Lesson 1 of 8: Downloading and Navigating thinkorswim | Getting Started with thinkorswim®

About this Video

• Video Title: Lesson 1 of 8: Downloading and Navigating thinkorswim | Getting Started with thinkorswim®
• Channel: Trader Talks: Schwab Coaching Webcasts
• Speakers: Cameron May
• Duration: 00:24:44

Introduction

This video tutorial provides a beginner's guide to the thinkorswim® trading platform. The instructor, Cameron May, covers downloading the software, navigating the interface, using key tools, and placing a sample trade. The focus is on basic functionalities to help new users get started.

Key Takeaways

• Downloading thinkorswim: The platform can be downloaded from schwab.com or thinkorswim.com. Users can utilize their existing Schwab login credentials. A paper money (risk-free) account option is available for practice.
• Platform Navigation: The platform uses tabs on the left (gadgets) and across the top for navigation, with sub-tabs offering additional options. Key areas include the Monitor, Trade, Analyze, MarketWatch, Tools, and Education tabs.
• Monitor Tab: Displays current trading activity, including open positions, working orders, and filled orders. Provides information on quantities, prices, profit/loss, and buying power effects.
• Charts Tab: Allows users to view charts, add technical indicators (studies), adjust timeframes, and utilize drawing tools for technical analysis. Examples include adding Relative Strength Index (RSI).
• Trade Tab: Enables users to place trades by selecting the desired security and order type (market order, limit order, etc.), specifying the quantity, and confirming the transaction.