Mark Wolfinger – Iron Condors (The Best Option Strategies Book 2)

This course is now available for immediate deliveryThere are many information sources, but I recommend my newly updated (2013) “The Rookie’s Guide to Options, 2nd edition.”File Size: 728.38 KB

Mark Wolfinger – Iron Condors (The Best Option Strategies Book 2)

Iron Condors This is the third volume in the series. “Best Option Strategies” Series that offer a hands-on option-For some of the most valuable option strategies, you should be educated. It is designed to be different than all the other books on this strategy.
Learn the fundamental concepts of iron condor trading: (1) How you can decide which options will work for your iron condor. There is no one right answer. ‘best’ Position that suits all traders. (2) Ideas, with specific examples, on how to manage risk. (3) Figuring when to exit. We’ll discuss the pros and cons of locking in profits quickly (not a good idea) vs. holding longer (but not too long).
This book is not only special because of its uniqueness, but also because it contains many other things. It’s not only a book about astrology. “how to” This book is a collection of lessons from my trading career, which began in 1977 when I was a CBOE market maker. My philosophy on iron condor trading is shared and my ideas about how to be a successful trader. I want to provide guidance to help you create good trading habits and an intelligent way to think about trading. Although we all learn through experience, certain mindsets that are detrimental to our longevity as traders can become ingrained. These books can help you avoid making difficult decisions.-To-break mindsets.
This book was written for those who are familiar with basic concepts of options. While some of this material may be useful for novice traders, I suggest that those who do not know the difference between a puts and calls or have no trading experience start with the basics. Although there are many sources of information available, I recommend this (2013) update. “The Rookie’s Guide to Options, 2nd edition.”
A pre-approval is another possibility.-Planned exits (I recommend that you prepare a trade plan for every trade) to lock in your profit. You will find it difficult to make decisions when you are not aiming for a profit target. Profits accumulate and it becomes a daily decision of whether to exit or hold. It is crucial to identify when there is not enough profit potential to justify holding a trade. The trade plan and target profit are key tools to help you become a disciplined trader.
Closing the position can be simple and enjoyable, especially if you have earned the target profit before expiration. It could also be difficult.-A difficult decision that locks you in to a loss. It’s made because it’s essential to take the risk-Reduce your risk. This book provides a solid introduction into risk management for iron condors.
These are my core beliefs and the basis of the book. It’s not hard and allows you to identify the risk (and potential reward) for any position. (3) You need discipline when managing risk. You can say you know what risk management is, but it’s another thing to actually put it into practice. To exit the position, lock profits and eliminate risk, pay a small amount.
Iron condors are most commonly traded in a single transaction that consists of four legs. But it is managed as if there were two positions. This isn’t a contradiction. When one of these spreads is more at risk than the other, an adjustment can be made to compensate.

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