Comments for Tryumph Trader http://tryumph.wordpress.com Online Trading Journal Wed, 04 Jun 2008 10:07:11 +0000 http://wordpress.com/ hourly 1 Comment on Open: IWM Skewed Iron Condor +26% by shishir48 http://tryumph.wordpress.com/2008/02/15/open-iwm-skewed-iron-condor-26/#comment-9 shishir48 Wed, 04 Jun 2008 10:07:11 +0000 http://tryumph.wordpress.com/?p=61#comment-9 Hi I have strated option trading last two yeras and since last 9 months I am only trading Iron Condors on Indexes like RUT, SPX and NDX. Recently I came accross named calld Skewed Iron Condor. It has given me some more interest in leraning as it helps for one side more directional trade. I do not any thing much about it. After Google Serach, I caame accross your web site and shaw some info about, Skewed Iron Condor. Would you please help to to know whatever possible. Also please show me your few past skewed Irondor, how do you find a Skwed IC and how you manage and any other rules. If you wish I am ready to shrare my trading PLAN / RULES for Iron Condor, I prepared. Please let me know, how I can attech a document and where if requred and sent it to you. Hi
I have strated option trading last two yeras and since last 9 months I am only trading Iron Condors on Indexes like RUT, SPX and NDX.

Recently I came accross named calld Skewed Iron Condor. It has given me some more interest in leraning as it helps for one side more directional trade. I do not any thing much about it. After Google Serach, I caame accross your web site and shaw some info about, Skewed Iron Condor. Would you please help to to know whatever possible. Also please show me your few past skewed Irondor, how do you find a Skwed IC and how you manage and any other rules.

If you wish I am ready to shrare my trading PLAN / RULES for Iron Condor, I prepared. Please let me know, how I can attech a document and where if requred and sent it to you.

]]> Comment on Goals 2008 by armanstock http://tryumph.wordpress.com/goals-2008/#comment-8 armanstock Sun, 13 Apr 2008 09:19:23 +0000 http://tryumph.wordpress.com/goals-2008/#comment-8 Hello Tryumph Trader. I just found your site, read your goal 2008, very inspiring. I am 44 years, husband and father of a 11 years boy, have just learning options for 3 months, and lose (not proud, he..he..) about 11% from original capital and now struggling to bring it back to its original value. Hopefully you do not mind if I use you (your site) as one of my virtual mentor. Regards Armanstock Hello Tryumph Trader.
I just found your site, read your goal 2008, very inspiring.
I am 44 years, husband and father of a 11 years boy, have just learning options for 3 months, and lose (not proud, he..he..) about 11% from original capital and now struggling to bring it back to its original value. Hopefully you do not mind if I use you (your site) as one of my virtual mentor.
Regards
Armanstock

]]> Comment on OPEN: IWM IC by ericthomas70 http://tryumph.wordpress.com/2008/02/19/open-iwm-ic/#comment-7 ericthomas70 Thu, 28 Feb 2008 21:26:33 +0000 http://tryumph.wordpress.com/?p=65#comment-7 Thanks, looking forward to the details! Thanks, looking forward to the details!

]]> Comment on OPEN: IWM IC by tryumph http://tryumph.wordpress.com/2008/02/19/open-iwm-ic/#comment-6 tryumph Thu, 28 Feb 2008 17:02:11 +0000 http://tryumph.wordpress.com/?p=65#comment-6 Eric, Thanks! Great question. First it depends how you trade Iron Condors. If your style is similar to the one outlined above this will make more sense. Second I use ThinkorSwim Brokerage if you are using a different brokerage so the rules for your account may be different. Third I don't know what your trading experience level is or your success rate is with IC's. That said, I would add broken Butterflies to the edges of the condors if I felt like one of the wings would be in danger prior to expiration. You use this strategy to * reduce your risk, * bring in more premium * expand your break even with out adding too much additional to your margin. Call this an Owl trade because the risk graph using Think or Swim's analyze tab (@ expiration +1) looks like an Owl. Simply I Buy a Butterfly and then "break" the wings using one of the short sides of the Condor as the "synthetic" position. Way confusing to explain - much easier to see. I will create a new post with more details on this strategy since a picture is worth.... I'm in an Investools workshop today so expect the post by Monday. Eric,
Thanks! Great question.
First it depends how you trade Iron Condors. If your style is similar to the one outlined above this will make more sense. Second I use ThinkorSwim Brokerage if you are using a different brokerage so the rules for your account may be different.
Third I don’t know what your trading experience level is or your success rate is with IC’s.

That said, I would add broken Butterflies to the edges of the condors if I felt like one of the wings would be in danger prior to expiration. You use this strategy to
* reduce your risk,
* bring in more premium
* expand your break even with out adding too much additional to your margin.

Call this an Owl trade because the risk graph using Think or Swim’s analyze tab (@ expiration +1) looks like an Owl.

Simply I Buy a Butterfly and then “break” the wings using one of the short sides of the Condor as the “synthetic” position. Way confusing to explain – much easier to see.

I will create a new post with more details on this strategy since a picture is worth…. I’m in an Investools workshop today so expect the post by Monday.

]]> Comment on OPEN: IWM IC by ericthomas70 http://tryumph.wordpress.com/2008/02/19/open-iwm-ic/#comment-5 ericthomas70 Thu, 28 Feb 2008 15:14:46 +0000 http://tryumph.wordpress.com/?p=65#comment-5 Tryumph, Cool blog. Could you say a little more about what you mean by "add a broken butterfly to the top/bottom..."? I'm pretty familiar with iron condors and I like them a lot, but I haven't heard of this butterly-adding idea before, and I'm not sure if I understand. Cheers, Eric Tryumph,

Cool blog. Could you say a little more about what you mean by “add a broken butterfly to the top/bottom…”? I’m pretty familiar with iron condors and I like them a lot, but I haven’t heard of this butterly-adding idea before, and I’m not sure if I understand.

Cheers,
Eric

]]> Comment on Open: IWM Skewed Iron Condor +26% by tryumph http://tryumph.wordpress.com/2008/02/15/open-iwm-skewed-iron-condor-26/#comment-4 tryumph Thu, 21 Feb 2008 17:50:28 +0000 http://tryumph.wordpress.com/?p=61#comment-4 TraderJman, Good catch. I'm so used to typing 1 lots I did the same here. Since the condor is skewed there were actually double the number of contracts on the Call side. Call side: (2x.79) - (2x.36) = +.86 Put Side: .83 - .64 = +.19 .86 + .19 = 1.05 I'll correct the post. TraderJman,
Good catch. I’m so used to typing 1 lots I did the same here. Since the condor is skewed there were actually double the number of contracts on the Call side.
Call side: (2x.79) – (2x.36) = +.86
Put Side: .83 – .64 = +.19
.86 + .19 = 1.05
I’ll correct the post.

]]> Comment on Open: IWM Skewed Iron Condor +26% by traderjman http://tryumph.wordpress.com/2008/02/15/open-iwm-skewed-iron-condor-26/#comment-3 traderjman Thu, 21 Feb 2008 12:54:58 +0000 http://tryumph.wordpress.com/?p=61#comment-3 Hi, Im fairly new to trading. On one contract you say the IWM skewed that expired in February gave you a total credit of 1.05. If I add the shorts and subtract the longs I am getting a credit of 0.62. Please explain. Thanks Hi, Im fairly new to trading. On one contract you say the IWM skewed that expired in February gave you a total credit of 1.05. If I add the shorts and subtract the longs I am getting a credit of 0.62. Please explain.

Thanks

]]> Comment on CLOSE: UAUA JUN08 Put Calendar +157% by Mojo http://tryumph.wordpress.com/2008/01/18/close-uaua-jun08-put-calendar/#comment-2 Mojo Sun, 20 Jan 2008 22:01:37 +0000 http://tryumph.wordpress.com/2008/01/18/close-uaua-jun08-put-calendar/#comment-2 Wasn't that a sweet trade??? I wish they all went that way! :) Mojo Wasn’t that a sweet trade??? I wish they all went that way! :)

Mojo

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