Chicago
Experience: Beginner
Platform: IB TWS, Tastyworks
Trading: SPY Options, Equity Options, CL, Gold
Posts: 304 since Jan 2014
Thanks Given: 124
Thanks Received: 139
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Hey all, I've been trading options fairly actively for the last few months and have been trying to nail down an effective way to evaluate my strategy. Basically I want to keep track of if my reasons for entering a trade (primarily selling high IV) and price action predictions were sound. This has proven difficult due to there being so many different positions you can put on based on the Equity, and it's price action outlook.
When I was tading futures it was much easier to just keep track of entries/exits and you could see pretty quickly if what you were doing was working. Since I'm trading different spreads for different reasons on different equities, I've been looking for a little guidance on how to nail down a strategy, determine if it's working and thus be able to optimize it.
Here is the spreadsheet i'm working with now, what do you guys think?
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