Sosnoff and Tasty Trade...one trick ponies. Now that vol has probably peaked, their simple-minded strategies should probably start working now.
would love to know how the average TastyTrader has done in this
- Thread starter NewTraderAdventure
- Start date
I should have follow you. Where were you when I needed you?
Would have been better if I closed positions more aggressively earlier in the drop. Like most people, I thought I had more time and also a bit of loss aversion. Most important lesson I learned from this though is don't risk holding weak positions. Only hold the best and strongest growth companies with good earnings. Look at how well AMZN and MSFT have held up relative to XLU, the utility ETF which dropped about 20% in a week. That's supposed to be defensive! I don't even want SPY. I'd rather just buy the strong companies that held up the best now and outperformed by the widest margin during the past 5 years. The FANG stuff. No reason to own anything else although some of the stuff that got absolutely killed might come back quickly depending on what happens.
You are right.
In the last few days I started to get rid of dogs and put the $ into something with more upsides, within the same sector. I noticed everything went down at about the same percentages.
TastyTrade gets hate, and I understand why.
Regardless, you can't knock the platform Tom has created.
Its amazing how many sneak thief's and frauds there are in this trading community, and out of all the guys to receive hate: Sosnoff?
To me hes one of the realist "personalities" in this game. I mean cmon dude, look at Jason Bond, why don't you diss his strategy and following? Raging bull is a bunch of clowns compared to Tastytrade.
Anyway, how have you done in this market OP? I see you around these forums touting others, big man.
#Edit
Please don't shout about Tom not revealing his P/L. That's horseshit. Nobody is obligated to show you their personal accounts, he trades live daily while hosting a show, yeah maybe Tom isn't the best trader, maybe selling 30 deltas, cheap gamma, not understanding vega convexity, isn't a novel strategy, other than all that I've learned soooo much shit from TT and still do. I'd rather watch them anyday, nobody in this industry even compares as a network. Try naming one, the only one I can think of is maybe TD ameritrades trading network?
Regardless, you can't knock the platform Tom has created.
Its amazing how many sneak thief's and frauds there are in this trading community, and out of all the guys to receive hate: Sosnoff?
To me hes one of the realist "personalities" in this game. I mean cmon dude, look at Jason Bond, why don't you diss his strategy and following? Raging bull is a bunch of clowns compared to Tastytrade.
Anyway, how have you done in this market OP? I see you around these forums touting others, big man.
#Edit
Please don't shout about Tom not revealing his P/L. That's horseshit. Nobody is obligated to show you their personal accounts, he trades live daily while hosting a show, yeah maybe Tom isn't the best trader, maybe selling 30 deltas, cheap gamma, not understanding vega convexity, isn't a novel strategy, other than all that I've learned soooo much shit from TT and still do. I'd rather watch them anyday, nobody in this industry even compares as a network. Try naming one, the only one I can think of is maybe TD ameritrades trading network?
How have the other premium sellers (only sell options) been doing? Jeff Bishop (#1 options trader in the world), Option Alpha (Kirk Du Plessis), and the M3 butterfly guy - John Locke.
Probably pretty good with the VIX crashing from 80+. But they probably got fleeced today with the big move and VIX unchanged. Short gamma can be a bitch.
Probably pretty good with the VIX crashing from 80+. But they probably got fleeced today with the big move and VIX unchanged. Short gamma can be a bitch.
You cant be serious lol
Except Sossy's argument is when challenged goes
... I have made a living trading this way for 30 years
... However, I won't show you my P/L ... you will have to take it on trust
... But I will demonstrate by training up some newbies ... which almost always end in disaster
... and by the way ... Karen the SuperFraud is still the greatest retail trader he has ever seen
Sossy is so traumatised by the current 'two-way' market action ... and must be underwater on everyone of his 80+ short strangles ... that he didn't actually trade for 2 days last week ... just stuck in the headlights
Don't forget after the 1987 crash ... he couldn't bring himself to sell naked puts for nearly 20 years ...
He has a great track record building trading platforms
... absolutely zero track record as a retail trader ... and he is the one who calls out all the scams and shysters
if you dont believe us just ask him and he'll tell you all about it.
