Hey all,
Here are some links to articles I found today that are good reading and some timely info:
http://www.moneyshow.com/trading/article/32/DAYTRADERS-26817/7-Questions-to-Answer-Before-Any-Trade/
http://www.moneyshow.com/trading/article/33/TradingIdea-26630/5-Steps-to-a-Great-Trading-System/
http://www.moneyshow.com/trading/article/42/VideoTransTr-24992/Basics-of-Iron-Condor-Options/
The 1st article gives great questions you should be able to answer before you get into any trade, even the credit spreads you see me do here.
The 2nd article is more general, but still good info. It gives some good criteria for judging what would be a good trading system for you. BUT remember the #1 step for a great trading system for you is: The trading system is one you are comfortable with in terms of philosophy and rules that govern it.
The 3rd article gives a very basic primer on Iron Condors. I included it since the past two weeks we have done Condors. This does get a little technical with mentions of watching Deltas on your trade, so if you have any questions let me know.
Also I am putting another website here: http://www.wastingassets.net/. I just found this one today as well and it looks like a good info site. The guys who run this seem to have a similar strategy to me - selling TV (Time Value) to make money. When you sell credit spreads you're selling Time Value & hoping that the option legs expire worthless. This is an example of a wasting asset. The runners of this site do other strategies besides what I do but they are definitely worth a look.
I am in no way endorsing them since they are a site that offers to do the trading for you. I do not make any money from them nor am I soliciting them for any monies for this recommendation. I have read over their site and thought it could be useful to the readers of this blog and that is it.
As always if you have any questions or comments email, Twitter or leave a comment. Coming Soon will be a Facebook site!!!
TTFN
Ash
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