How to Audit a Losing Iron Condor: Identifying Process vs. Bad Luck
The Iron Condor is a beautiful strategy—until a breakout tests one of your wings. When the dust settles and you've realized a loss, the most dangerous thing you can do is just move on to the next trade. You need to perform a Strategic Autopsy.
Was it a "Good Loss" or a "Bad Loss"?
In options trading, you can do everything right and still lose money. That's a good loss. A bad loss is when you deviate from your plan, ignore your Greeks, or let FOMO drive your adjustments.
Using the Autopsy Dashboard
Once you close your Iron Condor, head over to the Dashboard. MindTrajour will show you:
- The Strike Bias: Did you consistently lose on the call side during this market regime?
- The Timing Decay: Did you hold too long?
- The Emotional Correlation: Check your Behavioral Timeline. Were you "Anxious" during the first test of your wing?
Dashboard
Realized Profit (Net)
$1,250.75
+140.0% from last month
Average Trade Duration
14 days
Capital at Risk
$2,450.00
Total capital at risk for open trades
Win Rate
82.6%
+8.5% from last month
Average Profit per Trade (Net)
$178.68
+12.3% from last month
Trades
Closed: 7
Open: 3
AAPL
AAPL
MSFT
MSFT
GOOGL
GOOGL
AMZN
AMZN
TSLA
TSLA
Step-by-Step Audit Guide
- Review the Entry Snapshot: Look at the IV Rank and the spread distance you chose. Was it according to your checklist?
- Examine the Adjustments: Did you roll because your plan said so, or because you were afraid of the loss?
- Compare Strategy Success: Check the Strategy Success Rate chart. Is this a one-time event, or are Iron Condors currently your worst-performing setup?
The math doesn't lie, but your ego does. Start auditing with MindTrajour. Get started for free