1. How To Place A Trade With Thinkorswim - Introduction
  2. How To Place A Trade With Thinkorswim - Opening And Editing Trades
  3. How To Place A Trade With Thinkorswim - Managing And Closing Trades
  4. How To Place A Trade With Thinkorswim - Trading Defaults

Once a trade is open, you can see how that trade is performing using the Monitor tab. This tab shows recent activity, open positions as well as capital in use and capital available to trade with.

Figure 8. Position Summary


To close a currently open position, right-click on the position to bring up a menu of available actions. From the menu, select "Create Closing Order." Selecting this option will automatically populate an entry order, which will close out, or offset, the open position.

Figure 9. Close Position Menu

This action will take you to the Trade tab, where you can adjust the closing order. For example, if you are long 500 shares, you may wish to sell only 300. Once you are satisfied with the order, click "Confirm and Send."

You will once again receive a pop-up confirmation window. From there, you can send the order to close out the position, delete the order, edit it, or send it to the queue to be sent out later.

SEE: Sorting Out The Trend And The Entry

How To Place A Trade With Thinkorswim - Trading Defaults

Related Articles
  1. Trading

    How To Place Orders With A Forex Broker

    Learn how to set each type of stop and limit when trading currencies.
  2. Trading

    The Basics Of Trading A Stock

    Taking control of your portfolio means knowing what orders to use when buying or selling stocks.
  3. Trading

    Options Trading Volume And Open Interest

    Learn how these two statistics can give you an edge in trading options.
  4. Trading

    How To Start Trading: Order Types

    The types of orders you use can have a large effect on your trading performance, so understanding the different order types is important to your success.
  5. Trading

    Making The Trade: Understand Order Types

    Buying and selling stock can be a lot like buying or selling a car. Traders should use and understand tools such as market orders, limit orders, day orders, and good-'til-canceled orders to ensure ...
  6. Trading

    6 Steps To A Rule-Based Forex Trading System

    Learn to add structure to your trading methods with these six important steps.
  7. Trading

    Reducing Risk With Options

    If you want to use leverage to your advantage, you must know how many contracts to buy.
  8. Managing Wealth

    A Day in the Life of a Hedge Fund Manager

    Learn what a typical early morning to late evening workday for a hedge fund manager consists of and looks like from beginning to end.
  9. Trading

    Ways To Gauge The Market Open Direction

    Accurately predicting the stock market’s opening moves can be a useful tool. If your projection is accurate, you have opportunity to profit. Of course, the first step is to correctly gauge the ...
  10. Trading

    Quit Your Job To Trade Stocks?

    Ready to quit your day job and become a full-time trader? These tips will help you determine your area of expertise.
Trading Center