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 06:37 PM.
Reason: additional info
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).
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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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.
The following user says Thank You to tturner86 for this post:
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).
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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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.
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 04:44 AM.
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.
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.