vitalsign0 Posted December 21, 2018 Posted December 21, 2018 I was watching TastyTrade Live today and was shocked at the portfolio of Nick and Jim. Neither have large account at they are down a ton. Nick who is a relatively new trader is down well over $10k. I don't understand this mentality of sticking with what doesn't work no matter what. This was me at one point too, I've never had a green year using TastyTrade's "mechanics". It's a bit blurry but Nick was selling Strangles in /CL in a relatively small account. WTF? Jim: Nick: 1 Quote
Kim Posted December 22, 2018 Posted December 22, 2018 This is insane, but it doesn't surprise me. Tom Sosnoff was claiming all the time that the only way to make money in the stock market is to sell options, so he wouldn't change his way now. Options selling works most of the time - till it doesn't. And when it stops working, the losses can be devastating. Just ask Victor Niederhoffer, Karen Supertrader, James Cordier and many others. I challenged them several times with their so called "studies" that "proved" that buying premium doesn't work. But I guess they won't let the facts to confuse them. 1 Quote
Dadeeman Posted December 22, 2018 Posted December 22, 2018 (edited) They even have their own trading platform (I think) and often promote selling naked options with smaller margin (I think) than the other brokers....I was wondering what happens when one of their accounts blows up and owes more than whats in the account and the customer can't pay......I just got burned bad in a bull credit spread so Kim u r so right, my credit spreads were working... .then they stop working.....bad.... Edited December 22, 2018 by Dadeeman Quote
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