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



Related Articles
  1. Trading

    How To Place A Trade With Thinkorswim

    Learn how to place a trade with TD Ameritrade's ThinkorSwim trading platform.
  2. Taxes

    Understanding Default Risk

    Default risk is the chance that companies or individuals will be unable to pay their debts.
  3. Insights

    Why and When Do Countries Default?

    Countries can default on their debt. This happens when the government is either unable or unwilling to make good on its fiscal promises.
Frequently Asked Questions
  1. How did the ABX index behave during the 2008 subprime mortgage crisis?

    Read about the disastrous performance of the various ABX indexes in the subprime mortgage crisis of 2008 during the middle ...
  2. How did moral hazard contribute to the 2008 financial crisis?

    Learn about moral hazard, how it can affect outcomes and how it contributed to the conditions that led to the 2008 financial ...
  3. Which mutual funds made money in 2008?

    Read about the only mutual fund that turned a profit in 2008. Learn about risk-averse investment strategies and the financial ...
  4. Were Collateralized Debt Obligations (CDO) Responsible for the 2008 Financial Crisis?

    Collateralized debt obligations are exotic financial instruments that can be difficult to understand, Learn the role they ...
Trading Center