There are many ways to trade earnings, however, for small accounts, we like to focus on a couple core strategies:
One approach is to define the risk; this can substantially reduce margin and potential loss. This allows for a high number of occurrences of high probability trades (iron condors).
Another approach is to increase the probability of profit. This can be achieved by “skewing” positions i.e. eliminating one side of the risk.
Ultimately, earnings allow us to increase our number of occurrences, but in smaller accounts, we may need to define our risk when putting on these positions.