SUCCESSFUL OPTION CREDIT SPREAD TRADING FOR DUMMIES! ( Report #17 )

SUCCESSFUL OPTION CREDIT SPREAD TRADING FOR DUMMIES! ( Report # 17 )

Can you make a living from CREDIT SPREAD TRADING ALONE?

The preliminary hypothetical trading tests and learning curve with single credit spreads and Condor channel bracketing credit spreads, led me to believe you can?
I would hate to think how many hours and midnight oil I've burned perusing everything everybody had to say on the internet about the subject and then trying it myself. Still I did, and have finally distilled all the essential questions and operations down into my lesson for myself. Condensed, I am calling this the two page version of what I need to know and remember and above all, practice in real trading, when considering CREDIT SPREAD TRADING, both single spreads and Condor Spreads ( bracketing ).

Here are the sub headings: 1) SINGLE CREDIT SPREADS AND WHEN TO USE THEM?
2) BULL TREND CREDIT SPREADS
3) CONGESTION AND RANGE BOUND CREDIT SPREADS
4) MARGIN AND HOW TO FIGURE YOUR LIMITS
5) 3% SINGLE PROFIT CREDIT SPREAD REQUIREMENTS
6) BREAKEVEN EXITS
7) VOLATILITY AND HOW TO USE IT
8) ENTERING CREDIT SPREADS THROUGH LIMIT ORDERS
9) EXPIRATION TRADING, WEEKLIES IN THE OEX AND OTHER INDEX'S AND MONTHLY EXPIRATIONS
10) CONDOR, OR CHANNEL BRACKETING CREDIT BULL AND BEAR SPREADS -there is a trick here into maximizing credit returns
11) WHEN TO DO ROLLOVERS AND HOW?
12) OEX INDEX MOVEMENT MARKET CALCULATIONS AND HOW TO USE THIS FOR BIGGEST PREMIUMS
13) THE ODDS and the moment needed to use them for you
14) OEX INDEX MOVES AND WHEN TO USE THEM
15) THE ONLY TIMES TO USE CREDIT SPREADS EFFECTIVELY
16) TIME PERIODS FOR DIFFERENT CREDIT SPREADS
17) USING PREMIUM BALLOONING
18) PATIENCE IS YOUR FRIEND AND WHAT MOMENT YOU ARE WAITING FOR?
19) THE CORE FUNDAMENTAL FOR SUCCESS!
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I wrote this for myself and saved it to computer and a printout. Now all I have to do is follow my own advice religiously, on CREDIT SPREAD TRADING ( grin! ). But THAT is a different and another story. That story is unfolding as we shall see?
One guy selling black box, order selling on the internet, is claiming 149% returns for 2009. He may even be right? From that you can figure how much you need to earn and live by, and how much you have to try it?
This does not go into CREDIT SPREADS of which there are many explanations and tutorials on the web. This is more about SUCCESSFUL credit spread trading and the tricks needed to stay solvent and profitable, by a professional. C'est la vie! We shall see in due course, a year or so from now.
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