The scheme is no different. The only difference between this and other methods is his expected return which he can control by adding more size. In the end it all becomes the same. Selling vol is tricky. Buying it is tricky. The skewed returns are what make it tricky. There’s no simple systematic to avoid that.
In case you're serious: basically they advocate looking for high IV rank underlyings and sell strangles/straddes/Condors etc. They give the mechanics of management too. The issue is, following what they say at face value is bound to make you just about break even because all they do is blanket screen for liquidity and high IV rank. "Rank is high? Sell sell sell!!!" A very quantitative approach. You would have to do more homework and be more selective to make it work. But it's at least a framework. Which tells me that if OP's friend can't make it work for them then it's not so much Tasty's fault (everything they have is free online btw) as it is the friend expecting things to be handed to them and function, right out of the box. I mean... ugh... I don't know anything about no Tastytrade or Works. I've never even heard of a Sosnoff.
Son, you would think this funny. Where I come from, friends take care of friends. When you get older you may understand. nothing to contribute of value?
You're trading a $3K account... so what can you offer? Telling your friends to risk $300 for a high-probability of $12.50 before fees? With friends like that........
Nothing to do with ... not taking care of someone. You won't allow friends to lose. Absurd, unless you trade their money or they are robots. As for how old I am, let's just say I am old enough to remember Drumpf and his Art of the Deal he made to take over the Commodore Hotel and turn it into the Grand Hyatt.
The tasty trade way they say trade small and trade often right? I believe the opposite, Trade seldom and trade large. Not large enough to blow up your account on one trade but somewhat large. That being said I think you should trade as small as possible until you become consistently profitable and then start increasing the size