Welcome to Module 7 of the Options Trading IQ Iron Condor Course.
Having a trading plan is the most crucial aspect of becoming a successful trader, but also the most commonly overlooked. I remember when I first started trading I completely discounted the importance of having a plan. I thought I could just keep track of everything in my head so why would I need to write it down??
Well, having a written down trading plan makes it much more real, and much more likely that you will adhere to it. Ask any successful trader, and they will agree, a written down trading plan is hugely important.
You can download a sample iron condor trading plan here. It’s fairly basic, but can be tailored to suit your needs. You can have as much detail or as little as you like, it’s totally up to you.
I hope this helps you, please drop me a line if you have any questions at all. I would also love to hear where you are at with your trading and if there are any specific problems you need help with.
In Module 8, we’ll be looking at how to trade a “mouse ear” iron condor.