Do you spend a considerable amount of time investing or trading after you retired? (60+, pension)

[rjm1cc]

I have some tools that would let me trade frequently but I do not think I would do better than my buy and hold. Am retired and may get around to being a little more active but I think this would be more along the line of a hobby and I would hope for a small profit. Don't think I could support part of my retirement budget by trading.

[BigCityDreamer]

Originally Posted by harleym

I have been trading equity options for a few years as a retirement "occupation", spending a few hours most days. Following TastyTrade.com (from the creator of Think or Swim) has been a great boost to success.

Mutual funds have become largely archaic with the emergence of Exchange Traded Funds (ETF) with real-time trading throughout the day, lower management expenses and tax efficiency. The widespread availability of options on ETFs just adds income opportunities to these advantages.

TDA's acquisition of Think or Swim has not hurt TOS' advantages as the most advanced platform for probability based options trading.

I currently invest most of my money in ETFs. I also use Think or Swim for doing some paper trading with other kinds of investments.

What advantages have you gained by following TastyTrade.com? Do their options strategies work well? I watched a few of their videos on youtube a few months ago and thought they were interesting.

[PNW-type-gal]

Not day trading, per se, but yes, I actively manage investments, including trading options (generally calls and spreads).

[harleym]

Originally Posted by BigCityDreamer

I currently invest most of my money in ETFs. I also use Think or Swim for doing some paper trading with other kinds of investments.

What advantages have you gained by following TastyTrade.com? Do their options strategies work well? I watched a few of their videos on youtube a few months ago and thought they were interesting.

While options strategies are certainly a key component, the overall approach and mind set are the most valuable aspects of TastyTrade. To summarize just a few:

Trade small, Trade often (risk is controlled at order entry)
Manage Winners rather than focus on adjusting losers
Return on Capital and Probability of Profit are critical concepts in selecting positions and strategies
Implied Volatility Rank (percentile) is a key indicator in choosing positions

Their ongoing research (Market Measures segments) validate and illustrate these ideas clearly.

There are shows and segments for all experience levels, from the newest trader to an experienced futures trader. They are just rolling out a trading front-end to TOS called Dough, which is very visual. What's most unbelievable, all of this is available free!

[fumbling]

The more you trade the more you lose ... if you realize it's for entertainment and not making money that's fine.

[harleym]

Fumbling,

Your statement is true for essentially random trades (i.e., 50% probability of profit) due to frictional losses of the Bid/Ask spread and commissions. However, high probability trades have a positive return when placed and managed properly (this is not a guarantee of success). You need to understand concepts like Implied Volatility, reversion to the mean and Probability of a Touch to grasp how this all works. It may seem daunting, but it isn't, and it is entertaining.

[TuborgP]

Me wonders if there is a Tasty Trade rep in the mix.

[harleym]

TastyTrade doesn't have reps. and does not charge for watching or using their software. The creator of Think or Swim created TastyTrade (Tom Sosnoff) and made sufficient money (100's of millions) to pursue this as a mission or "labor of love". It may seem hard to believe, but feel free to check it out on your own.

[harpoonalt]

I actively traded during the dot.com era. turned 2 grand into 16 in 4 months and thought I was going to be a muliti-milionaire. Then the bubble burst and 16 turned into 10 overnight. So I cashed out and bought a motorcyle. Trading with fun money is one thing, but it turned into a big ball of stress. Trading actively is more akin to going to Vegas than Investing.
So now I follow the markets as an investor, rebalance occasionally and keep track of my well diversified portfolio. It's done well and I don't have to watch CNBC every day or minute.

[StealthRabbit]

Originally Posted by TuborgP

Me wonders if there is a Tasty Trade rep in the mix.

There is a potential that the poster you implicate may be a pawn, but...

Add me (a 'semi' novice investor) to a STRONG proponent of TOS and Red Option (their edu wing). I have not used Tasty Trade, or researched such. I can get the straight scoop tonight from many TOS regulars. I find Tom very personable and intent on educating EVERYONE (his clients or others). It was a lot of fun / value / education to participate with TOS in it's infancy. Of course Ameritrade saw some significant value... to fund Tom's next venture.

Now if Ameritrade nabs Scottrade, they will be 100% in capturing several of my favorite brokerages.

I hate calling Omaha (but it beats Arlington or Boston)

Any IBD 'users' on C-D Retirement forum? It can be yet another way to ease your investment time sink. (using a 'modified' version of their trading methods)