This strategy is a Broken Wing Butterfly profile system like the M3 that is traded on the SPX. It will be taught in multiple phases, ie beginner, intermediate, advanced but with the more advanced covering condorization strategies.
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This Entire Comprehensive Training System will have: -The THREE X4 trade guidelines and how to use them to profit in any market environment. -With over 20 hours of instruction and examples -Access to hundreds of informational slides -Access to the LIVE last classes of the system $2,995 |
Prerequisites to the X4 Track:
–Unbalanced Butterfly 1 & 2, Unbalanced Butterfly 3, Broken Wing Butterfly Master Track Series, and experience with live trading and execution OR
–M3 experience with live trading and execution OR
-Experience live trading complex options spreads in general such as Condors or butterflies AND experience reading analytical software such as OptionNetExplorer or OptionVue as well as a good understanding of options Greeks
This strategy’s backtested results since 2011…
Phase 1 – Class 1 – Overview and X4v14 Trade Guidelines
-Purpose of the X4 Trading Program
-Description of the beginner, intermediate, and advanced teachings
-X4 base structure
–OptionNetExplorer settings
-Review of backtested performance from 2011 to May 2016
-X4 risk parameters and entry guidelines
-Upside, Downside adjustments, and exit criteria
Phase 1 – Class 2 – Examples and clarifications with a live trade review
-Backtest results presented
-Analytical software discussions
-Examples of the X4 trade
-Put protection
-How to determine a “High” or “Low” value day
-Review of live X4 trades
Phase 1 – Class 3 – X4v22 class example Jan 2015
-Intermediate level trade X4v22 description
-Backtest performance results
-Risk parameters & entry guidelines
-Downside and upside adjustment triggers
-Compare this strategy to others
Phase 1 – Class 4 – X4v22 Detailed Guidelines and Examples
-Base structure, risk parameters & entry guidelines
-Trade entry
-Upside adjustments & Put protection
-Trade examples
-Trade debrief, viability testing & pricing
-Back testing
Phase 1 – Class 5 – X4v22 Back Test Examples
-Trade entry & entry tips
-Rolling the position
-Upside & Downside adjustments
-Trade exits
Phase 1 – Class 6 – X4v17 Trade Guidelines and Examples
-Trade description
-Backtested performance
-Entry Guidelines
-Upside & Downside adjustments
-Exit triggers
-10 Step Process For Becoming A Great Trader!
Phase 2 – Class 1 – Overview, Why Income Trading Works, What Drives Options Prices
-Technical & Volatility Analysis
-Adding Subjectivity
-Implied Volatility & the Greeks
-Professional traders & emotions
Phase 2 – Class 2 – Understanding What Drives Options Prices
-Implied Volatility & Skew Curves
-Extrinsic Value
-The “Brexit Story”
-Implied Volatility Analysis
-Horizontal Skews
Phase 2 – Class 3 – Technical Analysis for Income Traders
-Market Structure
-Chart Basics
-Support / Resistance
-Trend
-Price Patterns
Phase 2 – Class 4 –Technical Analysis for Income Traders (continued)
-Review 15 different Price Pattern configurations
-Examples of charts for different terms
-Candlesticks
Phase 3 – Class 1 – X4 strategy comparisons and alternative BWB entry and adjustment metrics
-Four things you need to know about adding subjectivity
-Strength and weaknesses of the X4 strategies
-Characteristics of the X4 strategies
-Adjustments and dealing with downside moves
Phase 3 – Class 2 – Alternating trade strategies and/or adapting positions based on what we have learned about technical analysis, IV analysis, and modeling deficiencies
-Reading the market
-Plan the trade
-Switching between the three X4 strategies
Phase 3 – Class 3 – Trade execution and market timing for entries, exits, and adjustments
-Mid-Price discussion and exercise
-What to use to determine value
-Trade execution and exercise
-Market timing
Phase 3 – Class 4 – Hedging and Alternative Hedging Structures
-Preparing for worst case scenarios
-Benefits and risks of hedging
-The Kennedy Hedge
-Complex hedges
-Plusses and minuses of OTM puts and straight ratios
– Diagonal Ratios and Exotic Combos
Phase 4 – Class 1 – Clean up, Expectations, and Analytical Software
-Amendments to X4v17 trade rules
-Hedging discussion
-Trading expectations
-Fuzzy Math spreadsheet
-Consistent Planned Capital Level
-OptionVue settings & differences
Phase 4 – Class 2 – Swapping within the strategies based on market opinion and/or other factors
-Trade all THREE X4 trades at one time
-Switching between the strategies
-Conditions to avoid
-Identifying market conditions for X4 trade 2011-2018
Phase 4 – Class 3 – Making Better Trading Decisions and Not Overlapping Trades
-Making better trading decisions
-Trade plan alterations
-Review of unfavorable environments
-Transitioning between X4 trades
-Examples
Phase 4 – Class 4 – Wrapping Up
-Procedural changes for smaller account size
-Small position examples
-Procedures for success
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This Entire Comprehensive Training System will have: -The THREE X4 trade guidelines and how to use them to profit in any market environment. -With over 20 hours of instruction and examples -Access to hundreds of informational slides -Access to the LIVE last classes of the system $2,995 |
