Safe Way to Collect Premium?


#1

I am a full time student and don’t really have a lot of time to analyse the markets. Iron butterfly and other PC strategies seem to be more favorable for my style. I’m really just looking for small hourly income trading 5 hours per day. Is there any way I can safely do premium collection to keep from blowing my account once I start making gains? Would love to learn from you guys as well as Darell and Apex.


#2

All trades involve risk, therefore “safe” is a relative term. Premium collection works well when the conditions are right. This does not necessarily occur every hour of every day. The best way to keep from blowing your account is to use proper risk management.


#3

Good point. So what would you say is proper risk managment? Can you elaborate? What would be your exit strategy on a PC trade for $20-$25 ?


#4

By risk management I mean not risking too much for your account size in any given trade. My stop-loss would be set at the strike…and I would set a take profit on every trade, never letting them go to expiration.


#5

What if it never goes into profit before the expiry? Do you still close the position even if it’s negative a lot? Also what indicators do you base your entry off?


#6

Hi brandonwill092, I’m in the exact same boat as you; I’m working full time and don’t have a lot of time. In the beginning I was hoping for exactly what you mentioned–making consistent profits with doing little to no analyzing of the markets. Sadly, I’ve learned that is a pipe dream. Premium collection sounds like something that would potentially be automated and risk free, but it comes with it’s own risks and requirements just like anything else. The good news is though that I think iron butterflies are the closest thing to what you’re looking for and they are actually very easy to get going once everything clicks. I’ve tried trend catcher and did fairly well when trades came along, but I’m going to focus on IBFs for now, Ive watched the videos several times over and I’m going to start them first thing Tuesday. If I can figure out how to post screenshots and what not (I know, I know, I’m not the most computer literate lol) I would be willing to show how I’m coming along. And of course I would love to see how others are doing as well. Just wanted to chime in to tell you to not get discouraged, I think you can actually make a go of this and be profitable. Good luck!


#7

For premium collection see the 5 Minute Binary training course. It will give you all that you need, step by step set up, rules, indicators, entres and exits