0DTE Iron Condor
Here is a consistently profitable 0DTE Iron Condor strategy
October 13, 2024
Dale Perryman explains the Poor Man's Covered Call strategy in this video
How to trade Poor Man’s Covered Call – with Dale Perryman
November 1, 2024

Backtesting options strategies made easy – with Tammy Chambless

How to backtest options strategies. Expert retail trader Tammy Chambless gives tips and tricks for how options traders can use backtesting to improve their trading.

October 20, 2024

Retail trader Tammy Chambless offers tips and tricks about backtesting of options strategies

One important step I should take to improve my options trading is to start backtesting my strategies.

I know it. Yet I don’t do it.

Thus I invited the veteran retail trader Tammy Chambless to give an introduction to backtesting for options traders. In this video, she walks us through how to get started, offers tips and tricks, reviews four different backtesting tools, and warns about typical pitfalls.

Tammy has been trading options for almost 20 years and actively shares her experience and knowledge in several online groups.

Watch the video about backtesting options strategies

The video was produced with Streamyard – an easy-to-use and smart tool for live streaming and recording

Backtesting tools reviewed by Tammy Chambless

Tammy Chambless reviews four tools to backtest options strategies in the video:

Benefits of backtesting

Tammy explains that backtesting offers her several benefits as a retail options trader:

Gain experience more quickly: Tammy notes that backtesting accelerates the learning process. It allows her to simulate trades over different periods, providing more data to learn from in a shorter amount of time.

Reduce your emotional reactions: To do backtests also helps her remove emotions from trading by allowing her to trust the data and stick to her strategy during live trades

Predict performance: While it doesn’t guarantee future success, backtesting gives a rough idea of how a strategy may perform, helping Tammy tweak and refine her methods.

Two recommended tools for options traders

  • Tradingview – the fastest way to follow markets
  • OptionStrat – trade smarter with the best visualization and analysis tools available

Where to learn more from Tammy Chambless

Tammy publishes her trades daily in the Facebook group Quantum Options. She also contributes regularly in the Facebook group TastyTrade Options.

Her main strategy is MEIC (Multiple Entries Iron Condors), which resembles my bread-and-butter strategy 0DTE Breakeven Iron Condors. She also trades METF (Multiple Entries Trend Following). Learn more about METF in this video.

3 Comments

  1. […] Learn about backtesting from Tammy Chambless in this video […]

  2. […] Iron Condor´strategy or the more disciplined Multiple Entries Iron Condors (MEIC) advocated by Tammy Chambless. This trading style tries to get the same premium on both sides of the iron condor – and sets […]

  3. […] Check out our interview with Tammy Chambless: Backtesting options strategies made easy […]

Leave a Reply

Your email address will not be published. Required fields are marked *