Should I self-manage or autotrade the iron condor strategy?

Eighty five percent of our clients have their accounts autotraded, where some have interest in learning the iron condor strategy, but they learn it over time at their own pace.  Most autotrade clients don’t have the interest or time to learn the strategy so they let us do the trading for them.

Fifteen percent of our clients are self-managed where they will need to ramp up faster because they are responsible for opening, closing and adjusting the trades that we recommend.  With this said, our advisories tell the self-managed clients exactly what to open, close and adjust so they don’t need to become an expert on the strategy overnight.  The self-managed client will need to know how to open and close options trades in their brokerage account, and know how to enter 4 legged adjustment orders.

For the iron condor strategy a self-managed option is still available.  However, this strategy is faster moving than it was in the past as we have moved to 2 week in duration trades since 2015, from 4 week in duration trades. It’s faster moving than in the past and we make many adjustments throughout the month as the market ebbs and flows.  If you have a day job and don’t have easy, immediate availability throughout the day to make trades when they are emailed out, then it’s not recommended to self-manage the iron condor strategy.

For the clients that want to self-manage, many start out with little or no experience trading options, and many start here at Monthly Cash Thru Options (MCTO) because we make it easy for the beginner to learn credit spreads and iron condors.  You can learn at your own pace reading our advisories and executing your own trades. There are about 10 major option trading strategies, and credit spreads and iron condors represent two major strategies that fall into the category of non-directional, option selling and income generating.  MCTO got its start in 2005 focusing on non-directional credit spreads and iron condors because they work day-in and day-out making consistent returns.  One recommended approach to learn options is to first learn credit spreads by following our advisories.  After about 6 to 9 months you’ll start getting the hang of it, and at the same time you’ll be making decent returns on your capital.  At this point, an option is to take an introductory options course to learn more about the other major trading strategies and to dig deeper into the fundamentals of options.