BillP Posted June 29, 2012 Posted June 29, 2012 Bad to lose Money when market up 275. I had a SPX spread short leg 1355 that took me to the cleaners. Bad bad Quote
BillP Posted June 29, 2012 Author Posted June 29, 2012 SPX Iron Condor June 29th: Long 1280 put + Short 1285 put June 29th: Short 1355 call + Long 1360 call Here is the trade Quote
Guest listolyman Posted June 29, 2012 Posted June 29, 2012 I think if you were monitoring the trade then you could have rolled the upper strikes to reduce your risk. Usually when it gets close to 20 points away is a good time to roll. Quote
Guest listolyman Posted June 29, 2012 Posted June 29, 2012 A major theme of this forum is to manage risk. As Van Tharp says " cut your losses short and let your profits run". If you get a chance read his book "Super Trader"(recommended by Kim on his reading list). Through position sizing and setting the limits on your risk(max amount that your are willing to lose on a trade) then you will find that this system is profitable over the long term but there will be losses that need to be managed. Welcome to the group. Quote
BillP Posted July 30, 2012 Author Posted July 30, 2012 Trying to learn here and others can also. Looking at the trade as it is, what would the trade look like when rolled? Quote
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