How much money do I need to get started for the iron condor strategy?
For the iron condor strategy self-managed you can start with as little as $1,000 and then slowly increase the size of your options brokerage account as you become more comfortable with writing index credit spreads and iron condors. $1000 will allow you to open 1 credit spread or iron condor, which is enough to get started.
For the iron condor strategy autotrade the minimum to get started is $6500; $5000 is traded and $1500 for reserve cash (30% reserve cash is required). The next increment up for autotrade is $13,000; $10,000 is traded and $3000 for reserves. For autotrade, the account size increases in $5000 increments, plus 30% in reserve cash.
How much money do I need to get started for the iron condor strategy?
For the iron condor strategy self-managed you can start with as little as $1,000 and then slowly increase the size of your options brokerage account as you become more comfortable with writing index credit spreads and iron condors. $1000 will allow you to open 1 credit spread or iron condor, which is enough to get started.
For the iron condor strategy autotrade the minimum to get started is $6500; $5000 is traded and $1500 for reserve cash (30% reserve cash is required). The next increment up for autotrade is $13,000; $10,000 is traded and $3000 for reserves. For autotrade, the account size increases in $5000 increments, plus 30% in reserve cash.