Iron Butterfly Study - Daily Setups and Results
Apexallen,
on the bottom you want to try to buy at 75 you cannot always get it but try to get as close as possible, then you want to set your stop inside you strike by a few ticks to get you out as close to $50 as possible (on one wing trades only if you have both sides don’t use the stops unless you want to) I hope this answers your question if not let me know and I will address it, thx
Rich
they all vary it really depend on the time and the instrument, like EURGBP from 1:30 to 11pm we look for 20 or more and like USDCAD from 6pm to 3am we look for 40 or more it just depends!
Good Evening All,
Here are the 4 trades I did today, it was a 50% win rate today with an after fee’s profit of $30, got stopped out on 2 of the 4 trades but only one of those would have won with no stops so the stops paid off once again, should you have any questions please let me know, these trades were experimental as they are not time periods I usually trade but wanted to see if I could turn a profit on such a low IV day like this day after Christmas.
If I did not have the stops on my YM trade the $30 profit for the day would have been a loss of $9 due to a loss of $67 on one trade so this is why its so important to use the stops!!
Do you have a copy of the checklist you can share in word format or? I cant get a good screenshot of it here to print it out. Thanks, Robert
Robert,
Are you talking about the long term IBF checklist or the daily tracking chart in this post - http://apexinvesting.net/forum/butterflies-218/creekcourses-iron-butter-weekly-results-tracking-2607.html#.VKX8P_ldW0I