StreetSmart Edge® to thinkorswim® Part 2

TL;DR

Learn how to use thinkorswim for advanced trading functions like risk analysis, stock scanning, and market tracking.

Transcript

Hello and welcome to this intro video on the thinkorswim® trading platform. This video will familiarize you with the platform so you can take advantage of your favorite features and functions of Street SmartEdge® when using thinkorswim. Let's discuss the more advanced functions and compare that functionality with Street SmartEdge. This session will... Read More

Key Insights

• ✳️ Thinkorswim offers advanced trading functionalities for risk analysis, stock scanning, and market tracking.
• 🅰️ Customizable features like column layout, filter options, and spread types enhance the trading experience.
• ⚾ Probability Analysis on thinkorswim assists traders in making informed decisions based on stock movement probabilities.
• 🔨 The Stock Hacker and Option Hacker tools help traders find stock and option candidates meeting specific criteria.
• 😃 MarketWatch tab provides a bird's eye view of market movers and sector performance.
• 📑 The Education tab offers resources for learning and improving trading skills on thinkorswim.

Questions & Answers

Q: How can you analyze the risks and probabilities of option trades on thinkorswim?

You can utilize the Analyze tab to visualize the profit, loss, and breakeven of option trades. By adding a simulated trade, you can see real-time risk analysis by sliding the cursor across the graph.

Q: What customizable features does thinkorswim offer for option trading?

Thinkorswim allows users to customize columns, filter option chains, change spread types, and adjust price slices for different price intervals. This enhances the trading experience for users.

Q: How does the Probability Analysis subtab help in trading decisions?

The Probability Analysis subtab provides the probability of a stock moving above or below a certain price by a specific date. This information can assist traders in making informed trading decisions based on probabilities.

Q: How can traders use the Stock Hacker and Option Hacker on thinkorswim?

The Stock Hacker helps traders screen for stocks based on criteria like price, volume, and market cap. The Option Hacker scans for option candidates meeting specific criteria, aiding in decision-making for options trading.

Summary & Key Takeaways

• Introduction to the thinkorswim platform for advanced trading functions.

• Detailed guide on how to analyze risks and probabilities using the Analyze tab.

• Explanation on how to scan for trades and track markets using the Scan and MarketWatch tabs.