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Finding the best Strategy; Condors, Lizards, Butterflies
- Thread starter motterpaul
- Start date
Is there any evidence that ANY of TastyTrade's traders make a profit using their high probability trading methodology ?
ps I see they have partnered up with Karen the 'Superfraud' again and allowing her to appear at their roadshows ....
I agree with your first comment but really, is there any more or less evidence that any of TT's traders make a profit than there is for any other service/firm/trader/organization?
qlai said "there are many people here who claim to be successful at this, so I hope they can share some of the concepts that makes it work for them." That's all they are: claims. You really never know how anyone is doing with their trading unless you've reviewed brokerage statements and tax returns. How many traders, gurus, or services provide for that?
As for point #2, I couldn't agree more. Very disappointing...
I agree with your first comment but really, is there any more or less evidence that any of TT's traders make a profit than there is for any other service/firm/trader/organization?
Except the only traders that TastyTrade have disclosed performance for
... managed to blow up their accounts
Except the only traders that TastyTrade have disclosed performance for
... managed to blow up their accounts
Do you have a link?
You might be interested in this link:Do you have a link?
https://macro-ops.com/karen-the-supertrader-goes-rogue/
Yes. I read that many professionals prefer to trade volatility, correlations.... but they are way over my head, my old laptop and my VBA excel spreadsheets.Maybe not as far as price, but something gotta move (or not move) to profit, no?
Do you have a link?
Despite the thousands of hours are archived video at TastyTrade
... the links to the shows in which they blew-up accounts have mysteriously dis-appeared
When asked ... The TT guys suggested that there was just not enough space to archive all the shows ... right !
Despite the thousands of hours are archived video at TastyTrade
... the links to the shows in which they blew-up accounts have mysteriously dis-appeared
When asked ... The TT guys suggested that there was just not enough space to archive all the shows ... right !
Do you remember exactly what shows? And who blew up accounts... TT viewers or traders affiliated with TT itself?
Do you remember exactly what shows? And who blew up accounts... TT viewers or traders affiliated with TT itself?
Sossy was mentoring TT employees to show that anyone can trade the TastyTrade way
... the shows were called Where Do I start
Just to be clear - Tastytrade is a very successful site and brokerage. And they are gaining more credibility every day. Karen the supertrader? Look up her story, she was a very big success until she made a technical error in reporting her income to her investors.
Her strategy is to sell premium with very large buys (usually credit spreads or Iron condors) and using TWO standard deviations are her guidelines (meaning her POP (probability of profit) would be around 95%.
Trading this way makes money very slowly and it requires careful stock picking, but her typical move if a position moved against her would be to roll out the strike to the following month (which is what TastyTrade generally recommends since you can buy the next month's same position and receive a credit to your account for time premium). That would give her 30 more days for the stock to move back within the 95% POP.
She got the large sums of money required to use this slow strategy by taking investor's money (which is generally what brokerage houses do). But what she did wrong was one time when she used this rollout strategy she failed to report the first month before the rollout correctly as a "closed trade" - which it is technically, even though the same strategy is going going forward.
I am not excusing her - she should have known better, but one can't deny her incredible success for a few years before this happened.
Myself - I am in Tastytrade, and I find the hardest thing is finding the initial buy-in strategy. Iron condors move very slowly, and credit spreads use up buying power. It is better to have some directionality to to your trades - along with some trades that are purely for premium collection.
The right stocks (high IV) in the right environment (high VIX) not moving against you too much can make this kind of trading a pretty good deal.
But if anything, I find it really hard to work the TT strategy as directed, because when stocks move my first impulse to is to take profits by rolling up my legs 0 and that makes it pretty hard to keep track of my initial cost.
Her strategy is to sell premium with very large buys (usually credit spreads or Iron condors) and using TWO standard deviations are her guidelines (meaning her POP (probability of profit) would be around 95%.
Trading this way makes money very slowly and it requires careful stock picking, but her typical move if a position moved against her would be to roll out the strike to the following month (which is what TastyTrade generally recommends since you can buy the next month's same position and receive a credit to your account for time premium). That would give her 30 more days for the stock to move back within the 95% POP.
She got the large sums of money required to use this slow strategy by taking investor's money (which is generally what brokerage houses do). But what she did wrong was one time when she used this rollout strategy she failed to report the first month before the rollout correctly as a "closed trade" - which it is technically, even though the same strategy is going going forward.
I am not excusing her - she should have known better, but one can't deny her incredible success for a few years before this happened.
Myself - I am in Tastytrade, and I find the hardest thing is finding the initial buy-in strategy. Iron condors move very slowly, and credit spreads use up buying power. It is better to have some directionality to to your trades - along with some trades that are purely for premium collection.
The right stocks (high IV) in the right environment (high VIX) not moving against you too much can make this kind of trading a pretty good deal.
But if anything, I find it really hard to work the TT strategy as directed, because when stocks move my first impulse to is to take profits by rolling up my legs 0 and that makes it pretty hard to keep track of my initial cost.