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Is Thinkorswim a good Platform for Futures Trading?
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Is Thinkorswim a good Platform for Futures Trading?

  #131 (permalink)
Elite Member
Las Vegas, Nevada
 
Futures Experience: Beginner
Platform: Think or Swim
Favorite Futures: Stocks
 
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WilleeMac View Post

With that said, I only use TOS for charting and not for actual trading.


-Bill

Is there a fee to use the TOS platform? I been playing around with the charts for a couple months and really like it. Used their play money account but that expires after 60 days use. Would like to continue to use it.

Also, has this been improved for trading futures on a 5_min time frame?


Last edited by Gaterz; May 3rd, 2014 at 11:43 AM.
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  #132 (permalink)
1.Fibs 2.??? 3.Profit
Puerto Rico
 
Futures Experience: Intermediate
Platform: thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: ES
 
rmejia's Avatar
 
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Gaterz View Post
Is there a fee to use the TOS platform? I been playing around with the charts for a couple months and really like it. Used their play money account but that expires after 60 days use. Would like to continue to use it.

Also, has this been improved for trading futures on a 5_min time frame?

Thinkorswim paper money is free to use forever AFAIK. Where did you read it expires after 60 days?

I use it live for trading futures and have no problem with charts.

Thinkorswim paper trading has instant fills (unrealistic) so if you are scalping futures, trading complex option spreads (hard to fill) or iliquid stocks it is pretty much useless. Try a ninjatrader demo for a closer to live experience if trading futures.

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  #133 (permalink)
Elite Member
Prospect, KY. USA
 
Futures Experience: None
Platform: Sierra Chart
Broker/Data: Infinity
Favorite Futures: /CL
 
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Posts: 680 since Jan 2012
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^^Yes


I use Infinity for futs, ToS for charts, primarily because of two or three custom study's/ scripts I run

I don't trust ToS for something that will hand you your ass in a nanosecond

Try funding an account for 500 clams (or less/ minimum) and see if that will get you a live feed

-Bill

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  #134 (permalink)
Trading Apprentice
Buenos Aires
 
Futures Experience: Intermediate
Platform: ThinkorSwim
Favorite Futures: ES, Forex, Stocks
 
Posts: 11 since Apr 2014
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rmejia View Post
Thinkorswim paper money is free to use forever AFAIK. Where did you read it expires after 60 days?

Yes, new demo accounts expire at 60 days. Old demo accounts last forever, though. I have a demo account since 2010 and it doesn't expire.

Another thing you can do is to open a real account without funds (it's free, but you have to send some documentation to them) and then you can use the On Demand function that gives you a virtual account with $100.000 to practice

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  #135 (permalink)
Trading Apprentice
Chicago
 
Futures Experience: Intermediate
Platform: e-trade
Favorite Futures: ES, Stocks
 
Posts: 5 since Dec 2013
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I also found out that TOS's renko chart is lagging and has lots of software issue on it.



plethora View Post
Missing Basic Features:
--A Bar Counter
--A Tick Counter
--Drawing Tool Fonts (The one size fits all is teeny tiny even after shutting down to exit the platform so you can increase the font -- and then log on again I kid you not.)
--An opportunity to Adjust the Default Fibonacci levels
--A Zillion Redundnat Clicks to Exercise the Most Simple Task such as Erasing a Drawing
--A Way to Save the "Customized" Tick Size even though you use the same ones every session
--Why is all the Space Wasted on the Bar Above the Chart When It Could House a ToolBox?

'nuf said. However, when you're tryin' to get everything to work the way you want it to and you may never do so, ya might stumble on a way to see the internals that ends up being enlightening.


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  #136 (permalink)
Trading Apprentice
Chicago
 
Futures Experience: Intermediate
Platform: e-trade
Favorite Futures: ES, Stocks
 
Posts: 5 since Dec 2013
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Thanks for the information, I have used thinkorswim for a while. Have been traded mostly in options and stocks before this. Just started traded futures with them recently.
For stocks and etf, I am able to lowered if to $5 per trade(regardless of number of stocks)
For options, they are able to lowered mine to $1.50 per contract.

Based on your information, I will try to negotiate the futures contract commission also.
Thanks!


Crude Man View Post
I trade around 10 roundtrips a day 50 a week or so. I asked them to lower it to $4 roundtrip and they did, but this was before TD bought out TOS, I think now you should still be able to get down to $5 RT. Good luck.


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  #137 (permalink)
Elite Member
Nanjing, NJ
 
Futures Experience: Intermediate
Platform: CQG/TOS
Broker/Data: Optimus/CQG
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plethora View Post
Missing Basic Features:
--A Bar Counter
--A Tick Counter
--Drawing Tool Fonts (The one size fits all is teeny tiny even after shutting down to exit the platform so you can increase the font -- and then log on again I kid you not.)
--An opportunity to Adjust the Default Fibonacci levels
--A Zillion Redundnat Clicks to Exercise the Most Simple Task such as Erasing a Drawing
--A Way to Save the "Customized" Tick Size even though you use the same ones every session
--Why is all the Space Wasted on the Bar Above the Chart When It Could House a ToolBox?

Bolded features are actually in the current release, not sure about others:
--A Tick Counter you can even change the place the counter on the chart
--A Way to Save the "Customized" Tick Size even though you use the same ones every session although you cannot save customized tick size, next time you open TOS it will automatically load the last configuration before you logged off. if you're comfortable with a specific tick size, just stick to it and it should not be an issue
--Why is all the Space Wasted on the Bar Above the Chart When It Could House a ToolBox? you can customize the margin on the top/bottom of the chart

It takes a while to explore all the potentials.

One thing I appreciate TOS is the platform takes care of rollover. No messy manual adjustment/mapping/changing symbol required

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  #138 (permalink)
Elite Member
Prospect, KY. USA
 
Futures Experience: None
Platform: Sierra Chart
Broker/Data: Infinity
Favorite Futures: /CL
 
WilleeMac's Avatar
 
Posts: 680 since Jan 2012
Thanks: 301 given, 600 received

DOM

If considering using ToS for trading futures (not charting) compare the ToS DOM to Infinity (example) on /CL esp during fast market

-Bill_M

EDIT

The original question

Is Think or Swim a good Platform for Futures Trading?


NO


Last edited by WilleeMac; November 27th, 2014 at 10:38 AM.
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  #139 (permalink)
Elite Member
Louisville, Kentucky
 
Futures Experience: Intermediate
Platform: Sierra Chart, IRT
Broker/Data: Various
Favorite Futures: Futures
 
empty's Avatar
 
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Depends on the Person


WilleeMac View Post
If considering using ToS for trading futures (not charting) compare the ToS DOM to Infinity (example) on /CL esp during fast market

-Bill_M

EDIT

The original question

Is Think or Swim a good Platform for Futures Trading?


NO

It's funny when people make blanket statements like this. Personally I would never scalp futures on ToS. It always lags for me. That said I have a very good friend that trades 3000 - 5000 contracts on ToS every month. He scalps trades all day long and uses ToS exclusively, pays lower commissions than I do, and consistently does well. He is a huge fan of the platform. For options ToS is fantastic.

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  #140 (permalink)
Elite Member
Charlotte NC
 
Futures Experience: Advanced
Platform: Charts:Ninja Trader w/IB, execution:TOS
Broker/Data: TOS
Favorite Futures: CL, ES, ZN, ZB, RUT.
 
Posts: 227 since Jul 2009
Thanks: 98 given, 118 received


If you only used market orders then TOS is not for you. If you set limit orders at specific levels before price gets to those levels, there is no difference since the orders are all sitting at the exchange. You will see a lag on your screen but your order will be executed fine regardless of the broker.

Sent from my Nexus 7 using Tapatalk

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