Thinkorswim is a desktop trading platform that offers customizable trading tools allowing easy access to your most-used features to power test your strategies, develop new ideas, and even execute some complex trades. You have access to plenty of features such as economic data, company profiles, options statistics, earnings tools, custom alerts. Once you've opened an account with TD Ameritrade, log in to thinkorswim Web to access essential trading tools and begin trading on our web-based platform.
- Once you've opened an account with TD Ameritrade, log in to thinkorswim Web to access essential trading tools and begin trading on our web-based platform.
- Thinkorswim Review. Although not marketed as a day-trading program, short-term traders nevertheless will find a lot to like about it. Thinkorswim is a desktop platform, which means the first step is to download the software and install it. TD Ameritrade offers thinkorswim.
OK, trading veterans: Think you know everything about the thinkorswim® platform from TD Ameritrade? Is it second nature to log in and conduct technical analysis or map out complex options moves?
Even if you consider yourself a thinkorswim black belt, there’s always more to learn. People often get comfortable doing what they’re familiar with and may forget to explore the platform further. Plus, new features are constantly being added that might improve your trading and research capabilities.
We asked a group of thinkorswim pros from TD Ameritrade about their favorite trading features. Some of the tools they touted are the tried-and-true workhorses we use every day. Others are deep under the hood, and still others are relative newcomers to the platform.
Chart Describer (Chesley Spencer, Director, Trading Product Development)
Chart Describer is a new feature in Charts. Find it just to the right of the Share subtab—look for a little box with an “i” sticking out.
The Chart Describer works like a scanner in reverse. Instead of saying, “I want to look at a specific stock symbol with the following technical factors,” it allows you to say, “I know nothing about technical indicators for this stock, but show me what they are.”
The platform knows all the technical indicators and when they’re returning potentially significant results. It will sweep through them for your symbol and time frame and add them to your chart. In essence, Chart Describer can show you which technical indicators are in play.
For example, it might pull up a stock’s nine-day moving average, its standard deviation channel, or its ParabolicSAR. Chart Describer pulls up whatever technical indicators its analysis reveals as key in the current action.
Select the bold language in the indicator descriptions and a box will pop up with easy explanations. Then slide your cursor back to the far right and select Add studies to chart to see the indicators charted.
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Active Trader Ladders (Stephanie Lewicky, Senior Manager, Futures & Forex)
Part of the power of thinkorswim is that it’s fully customizable—you can set it up exactly how you want. Active traders often want a chart, easy access to trade buttons, and a bird’s-eye view of the action. Ladders give you just that.
As the market moves up and down, so does the ladder. It’s like a living metaphor that lets traders “feel” the action. You can also see the volume that’s traded at each price so you know where the action is (or has been). Want to hit the bid or lift the offer? The big green and red buttons are right there (see figure 1). Want to put in a limit order? Hover on any point on the ladder and your default size pops up.
Content intended for educational/informational purposes only. Not investment advice, or a recommendation of any security, strategy, or account type.
Be sure to understand all risks involved with each strategy, including commission costs, before attempting to place any trade. Clients must consider all relevant risk factors, including their own personal financial situations, before trading.
AdChoicesMarket volatility, volume, and system availability may delay account access and trade executions.
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Past performance of a security or strategy does not guarantee future results or success.
Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Options trading subject to TD Ameritrade review and approval. Please read Characteristics and Risks of Standardized Options before investing in options.
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