Trading Futures on thinkorswim® mobile (iPhone)

TL;DR

Learn to open a short position on futures contracts using the thinkorswim® app from a mobile device.

Transcript

thinkorswim® puts the power to place futures  trades in the palm of your hand. In this demo,   I’ll show you how to open a short position  on a futures contract from my iPhone.  Using the app, you can log in to the live  platform or paperMoney®. paperMoney is a   trading simulation in the thinkorswim platform  that allows you to practice placing tr... Read More

Key Insights

• 🥶 paperMoney® provides a risk-free environment for traders to practice trading before executing live trades.
• 😀 The thinkorswim® app allows users to place futures trades on the go from their mobile devices.
• 😀 Specific order details such as quantity, price, and time in force can be set easily using the app.
• ✊ Traders can monitor their buying power or margin requirements for each trade before executing it.
• 😀 The thinkorswim® app offers flexibility in choosing order types and time in force settings.
• 🏛️ Practicing in paperMoney® helps traders build confidence and refine their trading strategies.
• 🧘 Monitoring filled orders and positions is essential for tracking trade performance and making informed decisions.

Questions & Answers

Q: What is paperMoney® and how does it help in trading?

paperMoney® is a trading simulation in the thinkorswim platform that allows users to practice placing trades in real-time market conditions with pretend money. It helps traders build confidence before executing live trades.

Q: How do you select a specific futures contract to trade on the thinkorswim® app?

To select a specific futures contract, enter the symbol in the search field to see the list of available contracts. Choose the desired one and proceed with placing the trade.

Q: What is the significance of the Cost of Trade in the order editor?

The Cost of Trade in the order editor represents the commissions and exchange fees for the contract being traded, excluding the margin requirements. It helps traders understand the associated costs of the trade.

Q: How can traders monitor their trades and positions on the thinkorswim® app?

Traders can monitor their trades by checking the Orders section for filled orders and the Positions section to track how the trade is performing. They can also create closing trades from this section.

Summary & Key Takeaways

• The video demonstrates how to open a short position on a futures contract using the thinkorswim® app.

• Users can practice in real-time market conditions with paperMoney® before trading live.

• The app allows for specifying order type, quantity, price, and time in force for placing trades.