Are Traders Finally Done With TastyTrade?

Sweet Bobby

Sweet Bobby

Many of you know that I have been a big fan of tastytrade. I owe much of my success and engagement in trading to them. Peace out!

But, I heard Tom Sosnoff say that he had never lost so much money over the last two weeks when he was directionally right. So, even though he was short delta, he still lost a lot of money.

Then, I listened to their show yesterday and heard so many callers calling in and talking about their losses. Then I look on the tastytrade facebook groups, and I see so many people talking about their losses.

Everytime I traded using strictly tastytrade mechanics, I lost too. Now, 20% of their Market Measures segments are pure gold and have helped me a lot. 80% is just fluff.

I'm curious as to folks who have traded the tastytrade method and have now decided to give up. Are you out there?
 
Tastytrade's big spiel is nobody can predict the future so you have to be non-directional to be profitable? I never could figure out how to trade profitable without being directional. I quit credit spreads and such when they drove me crazy from worrying about them and I could see I wasn't making the profit I needed.
 
I don't think most traders losing in the last 2 weeks is particular to TT. I bet other brokerages experienced the same. I can see 2 reasons for it:

1. The market has changed direction. The buy the dip finally didn't work. Also traders have got spoiled in this "stocks only go up" environment and have a hard time adjusting.

2. Volatility is huge. You had to increase stops or just wait it out until your position moved into profits. Again, changes in volatility also requires changes in attitude.

I don't have info from other brokerages, but if Reddit is an acceptable indicator, almost everybody was losing money last week.
 
Pekelo said:
I don't think most traders losing in the last 2 weeks is particular to TT. I bet other brokerages experienced the same. I can see 2 reasons for it:

1. The market has changed direction. The buy the dip finally didn't work. Also traders have got spoiled in this "stocks only go up" environment and have a hard time adjusting.

2. Volatility is huge. You had to increase stops or just wait it out until your position moved into profits. Again, changes in volatility also requires changes in attitude.

I don't have info from other brokerages, but if Reddit is an acceptable indicator, almost everybody was losing money last week.
More...

which sub reddit are you getting the info from?
 
Kinda shocked by this thread Bobby, from you especially.

Don't feed into the interwebs, we all know this correction was absolutely needed. We were over-extended and it was a matter of time. We shouldn't question if anyone follows tastytrade, just focus on your own account, no matter what tasty jump started a lot of us in terms of knowledge seeking and growing a foundation via options.

Every time the market corrects and its another elevator down velocity move every one gets emotional and weird. Its just price reverting back to its "mean" value area, now it will oscillate around and around this range because that's where it wanted to be all along, especially the last two months of over-extension. Its whatever man, when markets are at extreme levels you need to take extreme risk and see if your balls are brass bruh. Lets get this money
 
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