09
Jan
Life of a Tastytrade Follower
We received this message from a long-time Tastytrade follower, and the user wished to share the email with the public.

Good evening,

I'm reaching out to you in hopes of further educating myself on a long term and sustainable options trading plan.  I've been trading primarily iron condors and various spreads over the past few years, and like you mention in your videos, it is just a matter of time before you get bitten on a large move.  Like yourself I've listened to hundreds of hours of TastyTrade trying to hone my skills.  I've learned a so much from them, but I find that I don't have the time to trade often and small while keeping track of so many trades.  Secondly, I don't see the profit working in my favor in the long run.  Years ago I used to trade 4-5 iron condors a month about 10-15k per trade using various etfs.   That worked great until I had to roll three times and I lost about 80 grand.  I tried to look at the loss as a hard lesson learned and keep pressing on.  Trading 100-1000's of trades trying to beta weight my portfolio is just impossible time wise for me.

After doing some research online, primary looking at reviews showing why TT doesn't work long term, I came across your series of videos.  I've watched and read pretty much everything I can get my hands on associated with your team and I like what I see.

From what I can tell, your team mostly places Broken Wing Butterflies, but uses your proprietary software to time the entry perfectly based on Vega and Vomma.  Honestly, I never really took these higher greeks into account when placing trades other than shooting for high IV at entry.  Everything you say in your videos make sense and I'm highly intrigued.

After losing so much I'm attempting to dig myself out of a hole, but seems impossible trading $200-300 bucks at a time.  I'm only playing around with a few thousand now, but I hope to get back to where I once was after I find the confidence in a successful trading plan.  Your website said you're now focusing on teaching firms rather than individual traders.  I'm worried I have learned about you too late.  At this point are you still offering your methods and software to the small time guy?

Anything would be greatly appreciated and I look forward to hearing back.

recent posts

Karen The Supertrader and James Cordier

Are You Picking Up Pennies IN FRONT OF FREIGHT TRAINS? Today’s topic is “Picking up pennies in front of freight trains.” Most option traders are guilty of doing this at some point, especially traders new to options.” Experienced traders usually stop after they get ran over or after they understand the risk involved. Most of […]

Bearish Options Strategies

  AN AWESOME APPROACH TO BEARISH MARKETS We do not see bearish markets too often, but when we do, we have to be fully prepared to: Protect our capital. Profit from market declines. More often than not, traders are not ready for bearish markets, so when they suddenly appear, they experience irreversible damages to their […]

icon
icon

tags

atm, bearish options strategies, Best Options Course, butterfly spread, calendar spread, call credit spreads, charm, credit spread, credit spread back test, credit spread options, credit spread strategy, credit spreads, day traders, defective imac, delta, full time options trading, gamma, greeks, high order greeks, imac, imac problems, implied volatility, iron condor, iv rank, james cordier, karen the supertrader, learn options, learning options course, leverage, low risk options trading, mirage, option strategy, option trading, option trading checklist, option trading lifestyle, option trading mindset, option trading myths, option trading profits, optioncolors, optioncolors software, options analysis, options course, options learning course, options strategies, options trader, options trading, options trading course, options trading newsletter, options trading performance, options trading software, otm, pop, popular option trades, portfolio margin, portfolio margin trading, probabilities, probability of profit, profitable, review, San Jose Options, san jose options review, scalable, short strangles, sj options review, spread, spreads, strangle, strategies, tasty trade, tasty trade credit spread, tasty trade credit spreads, tasty trade iv rank, tasty trade ivr, tastytrade, tastytrade credit spreads, tastytrade strangles, tastytrade verticals, technical, testimonial, theta, time decay, trading volatility, training, unbalanced condor, vanna, vega, veta, vomma, weekly credit spreads