Tom Sosnoff Interview - Chat With Traders Episode 087

Many of you are probably familiar with our guest this week, Tom Sosnoff. At this point, he’s practically a household name in the financial industry. In case you aren’t yet familiar…

Tom spent 20 years as a floor trader at the CBOE, moving on from there to co-found the extremely popular online brokerage, thinkorswim. TD Ameritrade eventually picked up thinkorswim for roughly $606 million in 2009, giving Tom the chance to leave the company to start tastytrade, a financial news show.

Plenty of topics are covered in this episode, including; Tom’s extensive trading career, lots of options talk, the problem with being too risk adverse in both the markets and in life, the value in challenging ourselves intellectually, and tons more.

What’s Covered in This Interview:

The reason Tom believes too many people are too risk adverse, the issue with traders that don’t “roll the dice,” and the difference between good risk and carelessness.
Tom’s memorable moments from Druxel Burnham, his two decades on the CBOE floor as a trader, as well as the critical understandings that modified his trading style permanently.
Why Tom favors options above all, and the true facts disproving widespread misconceptions people have about options trading.
Tom’s breakdown of the necessary pieces crucial to successfully trade options and an explanation of how the Law of Large Numbers works with his personal strategy.
Handy tips for those who are looking to trade for a living, and Tom’s take on the psychology of trading and how that affects the majority of people who are not financially successful.

Links and Resources:

Chat With T-shirts & Hoodies – Only available until September 2nd, high-quality Chat with Traders apparel is waiting for you! Two prints, limited time only.
TEDx Talk: Passive Investing Is Broken – You can watch Tom’s 17 minute TEDx Talk filmed in Chicago in 2015.
tastytrade.com – More information on Tom Sosnoff is available at the tastytrade website, as well as hours upon hours of educational material for options traders.
Where Do I Start? – Watch Tom turn his daughter, Case Sosnoff, into a successful options trader in the first season of WDIS.
@tastytrade – Follow tastytrade on Twitter!
Technician – For professional-grade charts and technical analysis tools everywhere you go, use Technician!