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How To Manage A $25,000 Portfolio by Dan Sheridan

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Description of the Product Class Overview

Dan Sheridan provides a brief overview of his teaching methods in the Sheridan Mentoring Programs in this lesson. This type of lesson has never been provided before! Dan puts on LIVE trades in practically every lesson and illustrates how he integrates Weekly and Monthly techniques into a successful plan for dependable revenue. The target for this portfolio was to produce 6% of it, or $1500 a month. This session will help you start trading effectively on your own and is very practical.

Detailed course material

Dan speaks in class one about crucial factors to take into account while building a 25K portfolio and longer-term iron condors.

Introduction and Summary
How can we trade for weekly and monthly income at 16:15?
Complete Portfolio 3 Parts of a Portfolio: The Philosophy of Sheridan Mentoring 26:25- The Magic of Repeatable Trades
Technicals in Our Trading at 30:15
Goals and Strategy for Our 25K Portfolio in Chapter 39:10
42:20 – Capital and trade allocation using the VIX for the 25K Portfolio
Profit and Loss Statement 49:18
Vehicle Selection 50:07
Futures Options 1:02:05
Long-Term Iron Condors in SPX at 1:03:50 (Word Document with guidelines)
Example of a long-term iron condor to review the guidelines recently stated at 1:09:10. examined Class Trade No. 1 from January 7.
To discuss Iron Condor standards for longer-term Iron Condors, use this example.
When used, this SPX example was 72 days past its expiration date.
1:29 – Iron Butterflies: An Introduction
Course ends 39 minutes and 50 seconds

Class #2: Dan discusses Unbalanced Iron Butterfly in RUT and other factors to take into account while building a 25K portfolio.
1- Intro 3-41:20- Teaching time on the butterfly methodology and Class Trade #2 Iron Butterfly in RUT (Unbalanced Butterfly).
Dan also provided extremely extensive explanations of the Plan and changes. Dan blended new class trade with teaching time.
41:20–44:15: Class Trade #1 Review of a January 7 first placement of a 72-day Iron Condor in the SPX.
45:05 – Discussion about butterflies
54- Word Document for an earlier discussion of the Iron Butterfly
Diversification in a $25k Portfolio at 57:30
1:04 – 25K Portfolio with Core Strategies
Ideal Trade Duration in the 25K Portfolio: 1:05
How Do We Manage Greeks In A Portfolio At 1:08?
1:09- Credit Spreads for Managing Delta and Vega Risk
Specific Plans for Managing a 25K Portfolio, 1:09:35
1:11:35- Q and A
Course ends 1 minute and 17 seconds

Class #3: Dan speaks. Volatility 1- Introduction, Class Page Annotation
6:05 – Discussion of a word document on the RUT Iron Butterfly and an explanation of several rules
Implied Volatility 15:25
Standard Deviation at 23:05
39:15- Vega An illustration of how to utilize volatility in the standard deviation formula
49:40 – Spread’s implied volatility
Example of Implied Volatility in a Spread, at 57:10
Review Class Trade #2 Unbalanced Iron Butterfly at 1:06:50.
Review Class Trade #1 72 Day Iron Condor in SPX at 1:13:20. Update to 25 K Portfolio at 1:16. New Live Trade: Weekly Calendar at 1:22:10.
1:35- Q and A
1 hour 42 minutes and 16 seconds remain in the class.

Class #4: Dan and I discuss credit spreads
1- Introduction and Q&A
How do I choose a vehicle for credit spreads? 8:00
Which should I employ with my credit spreads: puts (bullish) or calls (bearish)? 24:05 Utilizing Stocks and Indices?
What days to expiry (duration) should I utilize with credit spreads? 27:35
What strike should I sell while using credit spreads? 29:35
What strike should I purchase while using credit spreads? 31:17
How to implement credit spreads at 32:55
36:05 – What is the Credit Spreads Profit and Loss Plan?
40. Credit Spread Adjustments Case Study (Using Put Credit Spread)
Profit and Loss Statement for My Case Study at 41:10
When should credit spreads be adjusted?
54:20 – Reviewing a case study illustration
How to employ insurance at the start of a credit spread, 56:20
Adjustments for Credit Spread #1: Remove some Spreads 1:06:45
Adjustments for Credit Spread #2: Roll down a strike for short options (if upside, up a strike)
Credit Spread Adjustments #3: Roll spread down and perhaps boost size 1:12:26 (If calls come in, roll up.)
1:14:52 – Credit Spread Adjustments #4 Buy Long Option (on downside put and upside call)
Adjustments for Credit Spread #5: Purchase a Vertical Spread 1:16:35
1:18:20 – Credit Spread #6 Adjustments Buy Out-of-the-Money Calendar (Puts on downside and Calls on upside)
Changes for Credit Spread #7: Transform Credit Spread into a Butterfly 1:19:46
1:25 – Credit Spread Adjustments #8: Transform Credit Spread into a Calendar 1:27:20 – Credit Spread Adjustments #9: Transform Credit Spread into an Iron Condor
Review Class Trades 25K Portfolio at 1:30:45, Class Trade #1 72 Day Iron Condor at 131:08, Class Trade #2 RUT iron Butterfly at 133:32, Class Trade #3 RUT Weekly Calendar at 1:38:19, and Class Trade #4 RUT Weekly Calendar at 1:38:19.
1 hour 47 minutes and 12 seconds remain in the class.

Class #5: Weekly and Monthly Calendars with Dan
1- Class page annotation, new trade starting on Monday, January 26
7:15 – Introduction Q&A, How much of the 25K Capital should be invested each day?
14:25 – Introduction Q&A, Summary of the Trade Scheduling for the 25K Class?
Weekly Calendars at 18:50 (following Word Document from Class Page)
Monthly Calendars 38:25 (following Word Document from Class page)
Review Class Trade #4 RUT Iron Condor with 23 days left until Expiration at 1:05:45 (Trade put on Jan 26)
New Class Trade #5 RUT Weekly Calendar, 1:08:40 Purchase 1 Feb 1190 Put (Expiration: February 20) and sell 1 Feb 1190 Put (Expiration: February 6) for $8.15 debit ($815).
1 hour, 13 minutes, and 31 seconds remain in the class.

Dan discusses the “Navy Seal aided Put Credit Spread” in class number six (Iron Condor alternative)
1- Introduction, announcements, today’s agenda, and Q&A
1:25 – Introduction – Annotation of the class page from Wednesday
7:40- Intro Q and A Would we put the Weekly Calendar back on right away since we removed it in one day, putting it on on Wednesday and taking it off on Thursday?
11:10 – Introduction – Q&A If we don’t receive class trade updates, who do we contact?
11:19 – Introduction – Q & A How do we select the best vehicle for income trades from the NDX, RUT, and SPX?
14:17- Q and A SPX moves less than Rut.
14:38- Q and A How does electronic trading in RUT and open outcry in SPX differ?
15:45- Q and A Better fills in the execution, weekly or monthly?
16:2– 25 K update of the Class Trades (Goal to make $1500 monthly)
25:00– Calendar for putting on February Trades for 25K Portfolio
34:15– Navy Seal assisted Put Credit Spread and Case Study
1:16– Review Class Trade # 4 RUT Iron Condor, put on Jan 26 1:21:18– Review Class Trade #5 Weekly RUT Calendar put on Jan 28 and took off Jan 29 1:22:25– New Class Trade #6: Navy Seal Assisted Put Credit Spread
1:33:40– Announcement of Huntington Beach Seminar on February 19 and Feb 21 Phoenix Index Seminar
Course ends 1 hr 36 min and 17 sec

Class #7: With Dan Teaching Double Diagonals and the Weekly Iron Butterfly
1– Intro: Topics covered so far in the 25K Class\s1:23– Review of the 6 Class Trades done so far in 25K Class 2:20– Live Trade #7 Weekly Iron Butterfly Feb 13 Expiration SPX $ 2046 2045-2070
Call credit spread and 2045-2015 Put Credit Spread Total Credit $21.15 Credit
9:10– Review Class Trade #4 RUT Iron Condor
11:45– Review Class Trade #6 Navy Seal Assisted Put Credit Spread
22:00– Weekly Iron Butterfly teaching from Word Document (using AMZN as example), also discussed insurance for a big move. Talked about adjustments 40:10– Double Diagonals (Used IBM as an example), and covered adjustments
49- END– Took a last look at Live trade #7 put on today, Weekly Iron Butterfly in SPX.

Class #8:Wrap up with Dan
1- Intro Class page and annotation of last class
4:50- Review Class Trade #7: Weekly Unbalanced Iron Butterfly on SPX with adjustments
17:35- SPX Price Chart of what the market did during the 25K Class
20:25- Question on Iron Butterfly Trade, would I take off entire call side if we keep going up?
21:45- Question on Iron Butterfly Trade, additional upside adjustment if we keep going up?
A few other questions from students are also covered.
27:25- What is a Couch Potato Income Strategy?
30:38- Strategies I like the best?
35- Do I ever tighten up the good side of an Iron Butterfly (Put side), when the market goes up?
Tighten means narrowing the credit spread.
37:07- Choosing butterfly width when Volatilities change?
39:17- With Navy Seal Assisted put Credit Spread versus just smaller quantity of put credit spreads?
57:15- one more last look on Class Trade #7: Weekly Unbalanced Iron Butterfly
1:00:02- (1 Hr and 2 min) (1 Hr and 2 min) Constructing trades where you have no Vega risk or reduced Vega Risk?
1:08:25- Next 2 Online Classes, Butterfly Class and then Credit Spreads.
Class Ends 1 hr and 12 min and 50 sec

Forex Trading – Foreign Exchange Course

You want to learn about Forex?

Foreign exchange, or forex, is the conversion of one country’s currency into another.
In a free economy, a country’s currency is valued according to the laws of supply and demand.
In other words, a currency’s value can be pegged to another country’s currency, such as the U.S. dollar, or even to a basket of currencies.
A country’s currency value may also be set by the country’s government.
However, most countries float their currencies freely against those of other countries, which keeps them in constant fluctuation.

Salepage : How To Manage A $25,000 Portfolio by Dan Sheridan

About Author

Dan Sheridan’s

Dan Sheridan is the Founder and CEO of Sheridan Options Mentoring. He has over 30 years of experience trading options and educating traders worldwide.

Dan is a veteran CBOE market maker, who worked with the highly successful specialist firm Mercury Trading, headed up by Jon and Pete Najarian. While at Mercury, Dan was responsible for training most of the traders including Pete Najarian, one of the current hosts of CNBC’s Fast Money.

Dan left the pits in 2004, and founded Sheridan Mentoring. He now teaches individual traders the techniques and methods he used everyday to consistently profit in the options markets. Dan also teaches professional and retail traders through many additional channels: Dan is a featured Guest of the TDAmeritrade Network. He has been featured at CBOE.com and he frequently does educational webinars at InteractiveBrokers and a number of other brokerage firms!