Trading Iron Condors. The Nitty Gritty.

The following forum thread (especially the most recent posts on page 2) has taken on special importance. If you have not been following, doing so will be well worth your time.

I’m going to follow more trades, with an emphasis on trades requested by members. Based on what I know of your preferences, it makes sense to select iron condors using Index options.

Look for a new trade later today.

The idea is for us to have discussion with more emphasis on practical items. That includes my thoughts on how specific trade decisions are made. That provides the perfect opportunity for us to interact. The fact that we can interact and discuss trades is one of the things that makes Options for Rookies special. The limited number of members allows each of you to get detailed replies to questions – but first you must ask. Your input is important to this process so that I can take the discussion to areas of special interest to YOU.

It is easier for me to give a lecture and tell you what I want you to understand today. However, it is far more educational when you get to ask questions that may clear away some fog, or help you gain additional insight into something that has been troubling. I’m here to help.

Less experienced traders probably don’t have a good idea concerning which questions to ask. Don’t let that bother you. When something is not crystal clear, say so.

I plan to share more of my personal investment philosophy with this next trade(s). The objective is NOT to create more MDWs. Instead, it is to present you with solid trading ideas that will expand your knowledge base and make give each member a better chance of becoming a successful trader. This is especially true for the rookies. Preventing the formation of bad habits represents a big advantage for any trader. THINK for yourself. Adopt any ideas that are reasonable. Reject others. But always – feel free to comment and ask questions.

Live meeting

There is a live meeting today, Oct 27, 3:30 PM. That meeting can be devoted to a discussion of how to proceed with this educational mission. So please bring your ideas, or post questions here – if you cannot attend.

Beginners

I understand that many members are option beginners. Thus, you are not yet ready for this discussion. That’s okay. I urge the true Rookie to view the Introduction to Options videos and let me know what I can do to make things easier to understand. I encourage you to proceed at your own pace. However, there is a lot of information and I understand why anyone would want to move quickly. Try to have some patience.

Please believe this: Understanding the basics is essential. Take your time and you can join the iron condor discussion later.

Iron Condor Course

Part 05 was added recently
Part 06 was published yesterday.

Take a look at part six. It is targeted to beginners and shows much of the the process by which I select my iron condor trades. That video can be considered as an introduction to today’s Track that Trade.

3 Responses to “Trading Iron Condors. The Nitty Gritty.”


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