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

When you make a trade, the platform will initially set up the trade based on your trading defaults. For example, if you make a stock trade, and your default quantity is 100 shares, when the order entry or trade confirmation window pops up, the trade will be for 100 shares. This can be adjusted manually on each trade, or if you consistently trade a specific volume, you can change your default. When trading stocks, defaults can be set for order types, stops, maximum quantity, order quantity and quantity increments.

You can also set defaults for options, futures and forex trading.

If you wish to change your trading defaults click the Setup button and choose Application settings. The Setup button usually appears in the upper right-hand portion of the screen.

Figure 10. Setup Menu


From there, a User Setup box will appear. Click on the Order Defaults tab. Then, from the drop-down menus, customize your trade defaults.

Conclusion
The Thinkorswim trading platform provides multiple ways to trade. Trades can always be made from the Trade tab, or simply right-clicking almost anywhere in the platform (such as a chart or a quote) will produce a menu which provides buy or sell choices. If you have troubles are need a question answered you can always refer to the Help tab located near the top of the screen. From there you can access chart support, forums and online tutorials. Before trading, become familiar with the software. Use the analysis tools and attempt to make some trades on a demo account (called a paper money account) before placing live money on the line.

SEE: TD Ameritrade Thinkorswim: Introduction



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