TastyTrade, a respected options trading financial network, uses what it calls a “mechanical approach,” using “the Greeks” because it believes that “nobody can predict chart direction.”
Master Trader’s approach – vastly different — is to start with a compelling chart pattern, then trade options either as a Directional (when Multiple Time Frames are in alignment) or Income Trade (when we want to get “paid” by selling options from calling a short-term top or bottom) since we are experts in reading technical analysis.
Master Trader Tip: Overlaying Master Trader Strategies (MTS) with any existing option trading approach will significantly increase your success.
This video shows you using Master Trader intra-day and gap analysis would have prevented you from putting on tastytrade’s Short Call Vertical Spread on QQQ which, if entered when recommended, you are holding unrealized losses since the QQQ advanced over $4 in one day after the open.
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Can Technical Analysis Really Predict Price Action? Click HERE
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Review of TastyTrade Option Trading Approach Click HERE
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In the Master Trader Green Room, we trade stocks, options, and ETFs in real-time.
Learn how we scan pre-market compelling Gap Trades and discuss a “plan of attack” to profit.
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Happy trading! If you have any questions or comments, please e-mail Greg Capra at Greg@mastertrader.com or Dan Gibby at Dan@mastertrader.com
All the best,
Dan Gibby
Chief Options Strategist
Greg Capra
Managing Director of Master Trader
Trading the Pristine Method — Origin and End
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Twitter: @GregCapra
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