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TastyTrade.com

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https://www.tastytra..
Category: Websites

New financial network from creators of thinkorswim threatens to make finance fun. Wall Street squawk meets improv talk, live, 7am CT - rebroadcast 24/7.

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Excellent studies but weak dough traders
I have been following Tastytrade and the associated dough trading platform for more than one year. My comments:

Positive:

Free educational channel with a lot of valuable back-tested strategies. The studies are really interesting and well explained. They really helped me to improve my trading. Summary slides of the studies can even be downloaded for free. The

The trade recommendations on trade.dough.com are for free as well!

To be improved:

The traders from Tastytrade (trade.dough.com) must be considered with care. Quite annoying is the fact that many traders do not follow the rules which are explained on the tastytrade channel. For example some tastytrade studies show clearly that naked puts on volatility instruments (VXX, UVXY) are not profitable. On the same day the one or the other trader is selling Puts on the UVXY (trader Fauzia for example). And indeed the trade usually goes wrong. This is simply not logical. Studies also show some good defense mechanisms, which are rarely used by the traders.

The "good" traders are (from my experience):

Robyn: she explains her trades very well and is quite successful

Mike und Jim

The traders to be avoided:

Fauzia: a lot of losing tradings with very big losses.

Kristy: does not follow the defense rules.

Tony MX: a "kamikaze" trader. Reading his comments gives the impression the guy is on drugs. His trades are like casino bets and often far away from the tastytrade philosophy. That's also the reason why Tony is describing his trades as "don't tell Tom" trades. He also tries to be funny but seems to forget that trading is not a game or a joke but a very serious work. For me Tony MX is spoiling the professionalism Tom Sosnoff wants to convey through his channel.

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Outstanding. A real money maker.
After getting burned by many websites claiming they are the "Holy Grail," I found Tastytrade, where they make no claims but do offer sound advice and trades. After a few months I have come to understand that what is best for me is to stick to ETFs (SPY, IWM, QQQ, etc) and trade Iron Condors. This "system" does not require me to be at my computer all day and I can actually live a normal life. I am retired from the 9 to 5 grind. A question to Tastytrade always gets answered and promptly. In several months with these good people, I have never been asked to buy anything outside of my $99 annual fee. How refreshing! I strongly recommend Tastytrade for new folks wishing to learn options although I would listen, watch and paper trade for several months. I found it perfect for someone with limited experience and knowledge looking for some honest help.

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Good Education and Entertainment. Just don't follow.
Education: They have tons of good, sometimes excellent materials, videos, presentations, if you are into options or futures trading, there is no better value out there today, they give you all this for free (you don't have to actually have a TD Ameritrade account, even though of course they'll promote it). They'll respond to your emails almost immediately, Tony himself (really have never emailed Tom).

Entertainment: My 5 stars as well, you can tune in early in the morning and stay tuned for the rest of the day. I think it changes a trader's usually lonely world.

Tom's trades come in 2 different accounts, Tom's IRA and Tom, are not free. Tom's IRA posts about 2-3 options trades a day, the service is around $10/month. Tom's account posts way more than that, at least 20 trades a day and costs $99/month. You can trade Tom's IRA with a $100k account, but your return really won't be much more than 10-15% top (just buy and hold instead). But you cannot and I can't stress this enough, you cannot follow Tom's account with only $100k in your account, you'll be in trouble more sooner than later. So I think, they really don't ask you to pay for the service, but if they offer it, they should pay more attention to this detail, you can easily lose the account if you follow blindly. Also yes there are lots of trades per day in this account, however too many of them, sometimes most of them are hedge trades, meaning the original opening trade was maybe one year ago and you can't even see it because the history doesn't go that far back. Following those are not a good idea because you don't know what happened to the opening trade in the first place, then also almost impossible and impractical because there are so many. So in reality if you discount this, there are not that many new trades. If you plan to follow futures trades, then make sure you have at least $200k in your account, and make sure you keep your phone next to you at all times, even while sleeping.

A major, huge drawback is they post the trades but won't post P&L. Sure you can try to see the history of the trade but it gets tricky here, almost weird. In the website you can easily filter by security but the futures trades prices for example don't show correctly, Japanese yen for example, it will only show 0.0095 not 0.009541. If you trade these you'll know how important even that last 0.000001 is. So you have to use your app. But then the phone app does show correctly 0.009541, however there you cannot filter by security so you can't see the history. In other words, really no way to back test here, just good luck.

I truly see no value in following Tom's trades, really don't see a reason in paying for something that more than likely I won't be able to do, I don't think anyone can. I understand they are not meant to be followed, but then why charge for it? Why talk about these trades that only if you pay for them you can see? I think that if they are going to charge, they should pay more attention to what they do and how they do it.

In my opinion, just watch what the rest of the traders do, you don't need to pay for those, watch the materials, learn, come up with your plan and do it, never follow them blindly.

But again, overall, good stuff. Tom is a trader, Tony is a trader, Pete really knows about futures. Excellent education and entertainment, only remember my advice: don't follow.

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Actually has meat for being free.
There are not many educational sites that are giving out good or even free content. I do not agree with everything or every way that Tom and Tony trade, but as a whole I think they are doing the trading world a big service. They are getting people interested in trading and trying to demystify the world of Options!

Good Job!

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Free program
Pros:

Free

explains option's strategies

takes questions

variety

Cons:

Not all trades are practical nor profitable so be careful

Overall there is what to be gained by viewing them so I give it 4 stars.

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Elliot2000 Chicago, IL

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Take it with a grain of salt
Overall I really like TastyTrade for the education they provide but be careful, building a trading career requires much more work than what Tom Sosnoff and his team wants you to believe. I know that times have changed and techology has evolved to a point where things are much easier now however, one cannot dismiss the fact that there's a lot of intuition involved in trading. This intuition can only be acquired through countless hours of screening. Trading is a craft, and one of the hardest ones out there one could argue. I think there's a lot of shared interest in regards to the things they teach at Tastytrade and their involvement with TD Ameritrade. For example, their moto, trade small trade often, benefits TD Ameritrade. They in turn support and finance Tastytrade. Plus, Tom Sosnoff having sold Thinkorswim to TD Ameritrade a few years ago now holds a certain % of TD Ameritrade. As little as that might be, this benefits him over the longer term.

I do not take for granted every single backtesting studies that they present on the show because statistics can be biased. You know what they say, numbers are fragile beings, if you torture them enough they end up telling you whatever you want to hear. I find Tom's dogmatism in regards to the non brownian nature of the markets quite annoying. Clearly, the studies they show supports their specific selling strategies. However, a lot of studies have been done by great directional traders out there and their results also supports their specific directional trend trading strategies. I guess what I mean to say is that you can skin a cat in many ways. Absolutism in trading is costly over the long term. Flexibility is what pays.

I tried to stay fair in my rating because I still think there is value in their education. Just dont buy everything they say because again, their interests are shared. In the end, home work always pays.

It takes time to become a trader. It has always been the case. It works the same way for any highly competitive endeavor out there and it's not now that it's going to change.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Yvan2505 nanaimo, bc

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Love The Interviews
I love their interviews, they turned me onto option trading. Also have to thank them for creating thinkorswim!

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ToddP Pensacola, Fl

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free trading station
this is a free trading station that's on during market hours. they have a few shows mostly about stocks, options, futures. they don't really trade the markets live but they review the markets.

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Great and knowledgeable mentors.
I started watching their shows over the past few months and have learned a lot. Practical knowledge to make consistent money. Talk about probability, duration, etc.

Yes, some terms and strategies go over my head but they're accessible. I've emailed both Tom and Tony and they reply back to each of my emails. All within a few hours up to a day.

I like that you can access the RT and archived shows anytime.

They are funny, knowledgeable, successful traders. A great source of vast trading knowledge.

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Krash Chicago, IL

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Tastytrade is Da Bomb in Da Bears Land
I first tuned in to TT about a year and a half ago and my first thought was, "what the heck is this" and "who are these guys". The host wears a beret and the Italian sidekick is off to the side. It reminded me of Howard Sterns show, even had Robin as Vonetta. I quickly closed the window on my browser after 3 minutes of viewing - what a mistake that was!

I came back again at the start of this year and this time did not close the browser window and have had it open ever since. I never understood options, and this show has me understanding options, not all of it, Tom and Tony can still go way over my head. Segments like "Where Do I Start" and LIZ and JNY Show" are great to start for newbie to options people like me.

The programming is well done, with over 7 hours of programming per day, and you will quickly become a fan of the interaction between Tom and Tony. These are former floor traders who have been together "way too long". The comedy commercials are wonderfully funny, Jim Blamer, Bernake, Trader Roommates to name a few. If you have not tuned in, do it, you won't be sorry.

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Trader_al Rosemount, MN

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