Trader Makes 50% Returns Using Vertical Spreads & Iron Condors
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- เผยแพร่เมื่อ 13 ก.ค. 2024
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Amazing interview. Very motivating. You guys need to get him back for a follow up interview.
Tom sums it up perfect - intellectual, personal, ego, discipline and capital commitments are required to be a successful trader. It's not easy at all.
I agree with you. These words of wisdom from tom are eternal
"" Let us not downplay the commitment that is required.There is an intellectual commitment, There is a personal commitment, There is an ego commitment, There is a discipline commitment, There is a personal commitment, There is a capital commitment"""
Feel free to email me at coolchandra at gmail anytime. I did not see your comments earlier.
Chandra sekhar very nice interview and inspiring. Would like to connect
Just saw this video for the first time... very inspirational to hear your story. I wish I seen it 4 years ago. Please do a follow up interview. Thanks.
Its easy if your patient. Take it easy. The get rich opportunities come by luck.
eh. Just use bollinger bands + RSI and just dont be dumb, do the math and you're good
Chandra is an excellent motivator, his funny; please get him back! Thank you
I have been studying Options Trading for about 3 months now and... MAN I've got to say that this video/interview gave me more strength and motivation to never give up on my dream to be a trader. Chandra I wish you all the success and that this year to be way better trading year than the 2015. Now I have to do some researches about Iron Condor. I spend days and nights watching videos and reading articles/blogs about trading; like right now is 3:54am. Good luck man!!!
Good luck Markus BangBoy I'm exactly where you are!!! I'm fascinated with the stock market!!! It's amazing, when you're winning!!!!
Make any profits yet
How is trading going??
I love how people above me are interested original posters comment. Wishing all the best on their trading journey 💯
Idk eveyone who writes this stuff down never accomplish anything at the end
Give that man a beret, Another great interview. Tom and Tony have the best job ever especially when their students come back and share their success stories. But Tom's right it's not an easy business and requires committment
2015 = when i blew my account out 300K as a buyer of puts and calls. now Credit Spread Verticals only at .20 delta, favorable chart indicators, 1 week, or 2 weeks tops to expiration. Lovely SDRL.
is it still working for you or did you change how you invest in options?
How’s trading going, I got 82k blown away by gme, in liquidated all
jeez christ bro....300k??????? im assuming this didnt wreck your finances...which is good eh?
Tom is great!
It's a big commitment, It's not easy:
There is a Personal commitment
There is an Intellectual commitment
There is a Discipline commitment
There is an Ego commitment
There is a Capital commitment
What a great guy..loved every bit of this interview..very motivating.
This is probably one of the best videos you guys have.
Trading is addictive. FOMO is ruining my life. I enjoy weekdays more than weekends now. I was happier when I was poor..lol
As long as you love what you do, Just make sure you balance life too
I’m hooked now too. I love looking at markets now and am always checking on implied volatility lol
I'm trading but still poor compared to other traders and also have FOMO.
I agree, I love figuring out how much I can make, spreads and who has earnings coming up, etc.
clearly not watching tasty trades
Strategies are detailed in 7:55
Can we get an update on this gentleman? He's very good to listen to.
Very motivating. Thank you! Loving the humility.
Awesome interview! Gives me much hope in myself.
Awesome. I needed this video today lol
Thanks guys for sharing this with us, what a lovely and insightful interview
That is an excellent return on spread trading I must admit..
Love this! I am this guy 100%. Thank you tasty for this opportunity!
Way to go Chandra !!!. Congratulations and wish you all the bestbud !!
I'm exactly following your path Mr. Chandra. I go on walk with tasty videos going on in background. Quitting my job in another 6months and become a full time trader. Hopefully!!
Why not keep the job and trade at the same time? It is not day trading, why wouldn't you do both?
how did it go? its a year now
@@Leshic2 I don't think it went well 🤷🏿♂️ I'm trading and building a cushion now I'll be making my jump next year
Excellent video...and a local boy! I love you Miami! (ok Ft. Lauderdale pero whatever...;) )
I'm newbee options trader from India. So far all these years trading just day trade future. But ongoing regulation finishing intraday leverage. Forcing me to option.
Tasty trader have fantastic content and is increasing my knowledge on option trading.
Lot of regards to you from India
Both of you are very generous. We are being educated day by day
Thank you! Tom, Tony and Chandra. I took good notes from you. I'm going to star moving my vertical spreads a little farther from the money. Less risk and less pressure. Great interview and inspiring wisdom. Bless you all!
Good.
my story is same, hanging in for years not losing a lot but not hitting it either! V interested to hear how he changed!!!
Amazing and inspiring to see a year from India so so well in us markets.
Its a challenge but I'm trying to apply these principals in Indian markets though the margins are so much higher.
Is there something preventing you from trading US markets? Maybe it's just a matter of sticking to what one is familiar with. Good luck. Stay with it. Half the battle is showing up.
I believe in equity Day Trading. I always thought that Risk Reward of Credit Spreads is bad and I don't know to make adjustments. Can Tasty Trade please make live trading videos for credit spreads, Iron condors
Sir, very interesting & motivational video. You are very humble & my sincere thanks🌹
Great interview! Thank you!
Amazing video and amazing story. Thank you for share.
4th time watching! Oldie but goodie!! Consistent Profitable Trades! Tasty baby!
Fascinating!!!! Loved it!
I agree
I love this guy! Would like a follow up!
Taking the stress off, I feel that, and I'm totally gonna work more to take the stress off till I get my numbers up. I trade like shit when I have worry about going backwards in savings, so 1 day I hope I get there. Good to hear this
Outstanding job Chandra! Would you mind helping me understand what your return was after commissions in 2015?
Seems most people should start in the ETF's before trading in the indexes!
Indexes ARE a form of index. No one directly trades an index. The only way to trade them is through ETFs. And indexes are safer than specific industry ETFs.
AnantaSesaDas im pretty sure you can trade indexes. ive made a call on $SPX before.
Nice work Chandra. If you don't mind sharing, I am curious to learn how much commission was required for your trades in 2015?
its amazing, if its year after year after year after year
very inspirational. a follow up is necessary. it would be very interesting if he shared his trading plan, since you are a computer programmer perhaps you can write an algorithm to do what you do
Great interview
I do intraday....and works for me....not into spreads but do know how it works...
I am a big data architect and very inspiring
Might I add NDX to the mix? I used to trade SPY, but upon learning about the benefits and safety of European style trades, I was convinced to stay predominately with SPX - stopped SPY completely - and am learning NDX on Think or Swim web platform. Thirty days paper trade profits on $200,00.00 = $27,568 on NDX. I do prefer SPX, though - for the time being as I am learning...and listening to Tom and Bat!
Ok he is the best I’ve heard so far. Thanks you guys for sharing.
Is there a way for me to know what 300 trades (stock, etfs etc) chandra traded in the month of Jan and Feb 2016. His stratergy is really impressive and will work. Just wanted to know the insruments he trades.
He said spx and spy
Please bring him back on!
good content
Great interview!
Let's see an interview with him again 2 yrs after a bear market. Hope he has some good risk management in place. A trending market makes anyone look like a hero. Best wishes to you .
you can sell puts in a bear market
He was trading in the dot com penny day even wwhen it was collapsing I dont think todays bear market can compare to that collapse plus short selling the stock and options are how there is a bear market
awesome interview ..thanks for sharing
In Option Selling The Key Is To Manage The Risk Properly Rest Out Of 10 Trades 7 Will Be Gaining.
yes keep pumping
There’s also that Indian culture element of telling your parents. “What do you mean you quit your awesome corporate job and are self employed?”
very motivating..
I’d like to see how he’s doing nowadays.
He teaches a class on options on UDemy.
@@ricomajestic that's not promising....
@@ubrtrgandubrtrg3996 He probably makes more from the class then from option trading and it is risk free.
Chandra sir can you suggest any Free site where i can get implied & historical volatility Chart/Indicator for INDIAN stocks..to calculate IVR
Sensibull website in India offers free Greeks
Chandra Nice Story I came across. How is your journey going and is it possible to contact you on any questions I may have?
Tom - Can you do an update interview? I bet he is very successful.
I played poker professionally. There are MANY similarities between the two., All the skills i learn in poker I can directly transfer to trading.
not bluffing, or posturing. No faces to read. No card situational guessing.
Almost no poker skills are applicable to trading other than understanding probabilities.
@@2011blueman Using money as a tool, controlling emotions, dealing with losses, being methodical, grinding small wins.
Leggo My Ego money management and bet sizes are very transferable
key strategy at 1:54 and 3:32
solarguyable he just mentions vertical spreads at those times lol. That’s in the title
The Sam Kinison of Options Trading?
Aggghhhh!!!
Follow up video on how to protect all this gain from taxes, can you open up a business to protects capital gains
Bravo Chandra 👍✌️
When he says that he trades iron condors when the underlying is trading close to the mean, how does he measure the mean?
Great interview. He mentions something like “not touch if theta less than 1/100” what does that mean?
theta represents extrinsic value decay in our favor - if theta is too low, that means we're taking a lot of risk relative to the potential return on that risk.
www.tastytrade.com/tt/shows/trade-logic-unlocked/episodes/theta-as-a-risk-proxy-03-21-2019
If theta is less than 0.01 per share. Each option is 100 shares so that theta would be $1 per trading day.
Great guy!
I would love to trade options professionally, but I get overwhelmed by terminology I don't understand. So I'm watching videos for beginners to try and get myself more familiar.
I don't have a whole lot of capital to start with, so I need to make it all count. I know losses will be incurred, I just want to be able to understand the hows and whys of it all...
Someday I hope I can say I quit my job and I'm making $5k+ a month trading!!
Just sell two out of the money option contract, their strike price should be range bound. I mean market don't crash everyday or have a bull run. So you can make money as at expiry all premium goes in your pocket. If you don't want to watch market continuously, buy 1 more contracts of call and put each. This will limit your losses
@@tnaithani1 hey, do you trade in the US market?
Thx so much for the video --I've been trading /studying for a few years now---almost the same as u but much smaller ---do u trade ever trade iron condors as two verticals put on separately or do u iron condors -----also what IV rank you wait and sell credit at ---thx for your advice -
which delta do he choose for Vertical Spread?
gives me motivation! boom
Awesome!!!!!!!
Where can I get more info on the Tasty Trade courses Chandra took?
+Nelson Rodriguez www.tastytrade.com - I would start with the "WDIS Bat vs Bat" series. Market Measures are also interesting.
TastyTrade.Com and go to the "LEARN" section. Start with the vertical spreads. I made myself a grid. Once you get the vertical spreads down, all other trades are variations of that. If you're looking for defined risk trades after vertical spreads, you can try an Iron Condor. Also, if you have a Tasty Works account, you can follow the trades of your favorite traders throughout the day.
im still having a little bit of trouble understanding the "selling a way OTM spread for 10 days and made $350"only way is if he traded 100 contracts. something like that yields you about $3-5 credit but with a potential to lose 40-60. OTM calls the further out you go, the less delta you'll get but higher the probability, not to mention a 10 day expiring contract is something significantly decayed and premiums are much less at that point.
he was saying it as his kinda first trade, an eye opener.. not his best trade... something worked for him. he didnt say he is using that pattern as his methodology
In hindsight, I bet Chandra is happy that he left Royal Carribean. I wonder how he is doing this year.
What delta do you use on your credit spreads? Education I received said .30 delta but someone else told me that’s too high...
Usually around 0.30, we can go lower or higher, but we like to collect 1/3rd the width of the spread regardless. Totally up to you though!
tastytrade Tyvm! Do you have any trades/recommendations of trades where we could do a 1 day or few days credit spread?
We don't sell weeklies because the credit is not worth the risk in our eyes, so unfortunately not - we stick with the 45 DTE window.
tastytrade I get scared with that cuz I’m thinking I gave it 45 days to violate my sold line...😰 Is that wrong thinking? I’m terrified cuz who can afford 100 literal shares haha not me YET🙂. But... does it have to expire in the two lines or just cross it in order to get exercised( or assigned)?... #Newbie
If you sell a spread, it doesn't automatically get assigned if the stock cross the strike - early assignment is very rare. Either way, as long as you have the long option protecting your risk, even if you do get assigned you'd just be required to close the trade if you can't afford the shares.
I CAN'T DO IRON CONDOR AS HIGH IV IS IN PUTS SIDE (SAY 50INR ), CALLS SIDE (SAY 5INR) . WHAT SHOULD BE DONE ON THIS ACCOUNT? KINDLY LET ME KNOW
High IV helps in collecting good premiums
Where’s the link for Tons 20 Tasy Trades commandments ?
16:00 wow
Does anyone have the link for the 20 commandments by Tony as mentioned by Chandra? Thanks!
Here it is - tastytradenetwork.squarespace.com/tt/blog/-tastytrade-trading-commandments?rq=commandments
Iron Flys during earnings he said? Interesting... Iron Flys reach top profit when the stock price stays exactly the same... Earnings usually has a run up and a jump.. seems like it wouldn't work. I'd like to see how he does it.
These can work if the brekaeven points account for the expected move, and the stock stays within the expected move after earnings.
@@tastyliveshow thanks. You guys rock
Did I hear right Between January and February he had 700 trades open or closed? Man, that is way way too much for me. I'd only be able to cope with tenth of that, probably much less! I wouldn't know what to trade?
Really 300 they said 700 because the trades were spreads
I'm literally on the treadmill watching this right now lol what a coincidence
Can we get an update on how he's doing as of today?
I am still trying to figure how to do a bracket order with TW
tastyworks.freshdesk.com/support/solutions/articles/43000544221-how-to-set-up-a-bracket-order
Thank u
must follow trading plan to the dart
He said “if the market is away from the mean” it determines which strategy he uses. How do you know where the mean (I’m assuming average) is, which can then help you choose the best strategy?
Typically we're referring to the mean implied volatility level - IV Rank helps us see that over the past year, and then we determine our strategy from there. IV tends to be pretty predictable, historically speaking.
im addicted to trading. i have an amazing 6 figure job that ill be walking away from as well!!!
Wow wonder where this guy is today
what is theta 1 by 100, is he saying is theta .01 and if so is he saying don't trade?
How can traders enter a volume of trades when the IV percentile is usually low for most underlyings and not enough occurances? I don't understand how he has thousand closing trades in a year with no account for IV..
IV Percentile > HV Percentile. IV Percentile > 25. If you want a large number of occurrences you've either got to just focus daily whenever IV Strikes or find some nuanced variation of the options edge like I stated above even tho the percentile isn't > 50.
Just how I do it though, I suggest live testing and backtesting on data to see what may work for you
Where can I find Tony's 20 commandments of trading that this person mentioned?
Here is the blog post:
tastytradenetwork.squarespace.com/tt/blog/-tastytrade-trading-commandments
@@tastyliveshow Thank you, thank you, thank you!!! I am coming your way to join once I learn a little more.
@@tastyliveshow this link doesn't work any more. Is there some way I can still find this?
So where is Chandra now?
This got most of its views because host looks like Kinison
Not all heroes wear capes.
What would be best software in the market to search those option strikes?
we use tastyworks - more info on tastyworks.com
This is 6 years ago. He still in business ?
What is a good allocation for each position ~45 days out, taking profits at 25-50%?
Statistically, yes. And managing the trade @ 21 days.
He teaches a class on Udemy.
What are the strategies to start a trade-for-a-living with $10,000 account?
lol