The Iron Fly Agent (IFA) strategy is a MEAN REVERSION, intermediate to advanced, option selling strategy that aims on collecting near ATM extrinsic premium, while at the same time defining our risk.
One overlooked aspect to trading is commissions and their costs to the trader. Today most brokers offer very little in terms of competitive advantage compared to other brokers for most strategies. Some brokers do offer software advantages, like Tradestation is better for programmers who want to learn Easy Language and backtest trading systems, and Tastyworks offers software tailored for those looking to trade on their research.
Each investor has a different expectation on what they can get from strategy, varying from risk tolerance, average time in trade, rate of return per trade, and annualized return for a strategy as a whole. These factors make up the “personality” of the trade strategy, and must fit the trader’s personality to function within the given lifetime of a strategy’s viability.