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tastytrade.com

  #31 (permalink)
Elite Member
Edmonton, Alberta
 
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Pedro40 View Post
OK, let's see who is off base here:

1. Tom's wealth didn't come from trading profits, he sold ToS. So rather irrelevant to the conversation.
2. TT might be free now but it wasn't a year or so ago. I apologize if I am not up to date on it, but if he is a multimillionaire, why did he sell subscriptions? (or better yet, why would anyone pay him 1000$ a year?)
3. Isn't this the definition of hack?: " is the fact that they also take Big directional positions in futures with no stops."
And why is he taking those bets in futures if he is an option expert? As long as he can not show at least a slight positive return in options, he qualifies as a hack.
4. The show might be highly entertaining, but so are Nascar crashes.

Recap from the past:

"So Tasty Trade could put you back $90/month if you didn't know any better. "

IN THE MONEY TRADES: Tasty Trade - Free Option Trading Education


I am not arguing with you, my only point is that Tastytrade is free for viewers. Tastytrade is a financial network with 60 full-time employees offering lots of solid information on options for free. The Market Measure segments are almost always excellent. Watch if you want to, there are no obligations to spend a single dime.


Last edited by gfmatt; August 31st, 2014 at 07:37 PM. Reason: additional info
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  #32 (permalink)
Elite Member
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rmejia View Post
Where did you get this info from? Where can we see his current positions?...

I've always been under the impression he does it for fun, to throw around a few dollars for kicks and giggles.

You can't see his positions or size, only his trades. He has mentioned before that he started shorting ES around 1680 and with a few averaging up plus the profits from his smaller scalps, he has raised his average cost. He mentioned at a later point that his basis was in the mid-1700's. Possibly he has got it up to 1800 or higher but I doubt it. That is the one area where he is not fully transparent.

I agree he does it for fun, but he has stated that his ES position is very large (just like his bond position was a few years ago).

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  #33 (permalink)
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Pedro40 View Post
2. TT might be free now but it wasn't a year or so ago. I apologize if I am not up to date on it, but if he is a multimillionaire, why did he sell subscriptions? (or better yet, why would anyone pay him 1000$ a year?)
3. Isn't this the definition of hack?: " is the fact that they also take Big directional positions in futures with no stops."
And why is he taking those bets in futures if he is an option expert? As long as he can not show at least a slight positive return in options, he qualifies as a hack.

I watched it for the first time more than a year ago, and it was free then. They have a paid service that lets you see all their positions in real time, I think, but the actual "channel" is free and has been for as long as I've seen it. I don't watch it but I catch youtube clips, and it's tons better than CNBC or FBN or any of the other distractions that teach people nothing at all. Just watch "options action" on Friday 5:30pm ET on CNBC and compare it to any segment on tasty trade and you'll see which one contains more actionable, useful information.

One of the things I really appreciate about him is that he is willing to adapt. For example, in the past he did did not look at where the IV of an option ranked historically (for example, an IV of 50 may be "high" but still the lowest for that issue in the past 12 months). But after doing a number of studies, he found that the IV rank is a vastly important measure of how a trade will perform, so he uses it extensively now. They are constantly doing studies to challenge their own status quo, and are actually willing to change. This is an admirable quality for someone who is as experienced and has been in the business for three decades.

I'm not sure if you have actually ever listened to Tom Sosnoff, but if you did, you'd realize that you can learn a lot from him. By "listen," I mean put away your negative opinion, which seems to pervade so many of your posts, and actually try to learn something, without filtering it through your negativity. It's truly laughable that you're calling a 30-yr options trader a "hack."

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  #34 (permalink)
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josh View Post
I watched it for the first time more than a year ago, and it was free then. They have a paid service that lets you see all their positions in real time, I think, but the actual "channel" is free and has been for as long as I've seen it. I don't watch it but I catch youtube clips, and it's tons better than CNBC or FBN or any of the other distractions that teach people nothing at all. Just watch "options action" on Friday 5:30pm ET on CNBC and compare it to any segment on tasty trade and you'll see which one contains more actionable, useful information.

One of the things I really appreciate about him is that he is willing to adapt. For example, in the past he did did not look at where the IV of an option ranked historically (for example, an IV of 50 may be "high" but still the lowest for that issue in the past 12 months). But after doing a number of studies, he found that the IV rank is a vastly important measure of how a trade will perform, so he uses it extensively now. They are constantly doing studies to challenge their own status quo, and are actually willing to change. This is an admirable quality for someone who is as experienced and has been in the business for three decades.

I'm not sure if you have actually ever listened to Tom Sosnoff, but if you did, you'd realize that you can learn a lot from him. By "listen," I mean put away your negative opinion, which seems to pervade so many of your posts, and actually try to learn something, without filtering it through your negativity. It's truly laughable that you're calling a 30-yr options trader a "hack."

I have been watching TT for about a year now and they have really opened my eyes to the options game. I still do not have anything I can do or trade for Options. But I have a much better understanding of how they work and why traders will use options.

It has been completely free in terms of the videos since I first watched them. I agree spending 30 mins on a TT video is better then wasting time on CNBC or Yahoo Finance (which I am still guilty of doing from time to time.) Although Seeking Alpha is my new time waste at the moment.

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  #35 (permalink)
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tturner86 View Post
I have been watching TT for about a year now and they have really opened my eyes to the options game. I still do not have anything I can do or trade for Options. But I have a much better understanding of how they work and why traders will use options.

It has been completely free in terms of the videos since I first watched them. I agree spending 30 mins on a TT video is better then wasting time on CNBC or Yahoo Finance (which I am still guilty of doing from time to time.) Although Seeking Alpha is my new time waste at the moment.

If anyone has the ear of someone over there and can get them to email me, I'd like to invite them to do some webinars on futures.io (formerly BMT).

Mike

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  #36 (permalink)
Hyde Park,
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NLD1888 View Post
3. By the end of 2012, I've decided to unsubscribe all the services and learnt to develop my own system which suits my style. For 2013, I've adopted swing trading based on a book I've read authored by Brian Shannon. The new trading system that I've developed was also been influenced by the teachings from Van Tharp, Kevin Darvey & the many knowledge found in futures.io (formerly BMT). So far, the investment spent to being a futures.io (formerly BMT) elite member bears the best returns. In 2013, I was able to make 10%+ profit. This is also the 1st time I have made $$$ from my own developed system.

In a similar fashion, I also read some Van Tharp and Brian Shannon is a big asset with his (hard cover only) book lol. That is part of the reason why I couldn't really get on board with TastyTrade to be honest. TastyTrade definitely puts a greater emphasis on Probability of Expiring worthless and the likes, but to be that stuff is irrelevant when a good pattern comes along imo. Also, for the average credit spreads, the reward never warrants the risk imo.

I like Sosnoff as a character though, fun to listen to talk to and ramble on about any and everything. I remember back when he used to have Weekly wrap-up analysis on ToS back in the day. They are archived as well on the platform if I remember correctly. With that said, I'd say brush up on trend trading, grab a highlighter, and go to town on a copy of 'Options As A Strategic Investment'. Imo that is the bible of Options Trading and what really makes you get options strategy.

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  #37 (permalink)
Trading for Profit
Pittsburgh, Pennsylvania
 
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josh View Post
It's truly laughable that you're calling a 30-yr options trader a "hack."

I appreciate the personal attacks, but let's keep it on topic. Did he make his millions by trading options? He did not. Is his option trading record on TT profitable? It is not.

So what does 30 years of option trading experience gave him? That he knows the lingo and able to talk about options in an entertaining way? I still stand by my earlier post, he is going to teach you how to drive a race car, just not how to win the actual race.

I mean if some of you find the show worthwhile to listen to, do it by all means. Just don't bring up his millions as evidence of his expertise. But I agree, he is an excellent business man, he has just raised 25 million from a venture capital firm for popularizing options.


Last edited by Pedro40; September 1st, 2014 at 05:44 AM.
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  #38 (permalink)
Market Wizard
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Tom is like one of those owners on Kitchen Nightmares who also thinks he himself is a chef and insists on running the kitchen. He loves to cook but he's lousy at it.

Tom should hire a talented anchor (a Tim Sykes?) and then confine himself to the stuff he's good at.

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  #39 (permalink)
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suko View Post
I don't know nothin' bout options but I am intellectually curious.

Tom's show on "Statistics vs Probability" blew the top off my head.

@suko thanks for sharing that. I've never thought of it how they present it but it's definitely eye opening.

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  #40 (permalink)
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empty View Post
@suko thanks for sharing that. I've never thought of it how they present it but it's definitely eye opening.

I always benefit from the stuff the TT research team comes out with.

One of my goals for 2015 is to make a long march through the WDIS (options newbie learning) archive with Tony and Katie. I watched a number of the Tom and Case WDIS shows. Both of these series are highly educational.

https://www.tastytrade.com/tt/shows/wdis-back-to-cool/episodes/check-out-our-new...-09-16-2013?locale=en-US

I also completed the options trading certificate program through dough.com. This program is a combination of video lectures, WDIS episodes, and hands-on interactive tutorials, followed up by quizzes. I have not seen a more innovative online learning environment for trading.

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