Thinkorswim is famous for its charts – Kinahan says the trading platform has over 400 different chart designs, “so there must be one you’re really passionate about.”
Graphics also offer extensive customization. You can change the chart type by choosing from options such as Candle, Bar, Line, Equivolume, and Heikin Ashi. The default chart style is a candlestick, with a price column to the right and the time along the x axis. Rectangular bubbles display the highest and lowest prices within the time frame; icons indicate profit announcements and stock splits. Below you will see a bar chart that shows the daily volume.
Mapping enthusiasts can adjust the period, colors, cursor, and even the background. You can click and drag to exit the section and zoom in on a specific period of time, take notes with drawings, add studies such as volatility indicators, and share as you wish.
The explosion of interest in investing, trading strategies and stock trading over the past year – thanks to Robinhood, GameStop, Elon Musk and others – means that many newbie investors have recently entered the market. stock Exchange. But you don’t have to be an experienced trader to use thinkorswim. Education is one of TD Ameritrade’s priorities. You are therefore welcome even if it is your first negotiation.
Kinahan says the thinkorswim platform wants people to understand the risk up front. One of the mistakes new traders often make is looking at an opportunity and keeping their eyes on what they can potentially win, but more experienced traders tend to ask themselves, “What can I reasonably lose?” ? From there they ask themselves, “Is what I can do a decent compromise with what I think I can lose?” “
“We think we understand trading and try to help people avoid many of the mistakes we’ve made,” Kinahan adds. “And that’s why we teach this first.”
In the Analyze tab, there is a probability analysis tool that can help you determine if a stock will move in the future. (You can also do this by developing your charts.) Active traders who have experience – and a desire to delve into the world of thinkorswim – can use the thinkScript programming language to do their own research, trading strategies, alerts and more.
Need more information ?
If you click on the Education tab, thinkorswim will take you to its Learning Center, which offers guides on everything from platform setup to entry and exit strategies to the Forex Trader interface. . The learning center also offers webcast tutorials on how to trade futures and use the calendar, an interface that includes earnings reports, conference calls, and more. And, of course, off-site there are YouTube tutorials for just about any thinkorswim question you can think of.
Kinahan says use of thinkorswim’s official Education tab increased 300% last year. Video # 1 was a tutorial on fundamental equity analysis.
“I think retail traders haven’t received enough credit for the time they spent on education,” he says. “People weren’t just trading, they wanted to[ed] to learn to understand better. “
We’re biased, but we’d say reading this guide is a good start.
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