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Although a short iron condor with the inner wings being OTM by the price of the straddle, and the outer wings being one strike further out, is probably what I really want.

So, I take it that taking the opposite side, i.e sell a straddle and buy a strangle, will win 2/3rds of the time, and lose 1/3rd of the time?

Considering that if the wings are 2 SDs away from the body, 95% of the time the underlying's movement will not exceed those boundaries. Although kurtosis may affect this in practice. I got the idea from these articles: http://www.betterbetatrading.com/using-the-straddle-to-pick-your-strikes/...

I like high probability spreads, so I'm going to construct iron butterflies using a long ATM straddle, and a short strangle that's OTM by twice the price of the straddle, and short iron condors using a short strangle that's OTM by twice the price of straddle, and a long strangle that's further...

Maybe I should do that with a few hundred dollars for a year or so, and write a report

Is using the price of the ATM straddle a good way to select the short strikes for a long iron condor? That is, go long an ATM straddle, and go short an OTM strangle where each leg is OTM by at most the price of the ATM straddle. It seems that it would be effective, since the short strikes...

Yeah, and futures have better tax advantages. Btw, I'm a girl.

Yeah. .

I do want an LLC though, even if it will cost more, because I don't want to commingle my personal finances and investments with my business activities. Professional status will let me deduct my losses (if I choose to elect MTM accounting, but then I'd have give up the 60/40 tax treatment)...

Good idea. I'm going to stay away from the ES though, because that's been taken over by robots. Also, what month do most stock index futures traders trade most often?

Yeah, discipline and risk management goes a very long way. I know. My goal is to have a reward/risk ratio of at least1.5 and a winning percentage of at least 50%, while risking only 1-2% of my account per trade. So I'd be risking $200-$400 per trade to make at least $300-$600 per trade. So...

I also know how to scalp. Every trade begins as one. I'm not a novice trader, just new to futures trading.

One of my friends is a successful self-employed futures day trader, and I have him to mentor me. As long as I do proper risk management and not consistently make stupid trading decisions, I should do well, as most day trading failures are due to improper risk management.

I prefer futures due the favorable tax treatment and the 23 hour trading day.

Yeah, maybe I should trade the NQ instead.

I plan to enter a trade if the Heikin Ashi candlestick chart shows a strong trend, and I don't like automated trading systems. I'll protect myself with trailing stop-limit orders.

Yes, I see that now. Also, my max gain was not 2, it was my minimum. I hope to make much more than that during trades, but 2 points is the minimum I'll be happy with. Would you suggest removing the limit if-touched sell order? That would allow me to let my profits run.

Hi guys! I'll be beginning to trade the ES futures in a few months, and I'd like some advice on my risk management strategy: 1. Risk only 1% of my account (currently $200 as my account will be $20,000) on a single intraday trade, which means I will only be trading one contract per trade for...

So are the others. But it's not really cost we need to be concerned about, but ERoEI.

Now, I mean that if the free-market price goes out of range, it buys and sells electricity futures, modifies capital and reserve requirements, buys and sells Treasury bonds, etc, to inflate or deflate the money supply so the price goes back in range.