In one of the shows he mentioned that they tried other brokers but seems only TD were open to business. He also claimed multiple times that they get nothing from their relationship with TD which I doubt
Tastytrade Review + Criticism
- Thread starter Lucas
- Start date
Theoretically a few spreads can't hurt you, but that's not how people trade. They buy way too many spreads. If you take on too many spreads and get hit hard by a big move, you can blow out your account to absolute zero.
Ameritrade gives Tastytrade a fee (a kickback) every time a Tasteytrade client places a trade through Dough.
I agree they are terrible traders but the show is light infotainment- I have challenged their research team on a few issues and they are open to fair comment-I salute TT for trailblazinf and good luck if they make millions- the same to every trader
We can agree to disagree. I don't see them as 'trailblazers'. I see them as predators. They aren't helping anyone IMO. They are putting ignorant people at risk. Karen the 'supertrader' almost got wiped out buying option spreads (and nearly lost all of her clients' money) and she's supposed to be the big star everyone should look up to. She did not do anything to save herself. Her positions were only saved when the market changed direction.
How are they predators? ToS is a brilliant platform not even available to us in the UK- Cottle is a genius, Tom and Tony are the entertainers,whenever the quant isd on they are baffled by his presentations -much of the maths leaves me behind too! When I ttarde options I have to use CBOE's option calculator-we have bugger all here- so count your blessings and go make that seven figure profit, it's so easy in the US
They are predators because they don't teach people how to make money. They teach people how to gamble. They gloss over the risks and act as if buying spreads is a limited risk enterprise when nothing could be further from the truth. All you have to do is buy too many spreads and you can be completely wiped out, as evidence by Karen the 'supertrader' getting ready to bolt to Mexico. And they wrongly hold her up as someone to emulate. They just wants your fees. They don't know how to trade themselves. They aren't doing mankind some big favor by offering a candy colored GUI to gamble with. TOS is also a gambling platform. That's all it is. It's no different than an online poker room.
I have no idea what you are on about Xenomorph but don't waste your time -go trade and make a few million
I think people should just try it and check if they make profit or not. They fail in comparing their strategy to others like simple stock trading etf bonds. Reality is options is a small percentage of an portfolio. They said that also but there is no business for them with stocks or etf so they keep with their options and mislead people that think they can trade options only. I used to like their market research a lot till I contacted their research team and found out that they don't include commission and they always use mid price +/- 1 which completely invalidate its result. Imagine someone selling a trading strategy that doesn't count commission slippage and uses a price not guaranteed to fill
Whatever.