Iron Condors is the third book in the "Best Option Strategies" series and each offers a hands-on education for some of the most useful option strategies.
If you have no profit target, then you will be hard pressed to exit when t.
Another decision involves the pre-planned (I encourage preparation of a trade plan for each trade) exit when the target profit is achieved.
There are numerous sources of information, but I recommend my recently updated (2013) The Rookie\'s Guide to Options, 2nd edition.
If you do not understand the difference between a put and call or have zero trading experience, I encourage you to begin with the most basic concepts about options before continuing.
Although some of the material is suitable for rookies.
This book was prepared for an audience that already understands the most basic concepts about options.
This book helps traders avoid developing a difficult-to-break way of thinking.
We all learn as we gain experience, but some experience can be destructive when mindsets -- that are dangerous to your longevity as a trader -- become ingrained habits.
The goal is to offer guidance that allows you to develop good trade habits and an intelligent way of thinking about trading.
I share my philosophy on Iron condor trading and ideas on how a winning trader thinks.
It is not just a "how to" book because I share lessons learned from a lifetime of trading options (starting in 1977 when I became a CBOE market maker).
There is more that makes this book so special. holding longer (but not too long).
We\'ll discuss the pros and cons of locking in profits quickly (not a good idea) vs.
Know in advance that there is seldom a single \'best\' position that suits all traders; (2) Ideas -- with specific examples -- on how to manage risk; (3) Figuring out when to exit.
Expect to learn the basic concepts of trading Iron condors: (1) How to decide which options are suitable for your Iron condor.
It is intended to be very different from all other books about Iron condors.
Iron Condors is the third book in the "Best Option Strategies" series and each offers a hands-on education for some of the most useful option strategies
