Iron Condor - Is this the best?

Well, most traders go through a period early on of being humbled by losses. Maybe after you've bled down your trading account you'll come back a little more humble, a little wiser, and a little more willing to entertain the possibility that we've all been where you are now and we were genuinely trying to help you.

But I truly believe the best education is just getting in there and putting your own money on the line. Here's a few pointers for you to focus on in the next few months while you're educating yourself through trading losses:

1) Allocate small amounts to each trade.

2) Record everything meticulously.

3) Focus on the process, not the results. Don't ever confuse a winning trade with a smart trade. Remember, sometimes good trades lose money and bad trades make money.


Good luck pushing your square Iron Condor strategy through the round hole :)
 
thanks for the tips. Ill keep them in mind.

options im relatively new to still with lots to learn. ive lost a few grand 3 years ago jusy buying calls and puts. the one thing i lack is timing. my trades played out to my predictions, just a few weeks short.

now ive been learning about these strats,iv rank, iv etc. been doing options for about 1.5 years now after learning and i havent blown up yet. havent made crazy gains, but am still at a small profit.

i just like doing what people believe is not possible. ill keep a blog of my trades, and possibly a journal here, maybe if you have time you can follow it.
 
Good luck Crayon im here for the same reason as you and i can get your point that some people being abit rude, abit Impatient.. but thats ok i guess, people use to follow this site for few good years and some rookie questions keep coming.. every one with his own reaction. Vix - trader got a point with the writing down trade details.. it will help you follow your good and bad trades and learn from them
 
The difference between you, gimpyron, and this bozo, crayon, is that you ask questions and are respectful to those who offer their time and knowledge in providing you answers.

Crayon is looking for corroboration on his ideas and free handouts. And then has the gall to insult those helping him. Why anyone would take time to help this guy is beyond me when his track record for accepting that help in this site is very public.
 
Good luck Crayon im here for the same reason as you and i can get your point that some people being abit rude, abit Impatient
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I can't speak for anyone else here, but after re-reading my own comments I really don't think I've said anything rude in anyway to him. He clearly doesn't know what he's doing (and we've all been there when we started) yet he seems determined to pretend he does. That usually leads to one place, trading losses. I'm not trying to be rude, just speaking the truth. Arrogance and stubbornness usually lead to losses.

You are right about one thing though Crayon. It is vital that a trader finds his own way, finds his own techniques that work, even when others will say they won't. This is a skill every successful trader needs to have. The fund I manage trades five different strategies, two of them are often criticized by other traders. That doesn't bother me though because they work for reasons I fully understand.

Having said that, you can't just go around blindly and like I said, jam square pegs into round holes. Some unconventional strategies work, and some are just mathematically unattractive. Your desire to blindly trade Iron Condors without monitoring your entries as the most important aspect of the trade is the latter.

Iron Condors are a great trade, nobody here is saying otherwise. We're simply telling you that the entry is what makes or breaks the trade. Sometimes conditions are great for a good old Iron Condor, and sometimes it's a terrible choice. If you consistently slap on Iron Condors in unfavourable conditions, no amount of management techniques taught to you by some online guru for 49.99$ a month will save you.
 
no, youve been helpful and not rude at all. i wasnt suggesting i put on blind iron condors, i was thinking of it more as a start position on stocks that fit my criteria for entry, i.e high IV in comparison to HV, anbualized ROC, fundamental reasons, and ta.
 
newwurldmn said:
The difference between you, gimpyron, and this bozo, crayon, is that you ask questions and are respectful to those who offer their time and knowledge in providing you answers.

Crayon is looking for corroboration on his ideas and free handouts. And then has the gall to insult those helping him. Why anyone would take time to help this guy is beyond me when his track record for accepting that help in this site is very public.
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cool story bro. tell it again.
 
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