There are also options search tools, for example, the ‘Spread Hacker,’ which searches for option spreads that are based on numerous search variables. They include volume, industry, put/call ratio, bid/ask prices, % change, and many others. When you look at the top menu, you will find the ‘Analyze’ and ‘Scan’ tabs under which you can find lots of amazing search tools.įor instance, there is the ‘Stock Hacker,’ which is the platform’s equity screener and can search for trades based on numerous criteria. The research that this platform offers will go a great way in helping you decide what you want to trade. We liked the options scanner as it is a fantastic tool that can enable you to find options trades that meet specific setup criteria. You can configure the scanner based on fundamental or technical criteria, and its versatility will help you find ideas and potential trades. If you are familiar with FinViz or StockFetcher, you should not have any problem using this scanning tool. In addition to that, there are specific customized studies by stock market gurus, and they include John Person’s studies and John Carter’s studies. There are numerous technical indicators and studies on this platform, and they are categorized into different groups such as trend studies, momentum studies, and moving average studies. If it (the switch) is in the unlocked position, the limit price will adjust whenever the market price changes. One feature that stood out for us on the order ticket is the toggle switch with which you can use to lock and unlock limit orders. Some of the common types of complex orders include Market, Limit, Stop, Trailing Stop, Trailing stop limit, Market-on-close, Limit-on-close, Blast all, and Order cancels other (OCO).
This is a feature that established swing and day traders will find useful whereby you can send equities, funds, and options to specific venues.
It displays the leading exchanges and ECNs, and most of all does not require any subscription. Here is another basic yet essential tool for your stock trading venture. We were particularly impressed with the right-click menu, which offers both alerts and an order ticket. One thing we liked about the charts is that they are highly customizable, whereby you can use numerous color and scaling options with them. Some of the charting options available include candlesticks, Monkey Bars, Seasonality, OHLC bars, Candle Trend, Area, Equivolume, and Heikin Ashi charts. The first aspect of this program is its charting features, and they are quite popular due to the versatility they offer. Let’s now look at the main features that this program has to offer. Note that it may be a while before you are entirely comfortable using the software, but everything will be pretty straightforward once you are fully settled. This program has a wide range of trading tools that both beginners and advanced traders can find helpful. With time, it became one of the most popular trading platforms globally, which led to its acquisition by TD Ameritrade in 2009.
THINKORSWIM TD AMERITRADE SOFTWARE
The software program was founded by Tom Sosnoff and Scott Sheridan back in 1999. If you want to get more data options and customizability, we’d suggest that you use the desktop version.
That said, the mobile app isn’t really perfect for in-depth analyses…we’d prefer it for keeping tabs of your investment forays. Plus, it is available for Windows, Mac, and the web, in addition to a mobile app. Apart from trading, you can also use the program to perform complex analyses on potential trades and stocks. With this platform, you can trade just about any financial instrument, including stocks, bonds, options, futures, ETFs, and options on futures. Unlike TD Ameritrade’s central platform that deals with the retail market, ThinkOrSwim mainly targets established investors by presenting detailed and sophisticated information. ToS is a trading platform offered by TD Ameritrade, which is one of the leading brokerage firms in the US.