https://www.sandvand.net/2023/04/30/how-i-trade-the-0dte-breakeven-iron-condor/
The stats are interesting. What do you think?
The stats are interesting. What do you think?
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Day trading 0DTE Condors
- Thread starter qlai
- Start date
I'm currently doing a backtest on it. It looks promising. I will post the results when they are complete..
Interesting results, indeed.
He trades ShortIronCondor (it has 4 legs).
But I think a ShortStraddle (or ShortStrangle) is easier to trade (b/c this has only 2 ShortLegs and no LongLegs), and should give a better result, IMO.
Ie. for 0DTE with such liquid options, buying the protective outer LongStrikes is IMO unnecessary when protective StopLimit order(s) get used --> saves much money, therefore also the result should become much better.
Would be interesting to see some backtest or simulation results comparing both strategies on 0DTE.
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This is from his presentation (the slides in the link in your OP):
Here's more info:
https://www.sandvand.net/category/options-trading/
And here's a 2yr old posting of him about his strategy:
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It’s hard to figure out, do your stats match his?
What does he mean by "double stop losses" when he says
"I try to never have more than 3 – 4 positions that are at risk of double stop losses" ?
Answering myself: I think he means when both spreads of the IronCondor experience (or are in danger of) a loss (ie. both of the protective stop loss orders get hit or are in dangerof getting hit).
"I try to never have more than 3 – 4 positions that are at risk of double stop losses" ?
Answering myself: I think he means when both spreads of the IronCondor experience (or are in danger of) a loss (ie. both of the protective stop loss orders get hit or are in dangerof getting hit).
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