Iron Condor - Is this the best?

[jamesbp]

you maybe right, but what separates the people who have managed to generate monthly returns from everyone else?

im not looking to trade full time, just to earn a decent return.

Trading to generate a monthly income is a scam promoted by snake oil salesmen ...
TastyTrade suggest you can use their platform 'Dough' to learn to trade options the easy way ... but most of their featured traders somehow seem to lose money ...

I'd like to train part time and win an Olympic medal ... but it ain't going to happen!

 

[crayon851]

Trading to generate a monthly income is a scam promoted by snake oil salesmen ...
TastyTrade suggest you can use their platform 'Dough' to learn to trade options the easy way ... but most of their featured traders somehow seem to lose money ...

I'd like to train part time and win an Olympic medal ... but it ain't going to happen!

well with that attitude you definitely wont get anywhere.

there are people that do it right?

 

[crayon851]

I trade RUT IC for monthly income. I enter the trade around .10 delta. They key to trading IC is having a plan of when to enter, exit, and most important when to adjust and that’s key because you can lose way more than the premium you collect. On IC trades I like to receive at least 10% on risk. The trade I have on now
Nov RUT
1175/1195 Calls Credit 1.37
1010/990 Puts Credit 1.17
Total credit 2.54

I will exit if I can capture 80% of profit.

Having a predefined plan and sticking to it is most important, it also takes the emotions out of trading. If you follow the plan you’ll be more successful than not. It's not as diffucult as people make it out be even the adjustment strategies. It's not rocket science. I like to keep things simple so I use the KISS approach (keep it simple stupid).

I'm new here and I joined to learn as well. I was surprised at the negative comments. I don't have all the answewrs but I'll try an answer any other question you might have on income trades.

.10 delta is the price the option moves in relation to a 1$ move in the stock? so 10%?

 

[jamesbp]

well with that attitude you definitely wont get anywhere.

there are people that do it right?

In which case, you don't need to ask all the newbie trading questions here then?
Who exactly 'does it right'?

 

[newwurldmn]

if i was an expert, i wouldnt be on this forum.

if you were an expert, you wouldn't give back to the community, but you expect everyone else to be nice to you?

And now, someone else offers you a realistic assessment and you imply he's a failure.

 

[galvinlee888]

if you were an expert, you wouldn't give back to the community, but you expect everyone else to be nice to you?

And now, someone else offers you a realistic assessment and you imply he's a failure.

Too many people though that they can go to any free internet forum, put in a thread and expect someone to spoon feed them with profitable strategies, and then trade their 5K account and retire young.

If the trading is so easy, we will not have > 90% failure rate.

 

[crayon851]

Too many people though that they can go to any free internet forum, put in a thread and expect someone to spoon feed them with profitable strategies, and then trade their 5K account and retire young.

If the trading is so easy, we will not have > 90% failure rate.

you guys keep saying the same thing. the whole point of people being on this forum is generally to learn and get trade ideas. thats why im here. not because what im doing isnt working, but because there are always better ways.

i had a trade on tza last month. went from 14-17. i sold. then it went up higher. could i have found some advice on here that wouldve maximized my profits? yeah probably. im no where near a professional nor do i have the knowledge base of some people on here. however, if a bunch of newbies got together, im sure they can share their experiences and learn from each other.

 

[crayon851]

In which case, you don't need to ask all the newbie trading questions here then?
Who exactly 'does it right'?

if you are a newbie, of course youll ask newbie questions....

tim sykes does it right (at least what he promotes himself as) some guys online etc. whether they are legit or not, its all speculation. from what you see though,is success in their lifestyle from trading and sometimes you just have to take it at face value no?

everyone starts somewhere. at one point in time, everyonr asked the newbie questions. so if you want to help them, help them. if not, just dont respond to those threads.

i dont see what the big deal is with me asking a question to get opinions. no need to be rude.

 

[jimmyjazz]

It might be wise to step back, take a breath, show some contrition, and move on. Posting here is like taking batting practice against Clayton Kershaw -- you may not know you're out of your league, but it should be come abundantly clear in short order.

I have learned SO much from these forums, and I still post stupid questions and bad advice. It's human nature. The search engine is your friend, but you will need to spend some time digging in order to figure out who knows their shit and who just thinks they know their shit.

 

[newwurldmn]

if you are a newbie, of course youll ask newbie questions....

tim sykes does it right (at least what he promotes himself as) some guys online etc. whether they are legit or not, its all speculation. from what you see though,is success in their lifestyle from trading and sometimes you just have to take it at face value no?

everyone starts somewhere. at one point in time, everyonr asked the newbie questions. so if you want to help them, help them. if not, just dont respond to those threads.

i dont see what the big deal is with me asking a question to get opinions. no need to be rude.

You should follow Tim Sykes then. He doesn't trade options.

And you should follow your own advice and perhaps not be rude to the people are offering you the fruits of their experiences for FREE.