Tastyworks v TradingView

Discussion in 'Options' started by FortyTwo, Dec 4, 2020.

  1. FortyTwo

    FortyTwo

    After much more study, at some point in the future, I may dip my toes into the dark deep pool of options trading.

    In the interim I would like to buy some stock to hold long term (min 5 years) in the hope that my hard earned savings might at least keep pace with inflation. To do that and to get myself in place for any future options trades I am going to open up an account. I am inclined towards tastyworks simply to support Chris Bulter for his YT tutorials. Prior to Chris Butler I was edging towards uk.tradingview.

    I am in the UK and some of my stock purchase will be in ISA’a (I have an (ISA) account with Hargreaves Lansdown).

    From what I’ve said above are there any factors/features that would make tastyworks or uk.tradingview better for me?
     
    .sigma likes this.
  2. FortyTwo

    FortyTwo

    I Think I've found the answer to my question:
    Tastyworks is for Active Traders Who Primarily Trade Options. All the features and tools in TastyWorks are geared toward option traders.
    It’s Not for Stock Traders. TastyWorks has purposefully stripped out almost all the features that may be essential for stock traders but are not important to option traders.
     
  3. FortyTwo

    FortyTwo

    And, it looks like I can open an account with TradingView for free and if it doesn't met my needs nothing lost
     
  4. cafeole

    cafeole

    Tastyworks is a broker, TradingView is a charting package. You will still need a broker to trade with TradingView.
     
    .sigma and MarkBrown like this.
  5. I have been trading futures options more actively with tastyworks and I can tell you that it is one of the cheapest with a $2.50 for contract of trade. They don’t charge anything as closing commission. For equity trading too I figured they are the cheapest. $20 for 100 contracts in comparison with $65 that I was paying with Fidelity for the same volume. I am foraying into forex now and found Fxview as again a low commission broker for trading currencies with $1 per side trade.
    FYI trading view is not a broker, it’s a charting software, and a good one at that, for real time quotes and charts.
     
  6. I have a small account with Alpaca and I use TradingView as the trading platform. I really like TradingView's charting and scanning. Sad to say, Alpaca leaves a lot to be desired as a broker but should be just fine for buying and holding for a while. There are several brokerages that are compatible wiht TradingView. I can't connect TradingView to my IB account, but I often use TradingView's charts to make decisions like picking entry and exits, and then place my orders in TWS to IB. I do not trade options and have no experience with TastyWorks so I can't really compare the two, but TV is an excellent bit of webware and is very useful and flexible.