Start With Papertrading

I am a newer subscriber. I paper traded  DIA using the exact recommended prices.  I was filled right away on the 1st and 3rd leg. The 2nd leg is at $1.71. Using a limit order of $1.79, I haven’t been filled.  Can you suggest what I should do in cases like this?

My short answer:

I would have entered the trade as one, instead of three options separately.
Sounds like you will have to adjust your price to get filled. my software is showing a price of 1.76 right now. Try that, and if not, reduce it penny by penny until you get it.
 
It’s a good thing you are papertrading. It is exactly problems like there we want to overcome before we use real money.

This situation is exactly why I advise all members to start with papertrading. Look, the market is not going anywhere. I know that you are anxious and eager to [...]

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Iron Condors and Volatility

Question:

In your lesson you said that volatility is not good for options trading since you trade within  a statistical mean. If you do condor trades don’t you need volatility?  Won’t you make more money or will out of the money be the same at any price?

My answer:

The higher the volatility, the higher the option prices.
But in a condor, volatility is not as important as price action.
If volatility drops, we can exit the condor trade faster. But if it rises it just means we have to be in the trade longer. Volatility is more important in trades like calendars where it can destroy the trade if it drops too much.

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