Anyone can follow a trade.
That doesn’t make you a great trader, all it does is prove you can continue to let someone else control your financial future, your destiny.
At Locke In Your Success our goal is to teach you to make intelligent decisions for yourself.
Take control of your future with The Broken Wing Butterfly Master Track Series.
During this track series, John Locke will show how to profitably trade Broken Wing Butterfly (BWB) profile positions on the SPX, RUT and NDX. The track series will start at a basic level from the very beginning and progress through to the advanced concepts behind the broken wing butterfly profile trade. This track does not teach a specific strategy but will cover the concepts behind all the popular broken wing butterfly profile trades including how to pick the proper entries and the best upside and downside adjustment strategies for specific market conditions.
“It’s not about discipline, and it’s not about robotically following setups that someone has taught you. It’s about understanding how markets work and defining strategies that exploit that understanding.” – Brett Steenbarger, Trading Psychology 2.0: From Best Practices to Best Processes (Wiley Trading)
The prerequisite to this track is to have a basic level of knowledge of options spreads, which means:
◦You know what an unbalanced or broken wing butterfly is
◦You have some experience trading options spreads
◦You have a basic understanding of the Greeks (Delta, Theta, Gamma Vega)
◦You know how to use analytical software such as OptionVue or OptionNetExplorer
◦You are familiar with the basic terminology of options spread trading like vertical spreads, condors, wings, T+0 line, expiration line and days till expiration (DTE)
The track includes four classes with over six hours of instruction on:
For further details, click here for a complete video index of the course
Trade Entries
- Days to expiration (DTE) – Close vs far from expiration and how DTE changes the trade
- Choosing wing widths
- Broken Wing Butterfly vs Butterfly/call entry
- Entry location relative to at the money (ATM) and how your entry effects your adjustment strategy
- Scaling entries/adjustment strategies
Upside adjustments strategies
- Adapting your upside adjustment strategy to:
- Different volatility levels
- Rising markets
- Falling markets
- Sideways markets
Downside adjustment strategies – The “Achilles’ Heel” for most traders
- How and when to best adjust to the downside for maximum protection with least whipsaw risk
- How to set risk parameters
- Planned Capital
- Profit Target
- Max Loss
Trade Exits
- When and how to exit most effectively
Class materials include: Over 110 slides for all classes and 20 different Tlog files to support trade examples
“John, I wanted to thank you again for creating the Broken Wing Butterfly Master Tracks. Now I can effortlessly transition from almost any configuration based on my market views and risk appetite. But most importantly I can now understand the difference between M3, M3U, Rhino, RTT, Roll-Baby-Roll, etc.” – Sergei
Own the entire course now for $1,195 |
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or complimentary access to one class every 30 days with our Premium PLUS membership*(*To gain complimentary access to the entire Broken Wing Butterfly Master Track would require four consecutive months as a Premium PLUS member. Click here to find out how our complimentary Track program works.) |
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