Advanced Iron Condors, Trading Concepts by Todd Mitchell

THAT STEAL YOUR PROFITS!

The Iron Condor is a profitable trading strategy … but that’s not to say it doesn’t have challenges.The Iron Condor is a profitable trading strategy … but that’s not to say it doesn’t have challenges.

In fact, when you use the strategy like everyone else, problems can quickly escalate.In fact, when you use the strategy like everyone else, problems can quickly escalate.

Let me explain…Let me explain…

As you know, the Iron Condor is a relatively simple strategy in concept. You place credit-spread positions above resistance and below support. That way the price has a range you can trade within until expiration.As you know, the Iron Condor is a relatively simple strategy in concept. You place credit-spread positions above resistance and below support. That way the price has a range you can trade within until expiration.

But because the strategy is so simple to grasp, many traders jump in before they’re really prepared to manage the trade effectively.But because the strategy is so simple to grasp, many traders jump in before they’re really prepared to manage the trade effectively.

They overlook the critical step that separates the struggling retail traders from the pros …They overlook the critical step that separates the struggling retail traders from the pros …

Risk management.Risk management.

THIS ​​IS ​​THE ​​PROS’ ​​SECRET ​​FOR ​MORE ​CONSISTENT PROFITABLE ​RESULTS ​TRADING ‘IRON CONDORS’.

The truth is, the Iron Condor strategy is more complicated than most “experts” care to admit.The truth is, the Iron Condor strategy is more complicated than most “experts” care to admit.

Just as in any sport, you need an offense. But to win consistently, a strong defense is just as important.Just as in any sport, you need an offense. But to win consistently, a strong defense is just as important.

For example, it’s true Iron Condors are great for flat markets. However, these conditions also create a common trap.For example, it’s true Iron Condors are great for flat markets. However, these conditions also create a common trap.

How often have you placed an Iron Condor after watching a market trade within a range for a while – only to get run over on a breakout?How often have you placed an Iron Condor after watching a market trade within a range for a while – only to get run over on a breakout?

It happens.It happens.

After all, range contraction leads to range expansion.After all, range contraction leads to range expansion.

But the problem isn’t the price breakout itself. It’s that you didn’t have a game plan in place ahead of time to account for the potential move.But the problem isn’t the price breakout itself. It’s that you didn’t have a game plan in place ahead of time to account for the potential move.

This is like driving a car without brakes or steering – you can’t stop or avoid obstacles.This is like driving a car without brakes or steering – you can’t stop or avoid obstacles.

If you’ve fallen victim to this flat market trap, you’re definitely not alone. As I mentioned earlier, Iron Condors create problems for traders who “trade blind.”If you’ve fallen victim to this flat market trap, you’re definitely not alone. As I mentioned earlier, Iron Condors create problems for traders who “trade blind.”

The other major issue involves volatility. The “experts” claim high-implied volatility is good for Iron Condors.The other major issue involves volatility. The “experts” claim high-implied volatility is good for Iron Condors.

But take a look at this …But take a look at this …