TastyWorks SCAM? [BEST REVIEW w/ FREE Gift] - YouTube

Tastyworks and this tastyworks review I'm going to show you how to earn

one free week of real-time trade alerts TastyWorks is used by around 20% or 30%

of my students and a lot of them like it I like it primarily because it allows

people to easily get approved for naked option selling and also it's a good

value it's pretty cheap they charge only one dollar per contract plus exchange

fees and I think they cap it at $10 per leg so if you sell a credit spread or

you sell an iron Condor which is not something that I like but the maximum

amount that you will pay is $40 which is actually a lot but and that's actually

going to be one of my criticisms but for a small small number of contracts you

really can't beat it especially considering that it's only $1

per contract plus exchange fees which work out to around 13 cents per contract

and then on the when you close out the trade it's free so for example if you

trade five contracts it's going to be about five dollars and 65 cents to sell

those contracts and then when you buy them back it's going to be free plus an

incremental 13 cents per contract and exchange fees so you're looking at about

what's that six dollars and 30 cents which is a great deal if you're selling

a small number of contracts in general I would recommend tastyworks for anyone

that has under thirty thousand dollars all right there are a few things I

definitely like the fact that it's very easy for you to get approved for naked

contracts and naked option selling as many of you know and I know that this is

extremely controversial I am NOT a fan of selling spreads primarily because the

only way that you get paid is by selling premium and collecting premium and when

you sell spreads you're inherently limiting the amount of premium that you

collect additionally the commission charges are

higher on spreads when you trade spreads it encourages you to trade more

contracts I've seen situations where people can trade three naked contracts

but they end up selling thirty spreads and then if the market has a bad week

then they end up getting in trouble and having to close that out at a large loss

additionally it's very difficult to manage and roll positions and improve

your basis because if you're selling puts are always gonna have to roll

forward that lower price put it's going to act on an anchor so instead of being

able to reduce your size or reduce the strike price you're gonna have to parlay

that money into buying a overpriced option but in any case the the fact is

that I highly recommend Tastyworks I do not recommend Robinhood I would bet and

this is my opinion I would my opinion is that like 70 to

80% of the people who use Robin Hood lose money and the reason is that I

believe Robin Hood encourages people to establish bad habits like buying options

tasty works is not like that it encourages you to sell option premium so

if you have anywhere from under 30 to 50 thousand dollars then tasty works is

fantastic plus it allows you to sell naked options so you get approved for a

level 3 or or level 4 additionally if you use my promo code where and I'm

going to show you the sign-up link you will receive one free week of trade

alerts I believe that I offer the best trade alerts available and you can enter

in the code right here on your signup screen and I'll give you that code in

the comment and also in the description so a few things I do believe that this

is the best review for tastyworks because it's going to be very

comprehensive for international students I usually recommend Interactive Brokers

however tastyworks is also available in 60 countries the only major countries

well I shouldn't say that but some major countries that it's not available in

include Canada and Australia but I know it's available in New Zealand Colombia

a large part of the European Union so for international accounts I would

highly recommend Tastyworks or if tasty works is not available then you can try

Interactive Brokers as I said the commission charges are very inexpensive

it's only $1 per contract with a maximum of $10 per leg ok a few things that I

don't like about it I don't like the I you I don't like the user interface

unless I feel one of the main reasons why I don't use it it's just incredibly

slow for me to enter Trey's I'm gonna get into that in the future if you're

starting a new account you should go to this link and I'm going to include it in

the comments and also in the description this is my code right here the seven r6q

8p k FN c you can enter that in you enter that here or you can also enter it

when you sign up or you can click this link and it will automatically populate

that referral code and if you sign up for Tastyworks using the referral link

i'll provide you with a free week of my real-time trade alerts additionally if

you have an existing account and i have referred you then you can simply enter

it here this is the link that managed Tastyworks at the bottom will say to

someone refer you then you can enter the seven r6q HP k FN c and then you'll earn

one free week of trade review of trade alerts so i want to go into why i don't

like it some of the because i just want to be non biased so i want to tell you

the main reason why I don't use it is it's just super slow and annoying to

enter in position so let's say we want to sell let's say we want to sell spread

right so I want to go here and enter in so this much must be like existing

positions let's say so Facebook right now is at 164 so let's say realistically

I'm going to sell like a 165 or a rather one I'm gonna sell like a 150 and then

I'm gonna sell like a 140 it's just super slow for me to enter this trade

and then if I want to choose how many contracts I want to sell I have to do

this then if I have to choose the price then I choose the expiration all right

March 15th considering that today is the 27th that's fine then GTC I just I have

to tap it way too much I use II trade I use the power e Trade

and I can make a trade in like literally five or ten seconds here in order for me

to enter in trades it's extremely slow and I this is just

this is just an account that I funded I don't really use it although actually I

have traded a little bit with it so if you see yeah I just funded this mostly

because I wanted to sign up as an affiliate I'll place an occasional trade

let's see how I've done actually oh so I've done pretty well actually I'm up

two thousand one hundred and forty five dollars so I'm up around thirty three

percent this year that that that's a lot I definitely don't expect to be up that

much for the remainder of the year but I mean that is that's pretty good returns

I think actually for me the reason why is I'll only make an occasional tray

down here for my trade alerts I'll send out trades that I believe are like be B

plus a minus a and a plus and for the tastytrade account

I'll only trade this account if it's an a-minus and a or an A plus so as a

result there's a much higher probability that there aren't going to be any issues

with those trades and that they're gonna be highly profitable and the results

show that where I'm up around a little less than thirty three percent so around

thirty percent so far in about a month and a half and around two months

actually but any case back to the tasty works review so I don't like how it's

slow and entering orders let me use something I don't have a position on so

let's say Amazon so let's say I feel like I'm gonna sell a fifteen hundred

put on Amazon so I go here Amazon then I choose the strategy I'm gonna sell let's

say make it put well actually you would most likely and actually myself too

sometimes I treat spreads on Amazon because it's just an expensive stock so

let's say I want to trade so it gives me like an at the money then I have to go

choose the fifteen hundred so I have to tap this button like a lot then I have

to choose a strike price I think that's okay then I have to choose it

automatically sets the mid price I always set this to GTC go to cancel then

I'll review it actually I don't have well so it's a lot so I have to trade

this as a spread so put spread so here then it's the same thing I have to tap

this they have to go tap this multiple times to get a 1500

then I always end up over tapping it then this is too narrow of a spread so

then I have to unselect that then the put that I buy let's say fourteen eighty

okay that's fine then I'll collect a dollar ninety and choose this again gets

a cancel and then this this way the buy power is reduced by four thousand this

is ensuring that I would mate I definitely will not accept one hundred

ninety dollars to have my buying power were reduced by four thousand bucks but

this is just for example purposes this tray that I just told you it was just

extremely laborious for me to enter it and that's the main reason why I don't

use Tastyworks however I have a very large account and if I had an account that was

around and he if I had an account that was below a hundred and fifty thousand

dollars I would 100% you Tastyworks mostly because the Commission's are

fantastic and it does provide I guess mostly because of the Commission's

that's the main thing the two things I guess another thing is that it's very

easy to get accepted and approved for selling naked options so if I had an

account I was under 150 thousand dollars I would 100% always use Tastyworks because

it's very easy to get approved for Naked options and additionally the

Commission's are fantastic but I still have an account Tastyworks I just funded

it with like a like a small amount but all right let me see the commissioners

cuz I'm not sure if they capita ten to ten dollars maximum per trade or ten

dollars per leg I think it's per leg this isn't it's not gonna allow me to

make this trade anyway because I'm I'm not gonna have the buying power but let

me see if it just tells me what my what my Commission's would be ok good to

cancel my credit close this review and send yeah so here the Commission's is

its twenty dollars plus four dollars and twenty five cents in exchange for you so

that's definitely something that you need to take into account because the

exchange fees are extra for etrade they include the exchange fees but for Tasty

works a dozen you pay about thirteen cents per contract that you sell

exchange fees so here thirty actually more than that because here there thirty

contracts so three ninety so around fourteen cents per per contract in

exchange fees that's actually more than I pay for just an I pay eight dollars

and fifty cents per trade plus ten cents a contract all in now also remember I

don't get free closing trades but in this situation for selling 30 contracts

it will charge me twenty four dollars on the plus side I don't have to I don't

have to pay anything in order to buy back those shares so if you split that

in half so figure you're gonna pay around twenty four dollars plus the

incremental four dollars and twenty five cents is twenty eight fifty / - that's

$14.25 the other thing that I don't like about Tastyworks besides the horrible

UI or the fact that it's just so slow is it actually doesn't pay you anything on

your cash balance so when you have more than one hundred and fifty thousand

dollars and I use II trade you can actually use a cash sweep and you can

earn around one and a half to two percent on that annually and one and a

half or two percent a year on on two hundred thousand dollars is equivalent

to four thousand dollars that's a lot of money that you're just giving up and

they're I don't believe that there is any cash sweep option so I don't think

that Tastyworks is necessarily like I don't think that they're like being

secretive or clandestine about telling you that it's only a dollar per contract

when in reality they're charging you a dollar plus thirteen or fourteen cents

in exchange fees and they're also not paying you any money on your cash

balance but that is something that you should be aware of and that's one of the

main reasons why I use each rate the reasons I use each rate is because with

a large account it makes sense for me to earn 2% annually on my cash and

additionally this trade that I'm just that I'm showing you right here I can

make this trade etrade and about I'd say one fifth or one-third the amount of

time that that it would take me and in Tastyworks and that's actually the main

reason why I don't use Tastyworks more often is that it's just so laborious for

me to enter in orders however all this being said if you have under $150,000

then Tastyworks by is your best option all right let me see

if I covered under some everything so remember that Tastyworks doesn't pay any

cash it doesn't pay any interest in your cash balance I'm not a fan of the UI it

charges you around thirteen or fourteen cents per contract extra in exchange

fees I want to include my affiliate link the affiliate link will provide you with

one free week of trade alerts so you'll get one free week of trade alerts by

using the affiliate link the trade alerts are absolutely fantastic here's

an example oops so the alerts there's something

like this you have like an explanation where UNH we sold amazon new opening

trade so we received around nine hundred and seventy dollars there we sold puts

in UNH new opening trade we filled and closed out an order from McDonald's so

these are the trade alerts and then going back so you'll receive one free

week of trade alerts as long as you sign up and the way that I'll track it is I

have tasty work send me a list of all the people who have signed up using my

affiliate code and I have their names and then you would enter that code and

then you would email me and then once your name shows up as redeemable then

you will receive the one free week of trade alerts so simply by entering my

referral code you will receive one free week of real-time trade alerts and my

trade alerts are in my opinion the absolute best product available nothing

else even comes close regarding real-time trailers because I believe

many of the other fake gurus they they're just marketers and they don't

trade at all and they self-report their trades or they're using some BS system

where they just in my opinion they just don't even trade themselves anyway back

to this review let me just summarize I also want to say that if you have under

a hundred and fifty thousand or two hundred thousand dollars it's a

no-brainer that you should use Tasty works if you have you know if you do

have over one hundred fifty thousand dollars and you

Google best signup bonuses and you should be able to get around a 3 or $400

signup bonus with around 60 days of free trades from like an e trade or TD

Ameritrade or one of the other brokers but definitely if you have under

$100,000 you should sign up for tasty works additionally if you have over

$100,000 and you should ask for portfolio margin and if you have under a

hundred or 150 thousand potentially even under two hundred thousand I would

highly recommend that you sign up for tasty works and you use it and then you

can sign up by entering the referral code which I'm going to paste in the

comment below and also in the description that way you will receive

one free week of trade alerts all you have to do is just email me and tell me

what your name is and then once the the credit and the referral shows up as

redeemable then I will add you to the one free week of trade alerts so looking

over my notes this has been a tasty Works review if you enter the affiliate

code you'll receive one free week of real-time trade alerts I like tasty

works because it provides you an easy way to gain access and approval for

naked option selling also it's available internationally though it's not

available in Canada or Australia it's also very inexpensive it's $1 per

contract a maximum of 10 dollars per leg so if you sell an iron condor and you're

selling 40 contracts total it's gonna cost you $40 plus the commission fees

which are around 14 cents per 14 cents per contract so you know it's gonna

that's gonna add up but you'll figure you have 13 cents per contract 14 cents

per contract and exchange fees I don't like the UI also if you have a larger

balance it doesn't make sense for you to use Tastyworks because and again this

is my opinion I'm not a hundred percent certain about this but I've looked for

the option on being able to enable a cash sweep where they pay interest and I

don't believe that they pay you any interest so they're pocketing the

difference and the spread and that's one of the reasons why they're able to keep

their the rates low and I think Robin who does the same thing but remember

that if they're earning 2% risk free then essential

what they're doing is it's in their best interest to just aggregate as much money

as possible because they're earning 2% so if they have I don't know let's say

they have two billion dollars in assets under management then they're

automatically earning about 40 million dollars in 40 million dollars in annual

revenue now obviously that has to be taxed but at the same rate I mean that's

pretty damn good that will cover a lot of your overhead a lot of your R&D and a

lot of your expenses so if you have over a hundred thousand hundred fifty

thousand dollars and you definitely want to enroll in a broker that's gonna pay

you money via the cash sweep and pay you at least one and a half percent you can

use my affiliate link and if you have over two hundred thousand dollars and I

wouldn't recommend using Tastyworks but if you get comfortable using the UI and

you like it and that's fine but I just highly recommend Tastyworks to me it's

much better than Robin Hood and I think around twenty or thirty percent of my

students use taystee work so I wanted to sign up for their affiliate program

because I always had like a dummy account and I've been using just messing

around with it because I think it's my obligation to give you unbiased reviews

based upon my own experience so I have been training with it but I just

recently signed up for their affiliate program or just started using their

affiliate program like a few days ago and if you sign up then you will get one

free week of alerts so this is David Jaffe with bus stop strategy comm you

can go to best dock strategy comment enter in your email address to receive

over $400 worth of free valuable training please like comment share and

subscribe you can also click the little bell to receive notification so when I

create and upload a new video and additionally I respond to everyone's

comments so if you have any questions you can leave a comment below and I will

try to get back to you in a very expeditious manner and I appreciate your

attention