Just to get a bit of discussion going .... I have watched Tom Sosnoff on Tasty Trade for a while now .... great entertainment and engagement ..... but is it honestly any more than this. I am having some difficulty reconciling his 'trading mantras' with what the way in which they actually trade .... for instance 1. Trade Small, Trade Often ..... so no one trade can kill you .... yet they will often roll a trade forever until it eventually becomes profitable? 2. Manage Winners .... no idea what this really means ... yet as soon as trade is under pressure they will often manage/adjust in attempt to generate more premium ... seems like most of the effort goes into managing losers. 3. Sell premium aggressively when IV rank is high .... yet some of their Market Measure studies indicate that biggest losses from selling strangles comes when IV rank is high .... 4. Make trades with a high Probability of Profit (POP) .... - where is the edge in knowing the Probability of Profit .... it is just a way of setting expectations and then - they use 2 different platforms, TOS and Dough, which have such fundamentally different methods of calculating probability that it undermines the whole concept 5. Sell into strength / Buy into weakness .... yet the first adjustment they make to a short strangle does exactly the opposite ..... roll up the untested end .... market goes up, adjust by selling put spread, which is Buying into strength .... market goes down, adjust by selling call spread, which is selling into weakness 6. Read the tape .... yet they have been constantly and painfully short the equity markets during the bull run in 2013/14 7. Tasty Trade distinguishes itself from the rest of the financial industry by being completely Transparent ..... yet they refuse to disclose whether any of their traders ever make a profit Anyone got a view they want to chew over?
Sosnoff was a mediocre MMer. He sold a biz and walked away with 8-figs. I wouldn't trust the guy to balance a checkbook. I don't consider these moronic "always in" ICs as "trading".
One third the width IC's were last year trade ... they've moved onto Jade Lizards and Sunny Side Up trades now ...
It's the insipid "free money" attitude from these services. Guys like vix-trader and others who have no business trading vol. The rah rah bullshit is ridiculous and the guy will eventually be subject to a lawsuit regardless of the boilerplate. See what happens when the SPX is down 15-20% in a month. WTF is he doing pumping this sh*t anyway? Enjoy the money and stop pumping. Does anyone have Sosnoff's performance on sim or production accounts?