Not exact matches
Options comes with its own vernacular — covered calls, selling puts, the strike price,
iron condors, etc. — and that requires some getting used to, but it's not like learning
how to split the atom.
During that period I was also trading some option spread strategies, such as Straddles and
Iron Condors, but I really didn't know what I was doing and certainly didn't know
how to adjust a loosing trade.
This is an important post because it contains information seldom discussed elsewhere — information that is essential if you want to understand
how adopting the
iron condor strategy results in gains and losses.
Choosing the strike prices for your
iron condor position — and deciding
how much cash credit you are willing to accept for taking on the risk involved — are irrevocably linked.
And if you are unsure of
how your comfort zone is defined, use a paper trading account to practice trading
iron condors (or any other strategy).