Td Bank Thinkorswim Trading and Investing Guide

Thinkorswim is a powerful trading and investing platform offered by TD Bank, allowing users to trade stocks, options, futures, and forex with advanced tools and features. Thinkorswim is designed for both beginners and experienced traders.

TD Bank acquired Thinkorswim in 2009, expanding its online trading capabilities. Thinkorswim was originally founded in 1999 by Tom Sosnoff and Byron Wein.

Thinkorswim's platform offers a wide range of tools and features, including advanced charting, technical analysis, and automated trading systems. This flexibility makes it suitable for traders with varying levels of experience and investment goals.

TD Bank's Thinkorswim platform provides access to a vast array of investment products, including stocks, options, futures, forex, and cryptocurrencies.

Thinkorswim is a powerful trading platform developed by TD Ameritrade, available on desktop, mobile, and the web. It's designed to provide traders with advanced tools and resources for analyzing markets and executing trades.

The platform has a built-in scanner that can generate trade ideas based on custom criteria you set. You can then analyze these ideas in the charting widget using various drawing tools and technical indicators.

Thinkscript, the programming language of thinkorswim, allows you to code custom indicators if you don't see what you're looking for. This means you can tailor the platform to your specific needs and trading style.

The fundamentals of any company you want to trade are also available as a phase score, giving you a better understanding of the company's financial health.

To get started with thinkorswim, you need to download the platform from the TD Ameritrade website once you've opened an account.

First, familiarize yourself with the trading platform by using the demo account, also known as "paper money", which comes with every thinkorswim installation. This will help you get comfortable with the mechanics of the platform and how to execute trades without risking your capital.

Ask the support desk to enable real-time data for your demo account, which will have a 20-minute delay if not enabled.

To set up thinkorswim, you'll need to download the platform from the TD Ameritrade website after opening an account.

The installation process is straightforward, and once installed, you can log in using your TD Ameritrade account credentials.

The platform will guide you through the setup process, including customizing your layout and configuring preferences.

You'll also need to enable real-time market data subscriptions, which can be done through the platform.

If you have any issues or questions during installation and configuration, don't hesitate to call the support desk.

Before diving into your funded account, it's a good idea to familiarize yourself with the trading platform using the demo account that comes with every thinkorswim installation.

The demo account, also known as "paper money", allows you to practice trading without risking your capital.

To get the most out of your demo account, be sure to ask the support desk to enable real-time data, which will have a 20-minute delay if not enabled.

There is no minimum funding required to open an account, so you can get started right away.

However, special promotional offers may have requirements, so be sure to check the fine print.

The electronic funding minimum is $50, which is a relatively low barrier to entry.

To take advantage of margin or option privileges on your account, you'll need to meet the minimum requirement of $2,000.

To manage your TD Bank Thinkorswim account, you can easily access your account information and settings through the platform's dashboard.

You can view your account balances, positions, and orders in real-time, making it easy to stay on top of your investments.

To make changes to your account, simply log in to your account and navigate to the settings section, where you can update your personal information and preferences.

By keeping your account information up to date, you can ensure that your investments are always accurately reflected in your account.

The account dashboard is where you'll spend most of your time as a user. It's the central hub of your account, and it's where you'll find all the tools and information you need to manage your account effectively.

The dashboard displays your buying power in orange on the top left-hand side. This is the amount of money you have available to use for trading.

You can research any stocks you're interested in by typing in the ticker symbol and seeing the top news items for that stock. This is a great way to stay up-to-date on market news and trends.

The dashboard also allows you to watch live news channels, including CNBC, right on the page. This is a convenient feature that lets you stay informed without having to switch between tabs or windows.

Your watch list is displayed on the dashboard, so you can easily keep track of the stocks you're interested in. You can also add new gadgets to your dashboard by clicking the "+" button in the lower left-hand corner.

If you want to customize your dashboard, you can delete gadgets by clicking the button in the top right-hand corner of each gadget and selecting "delete". You can also minimize gadgets by clicking the down arrow in the left-hand corner of the specific gadget.

Transferring Funds can be a straightforward process with TD Ameritrade. You can transfer funds electronically from your bank account.

TD Ameritrade offers various options for funding your account, including wire transfers and check deposits. Detailed instructions are available on their website to guide you through the fund transfer process.

If you need more detail or support, you can call the helpline. Brokers like TD Ameritrade work on your behalf to earn your business, and their representatives are usually happy to answer your questions.

TD Ameritrade, the company behind thinkorswim, is a reputable and well-established brokerage firm founded in 1975.

TD Ameritrade is being acquired by Charles Schwab, a move that has likely increased scrutiny on its safety measures.

The thinkorswim platform incorporates advanced security measures to ensure the safety and privacy of users' sensitive data and transactions.

TD Ameritrade offers additional account protection through SIPC (Securities Investor Protection Corporation) coverage of up to $500,000 in the event of a firm failure.

TD Ameritrade has also purchased additional insurance that protects up to a combined return of $152 million per customer.

Trading options on thinkorswim is a straightforward process. You can access the option chain by navigating to the "Trade" tab and searching for the underlying instrument you want to buy options on.

To buy options, first, find the underlying instrument and then select the series of expiration you want. Calls are on the left and puts are on the right, so make sure to choose the correct one. You can then select your strike and click on the bid or ask to place the order.

You can adjust the quantity, strike, and expiration, as well as the order type and price, right on the order details window. Review everything carefully before submitting the order, as thinkorswim will provide real-time order status updates.

To buy an option, navigate to the top "Trade" tab on thinkorswim and search for the underlying instrument you want to buy options on.

You can find the option chain in the "All Products" sub-tab, where you can select the series of expiration and choose between calls and puts.

Calls are listed on the left and puts on the right, so make sure to select the correct one for your trade.

To place the trade, you'll need to select the strike price and click on the bid or ask.

An order details window will pop up, where you can change the quantity, strike, and expiration, as well as the order type and price.

Review the order details carefully to ensure everything is correct before submitting the order.

Thinkorswim will provide real-time order status updates, so you can monitor your positions in the Positions and Account window.

You can also trade options in the active trader module, just like you would with stock.

ThinkScript is a powerful tool for traders, allowing them to create custom studies and strategies using a proprietary scripting language.

With thinkScript, you can develop and test your own technical indicators and trading systems, giving you a unique edge in the market.

thinkScript provides extensive documentation and resources to help users learn and master the language, making it accessible to traders of all levels.

This means you can leverage the power of custom coding to create tailored solutions for your trading needs, without needing to be a programming expert.

Trading on thinkorswim is made easy with the variety of tools at your disposal. You can view different stock charts with their charting software, which is accessible on your dashboard by clicking the "charts" tab.

To customize your chart, you can switch between a line chart and a candlestick chart by clicking the "style" button. This allows you to visualize the data in a way that suits your analysis.

You can also add pre-built studies to your chart under the "studies" button, which enables you to add features like bollinger bands and moving averages.

Viewing multiple charts at once can be helpful for quickly comparing data, which is available at the bottom of the charting software.

Charting is a crucial aspect of trading, and Thinkorswim's platform offers a wide range of charting capabilities. To access charts on Thinkorswim, navigate to the Charts tab.

From there, you can select various chart types ranging from basic line charts to candle charts. The platform also offers advanced charting features, including drawing tools, time frames, and the ability to save and share your chart layouts.

You can switch it back and forth from a line chart to candlestick chart by clicking the “style” button. This flexibility allows you to visualize your data in different ways, which can be helpful in identifying trends and patterns.

On the bottom of the charting software, you can view multiple charts at once. This is helpful to quickly compare different stocks and make informed decisions.

Thinkorswim's charting software also allows you to add pre-built studies to your chart under the button “studies”. You can add things like bollinger bands and moving averages onto your chart, which can help you identify trends and make predictions.

The ability to customize your charts is endless with Thinkorswim. Users have the ability to truly make their charts fit their trading personality and style, whether that be custom studies/indicators, chart styles or candlestick patterns.

Monitoring your trades is a crucial step in the trading process.

You can monitor your trades by clicking the "monitor" tab on your dashboard.

If the order is working but hasn't yet been filled, it will be under the "working" tab.

If it has been executed, it will be under the "filled" tab.

Cancelled trades will roll down to the "cancelled orders" tab.

Open positions that are being rolled out to a different month will be under the "rolling" tab.

TD Bank's thinkorswim platform is a brokerage service that offers a range of account types, including individual, joint, and IRA accounts.

TD Ameritrade, the parent company of thinkorswim, is a member of the Securities Investor Protection Corporation (SIPC), which provides protection for customer assets up to $500,000, including a $250,000 limit for cash claims.

TD Bank's thinkorswim platform offers a wide range of investment products, including stocks, options, futures, forex, and cryptocurrencies.

Interactive Brokers is an international brokerage firm with a presence in multiple countries, including Canada, the United States, Australia, and more. They offer a wide range of financial instruments for trading, including equities, options, futures, and forex.

Their platform allows customers to trade in over 135 markets in 33 countries, giving them access to a vast array of investment opportunities. This is a significant advantage for traders who want to diversify their portfolios.

Interactive Brokers also offers a native trading platform called Trader Workstation, which provides similar functionality and features to TD Ameritrade's Thinkorswim platform. This makes Interactive Brokers a great alternative for traders who are already familiar with Thinkorswim.

They support 24 different currencies for trading, making it easy for customers to trade products in various markets. This flexibility is a major benefit for traders who operate in multiple currencies.

Interactive Brokers is considered one of the best alternatives to TD Ameritrade's Thinkorswim platform, and for good reason – their platform offers a wide range of features and data that clients can access directly.

TD Ameritrade's thinkorswim platform is free to use for its customers.

You can access the platform by opening an account with TD Ameritrade.

Stock trading on thinkorswim is zero commission.

Commissions apply to options, futures, and forex trades.