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I've used TOS for about 5 years. The thing I like best is that there's no monthly fees and no data fees, so there is no compulsion to trade. I use it live and sim. They used to have an automated system tool called Prodigio which I used a little - but not enough to come up with usable system - then they dropped it. That prompted me to open a TradeStation account and start learning EasyLanguage.
Can you help answer these questions from other members on NexusFi?
1) How long have you been using ThinkOrSwim?
Over 5 years now.
2) What are your favorite features of ThinkOrSwim?
Easy to use for charting, checking option prices... much more user friendly than TWS.
3) What are some must-have deal breaker features in ThinkOrSwim that you could not do without?
Charting, we are not paying for live data, option chains - for manual trading OK.
4) Do you use ThinkOrSwim in simulation mode only, or do you place live trades with it?
Only simulation, why? Commissions - I told them they should give me better prices, they didnt -> I use IB :-)
5) Are you a discretionary trader or an algorithmic trader? How does ThinkOrSwim help you with this?
Discreationary algorithmic trader... I work like pilot in aircraft. Computers fly it, but I just sit there in case something goes wrong :-)
6) How easy/hard was it for you to learn to use ThinkOrSwim?
Easy, there was some kind of videotutorial back then, when Tom Sosnoff owned TOS.
7) How do you rate ThinkOrSwim's customer service/support, assuming you have needed to use it?
Horrible! Time of constat improvments is over - at least for now. I have asked them some time ago when will they add VIX futures - they answered me something like this: "During next year we will probably make it available in TOS." Thankfully it is available finally... but what about gasoil, canola (cad), etc etc...
8) Do you believe ThinkOrSwim is competitively priced?
No, it is not. Their commissions are too high. Their interest for shorting stocks is too high...
9) How do you rate the community support that exists for ThinkOrSwim?
I dunno about community support that exists for TOS.
This post is to recant my previous post in this thread. My lukewarm recommendation was too generous. To be clear, my complaint is focused on TOS charts and not Prophet Charts.
The past couple of months have seen consistent periods of missing data. Yesterday morning (Sat) we received a software update that rendered most charts unusable. We are missing Friday's daily bar, The weekly bar's close is Thursday's close and the intra-day charts show Friday data, but the close is wrong. There are variations of the problem, such that there may be a Friday daily bar print, bit the weekly bar is using the Thursday close, etc. Its a random mess. This is occurring for most of the issues that I look at. SPY, DIA, QQQ, IWM, CMI, HD, SBUX, UAL, V, 30y treasuries, gold, crude, copper, all the e-minis, CME & ICE, etc.
I tried to log on/off several times and the effect was also random. A particular missing Friday bar would appear and then disappear on a subsequent attempt.
1) How long have you been using ThinkOrSwim?
1 year.
2) What are your favorite features of ThinkOrSwim?
Mobile trading. Excellent options platform. Free data feed, free cnbc feed (US. Asia, Europe)
3) What are some must-have deal breaker features in ThinkOrSwim that you could not do without?
Great mobile platform, free CNBC streaming, Swim lessons
4) Do you use ThinkOrSwim in simulation mode only, or do you place live trades with it?
Live trade
5) Are you a discretionary trader or an algorithmic trader? How does ThinkOrSwim help you with this?
Discretionary.
6) How easy/hard was it for you to learn to use ThinkOrSwim?
Easy/Medium. I pick it up in about a week . Still learning.
7) How do you rate ThinkOrSwim's customer service/support, assuming you have needed to use it?
Excellent
8) Do you believe ThinkOrSwim is competitively priced?
It's alright. but consider the free data feed, excellent mobile platform. I also negotiated my commission before I open the account.
9) How do you rate the community support that exists for ThinkOrSwim?
Its great. Swim lessons and free chat rooms
) How long have you been using ThinkOrSwim?
1 Year
2) What are your favorite features of ThinkOrSwim?
Free
3) What are some must-have deal breaker features in ThinkOrSwim that you could not do without?
Free
4) Do you use ThinkOrSwim in simulation mode only, or do you place live trades with it?
Simulator
5) Are you a discretionary trader or an algorithmic trader? How does ThinkOrSwim help you with this?
Discretionary
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?
Good and Fast
8) Do you believe ThinkOrSwim is competitively priced?
Yes
9) How do you rate the community support that exists for ThinkOrSwim?
Good and Fast
1) How long have you been using ThinkOrSwim?
About one year.
2) What are your favorite features of ThinkOrSwim?
I never used other trading system so I can't compare but I find it easy enough to use.
3) What are some must-have deal breaker features in ThinkOrSwim that you could not do without?
Free
4) Do you use ThinkOrSwim in simulation mode only, or do you place live trades with it?
I practice sims but I do have an account that I do live swing trades with.
5) Are you a discretionary trader or an algorithmic trader? How does ThinkOrSwim help you with this?
I guess discrettionary trader.
6) How easy/hard was it for you to learn to use ThinkOrSwim?
Medium..still learning.
7) How do you rate ThinkOrSwim's customer service/support, assuming you have needed to use it?
Good so far.
8) Do you believe ThinkOrSwim is competitively priced?
Yes
9) How do you rate the community support that exists for ThinkOrSwim?
Ok
1) How long have you been using ThinkOrSwim?
6 months
2) What are your favorite features of ThinkOrSwim?
The analyze tab for options
3) What are some must-have deal breaker features in ThinkOrSwim that you could not do without?
Again, the analyze tab. Far superior to any other broker for options. (tradestation is a close second)
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?
I only trade option spreads. No equities or futures
6) How easy/hard was it for you to learn to use ThinkOrSwim?
Very easy interface and tons of videos on the web for use and support.
7) How do you rate ThinkOrSwim's customer service/support, assuming you have needed to use it?
Top notch support when you need them.
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.
9) How do you rate the community support that exists for ThinkOrSwim?
Excellent. YouTube has an endless supply of how to videos on TOS. Also Tasty Trade has some very good videos.
Overall, I am somewhat satisfied with TD Ameritrade. TOS does has some limitations in so much as it is slow to load data at times. When you switch symbols in a chart, sometimes it takes 3-5 seconds to load. Also have noticed my fills are not as good as they are with Interactive Brokers. When I am trading I have both TOS (TD Ameritrade) and TWS (Interactive Brokers) open at the same time. I run 4 monitors so I can have them both open. I have placed the same trades in both platforms and always get filled faster with IB. Sometimes my fills are immediate with IB and I never get filled with TD. I am only talking about option spreads as that is all I trade in these 2 accounts. I have asked the customer support at TD why this is and have received varied responses. Although I am not aware the industry sells order flow in options, it sure acts that way to me with TD.
