37 Quickfire Lesson In Trading Options: 10 Years of Trading by Gavin McMaster

By Gavin McMaster

The idea that for this ebook got here after a full of life training consultation the place i used to be actually peppered with questions for over an hour. whilst reflecting at the consultation afterwards, it dawned on me that the majority scholars ask a similar or comparable questions. they prefer to choose my mind and such a lot are trying to find specified solutions on definite ideas or subject matters, however it is the little counsel and tips that frequently give you the such a lot “aha” moments.

These little nuggets take in basic terms 2 mins to give an explanation for yet may have an important impression in your buying and selling effects. I’ve prepare 37 of those nuggets which are innate to me after 10 years of buying and selling yet would possibly not have crossed your mind.

This publication should still in basic terms take an hour or to learn, yet i believe you'll find it definitely worth the time.

I wish you benefit from the book.

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Extra info for 37 Quickfire Lesson In Trading Options: 10 Years of Trading Experience Compacted Into Easy to Digest Lessons

Sample text

Low volatility makes iron condor trades difficult to find and hazardous to trade. The high amount of vega risk inherent in iron condors means that you are susceptible to sharp market moves, which is exacerbated in periods of low volatility due to having to place your short strikes much closer to the stock price. How then should we handle a low volatility environment? Should we stop trading completely and wait for volatility to shoot higher? Yes, that is one option, but probably not a very attractive option for you.

Be Consistent They say consistency is the key to success and that is true of options trading as well. When you figure out the type of trader you want to be, it’s important to stick to your game plan. If you decide you want to trade iron condors, then stick to it. Don’t chop and change strategies. Trade your iron condors every month. Also try to trade a select group of stocks or indexes. After a while you will start to understand how they behave and how their options behave. My bread and butter trade is a 10 delta iron condor on RUT.

You want to make sure you are getting a good deal. Interactive Brokers and Thinkorswim are the two best brokers, and they provide great value for the money. Optionshouse is a very cheap broker, but they don’t offer the same service as the other two and their platform is not as good. If you are paying much more than $1 per contract, you are getting ripped off. 17. Be Aware Of Early Assignment If you’ve never had an short option exercised early, I can tell you it is not a fun experience. It has happened to me only once, thankfully it wasn’t disastrous, but I had an email from a novice trader once who let a call credit spread get too close to the money.

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