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Thanks for your reply Mark. If I close out the side that is closer to the money, wont i break even or win a little most of the time should the other side expire out of the money? ...by the way, I own a copy of your book and thats how I learned to trade iron condors. :D

I am new to options and have had some success with iron condors the past few months. I usually pick my ICs with the puts and calls with gammas at .10. Today, I had to close out the call sides for my Aug SPX because they were getting a little too close for comfort. I still have the puts...

I have an iron condor trade in SPX August calls at 980/990 and puts at 755/745 with a net credit of 1.55. I feel pretty safe that i will make a profit but am always worried that something could happen that plunges the market. Would buying deep otm puts around the 400-500 level for .05 be...

Hi Geez, I've just got done reading through your journal up to today and its been a great read and learning experience. You stated in some of your earlier posts that there are 4 basic patterns that you look for...are the ones that srmccoy posted above a few weeks ago the patterns that...

To calculate the high, im adding the atr to the low at the time im ready to trade. If the price bounced off the high end of the atr, ill use that as the high and go short from there. Im new to trading so if my theory is way off, please let me know. Thanks

I'm a new trader and am trying out different strategies trying to find my niche... I use stockfetcher.com in the evening looking for stocks that are trending up or down. I pick 4 or 5 stocks both long and short that appear to be good candidates. At the opening, I will wait to see what the...

Well today was the first day that I actually used this method. I went short on 200 shares of DVN and BXP and reached my buy stop on both trades. I just wanted to get input on what others thought of this system and to see if there are ways that I can improve my results and minimize risks.

Please read my original post...I am not buying and holding. My trades will last a few days at most. Again, I used ARO as an example for days when the market has an upside, I have short options as well.

Buy when the market opens but depending on how futures look, I may go short or long.

Please read my entire entry, my data is from 6/08 to 6/09. During the down months, ARO still made the weekly gains. As for ARO, I am not putting all my eggs into one basket. I'm just using it as an example. There are other options both long and short that I have found using the same...

If you were to purchase ARO at the open on every Monday for the past year, the gains at sometime during the week were as follows- 1/2% 52/52 weeks, 1% 51/52 weeks, and 2% 45/52 weeks. Even with slippage, if you were to buy at the open on Monday and put a sell stop at 1%, the chances of a win...

People are always writing about needing an "edge" to become a successful trader... I have come across an edge that I did not create but I do believe it will work. There are some stocks (ARO for example) that consistently give a 1-2% spike in price from the opening price on Monday. I'm...