THE STEEP LEARNING CURVE FOR SPREAD TRADING - report #19

THE STEEP LEARNING CURVE FOR SPREAD TRADING!

Been perusing the web to learn about credit spread experiences. I've been picking brains and actual experiences, to make a list of DO's and DON'TS, for my credit spread and particularly the CHANNEL (condors) CREDIT SPREADS as it pertains to my OEX INDEX trading. Should I EVER get good enough at this, to make steady money, would try some other index's. They all run in parallel more or less anyway, I notice. Ships float in harbor with the tide!
Hope I've got all my rules in place? ( grin! ) The only real big danger seems to be a one day BEAR MARKET sudden plunge? Buying back the SOLD PUTS would be my strategy to reacting to that; preferably BEFORE it hit my SOLD side of the CHANNEL. Otherwise you would get whopped with a big loss, maybe in your account, 50% gone!
Starting this week in early APRIL will be trying my ideas with the CREDIT SPREADS using THINK OR SWIM. Just got into their web site this morning and registered. Bit of a learning curve again, to putting on a spread and stuff to go through. I wanted to trade WEEKLIES on the OEX and don't know eventually if other indexes have weeklies? Unfortunately, OPTION HOUSE does not have OEX WEEKLIES. We shall see how it goes with THINK or SWIM?
Have to laugh, when somebody commented you can learn CREDIT SPREAD trading and IRON CONDORS in a few hours. Wheeew! Took me two weeks to figure it out, and look for the problems and the tricks to dealing with those problems. I notice a lot of SELLERS are advertising for MONEY, special tricks. Don't go that route myself. Don't need a BLACK BOX, like to be in charge of my own destiny. That way, nobody to blame but myself.

I had just read some guy's comments on the 90% brag that CREDIT SPREADS tout, as a profitable percentage. Whoever it was said that, commented; "that was misleading". Which I figured already, being an old fart, with enough experience in charlatans and soft soap sales pitches. I figure if you don't close your side of a CONDOR when threatened, you are going to lose 50% of your trading account, should the index trade through the sold side.

Anyway, just a running commentary, mostly for myself. To remind me when I look back at all this, to see if I was right or wrong in my opinions?

Something I'm trying to figure out? Is there actually any capability, or anybody really trading 50 contracts, per side on OEX WEEKLIES in IRON CONDORS? That is over a $100,000.
The 90% winning trades, versus 10% losing trades garbage, they say on some websites as a sales pitch, doesn't seem to cover that the 10% losing trades, only actually have to be ONE LOSING TRADE, to wipe out 'half your account' is what I'm figuring here for a CHANNEL CREDIT SPREADING called CONDOR? But I'm an amateur, untested with real cash, so what do I know? In the meantime, I think one has to periodically take some money off the table as a solution. Maybe every quarter?