NexusFi: Find Your Edge


Home Menu

 





Why do you use ThinkOrSwim?


Discussion in ThinkOrSwim

Updated
      Top Posters
    1. looks_one bob7123 with 4 posts (6 thanks)
    2. looks_two Leon of Pizza with 3 posts (2 thanks)
    3. looks_3 lrfsdad with 3 posts (3 thanks)
    4. looks_4 Big Mike with 2 posts (0 thanks)
      Best Posters
    1. looks_one Massive l with 7 thanks per post
    2. looks_two Cloudy with 2 thanks per post
    3. looks_3 bob7123 with 1.5 thanks per post
    4. looks_4 lrfsdad with 1 thanks per post
    1. trending_up 54,792 views
    2. thumb_up 34 thanks given
    3. group 29 followers
    1. forum 47 posts
    2. attach_file 5 attachments




 
Search this Thread

Why do you use ThinkOrSwim?

  #31 (permalink)
 
lrfsdad's Avatar
 lrfsdad 
milwaukee,wi, usa
 
Experience: Intermediate
Platform: Mobile TWS & mobile TOS. Dough.com
Broker: IB, TOS, FXCM
Trading: futures and options. looking into forex
Posts: 186 since Nov 2012
Thanks Given: 302
Thanks Received: 161


AKJeff View Post
8) Do you believe ThinkOrSwim is competitively priced?
Since I only trade options, my answer would be no. They charge a per contract rate of .70 plus a per trade rate of 9.95. The .70 rate per contract is competitive, but adding the 9.95 per trade on top of that puts them over the top as compared to other self-directed brokers such in Interactive Brokers.

Register for free at dough.com and open a tda brokerage account through their link. Unless something has changed since I did, you will get a flat 1.50 rate on options (depending on your size, maybe your cheaper with the 9.95). I believe you can still buy back short options for free that are .05 or less. You will also support tastytrade.com and be able to use TOS. Not sure if your current structure has it, but beware the $15 assigment fee if you get exercised.

https://tastytrade.com/tt/get-trading

oh, and you can trade with dough, a pretty slick option platform.

Visit my NexusFi Trade Journal Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Futures True Range Report
The Elite Circle
Exit Strategy
NinjaTrader
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
Deepmoney LLM
Elite Quantitative GenAI/LLM
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
GFIs1 1 DAX trade per day journal
18 thanks
The Program
18 thanks
  #32 (permalink)
AKJeff
fairbanks, alaska
 
Posts: 2 since Feb 2014
Thanks Given: 0
Thanks Received: 0


lrfsdad View Post
Register for free at dough.com and open a tda brokerage account through their link. Unless something has changed since I did, you will get a flat 1.50 rate on options (depending on your size, maybe your cheaper with the 9.95). I believe you can still buy back short options for free that are .05 or less. You will also support tastytrade.com and be able to use TOS. Not sure if your current structure has it, but beware the $15 assigment fee if you get exercised.



oh, and you can trade with dough, a pretty slick option platform.

Thanks for the info. I am aware of the special pricing given to members of Tastytrade and the new platform Dough. The 1.50 per contract is a good rate if you are only trading a few contracts and that is what it is designed for. I usually trade in 10 lots. So an iron condor would be 40 contracts. You multiply that by 1.50 and you come up with $60.00. My current rate is .70 per contract plus 9.95 per trade. So the same 10 lot iron condor would be $37.95. The same trade in my Interactive Broker account would be $28.00. Since I often leg out of an iron condor when I reach a 50% profit, using my TOS account, I would pay the 9.95 trade fee twice. That is why I don't trade as much in my TOS account as I do in my IB account. I mainly use TOS for analytics.

Reply With Quote
  #33 (permalink)
 
lrfsdad's Avatar
 lrfsdad 
milwaukee,wi, usa
 
Experience: Intermediate
Platform: Mobile TWS & mobile TOS. Dough.com
Broker: IB, TOS, FXCM
Trading: futures and options. looking into forex
Posts: 186 since Nov 2012
Thanks Given: 302
Thanks Received: 161



AKJeff View Post
Thanks for the info. I am aware of the special pricing given to members of Tastytrade and the new platform Doug. The 1.50 per contract is a good rate if you are only trading a few contracts and that is what it is designed for. I usually trade in 10 lots. So an iron condor would be 40 contracts. You muyt? Radingltiply that by 1.50 and you come up with $60.00. My current rate is .70 per contract plus 9.95 per trade. So the same 10 lot iron condor would be $37.95. The same trade in my Interactive Broker account would be $28.00. Since I often leg out of an iron condor when I reach a 50% profit, using my TOS account, I would pay the 9.95 trade fee twice. That is why I don't trade as much in my TOS account as I do in my IB account. I mainly use TOS for analytics.

Same here! Trading a smaller acct. Using the above and a larger one at IB.I know ib's commissions vary based on what exchange u were filled on and if u provided or took liquidity from the market. personally i like having both at my disposal especially because so much is done mobile for me. Probly getting off topic so best trading to you!

Visit my NexusFi Trade Journal Reply With Quote
  #34 (permalink)
 
Bermudan Option's Avatar
 Bermudan Option 
Chicago, Illinois
1% better Daily
 
Experience: Beginner
Platform: TradingView
Broker: ThinkOrSwim
Trading: Forex, Stock & Options
Posts: 673 since May 2011
Thanks Given: 838
Thanks Received: 471


AKJeff View Post
Thanks for the info. I am aware of the special pricing given to members of Tastytrade and the new platform Dough. The 1.50 per contract is a good rate if you are only trading a few contracts and that is what it is designed for. I usually trade in 10 lots. So an iron condor would be 40 contracts. You multiply that by 1.50 and you come up with $60.00. My current rate is .70 per contract plus 9.95 per trade. So the same 10 lot iron condor would be $37.95. The same trade in my Interactive Broker account would be $28.00. Since I often leg out of an iron condor when I reach a 50% profit, using my TOS account, I would pay the 9.95 trade fee twice. That is why I don't trade as much in my TOS account as I do in my IB account. I mainly use TOS for analytics.


Bermudan Option View Post
1) How long have you been using ThinkOrSwim?
8) Do you believe ThinkOrSwim is competitively priced?
Meh. Too expensive for my taste. I do most of my execution with OptionHouse nowadays

Samesies. I noticed you said there is chart lag. I used to love ThinkOrSwim charting personally, but I moved over to the (free) tradingview and haven't looked back since. They aren't a brokerage, they just strictly allow members to use their charts and have a community within. I use ToS for alerts on spreads and because their option chains are easier to load/read than OptionHouse but other than that, ThinkOrSwim is just a backup trading account for me that I occasionally execute low contract option trades or stock trades with.

Visit my NexusFi Trade Journal Reply With Quote
  #35 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,536

Moderator Notice
Moderator Notice



Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #36 (permalink)
CMan1
Vero Beach, FL. USA
 
Posts: 4 since Aug 2014
Thanks Given: 23
Thanks Received: 1


alexstjo View Post
I have used TOS for almost 7 years now. While i like the system they have i feel that their pricing is not competitive any more.

I would like to know what you TOS users are paying. Please PM me and I will share with you my commission rate. I am thinking about calling them and asking for a lower commission rate.

thanks
Alex

If you go to tastytrade set up with them in dough fee is lower for TOS . Check it out worked for my act.
Great place to learn options.

Reply With Quote
  #37 (permalink)
 Azrael 
Jurong Singapore
 
Experience: Beginner
Platform: NinjaTrader
Broker: Optimus Futures/Rithmic
Trading: TF
Posts: 72 since Jul 2012
Thanks Given: 39
Thanks Received: 9

Just out of curiosity, how are the rates like for trading ETFs? I heard IB is better priced but are they really overpriced compared to IB?

Reply With Quote
  #38 (permalink)
Polkemon
Waldorf MD
 
Posts: 1 since Jan 2015
Thanks Given: 0
Thanks Received: 0

1) How long have you been using ThinkOrSwim? 1.5 years
2) What are your favorite features of ThinkOrSwim? The options analysis tab
3) What are some must-have deal breaker features in ThinkOrSwim that you could not do without? analysis tab
4) Do you use ThinkOrSwim in simulation mode only, or do you place live trades with it? Live trades
5) Are you a discretionary trader or an algorithmic trader? How does ThinkOrSwim help you with this? discretionary trader. I scan for setups that meet my rules, use the analysis tab to select the right trade, and then place the trade
6) How easy/hard was it for you to learn to use ThinkOrSwim? moderate. I put several hours into learning what I wanted to know
7) How do you rate ThinkOrSwim's customer service/support, assuming you have needed to use it? good to excellent
8) Do you believe ThinkOrSwim is competitively priced? yes, the platform is free for me! I think I'm getting a good commission rate, too
9) How do you rate the community support that exists for ThinkOrSwim? good to excellent

Reply With Quote
  #39 (permalink)
Chubbly
Ottawa
 
Posts: 87 since May 2015
Thanks Given: 67
Thanks Received: 88

1) How long have you been using ThinkOrSwim? 0.5 years
2) What are your favorite features of ThinkOrSwim? Order entry
3) What are some must-have deal breaker features in ThinkOrSwim that you could not do without? Ease of order entry for Options
4) Do you use ThinkOrSwim in simulation mode only, or do you place live trades with it? Both
5) Are you a discretionary trader or an algorithmic trader? How does ThinkOrSwim help you with this? discretionary Options trader
6) How easy/hard was it for you to learn to use ThinkOrSwim? Very easy compared other brokers Options platforms
7) How do you rate ThinkOrSwim's customer service/support, assuming you have needed to use it? good but it is a bit confusing when you live in Canada as the platform is modified to not allow Futures which is a pain.
8) Do you believe ThinkOrSwim is competitively priced? It is a bit higher than others so I may switch
9) How do you rate the community support that exists for ThinkOrSwim? good

Reply With Quote
  #40 (permalink)
 HardSwap3 
 
Posts: 20 since Jul 2014


1) How long have you been using ThinkOrSwim? 6 months
2) What are your favorite features of ThinkOrSwim? 1 click trades for complex option spreads, linked charts
3) What are some must-have deal breaker features in ThinkOrSwim that you could not do without? Ability to view multiple charts with links to watchlists
4) Do you use ThinkOrSwim in simulation mode only, or do you place live trades with it? Live trades only
5) Are you a discretionary trader or an algorithmic trader? How does ThinkOrSwim help you with this? Discretionary trader, ability to view multiple charts with links to watchlists
6) How easy/hard was it for you to learn to use ThinkOrSwim? Very easy
7) How do you rate ThinkOrSwim's customer service/support, assuming you have needed to use it? Very good
8) Do you believe ThinkOrSwim is competitively priced? Yes, when you factor in free real time data, and no platform fees
9) How do you rate the community support that exists for ThinkOrSwim? N/A, I don't really use it

Reply With Quote




Last Updated on December 10, 2020


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts