Anyone who actually provides help on an internet forum does it on purely altruistic means. There's only potential downside to helping someone on the internet.
Iron Condor - Is this the best?
- Thread starter crayon851
- Start date
Anyone who actually provides help on an internet forum does it on purely altruistic means. There's only potential downside to helping someone on the internet.
At the risk of sounding rude or condescending, I recommend those who want to learn about options read the following thread:
http://www.elitetrader.com/et/index.php?threads/any-option-sellers.242112/page-30
It's one of the most helpful.
http://www.elitetrader.com/et/index.php?threads/any-option-sellers.242112/page-30
It's one of the most helpful.
thanks for the recommendation.
Jeez, that was painful. It's like Groundhog Day.
http://www.elitetrader.com/et/index.php?threads/any-option-sellers.242112/page-31#post-3947541
God, I love this place. Literally too stupid to insult.
yup i feel the same way. good luck with your trading.
OP, you can answer most of your own questions by simply applying some rationale to the following two concepts:
1) There are a lot of smart traders out there
2) There is always two sides to a trade
Just using those two, you should start to see the obvious truth. There is no easy trade, or simple strategy that works best, or perfect system, or any of that crap. There's always smart people, and there's always two sides to the trade.
If Iron Condors were so great, so easy, so simple, so profitable, who in their right mind would take the other side of that trade?
I hate to break it to you, but the options market is pretty efficient. Learning from get rich quick snake oil salesmen on how to earn 5% monthly income or all that other BS you've been suckered into is not going to do it. The only way to make consistent profit is to truly find an edge. Sorry, but simply selling X strategy like clockwork is not an edge with any expectation of future long term success.
1) There are a lot of smart traders out there
2) There is always two sides to a trade
Just using those two, you should start to see the obvious truth. There is no easy trade, or simple strategy that works best, or perfect system, or any of that crap. There's always smart people, and there's always two sides to the trade.
If Iron Condors were so great, so easy, so simple, so profitable, who in their right mind would take the other side of that trade?
I hate to break it to you, but the options market is pretty efficient. Learning from get rich quick snake oil salesmen on how to earn 5% monthly income or all that other BS you've been suckered into is not going to do it. The only way to make consistent profit is to truly find an edge. Sorry, but simply selling X strategy like clockwork is not an edge with any expectation of future long term success.
so if the market is pretty efficient, which I dont disagree with, using probabilities as a base for trading options is a good start.Then trading iron condors where the probablistic profit is greater than the loss, should theoretically end up profiting in the long run.
Not only that, you can also roll one side or take on stock and convert it etc.
Im not saying its the end all be all, Im jist trying to get an opinion from others.
I am by far not even near the smartest of traders or even near being of average knowledge for this stuff, but thats why Im asking for insight.
to make money though, i dont think you have to be the smartest. just need a sound plan.
It's called picking pennies in front of bulldozers. Read about Victor Niederhoffer's two blow outs. This is a well connected pro, not some amateur.
Edit: I'm not saying he did condors, I'm saying he took the same crappy R:R.
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