StreetSmart Edge® to thinkorswim® Part 1

TL;DR

This video provides an overview of the thinkorswim trading platform, covering features such as login, account information, charting, placing trades, and education resources.

Transcript

Hello everyone and welcome to this intro video on the thinkorswim® trading platform. This video will make you familiar with thinkorswim, so you can take advantage of your favorite features and functions of StreetSmart Edge® on the thinkorswim platform. Let's start with the login screen. As you will notice, there are two options to choose from: live... Read More

Key Insights

• 🫒 The thinkorswim trading platform offers features for both live trading and simulated trading in a virtual environment.
• 🗨️ The platform has a customizable layout with a left sidebar for account information and gadgets, and a main window with tabs for various functions.
• 🫵 Account balances and positions can be viewed in specific subtabs on the platform.
• 💹 Charts on thinkorswim offer extensive customization options, including the addition of studies and drawings.
• ™️ Trades can be placed directly from various tabs, and options trades can be executed from the option chain.
• 🪈 The platform allows for the management of orders, including the ability to create conditional orders.
• 📑 The Education tab and Learning Center provide additional resources for learning about the platform.

Questions & Answers

Q: How do I view my account balances and positions on thinkorswim?

Account balances can be found in the left sidebar under Account Information, and positions can be viewed in the Activity and Positions subtab on the Monitor tab. Detailed account information can be accessed from the Account Statement subtab.

Q: Can I detach and customize the layout of the platform?

Yes, you can detach and customize the layout of thinkorswim. For example, you can close the left sidebar to have more viewing space on the Charts tab while still keeping your watchlist visible. Pages can also be linked for checking charts on watchlist items.

Q: How do I customize charts on thinkorswim?

Charts on thinkorswim can be customized by right-clicking (or command-clicking on Mac) to access a menu where you can change the chart style, add studies and drawings, and adjust the time frame. You can also use the toolbox above the chart for further customization.

Q: How do I place trades on thinkorswim?

Trades can be placed on thinkorswim by entering the symbol on the Trade tab and clicking on the ask price to populate a buy order. Right-clicking opens a drop-down menu for advanced trading functions. For options trades, you can select calls or puts from the option chain.

Summary & Key Takeaways

• The video introduces the login screen of thinkorswim, which offers options for live trading or paper trading in a virtual environment.

• It explains the layout of the platform, including the left sidebar for account information and customizable gadgets, and the main window with tabs for monitoring positions, placing trades, and analyzing charts.

• The video highlights how to view account balances and positions, customize charts, place stock and options trades, and manage orders. It also mentions the Education tab and Learning Center for further learning.