Free research, free insights, live trading, friendly virtual community and comrades in arms. What's not to like? They're ex floor traders with value preferences to match. Trading small, often, collecting premium and managing/rolling often is their style. They're typically agnostic about underlyings and have no opinion on direction, making the risk rewards on their trades more conservative. Karen the Faker happened to match the style and was featured on their free network but by no means is actually associated with them. The current low IV, bullish environment definitely isn't an ideal match for their ideology but they admit as much and provide alternative strategies. I have them on one of my screens every day.
What's the current view of Tasty Trade after Karen-the-Faker?
- Thread starter JesseJamesFinn1
- Start date
"And Tom Sosnoff is probably the next to be investigated by the SEC."
C'mon, I'll admit that their business model is to be a shill for Ameritrade and generate commissions and many of their strategies are definitely commision heavy, but Sosnoff and team have created a great service to us traders and there's absolutely nothing wrong with recommending their bokerage or platform (Dough) while providing all that value to us for free.
C'mon, I'll admit that their business model is to be a shill for Ameritrade and generate commissions and many of their strategies are definitely commision heavy, but Sosnoff and team have created a great service to us traders and there's absolutely nothing wrong with recommending their bokerage or platform (Dough) while providing all that value to us for free.
You still don't get it do you? Trading often is exactly what TOS needs to generate more and more commissions. Research? Please don't make me laugh. Their research is a joke. They will do everything to bend the parameters of the research in order to fit their trading style. Floor traders are not necessarily good options traders. Tom Sosnoff consistently refusing to reveal his trading results. The rest of the team (including his daughter) is consistently losing money.
Their mantra of selling premium on high IV stocks is a joke. Stocks have high IV for a reason. Selling premium before earnings on stocks like NFLX that can move 20-25% is a recipe for disaster, and it was a disaster more than once.
Tasty Trade is it good or bad, what is the consensus view of them here at Elite Trader because most of the long-timers know their stuff. I laughed at a recent post of a member saying something like "There is no way to make money trading, all you will do is lose your life's savings so get a rental or something"! If the kid only had $3k how in the hell is he going to get a rental, the PDT rules really screwed over the little guy. Why the Government decided someone need's $25k along with 4x instead of $10k with 2x BP troubles me. I know people who were able to day trade with $5k and turn that up to $500k(they were the rare breed of professional who could read stocks and feel the market makers and whales buying). The Government did a disservice to all the newbies wanting to enter this field.
Why did they make the barrier to entry of trading harder for kids who are struggling making $10 a hour if their lucky? Why not allow a new person to day trade with $5k so we can avoid the creation of more monsters like Karen? One of you posted some great history reads about the Con Men of the 1800s, Karen was learning from the people who printed shares to short sell against Carnegie. Karen is another lord Gordon Gordon or Jay Gould, one of the members here posted it showing cheating is something we will never get rid of.
https://www.americanhistoryusa.com/big-con-jay-gould-a-british-lord-million-bribe/
The Option Writers have been nailing it right with NFLX, AMZN, GOOGL and CMG. AMZN and CMG were perfect examples of how amazing the Option Market is at getting price correct. Did anyone buying the AMZN Calls or Puts make anything or lose it all?
And Jon Corzine, but he had political connections...
Seriously? Ask those who sell premium on NFLX in April and July 2015. Or AMZN in April 2015. Or GOOG in July 2015.
2016 is not a typical year. This cycle AMZN had its smallest move in 8 years. NFLX in Jan. 2016 had one of the smallest moves in history. On average, those stocks move more than expected, and options sellers are getting killed in most cycles.
My point is that you cannot blindly sell premium only because of high IV. And unlike tastytrade claim, selling premium is not the only strategy that works. But this strategy serves well their purpose of generating commissions for TOS, and this is why they promote it.
No, I actually get it. I don't disagree with anything you said and appreciated your previous post, I just think Sosnoff's motives (being a shill) are transparent and he's not crooked. The worst thing I hate about trading for a living is the "lone wolf, lack of social stimuli" aspect of it and TastyTrade provides this virtual office view of others doing exactly what you're doing, looking at and evaluating the same moving stocks your looking at during the trading day, and it's FREE.
They provide their views, I disagree with many of them, but who cares. The one thing I would definitely say they've influenced me is that watching the indifference they take in putting on trades, even random caller recommended trades, have helped me scale better. I used to evaluate 5 trades and put on the best one, whereas now if I invest any time to evaluate a trade, I'll likely put on some form of a trade because there's some form of strategy to match, even if my opinion is no opinion. I don't trade small but I definitely trade more often. And I know, putting on a bad trade and having to risk manage it creates even more commssions but my personal bottom line has scaled and benefited.
Hot Rod the Superdupertrader?
I wonder if she got bad advice or if she was too stupid to get any....it strikes me that the same person who thinks they can avoid a huge loss at some point when selling short straddles might also believe that the regulations aren't that important and that it might be ok to dupe the investors for a charitable cause. Did anyone think she seemed narcissistic in the videos?