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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)
 Gaterz 
Las Vegas, Nevada
 
Experience: Intermediate
Platform: TOS, NinjaTrader
Trading: Stocks, Futuers, Options
Posts: 18 since Apr 2014
Thanks Given: 0
Thanks Received: 0


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?

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  #132 (permalink)
 
rmejia's Avatar
 rmejia 
Puerto Rico
 
Experience: Intermediate
Platform: thinkorswim
Broker: TD Ameritrade
Trading: Options
Posts: 379 since Oct 2010
Thanks Given: 3,614
Thanks Received: 441


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)
 
WilleeMac's Avatar
 WilleeMac 
Prospect, KY. USA
 
Experience: None
Platform: Sierra Chart
Broker: Infinity
Trading: /CL
Posts: 687 since Jan 2012
Thanks Given: 309
Thanks Received: 617


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)
AndresG
Buenos Aires
 
Posts: 11 since Apr 2014
Thanks Given: 2
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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)
willyboy88
Chicago
 
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)
willyboy88
Chicago
 
Posts: 5 since Dec 2013
Thanks Given: 0
Thanks Received: 0

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)
 shzhning 
Madison, NJ
 
Experience: Intermediate
Platform: CQG/TOS
Broker: Optimus/CQG
Trading: ZN/TN/ES/NQ
Posts: 134 since Jun 2010
Thanks Given: 65
Thanks Received: 112


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)
 
WilleeMac's Avatar
 WilleeMac 
Prospect, KY. USA
 
Experience: None
Platform: Sierra Chart
Broker: Infinity
Trading: /CL
Posts: 687 since Jan 2012
Thanks Given: 309
Thanks Received: 617

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

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  #139 (permalink)
 
empty's Avatar
 empty 
Louisville, Kentucky
 
Experience: Intermediate
Platform: Sierra Chart, TastyTrade
Broker: Various
Trading: Futures, Options
Posts: 100 since Oct 2012
Thanks Given: 1,938
Thanks Received: 195


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)
 meyer99 
Charlotte NC
 
Experience: Advanced
Platform: Charts:TOS, execution:TOS
Broker: TOS
Trading: SPX, RUT. TQQQ, Stocks, /YM
Posts: 234 since Jul 2009
Thanks Given: 99
Thanks Received: 122


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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