Mark D. Wolfinger Livres

Iron Condors is the third installment in the "Best Option Strategies" series, offering a practical education on effective option strategies. This book distinguishes itself by focusing on trading iron condors through essential concepts: selecting suitable options, managing risk with specific examples, and determining exit strategies. It emphasizes the trade-offs between quickly locking in profits and holding positions for longer durations. Drawing from a lifetime of trading experience since 1977, the author shares insights into the mindset of successful traders and the philosophy behind iron condor trading. The aim is to cultivate good trading habits and foster an intelligent approach to trading, helping readers avoid detrimental mindsets that can hinder their longevity as traders. While the content is geared towards those with a basic understanding of options, some material may benefit beginners. The author advises preparation of a trade plan for each position, emphasizing the importance of having a profit target to facilitate timely exits. Recognizing when remaining profit potential is insufficient is crucial for prudent decision-making. The book also introduces fundamental risk management principles, highlighting the importance of understanding the Greeks, practicing discipline, and knowing when to lock in profits. The iron condor is typically treated as a single transaction but managed as two positions, a concept explored i