended and reality set in.

While there are a number investment strategies in this book, it really doesn't show you how to find the stocks and options which would generate profits. I got the feeling that the book was pushing me towards signing up for one of Wades services. Because I want to be a self sufficient investor, depending on a stock picking service is that last thing I wanted. I want to know how the stocks are found to begin with, not just what to do with them after they are presented.

I began losing money immediately, but I certainly don't blame Wade Cook, I blame myself. I needed more information. Way more. My suggestion would be to read the book, and then sign up for a virtual stock trading service like what OptionsXpress.com offers, where you can experiment with your trading technique before investing any real money.

I'm a bit surprised at the cult like mentality I see in some of these reviews though. The books are great, but for me, that's as far as it goes. I'd recommend Googling "Wade Cook" and reading some of the stories of people who've lost money too so you have both sides of the coin.

Despite my opinion of Wade's business practices, I'd still recommend this book for the novice investor.

Rating:
Summary: Good, solid advice. On the money. Ignore paid bashers.
Review: In Wall Street Money Machine Vol. 1, Wade Cook explains 13 powerful money techniques on cash flowing the stock market.

I have been making good consistent returns with covered calls, rolling stocks, rolling options and options on stock splits.

Wade has a way of explaining the stock market to the average wannabe investor so they can understand it and take the information and begin making money right away.

People knocksing this book probably have their own websites and products to sell.

By the way, Wade made 128% back in 1998 he didn't lose money as has been reported elsewhere on the internet nor is his company shut down, it is in ch. 13 bankruptcy which allows companies to continue to operate.

Rating:
Summary: Turn me from a trader into a cash flow machine
Review: Prior to my intro to Wade Cook, I was like a lot of people dollar cost averaging into 401 (k), IRA and regular accounts. Thanks to Clintonomics, all I saw was red since 2000 even after the spike up since 2002 thanks to Pres. Bush's tax credits.

A friend told me about Wade Cook and his revolutionary techniques. I began cash flowing the stock market instead of "buy and hold", "dollar cost averagering" etc. While I have not made the huge returns that other Wade Cook students have, I have been generating nice 10% monthly returns with covered calls and rolling stocks. With the market choppy, this is the best time to use the covered call and rolling stocks strategy. I have also used bull call spreads and bear call spreads. Wde strategies took my portfolio from the red to the black.

I also recommend Wall Street Money Machine Vol. 4 which talks about spreads and Wade's newest book and best seller Wade Cook's Stock Picking Handbook.

Great ideas t hat really work.

Rating:
Summary: Don't listen to those banker, brokers and other bashers
Review: There are a lot of people who hope that you will never read this or any of Wades books.

Top of the list are stock brokers, the ones who want to sell you their Soup DeJour and try to convince you that you need them to trade successfully.

Funny thing. The average stock broker makes around $50,000 per year. My 21 year old daughter makes more than that telemarketing for a cable/internet company. As Wade says "To whom are you listening?"

Besides, my experience is that the average stock broker gives bad advice. Once again, I recommend Wade's suggestions to find a stock broker that will make you money. Typically a full service as opposed to discount brokers.

Real estate agents and brokers are not too happy with Wade either. Nor are the banks. Why? Just read Real Estate Money Machine, Real Estate for Real People, 101 Ways to Buy Real Estate using none of your own money or Picking Up Foreclosures.
Wades methods circumvents brokers, agents and even banks. No wonder they are so upset with Wade!

Finally their are the Wade Cook copycats. These are the guys who read Wall Street Money Machine 6-7 years ago, have set up their own business and trying to be another Wade Cook. They even have their own seminars and websites!

As the saying goes; imitation is the sincereest form of flattery. Wade should be flattered.

And their are those with the "Amway mentality" that if everyone finds out how great these strategies are, the markets will get saturated and cut into their profits. In other words; hooray for me and screw you. Thank God Wade feels differently.

As for Wades stock, a lot of stocks have plummeted to pennystock status. Lucent, Nortel, CMGI, K-Mart to mention just a few. Many have also ceased trading. So WADE stock is down..Big Deal! It's still trading actively. At last check it traded over 8,000 shares.

Wade going bankrupt! C'mon, if there was any truth to that one, the bashers would be all over these boards (gleefully)with the news.

Seriously, how low will the 1 star reviewer go?

I'm not surprised at the 1 star reviewer. The fact that they are still around tells me that Wade is doing quite well and still shaking things up and that is great for us.

More to the point is that what Wade teaches really does work. I have made money on stock splits, rolling stocks, puts, calls, spreads, straddles, covered calls and more.

Rating:
Summary: Wade Cook now bankrupt?
Review: This last recession and stock market plunge certaintly took it's toll on a lot of good people. A few weeks ago I was in our local grocery store and ran in to my old broker. (During the last bull market this guy was making a six figure income with the lifestyle and toys to go with it)Interesting was that he wasn't shopping he was working as a clerk and grocery bagger for barely above minimum wage!

I agree with the reviewer who said that Wade'seminar and stock market business have absolutely nothing to do with his investment and stock trading strategies. It only has to do with the economy plus the fact that the masses were not excited about investing over the last three years as they were during the raging 90's when we had a rampaging bull market going on. Even big solid companies like Charles Schwab had to lay off thousands.

Wall Street Money Machine Vol 1 is a good book to get you started in creating your own cash flow money machine and I doubt if we have heard the last from Wade B. Cook!

Rating:
Summary: This is how I make a living, FT paycheck w/o a job
Review: When I first heard of Wade Cook, I was filled with ambiquity. Everything appeared to be too good to be true. And you know what they say about too good to be true. Consequently, I wasted the last 6 years listening to brokers and losing money on some real bad advice. My accounts are still bleeding red from their "professional" advice.

Then I bumped into a friend who told me about Wade Cook. I told her that I had heard the name before, had already lost money following my brokers advice and was not enthusiastic about doing anymore with the stock market.

Nonetheless my friend persuaded me to at least paper trade a few deals the Wade Cook way and if I wasn't happy, she would never mention Wade Cook or the stock market again. So I agreed to paper trade. While at the book store, I noticed they had just loaded a stack of Wall Street Money Machine V.1 books on the shelves so obviously a lot of people were going to (or expected) to buy this book. I went ahead and bought Wall Street Money Machine V.1 and started to listen to Wade's Wednesday nite conference calls, took great notes and went to work. Amazingly (to me) it worked! I saw tremendous gains in a short time.

I started with real money, very slowly at first and was surprised to make money on every trade. My best deal was a $3,000 profit in three days. Yes, that is after you include commissions and fees.

All I can say now is that I feel like an idiot for not doing this sooner. I have quit my job and now do this full time. I transferred my 401 (k) (still bleeding red from former equities) into a self directed IRA, sold off some of those dead broker advised "investments" and am now making money following Wade's advice. I also have a regular brokerage account.

Following Wade's advice has made all the difference for me. Obviously, there is an element of risk and Wade talks about that both in his book and on the teleconference calls.

I highly recommend Wall Street Money Machine for anyone who wants to cash flow the stock market, to earn a second paycheck without a second job or to do as I did, to exit the rat race, own your own life, stop trading time for money for an unappreciative employer and take charge of your life.

Wade's advice works, but only if you use it.