August 20, 2008One of the goals I have had for this blog is to become more “self aware” of my trading and the markets through transparency of my trading decisions. It has worked and my methods and understanding of major principles such as risk management and portfolio diversification have been pushed to another level. A picture is […]
Popularity: 16% [?]
Posted in Real Trades, Trading Rules, Misc 
No Comments »
July 17, 2008A very good webcast on on the CBOE site by Dan Sheridan that covers rules for opening iron condors in different IV environments, plus a few options on how to adjust. (If that link doesn’t take you right to the video, choose the “Dan Sheridan Archives” on the left column.) It looks like the same set of slides […]
Popularity: 21% [?]
Posted in Trading Rules, Iron Condors 4 Comments »
June 18, 2008These are not the best rules in the rules, and are getting tweaked constantly (especially defense). I’m going to split these into the three phases of the trade and the way I view them. Offense, Defense, and Endgame.
Offense
Offense is identifying an opportunity and opening a trade. The main purpose of these rules are to open a […]
Popularity: 10% [?]
Posted in Trading Rules, Calendars 1 Comment »
June 17, 2008Iron Condors have been my bread and butter trades for a long time, and I think I will always do the “low probability” variety each month. My rules are fairly simple - aim for placing the short strikes at a 7-9 delta, shoot for a minimum of 10% of a credit, and manage as necessary. Nevertheless, […]
Popularity: 14% [?]
Posted in Trading Rules, Iron Condors 2 Comments »
June 9, 2008As I seek to standardize and take some of the room for error out of my trades, I’m going to use a small form for my trades that will cover most of the bases that could get me in trouble, plus make sure that I have a 360 degree understanding on the trade. You’ll find […]
Popularity: 10% [?]
Posted in Trading Rules, Calendars 5 Comments »
May 30, 2008After reading about Tony Saliba in Market Wizards a decade ago, he became one of my heroes so to speak, because he spelled out how he may trades. If my memory serves me right, it was all-butterflies all-the-time, with way out of the money puts and calls as insurance in case of an “explosive move.” […]
Popularity: 35% [?]
Posted in Trading Rules, Butterflies, Book Reviews No Comments »
May 13, 2008After spending time with my past greek calculations I spotted some weaknesses and decided to tweak them… the results are below.
Tracking greeks have one benefit - the reveal just how exposed you are to risk for any single option strategy, and how “healthy” your position is, and whether you can expect it to produce income […]
Popularity: 13% [?]
Posted in Real Trades, Trading Rules 7 Comments »
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