Losing more in my trades than i make!

#1

i made 4 iron condors i lose more than i won here are my 4 trades

#2

looks like most of those got no premium bub

#3

Yes , a couple things here:

  1. When doing Iron condors we are looking for spreads that have a high amount of premium in them. Usually $30 or more potential. Some of these only have a few dollars built into them, which is not enough.
  2. On you PnL screenshot you still have some time until expiration. With very little premium you are not going to see the premium really come into play until much close to expiration.
  3. Some of these you got in to with very little time left until expiration. Usually you will need to have longer time until expiration to get the higher premiums

I also did some Iron condors last night. Notice I took the longer spreads through end of day. Some of these had as much as $80 premium on each side. You need to have longer times, and higher premiums to adjust your strategy here

#4

Could you show me what spread you use last night so I could compare yours to mine so I can see the difference

#5

One thing that might help, it looks like you may have your filters set to NTM (Near The Money). Try setting your “Moneyness” filter to “Any”.

#6

You can see the actual spreads listed there off to the left hand side of the above screenshot to see the wider spread which have a ceiling and floor that match up

#7

Here is a Siamese Condor

And, an Iron Albatross

Notice that both go above the horizontal line. While yours connect at that line, so no premium. On the scanner, where the diagonal line crosses the horizontal one, is where you got in on each spread. If, the market stays between those locations.Then, both sides won.On your examples, the diagonal line doesn’t cross.

Don’t have any regular Condors to show you. Hope this helps.