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Project: Making dough with tastytrade

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Follow me as I trade purely mechanical using a 'Plan before Product' trading style that Tom Sosnoff himself said that had he used this over his last 30 years of trading, he'd probably have 3X more money.

8 824 2015 Project @doughtrading with @ tastytrade
by hamster
Mar 28, 2015 22:04:46 GMT -8

KAREN the SUPERTRADER

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tastytrade Newbies

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The place for those who are brand new to the world of options. #TastyNation is here to help.

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GOLDEN GECKO

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thinkorswim & dough Questions

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thinkorswim & dough platform settings and questions.

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MOST APPLIABLE MARKET MEASURES

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The Most Important Market Measures You Need To Know

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IMPLIED VOLATILITY

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NAKED OPTIONS

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STRANGLES

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VERTICAL SPREADS

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IRON CONDOR

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ROLLING

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IRA & TASTYBITE ACCOUNTS

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JADE LIZZARD

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RATIO SPREADS

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Ice Tea Lounge

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A fun place to just hang out, meet fellow tastytraders, and talk about random topics.

2 14 @VonettaLogan 's "Nailed It"
by @hawaiiantrader
Oct 18, 2014 20:54:56 GMT -8

Legend

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frenchy: i don't like taking losses therefore I defend by rolling the untested side to the tested side strike if there is credit available to do so, I won't pay a debit to roll the position ever and then I immediately place an order to close for a scratch. Mar 29, 2015 18:04:00 GMT -8
frenchy: and I don't immediately roll positions if the trade goes against me quickly after I put it on, especially if I have 28 days or more left to expiration, I have plenty of time for the trade revert back to profitability, but if I only have a week or two left Mar 29, 2015 18:07:14 GMT -8
frenchy: in the trade I will definitely roll for more credit and more duration, which still sometimes doesn't work out and I still may end up with a loser, hopefully relatively small loss or scratch. Mar 29, 2015 18:09:11 GMT -8
frenchy: If I decide there isn't enough credit available for a suitable risk / reward to stay in the trade, I'll just close the trade and accept the loss and move on to a new trade. I'm not very good at chasing trades, my experience has been it's just better to Mar 29, 2015 18:12:35 GMT -8
frenchy: accept the loss and move on.......... Mar 29, 2015 18:12:42 GMT -8
frenchy: Erik says that he scratches alot in that video, but i have not found that to work that away for me due to once the trade goes against you, there just isn't enough credit available to scratch / break even and sometimes you would have to pay a debit to move Mar 29, 2015 18:15:58 GMT -8
frenchy: up and or out further in duration. Mar 29, 2015 18:16:09 GMT -8
frenchy: I'm not sure how Erik is managing his losers and obtaining a scratch / break even. Everytime you adjust your position, it's not really any sort of adjustment / correction, basically you are putting on a new trade with new risks. Your original trade is Mar 29, 2015 18:20:04 GMT -8
frenchy: still a loser..........and you are just cutting your cost basis of that losing trade by putting on a new trade by moving it's strikes up and or out for duration and only if that new trade becomes a winner. Mar 29, 2015 18:24:09 GMT -8
frenchy: what I think they are doing is just trading / adjusting there loser until they break even and calling it a scratch by placing numerous new trades. Mar 29, 2015 18:29:17 GMT -8
hamster: Frenchy, I understand the time frame part of it, but at what point do you consider rolling? Let's say there are 7 days left on a 45 day IC. You put your strikes at 97, 102 and 112, 117 (5 strikes wide). Say stock is dropping like a rock. Mar 29, 2015 22:12:18 GMT -8
icyou: Last 3 lines from frenchy best post ever Mar 30, 2015 7:28:28 GMT -8
icyou: he is correct "still a loser..........and you are just cutting your cost basis of that losing trade by putting on a new trade by moving it's strikes up and or out for duration and only if that new trade becomes a winner" Mar 30, 2015 7:29:21 GMT -8
icyou: funny the managing part is actually the grail, yet those in the interview don't share that information Mar 30, 2015 7:30:04 GMT -8
hamster: Icyou, I agree with you 100%. The funny thing about Erik is the guy was totally lost before TT pointed out IV R/%, DTE, Managing winners at 50% or before depending on how long in trade. He is now in the fast lane due to years of experience. Mar 30, 2015 19:17:10 GMT -8
frenchy: If this 23 old girl can do this, we can too.......lol...... Check out this videos when or when not to roll: Mar 31, 2015 0:52:34 GMT -8
frenchy: https://www.tastytrade.com/tt/shows/where-do-i-start-in-3-minutes-or-less/episodes/when-not-to-roll-04-21-2014?locale=en-US Mar 31, 2015 0:52:37 GMT -8
frenchy: https://www.tastytrade.com/tt/shows/where-do-i-start-in-3-minutes-or-less/episodes/when-to-roll-04-21-2014?locale=en-US Mar 31, 2015 0:52:57 GMT -8
frenchy: Defending Iron Condors = https://www.tastytrade.com/tt/shows/where-do-i-start-season-2-tom-case/episodes/defending-iron-condors-recap-08-27-2014?utm_source=social-share Mar 31, 2015 1:08:11 GMT -8
hamster: Frenchy, thanks for the video links. Katie seems like the better student to me. Compare Katie and Case ROC on Dough. No comparison between the 2 but that can change. Mar 31, 2015 4:08:01 GMT -8