Show notes: http://optionalpha.com/show87
Losing trades are part of the game - they are going to happen and it\u2019s a reality we must all face. And I believe what sets really great traders apart from those who are average at best is the ability to cut a loss by making smart adjustments. Adjustments that reduce risk and extend the trading timeline.
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In today\u2019s show, I\u2019ll cover the 3 option adjustment principles you should follow if you\u2019re considering adjusting a short premium, option selling strategy like an iron condor, iron butterfly, strangle, straddle, etc. These guidelines will help make sure you\u2019re always focusing on the most important aspect of trades adjustments which isn\u2019t to make money, it\u2019s to cut the size and magnitude of the loss down as much as possible.