Trading the Iron Condor - 0 views
started by Ricky Macdonald on 09 Apr 12
started by Ricky Macdonald on 09 Apr 12
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started by Ricky Macdonald on 09 Apr 12
- Never allow the inevitable small losses to morph into big failures.
- Be accepting (although not excited) about the fact of small losses and never let them beat people down.
Your vital to success in trading this strategy is consistency in increasing profits. These profits ought to be protected. Adjusting iron condors ought to be done according to one or more pre-planned strategies whenever the likelihood for a large loss looms.
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I was a enthusiast of American coins for about 10 years when I came across 18th Century Provincial Token-Coinage. The final 5 of those years I had spent focusing my numismatic initiatives on researching and gathering early American copper coinage. Like many other collectors I always sought out the most ancient, the rarest, and the nicest fecal material American coinage possible.
In 2004 either fortunately and unfortunately that rare coin market had been booming-and had been for some time. I loved to discover my collection and what ever inventory I was holding appreciate in value but as well, this also meant that will my two favorite selection, U. S. Colonials and Large Cents were becoming increasingly difficult for me to obtain.
The funds I fancied were typically inside $800 to $3500. I preferred choice coins in grades of VF 30 or better and couldn't bring myself to purchase junkers. Thus, I was doomed to purchasing 2-3 coins a season. It was either that will or the family would have to drastically cut back on its diet.
To believe that I was being priced using my hobby, one of my life long passions, brought on negative feelings. Collecting started to loose it's appeal. We browsed on bourse floorings and auctions websites, gazing at pieces I knew I could not afford.
WHERE EVERYTHING CHANGED
Although doing some casual searching on the internet, I stumbled upon a graphic of Middlesex D& They would 833. This is a token with the effigy of Thomas Paine being hanged to the obverse (End of Pain). On the reverse is an open book with the words "The Wrongs of Man" and "Jany 21, 1793". The reverse design mocks Paine's important literary/political propagandist endeavor "The Proper rights of Man. " It was (and is still in my view) the most challenging numismatic piece I at any time laid eyes upon.
The token was at fantastic condition, AU very near UNC, and what's more, the price tag was only $150. Today that same piece would sell in the $300 - $400 range, but even this holds remarkably affordable in regards to numismatic items of that 18th Century (when was the final time you saw an 18th century EAC in AU condition for under a grand).
That was the start of it all for me.
Many other Conder Token Collectors have crossed across from EACs with corresponding stories, and there is no reason why that trend ought not continue.
Collectors love the series because of the variety and quality not wearing running shoes offers. It boasts across 7, 000 different collectible pieces. And, as stated earlier, the average collector can acquire uncirculated examples for a relatively low cost in comparison to Early American Coppers on the similar grade. Believe myself, once you grow accustomed to buying several uncirculated Conders for the price of one mid-grade EAC it's going to very difficult to revisit. Conder ASP6, Conder sewage treatment