How to Buy Stocks on thinkorswim® Desktop Platform

TL;DR

To buy stocks on thinkorswim®, first navigate to the Trade tab and select the stock. Click the ask price to create a buy order, adjust order types (like market or limit), and review it in the Order Confirmation Dialog before placing the order. You can also monitor and manage orders in the Monitor tab for effective trading.

Transcript

Now, I'm going to show you probably the most  important activity that a trader should know   how to do on thinkorswim®, and that's how to buy  or sell a stock. First thing I'm going to do,   though, is I'm going to collapse the  left-hand sidebar by clicking this   button. That gives us some more real estate  so I can show you the entire Trade tab,... Read More

Key Insights

• 🪈 Utilize the Order Confirmation Dialog in thinkorswim® to review and confirm your buy and sell orders before finalizing.
• 🪈 The right-click function on thinkorswim® allows for order management, such as canceling or replacing orders.
• 🧘 Monitoring trade activity and positions can be efficiently done in the Monitor tab of thinkorswim®.
• 🪈 Thinkorswim® platform offers various order types, including market orders and limit orders, to cater to different trading strategies.
• 😷 Using the bid and ask prices in your watchlist on thinkorswim® allows for quick order placement.
• 🪈 Managing working orders on thinkorswim® involves setting specific conditions like price targets and order duration.
• ❓ Educational resources and tutorials are available on Insights & Education at schwab.com for further learning on thinkorswim®.

Questions & Answers

Q: How do you collapse the left-hand sidebar on thinkorswim® for more real estate?

You can collapse the left-hand sidebar by clicking a button, allowing for more screen space to view the Trade tab in its entirety.

Q: What does the Order Confirmation Dialog in thinkorswim® offer?

The Order Confirmation Dialog is where you review and confirm your order details before placing them, giving you a final chance to check everything.

Q: How can you place a market order for buying stock on thinkorswim®?

To place a market order to buy stock, you select the MARKET order type, ensuring you get filled at the best available ask price without specifying a limit price.

Q: Where can all your order history be found on thinkorswim® desktop?

All your order history for each trading day can be found under the Account Statements subtab in the Order History section on thinkorswim® desktop.

Summary & Key Takeaways

• Demonstrates how to navigate the Trade tab on thinkorswim® for stock trading.

• Shows how to place buy and sell orders for Apple stock using various methods.

• Guides on monitoring trade activity and managing orders effectively on the platform.