iron condors

Is trading iron condors safe thing to for a new trader. The web site I'm looking at joining Iron condor panda investment strategies. Could you check that site out for me, and tell me what you think.



1) No options strategy is completely safe (I know, that's not what you asked).

2) If managed properly, iron condors are an excellent vehicle for making money with options.  If managed properly, the risk of loss is reasonable and it's a long-term winning strategy.  But, it takes a bit of experience to grasp what you need to know.  And that's especially true for the risk management portion of handling iron condor positions (something most investors overlook - and there's no way for you to know how well your panda guy manages risk). If you pay someone else to trade for you, you learn nothing.  And you have no assurance that this trader knows what he is doing.  It's far better to open a paper-trading (practice account).  That way, without using real money, you get hands-on experience.  I usually tell people that they have the rest of their lives to trade, so it pays to learn first.

3) I think it's a BAD idea to let other people make trading decisions for you, and even worse when you have to pay them a fee.

4) I took a quick peek at the site you asked about, and although I can see nothing wrong (at least nothing obvious), I also see no reason for you to trust someone else to make trade recommendations, or place the trades for you.

5) This is a strategy you can learn for yourself, if you have a bit of patience.  And I don't mean many months - just some reading, asking questions (if necessary) and practice trading.  It's not the strategy I would recommend as your FIRST entry into using options because there is more to learn with this method than with some simpler ones.  However, the most simple strategies don't work well in a bear market, and that's apparently where we are at the moment.

6) Take a look at my blog:       I've been discussing iron condors for rookies over the past few days.

7) Also, download my free eBook for ideas:

8) Bottom line:  Good strategy.  Takes a bit of learning.  Don't start trading before you understand what you are doing.  There are many people who trade iron condors and charge high fees - I do not recommend them.  There is no hurry to get started.  it's not as if there is any guarantee of profits and if you learn to trade for yourself, you will be far better off as times passes.  If you decide to go the paper-trading route, write again for some ideas.

Whatever you decide, best of luck.

Mark D. Wolfinger
The Rookie's Guide to Options:
The Beginner's Handbook of Trading Equity Options
Free eBook: