I love the tastytrade Market Measure show, never miss it. The other shows I watch when I can. There's a lot of good stuff there, incredibly all for free. Tastytrade took my options learning curve parabolic.
I've tried Bob The Trader, it's pretty much like the app preview only with the actual trades. It's alright if you want to see exactly what trades Tom Sosnoff puts on, they are real time. I subscribed to see the trades and how he applies what they teach about options to actual trades. I work full time so can't be watching the show all day, only at night and miss the trades they do during the day. He puts on a lot of option trades, but most of the trades seem to be index futures trades.
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I have the app downloaded but its $99 for a 30 day subscription so I haven't done it yet. I have follow quite bit of Sosnoff's trades over the years and a lot his trades are low risk type trades like debit spreads. He's got 3 decades of trading experience and he's always preaching about delta risk, position sizing, probabilities, volatility. He's not into TA and just a different mindset more of a finance background than a computer programmer TA trader.
Last edited by blb014; November 7th, 2013 at 12:03 AM.
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I tried BOB the trader for a couple of months. I entered most of his option trades. He also trades a lot of futures but I didn't take those. Tom is a contrarian trader, selling perceived tops and buying perceived bottoms. That was a little against my style as I prefer to go with the trend. Anyway, I ended up losing money in the options trades over the 2 months. Not a lot and I did learn how he adjusts trades etc. But the style didn't suit me. But I love the tastytrade site. There is a lot of good free stuff there.
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I would agree their track record and trade calls aren't really marginally profitable. They seemed to have
always fallen back on "50/50" as they don't promote any claimed edge. What they claim helps is learning
to do options very "effectively".
So yes, still a good show to learn how to do options and follow along and practice their trades in sim.
Maybe the best free education out there by media now. But one would be better off finding their
own portfolio of symbols to trade and using their own "edge" method, and then use the option techniques
like picking a particular tool setting.
I should follow up to what I posted earlier on this thread that following sim, I wasn't making "sim" net profit either.
One of their sometimes-hosts "Tom Preston" claimed 20% gain last year on his own personal trading while Jenny
claimed less. (i.e. expect "typical" disappointing 'mutual fund' results) Even if they had an working "edge" directional
method I suspect it still wouldn't be shared publicly on their shows.
Still a lot of great free instruction and follow-along and teaching on the TOS platform. Learning to set
up this kind or that kind of credit spread, or a more conservative spread, or a call based on lower vol, or something
else based on higher vol etc, i.e. the option context environment.
Last edited by Cloudy; June 27th, 2014 at 02:33 AM.
When I started trading since mid 2009, I've paid my dues by signing up a few advisory services which I thought can help me become a better trader. The next 3.5 years has made me realized the followings:
1. There is no holy grail in trading & most who claimed to have a very profitable system usually means it is too good to be true. Run away from them.
2. There are many workable systems out there. Unfortunately, it may not be suitable or fit your style of trading.
Eg, I did not follow all the recommended trades that was advised by the services, either it is too much to commit or the trades do not fit my style of trading.
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.
4. In 2014, I've moved to trading options after watching & learning quite a lot from TastyTrade. Depending on your style & preference of trading, there are many option strategies to choose from. For me, majority of my option trades are short strangle, focusing on selling premiums during high IV environment. I also do binary event during earnings.
As I've mentioned above, there is no holy grail in trading. I think one has to find what suits your trading style. It is important to trade according to one's plan because a well followed trading plan on a system with positive expectancy will result in a profitable outcome.
I'm not concluding that both the systems mentioned above will suit everyone, or the systems have no flaws.
So far, I am able to trade the systems because they suit my style of trading.
Just remember again there is no holy grail. Learn enough to know what risk you are having when you put on a trade, whether it be stocks/ETFs or options.
I hope the sharing of my experience help fellow traders out there. I've been through the frustrated route of learning to trade, not to mention the costs incurred. I hope you will not waste unnecessary money like I did.
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Broker/Data: Multiple broker + Multiple feed (for access to specific exchanges)
Favorite Futures: European Indices, Precious Metals, Energy
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The guy definitely knows his stuff, but that knowledge isn't accessible unless you already know a lot about options. E.g., not for beginners. The topics/conversations are definitely interesting insights for existing participants in this field.
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It's possible to learn to trade options.
Learn about options trading via TastyTrade is one way.
There are many hours of recording in archive which you can watch & learn, though I have to acknowledge the hours is quite a long one. For beginners, you might want to start off looking at Where Do I Start?
I will also suggest that you pick up books from the library about options trading to learn some basic terminology and definitions to complement it.
Understand what's the risk involved in options trading. It looks scarier especially for stock traders (I used to be one of them too).
In reality, trading both instruments involved risks. Just learn to know what those risks are & what returns are expected to take those risks.
Take note that TastyTrade's main theme is about selling options & not so much about buying options.
It's also about being active in managing winners, and sell premiums in high IV environment.
To manage the risk, the key is to trade small & have high occurrences.
As shorting calls/puts options has high risk, staying small gives you the means to manage the position when it goes against you.
Personally, I don't think options trading is suitable for everyone.
Learn enough from books & TastyTrade to see if it is your cup of tea.