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

  #51 (permalink)
Elite Member
Portland, OR
 
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TonyB View Post
Indeed. Fantastic. I'll do so on the home computer tonight. I'll let the TOS rep know that it is doable, despite what he said... Thanks again.

Did you practice your futures trading, or paper trade on TOS? If so, curious if you did so on PM, or Live, but via OnDemand or otherwise...

I just used the paper money, not OnDemand. IMO, I would've been better off just using the live platform, 2 trade maximum/day, max loss per day, and taking it slow....not trading everyday. Watching and learning. For me, sim is best used to become skilled using the platform and knowing the ins and outs. I lost 9k in four months when I first converted from sim to live. Then I lost 3.5k over an entire year of studying 8+ hours/day live averaging 1 trade/day. Finally turned a corner after that year (16 months total). I hope I can continue. I believe I can. I have over 6000 hours of chart time total. It will be three years this June since I started my initial studies.

Psychology > Strategy ≥ Money
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  #52 (permalink)
Go Bears!
Bay Area, CA - US
 
Futures Experience: Beginner
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Massive l View Post
I just used the paper money, not OnDemand. IMO, I would've been better off just using the live platform, 2 trade maximum/day, max loss per day, and taking it slow....not trading everyday. Watching and learning. For me, sim is best used to become skilled using the platform and knowing the ins and outs. I lost 9k in four months when I first converted from sim to live. Then I lost 3.5k over an entire year of studying 8+ hours/day live averaging 1 trade/day. Finally turned a corner after that year (16 months total). I hope I can continue. I believe I can. I have over 6000 hours of chart time total. It will be three years this June since I started my initial studies.

Sounds like solid advice as it makes sense. I can't always watch the mkt all that closely on some days of the week. On those days, I'll replay it via OnDemand, usually a few days later, so I won't remember the day's action. OnDemand allows for 3x speed, so it won't take so long, but I can still get a feel for things...

Again, much appreciated.

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  #53 (permalink)
Elite Member
Dallas
 
Futures Experience: Intermediate
Platform: ThinkorSwim, Ninjatrader, Multicharts
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I have been with TOS for over 2 years, my point of view and experience the platform is steady, there are many updates during the year. I have seen new features constantly being added. I mainly day trade futures and ETF. The commissions are bit expensive, you do not pay data fee or platform fee.
They have added range bars to their platform.
2 years ago I had negotiated much lower round trip for futures( including commission and exch fee) and way below their market rate unlimited for stocks and options.

To sum it up Customer service is top notch atleast from my point of view, Platform is steady and fast, Commissions are reasonable, plus no data fee or platform fee, plus there is a live chat and tons of webinars on a weekly basis from Industry experts. I think TD Ameritrade holdings being a bank, your money is protected. Hence I have one less worry if my brokerage will go burst like MF Global and small mom and pop shops.


Here is the protection link
https://www.tdameritrade.com/faq/newaccount.html#9

Is my account protected?
If you lose cash or securities from your account due to unauthorized activity, we'll reimburse you for the cash or shares of securities you lost. We offer you this protection, which adds to the provisions that already govern your account, in case unauthorized activity ever occurs and it was through no fault of your own. Learn more.

In addition, TD Ameritrade, Inc. is a member of the Securities Investor Protection Corporation. Securities in your account protected up to $500,000. For details, please see www.sipc.org.

TD Ameritrade also provides $149.5 million worth of protection for each client through supplemental coverage provided by London insurers. The $149.5 million of coverage includes a sub-limit of $900,000 on cash. Each client is limited to a combined return of $150 million from SIPC or London insurers. The TD Ameritrade supplemental Insurance Policy has an aggregate limit of $500 million for claims from all TD Ameritrade clients. This supplemental insurance provides coverage following brokerage insolvency and does not protect against loss in market value of the securities.

Now Do your own due diligence and see if they fit your needs.


Last edited by optionzen; April 15th, 2012 at 05:53 PM.
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  #54 (permalink)
Trading Apprentice
Portland, Oregon
 
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You've done well!

Wow, you've done well!! I'm curious, what are you daytrading? ES futures? Also, do you by chance know who is the better futures broker? I'm currently using Infinity Futures and TOS (for charts)

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  #55 (permalink)
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Portland, Oregon
 
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Nice P&L!


Massive l View Post
I daytrade 1-2 trades a day using thinkorswim full time. It works just great IMO.

I paper traded for 2 years before going live.
Although tos gives you $100,000, I never put more than $20k into my trades.
20k is still the most I put in a trade live but most of the time I do around 10k.

I pay low commissions with tos. They will work with you.

Massive! I'm interested in your trading style...how do you do so well?

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  #56 (permalink)
Elite Member
Prospect, KY. USA
 
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IMO yesterdays HFT seminar is an answer to why TOS is not the best futures platform available

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  #57 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
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optionzen View Post

Is my account protected?
If you lose cash or securities from your account due to unauthorized activity, we'll reimburse you for the cash or shares of securities you lost. We offer you this protection, which adds to the provisions that already govern your account, in case unauthorized activity ever occurs and it was through no fault of your own. Learn more.

In addition, TD Ameritrade, Inc. is a member of the Securities Investor Protection Corporation. Securities in your account protected up to $500,000. For details, please see SIPC - Securities Investor Protection Corporation.

TD Ameritrade also provides $149.5 million worth of protection for each client through supplemental coverage provided by London insurers. The $149.5 million of coverage includes a sub-limit of $900,000 on cash. Each client is limited to a combined return of $150 million from SIPC or London insurers. The TD Ameritrade supplemental Insurance Policy has an aggregate limit of $500 million for claims from all TD Ameritrade clients. This supplemental insurance provides coverage following brokerage insolvency and does not protect against loss in market value of the securities.

Now Do your own due diligence and see if they fit your needs.

Great to see this information in the wake of the PFGBest collapse. TDAmertrade due to it's implicit "umbrella" offering of all the various trading instruments would also seem to have a more reassuring watchdog policy over their futures and forex accounts and not just their equities and options insurances.

I've completely reversed my opinion from my earlier post in this thread from last year as TOS has been greatly updated under TDAmeritrade as well as acceptable speed & excecution for intraday futures/forex daytrading since then. What I wrote about earlier has been fixed now.

The feed is still filtered so probably not the best for scalping on a 133 tick range, but 5min time frame or above is fine.


Last edited by Cloudy; July 12th, 2012 at 09:39 AM.
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  #58 (permalink)
Elite Member
Pismo Beach CA
 
Futures Experience: Intermediate
Platform: TOS, IB, Fidelity for 'swing' trades
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Cloudy View Post
Great to see this information in the wake of the PFGBest collapse. TDAmertrade due to it's implicit "umbrella" offering of all the various trading instruments would also seem to have a more reassuring watchdog policy over their futures and forex accounts and not just their equities and options insurances.

I've completely reversed my opinion from my earlier post in this thread from last year as TOS has been greatly updated under TDAmeritrade as well as acceptable speed & excecution for intraday futures/forex daytrading since then. What I wrote about earlier has been fixed now.

The feed is still filtered so probably not the best for scalping on a 133 tick range, but 5min time frame or above is fine.

Also, you can set all of your cash sweeps to go to an FDIC insured bank account if you like. In addition to the trading community via TOS, they have a core of "buy/hold" accounts that makes me a bit more comfortable re the amount of risk they are encouraging/allowing and what would happen in a big sell-off.

"The Future Ain't what it used to be"
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  #59 (permalink)
Elite Member
Indianapolis, IN USA
 
Futures Experience: Advanced
Platform: Ninjatrader TOS Custom
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WilleeMac View Post
IMO yesterdays HFT seminar is an answer to why TOS is not the best futures platform available

@WilleeMac,
Hi, I haven't seen the HFT webinar, but could you elaborate a bit on your comment? Thanks.

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  #60 (permalink)
Elite Member
Prospect, KY. USA
 
Futures Experience: None
Platform: Sierra Chart
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Posts: 680 since Jan 2012
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I was referring to quality of the data feed for TOS etc

As well as using the DOM

Bill

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