Trading isn't easy, and Tom and Tony don't sugarcoat that fact. However, they are here to walk through some mistakes that many new traders make and how to avoid.
They focus on 5 main things to avoid:
Not Using Probabilities: We use probablities as our bread and butter, ignoring these rules can be harmful to new traders
Trading Illiquid Underlyings: Getting in and out of trades is much harder with illiquid stocks. Additionally, traders may not be filled at the price they want.
Legging In and Out of Trades: When trying to place positions with multiple options, we avoid executing one option at a time to make sure we end up with the position we wanted.
Misunderstanding Sizing: Understanding trade size is crucial to successful trading, getting too big too quickly is a fast way to end a trading career!
Buying Out-Of-The-Money Options: Circling back to probabilities, these are low probability trades. tastytrade Research has shown time and again that these strategies rarely work.
Tune in to hear the industry veterans, Tom and Tony, run through their take on these potential Newbie mistakes.