Hello, traders, I'm Mike Obucina, senior content
producer here at TD Ameritrade.
And in this video, I'm going to give you
a walkthrough of our brand new trading platform thinkorswim
Web, a web-based trading platform with many
of the features and functionality that you're
familiar with on thinkorswim desktop,
however, now available on a web-based trading platform.
So in this video, I'm going to give you
a walkthrough of the layout of thinkorswim Web
and show you some key features and functionality,
like watchlist, charts, how to place a trade
on both stock and options.
So let's jump in and get started.
One of the main advantages to using thinkorswim Web
is that there's nothing to download or install.
Simply grab your nearest device, whether your phone or a tablet.
Or you can go to your computer or laptop
and simply launch your web browser.
From here, there's two ways to get to thinkorswim Web.
The first is to navigate directly
to trade.thinkorswim.com.
From here, you can simply enter your username and password
and log into thinkorswim Web.
The second way to get to thinkorswim Web
is navigate to www.thinkorswim.com and log
in right from the landing page.
OK, let's begin with the layout of thinkorswim Web.
Along the top, we have a connection status
and the ability to enter or look up a symbol.
On the other side, the time until the regular market close,
our notifications.
And you can also send feedback to the developers here.
And finally, we have settings.
Here we can change the language, change the quote color,
or even change the color of the entire site.
Now, if I want to see the site in light mode,
I simply click here.
And to change it back to dark mode, I'll click there again.
Over on the left is your account summary section
where you can get some information about your account.
So if you want to hide your personal information
while you're using the site, just click the icon
that you see here.
And then hides it across the entire site.
Now, just go ahead and click again to unhide them.
You can also switch the paper money from this section in case
you want to test out your trading strategies.
You can also use this to switch which
account you're viewing for your positions,
as well as which account you're trading in
in your live account.
OK, let's start customizing the platform.
And we'll do that by creating a watchlist.
So we're going to click the default
and then select Create a Watchlist.
Let's call this one Demo Watchlist.
And we're going to add the Fang symbols, for example.
So we'll start with Facebook, Apple, Amazon,
Netflix, and Alphabet.
Now, I've got all of these symbols on my watchlists.
If I want to move these columns, I just
drag and drop to change their order.
For instance, if I wanted to see the mark change before the mark
or to change their order back, just drag and drop again.
All right, let's go to a symbol and place a trade.
I can do this one of two ways.
First, I'm going to go to our symbol entry and type
the symbol for Microsoft.
Now, on this page, you can see we
have the symbol, company name, and the ability
to add it to our watchlist.
And you can see here this feature
will allow me to add it to the one we created,
which we called Demo Watchlist.
So clicking Demo Watchlist.
And you can see that Microsoft is now
added to the watchlist we just created.
The second way to get to this page
is by clicking symbols on the watchlist.
So we can navigate to Alphabet, Netflix, Amazon, Apple.
And each one I click on is going to load in the symbol area.
OK, let's buy 100 shares of stock.
After clicking on the Buy button,
an order will appear in the trade table
where I've got a Buy/Sell toggle that I can toggle by clicking.
And I can select the number of shares-- in this case, 100.
But I can change that to, say, 500 or any number I want.
In this case, let's go back to 100.
As I update the quantity, information about my order
is going to update in real time.
We have a bid and ask spread here.
And it will also show the mid price.
And you'll see that when the mid is between the bid and the ask.
So that will show up depending on the market.
Now, I have the limit price for my order,
which we're going to go ahead in this case and set it to--
we'll say 317, which is below the current market.
We also have our order types-- limit, market, market on close,
limit on close, stop, and stop limit.
I'm sending a limit order in this case.
We have our time and force options, day
and good till canceled.
I can also send those for the send in our session.
And we'll go ahead and review the order
where I'll get some order confirmation details.
The first is the account that I'm
sending the order to since I'm in all of my accounts.
So we're going to go ahead and select the margin account.
And we have an order summary and some information
about the order, like resulting buying power, buying power
effect, and the resulting buying power for options as well
as some quote data.
Now, let's go ahead and send that order.
And now we can see the order's working
in the market on our trade table.
And now that we have an order for 100 shares working,
I'm going to show you how to edit this order so that you
can change the price and get a film.
First, we're going to click Edit Selected.
And you'll notice I'm now editing
this order in a new order in the trade table.
Let's go ahead and make this a market order.
So that's going to fill at the current market price.
Let's review that order and send it.
You'll notice my fill comes in in the bottom right corner.
And once that information is gone,
I can also access it in that notification section.
Here, I have my information about my fill, my buy,
as well as my edit.
Once I'm done viewing notifications,
I can just clear all of those so that any new notifications that
come in will be visible.
So let's take a look at how you monitor positions in the All
Account Positions area.
Right now, I'm looking at my positions as well as
my working orders.
If I wanted to view only my positions,
I can do this by clicking on the Positions tab.
And I can click on the Working Orders tab
to see only the working orders that I have in place.
Let's go ahead and quickly cancel that working order
so that we can take a look at just our positions.
I can see that confirmation has come through.
The order's been canceled.
Now, let's close one of these positions.
We'll go into our Apple position,
which we opened earlier.
To close this position, click Close Selected.
And an order to sell the position
will come up on the screen.
Let's go ahead and make this a market order
so that we can see what happens once the position is closed.
I'm going to click Review and get our order
confirmation again and then send that closing order.
Now, our position in Apple is closed.
You can see that on the right in the All Accounts Position
Preview.
Now, let's imagine we want to put a stop
order on our Facebook shares.
First, we'll switch to Facebook by clicking on Facebook
in the positions preview.
And then we'll start closing this position
by clicking on Close Selected.
But the difference is this time, we're
going to change our limit order to a stop order.
We'll specify a lower price, like $200.
We're going to review that order and then send it.
Now, you'll notice we have both our Facebook position, as well
as the stop order to close that position should Facebook
go all the way down to $200.
So now that we've got our stop order on,
we can go back to our All Account Positions
and monitor this along with our positions
by switching to View to All.
Now, under Facebook, I can see both my position as well as
the stop order that I have working.
Let's take a look at some of the things we can do on this page.
You'll notice that right now I have some data.
For example, quantity, some profit and loss numbers,
cost and net liq trade price, buying power effect, and then
some of the Greeks, which may not
be as applicable to this portfolio since it's all stock.
So if we wanted to remove that, for example,
we could remove gamma, theta, and vega.
To do that, I just click and drag down.
Once I've dropped those in the column drawer,
they'll be removed from the view.
OK, now let's take a look at charts on thinkorswim Web.
To start, we'll click on Microsoft
and go to Microsoft's trade page.
Beneath the trade table is the chart.
I can hover my mouse over the chart giving me
cross hairs that tell me what date and price level my mouse
is located at.
So I can also see in the top left-hand corner of the chart
the open, high, low, and closing prices
for the candle that my mouse is currently hovered over.
So, for example, if I wanted to look at last week's close,
I could hover over the candle for last week
and see the close in the top left-hand corner of the chart.
If I wanted to change how much data
I'm viewing, which is currently set to one year,
I can go to the top left, click on one year, and then change
to, say, one week where I'll now be viewing the one-hour candles
for the past five trading days.
OK, let's show you how to buy a call option on thinkorswim Web.
Let's go to the symbol for Netflix.
And we can take a look at some ways that we can buy a call.
There are two ways that you can buy a call on this page.
First is to simply start an options trade
from the trade table, which will move you right into the option
trade ticket where you can select
the expiration and the strike of the call.
All of the other controls on the order ticket
are going to be the same as we did in the stock example.
The other way is to start the call option
order from the option chain.
So we'll expand the option chain.
And then we'll pick the expiration we want to trade.
If, for instance, I wanted to buy the call that
expires in 52 days, I would expand the March 20, 2020
expiration with 52 days left.
In the option chain, we have the calls
on the left, puts on the right.
And the strike price is in the middle.
All of these options expire in 52 days.
So let's go ahead and find the 360 call.
And we're going to buy that call by clicking on the ask price.
If I wanted to sell that call, I would click on the bid price.
Or if I wanted to change that to another call,
I could simply click again to remove it and let's
say buy the 365 call.
So let's go ahead and go down to review that order.
You can see that the order I'm reviewing
has many of the same properties as we saw before.
In this case, I have the March 20 expiration here,
the 365 strike that I've selected.
And it's currently set to buy at $9.90,
which is the current asking price for the call.
Leave that at a limit order.
And then when you're ready, click Send.
To the right, we have the profit and loss profile
for this long call that we have selected in the trade table.
We have the green shading to represent our potential profit,
the red shading to represent our potential loss.
And then you'll see this dotted green line, which represents
the current price of Netflix.
One thing you'll also notice is that we
have a dotted blue line.
And this represents our profit and loss
as of today as opposed to say the profit
and loss at expiration, which is in 52 days.
Now, that's represented by the green and red shaded line.
And that's a quick look at thinkorswim Web.
For more information on this platform,
as well as thinkorswim desktop and mobile,
head over to thinkorswim.com.
If you're looking for other great investor education,
check out the education center on TDAmeritrade.com.
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So thanks for watching the video and happy trading.