Calendars and double diagonal classes

Greetings,

I am new to options, I took 2 classes with Sheridan mentoring, Iron Condors and Butterflies.
I need classes for calendars and DD's I can't really afford anymore of the SM classes,
are there any video classes for the these, I can't find anything on Google.

Rob

 

These look like they will be helpful, I was looking for something to the effect of DS full classes.
I am sure there is something like it for free or close to free.

 

I am a big fan of Tony Sizemore at Optionelements.com. He does charge a monthly fee, but he allows subscribers to attend all of his online classes for free. Additionally, if you give him a phone call, he will call you back. He has some great classes on all of the standard option trades: flys, condors, calendars, etc. and one of his strengths is to make you understand "Managing By The Greeks" which is very important.

I agree with Tom and point anyone who asks me first to CBOE online videos, and then Dan Sheridan's free videos. You can also check out Tony on YouTube...he has a few free videos there as well.

 

https://www.youtube.com/channel/UCw1KxL_m9zwtzYTQnGR_n_Q

 

Wow you guys ROCK!, I have a lot to digest. Hopefully I can learn this. Do you guys have like a trading group, or something where you trade
options live? I am not ready to do real money yet, but I have seen several videos and as I said I have a few of the DSM classes, but that was long time ago.

 

Rob: You will need to have access to (and know how to use) 3 tools: Interactive Brokers, Think Or Swim, and OptionVue. The reason for listing these 3 is that most full time option traders use them, so when you are discussing trades with other traders, you have a common language and you can reproduce any trade they discuss on your own system.
For a live trading group, I would strongly encourage you to look at Tony Sizemore, Option Elements. He will charge you a monthly fee of about $ 200.00/month, but it is well worth it. Also, keep in mind that OptionVue will also cost you about $ 200.00/month, so you will have monthly expenses related to your education.

You should spend a few months just watching the CBOE and YouTube videos previously recommended. You should do this for several months before starting with any paid services. Too many people will be glad to take your money and promise you instant success, and only they will get richer. If you post your questions on this group about any classes you are thinking about taking, you will get good answers that you can trust. Have Fun.

 

Some far so good. I been watching videos, I have a trial of Optionsnet explorer software, I ran about 78 trades through it, lost on 2 rest made it doing weekly on $RUT
One of the videos with DSM used the Calendar trade, but it seems the butterfly works well for the weeklys.

 

Just remember....PAPER TRADE ONLY.....until you are consistently profitable. Options Trading is the fastest way to lose your entire portfolio if you dont......

 

While playing with my Options net software with fake money of course. I can do a trade, broken wind butter fly,, limited downside risk, of course you have the tent, but the broken wing no mater how high market goes, it will make some money, How come I cannot do this for the down side? Markets crash down, not up.

 

paper traded over 60 trades and so far made 29K on 15K paper account back testing.
Question, the software gives me a "mid" price, how far do I go toward mkt to get a fill in the real world? I am using a few cents or more depending on trade toward to market price.

 

Hi Rob,


If I understood your question correctly than you can definitely open a broken wing butterfly with no downside risk. You just need to use the call orders, opposite of what you did when you opened the broken wing butterfly with no upside risk. Depending on your market view, you can chose which side to have no risk.

 

Yes, I see how to do it, I am still new to the optionsNet software. I got it working now.