I have watched the news trading iron condor video but have a few questions/clarifications. Is there a template for determining the 1:1 ratio and stop loss for Nadex Iron Condors? I have not seen anything anywhere. Also, since the video was from a year ago, there is a new spread scanner that shows premium. In the video, Darrell shows how to filter the 1:1 spreads, then do the opposite, etc. With the new scanners we don’t need to do that anymore correct? Use the search tools on the left and search for ONLY positive premium spreads and match up 2 spreads (buy/sell) with the same expiration and that have a total premium of at least $30 from the 2 combined spreads? I know that Chris said there’s going to be some new training videos and/or updates regarding Iron Condors during yesterday’s weekly webinar. I think there’s a lot more interest in this trading strategy due to low volume as of late. I"m just trying to increase my playbook during non trending markets and am looking for clarification. Thanks everyone!
No my friend there is no tmpl and if you want to make money consistently pick the market you like and trade Izone sharpshooter, IC’s are good but only if you know the certain market in and out like DM does, bare in mind hes been trading for over 10 years, ppl like you or me we should pick 1 market maximum 2 and do ABC so IZSS and I also started trading Loris elevators and slings, it is great system just make sure you follow the rules exactly and dont fix whats not broken, the community here is best Ive ever seen and they are all here to help you if you ask questions. Im not saying you just follow the arrows or triangles or whatever no but you have to start somewhere right? So for example Marilyn trades Oil if you listen to hear daily lovely voice you will pick it up very fast, Lori trades TF if you read her posts you will also learn a lot. I used to trade like 6 different instruments at a time - low success, now I switched to oil cos of Marilyn and to DAX cos I like to trade London session and Dax when it takes off its pretty trendy comparing to other indicies, anyway ask ur questions in elite room and the traders will help you Thanks guys have a good weekend
We will do some more training on IC’s. You can use the IC calculator undre the news plan. There is now a copy button next to the striek on the spread scanner you can use to copy and paste onto it to get the calculations.
There is a LOT of money to be made in flat markets IZSS shows you how to make money in trending and flat markets and how to tell the difference before not after the fact.
I think hes asking if there a program that can output the 1:1 stop loss and the break evens for the prices he puts in. They have a iron condor calculator here that does that or you can use the formula darrell says in his step by step iron condor video. I personally have just been working on the iron condor specifically since I’ve been on this site and you NEED to stick to your rules and your 5 percent risk management.The binary hedge on the 1:1 stop loss allows you to do that. A 1:1 stop in the market alone is not enough to allow you to survive on just these. You need to be making more then your losing; less risk more reward. The Russell and S&P and Crude if it has enough premium are some of the best markets for these as a beginner. The Nasdaq has an amazing deal but is not for you as a beginner…I highly doubt you can handle the 80 or 90 dollar loss that tends to come with it; It’s too volatile and almost always goes outside the spread because its so tight. Start with the Russel its cheap or try one of the european markets. The loss is not huge on them, check for news, look at the expected volume…usually only happens on 8 hours and lower; 22 hour contracts tend to be too long to be able to see expected volume in the beginning; you compensate this with the deviation levels and the expected range and news. As for managing a position once it goes bad is an advance thing and am still learning to do that. DO NOT go outside the 5% plan in the loss you can make on one leg. Some days there won’t be any and when that happens well you need to sit on your hands…If your force it you WILL lose money…if you put the emotion of hope in your trade you WILL lose money…stick to the plan strict. If you couldn’t afford to take the loss you probably shouldn’t have put it on. I would say a safe minimum account balance for condors is 2 or 3k.
Thanks guys have a good weekend