would love to know how the average TastyTrader has done in this
- Thread starter NewTraderAdventure
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Yessir, look qaz, I met Tom years ago at his new studio. It was a great experience. Their studio is top tier and I even got to see their research from the data guys. Tom was very nice to me and Tony was especially friendly and sat me down and spit some financial game to me.
That same day I had lunch with Al Sherbin above the CBOE. At this time he just departed from tastytrade, and I asked him how was it working with them? He had nothing but positive energy to tell about Tom and Tony and the team. Mind you, Sherbin was the original creator a lot of the market measure, best practice etc content. Also Sherbin published a book a few years back, you should get it, very informative.
After I met Sherbin, Andrew Keene invited me to his office a few blocks away. I got to see Mr. Keene trade options intraday using order flow and other things that at the time was over my head (I was 24 at the time). I also asked Andrew about Tom and tastytrade since I was just there and was curious of his thoughts since Keene trades entirely different than Tom. Andrew had nothing but good words for tastytrade. He said he respects Tom's hustle.
So when I see some of u guys being so critical of shit that really doesn't matter (like Tom's P/L) I just laugh. No matter what, people will find some shit to mope about and ignore the insurmountable other side of that person that delivered so much to the game it makes you look like a pebble in a pond.
Cheers
This post is spot on.
Only exception is you said Tom probably didn't make a dime trading at the CBOE. He made a living trading in the pit. So did Tony. They both traded in the pits for 25 years.
Yessir, look qaz, I met Tom years ago at his new studio. It was a great experience. Their studio is top tier and I even got to see their research from the data guys. Tom was very nice to me and Tony was especially friendly and sat me down and spit some financial game to me.
That same day I had lunch with Al Sherbin above the CBOE. At this time he just departed from tastytrade, and I asked him how was it working with them? He had nothing but positive energy to tell about Tom and Tony and the team. Mind you, Sherbin was the original creator a lot of the market measure, best practice etc content. Also Sherbin published a book a few years back, you should get it, very informative.
After I met Sherbin, Andrew Keene invited me to his office a few blocks away. I got to see Mr. Keene trade options intraday using order flow and other things that at the time was over my head (I was 24 at the time). I also asked Andrew about Tom and tastytrade since I was just there and was curious of his thoughts since Keene trades entirely different than Tom. Andrew had nothing but good words for tastytrade. He said he respects Tom's hustle.
So when I see some of u guys being so critical of shit that really doesn't matter (like Tom's P/L) I just laugh. No matter what, people will find some shit to mope about and ignore the insurmountable other side of that person that delivered so much to the game it makes you look like a pebble in a pond.
Cheers
I do not subscribe to Tom's philosophy of selling options but I do appreciate all that he has done for the retail , narrowing the gap between retail and institutional traders. I would like to meet the man when i have the time.
Oh, we respect his hustle too. He is an excellent businessman. He just can't trade options.
Whatever you wrote could have been said about Madoff... Just because you admire the man that doesn't mean our criticism isn't valid.
Every man is fallible, and deserves critisicm. But this chatter is not critisizm man, its pure negativity, that's not the same shit.
And heres the thing Pek, you are claiming Tom cant trade. I am not claiming anything, I have no idea if hes profitable or not, but YOU on the other hand, somebody who has never seen this mans P/L, claim hes a bad trader.. HOW SWAY????
I'm not criticizing these men. I can give a fuck about another mans P/L. Tom IMO is a classic personality, and brought a lot to the industry. As far as his option trading, I don't know, don't care. He trades full-time WHILE hosting an entire network 13 hours a day, Tom has even said the show definitely hinders his performance, and of course it does.
But Pekelo, I'm not hating on Tom, i'm just defending the obvious because these dudes come in every once in awhile and throw out these outrageous claims so I had some time to pluck each feather easily. Its okay.
Al wouldn't ever rip on them as Al isn't like that.
Why did he leave?
Does Al trade the Tastyway?
Are some of the studies misleading or shall I say flat out wrong?
Getting back to the thread title, the average trader is getting killed, just listen to the calls. Why wouldn't they be getting killed, Tom has said he has never lost as much money as in this down move.
That's the point.
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Are you surprised avg traders are getting killed? I mean c'mon, they are "avg" right?
Anybody who has 20-40 open trades mostly if not all of it is short gamma and long theta, OTM stuff. If this guy doesn't hedge or stress test his portfolio for a magnitude move, then obviously he's in trouble. Not all the people who call in are in trouble, but yes people do call in and ask for help, most of the time the best answer really is just realize the loss and move on to the next. Never position yourself where you lose a large percentage of net liq on any single trade.
I wasn't looking for Al to talk negatively about tastytrade, but I was curious on why he left. He did not get into specifics but read Al's book to learn how he trades. Let's just say he's usually short gamma as well, but he's more ATM. But he trades similar to the tasty method and in his book he claims he's never had a losing month.
And this is never a TT principle, thus the danger of all their "good" info.