Active Trader Tutorial for Beginners | ThinkorSwim (Best tool for day trading and scalping)
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- Опубліковано 24 лют 2021
- The active trader tool on ThinkorSwim is mainly used by Day Traders and scalpers. It's by far the quickest way to trade in and out of stock and futures.
In this video we cover every aspect of the Active Trader ladder and the many ways to place a trade through the tool. You have the ability to create market orders, limits, stops, and trailing stop orders with a single click of the mouse.
You also have the ability to create bracket orders, OCO orders, by customizing the template within the active trader. It's an incredibly powerful tool that allows you to quickly trade stock, options, or futures.
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If you find this helpful please hit that like button! Also, subscribe to the channel if you'd like to keep updated on my future videos. I'll soon be diving deep into my personal portfolio of ETFs, Stock, and Options!
Helpful is an understatement. This was absolutely life-changing! Liked and subscribed.
@@trader_joan Thank you so much!
It is a pain in the ass that the captions are only in Vietnamese and cannot be changed.
@@TheJohngrif I'm sorry about that. I'm not able to fix it for this video in particular. For some reason the auto caption system isn't able to understand what I'm saying. The only language it detects me speaking is Vietnamese for some reason. Really odd.
Quick question. Being new to TOS AT there are times when I enter with a first trigger OCO order (entry stop and target orders) well once I’m in a position and click FLATTEN. Sometimes it only closes my open orders and doesn’t X out of my stop and target. Is there a way to flatten everything in one click? Without having to manually close stop and target? How would I go about this for a non scaled out exit. I mean exit at once..
I watch several UA-cam videos on how to trade in the stock market but haven't made any head start because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands
@WilliamEthan00 What is the name of your broker and how do i connect with him or her ?
@AustinWalker67 Wow that was easy, i found her website and left a message for her . i hope she reply me. thanks.
@@Amelia-Elizabeth Bridget Mary Turow her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy
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Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.
@IsabellaMoore-kn5sd Very true, If you're looking for help
building a retirement nest egg, you most likely want a certified financial planner with expertise in retirement planning. With the aid of a coach, I grew my reserve from $160k to almost $600k during this Red season.
@IsabellaMoore-kn5sd KRISTIN GAIL CUNNINGHAM. On the internet, that’s the financial advisor I use. She’s verified; you could also read more about her and then communicate with her. it’s always good to do your research before putting your money into any investment.
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The appreciation of your videos cannot be overstated.
love this. clear and straight to the point.
Thanks for covering this topic. Very informative and down to the point. Hope to see more of your videos soon. Cheers.
Great info! Very detailed but straight to the point.
Always great easy to follow videos, thanks.
Awesome video! Please continue expanding on the Active Trader features.. And thank you for teaching us how to fish!
this is the best quick order style i just learned so far. this was an amazing piece of video. you rock!!!!!
Straight up - Awesome!
Another excellent, easily understood video - For a newbie in the market this is the type of information that I need - thank you
Setting up the templates on active trader was really helpful, thanks
You are a great teacher! Straight to the point and easy to understand! Thank you!
Agreed! Thank you for the vid! Cleared some things up for me!
Great tutorial, appreciate you making the video.
your lesson are easy to understating, great teacher Thank you
great video again!! really appreciate👍
SO HELPFUL.
you have the best tutorials on the web for TOS. A bonus is your speaking voice.
Thanks, very good video and good information!!!
Great video. Very helpful and well explained. Thank you!
Thank you!
Thank you so much, that was very helpful.
Very good primer. thank you
Super good overview, great job
Amazing video wow!!! Thank You
So helpful. Thank you again. Please continue posting . All your videos are very informative, and extremely helpful to all beginners like me. Learned so much about bracket orders, knowing how to use them really gives you more control over your trades.
Thank you! Let me know if there's anything specific you'd like me to cover!
Wonderful video, good learning
Thank you
GREAT STUFF!
Watched this again and wish I could give it another thumbs up for the value I got this time also!
I liked and Subscribed. This was an excellent explanation of a lot of this stuff. The bracketed information was Greek to me. it is just a little surprising to see how truly automated this can get but it's really cool. Why they lock out the top buy and sell buttons is a mystery. It probably limits confusion. Before your video I was scared to order. (I have out of desire) Now these order buttons are a whole lot less intimidating. You gotta watch a video like this five times. Somebody smart would do that. You covered everything so quickly. Your just a litlte bit amazing. Thanks again for the great video.
Great video!!! Thank you 🤙🏿 ALOHA
Very good video. Thanks
great job for the video, thx buddy
fantastic thanks
Great job here! Thank you.
Thank you!
Great Vid!
Thank you!
This was helpful!
I'm an options trader so won't be using active trader, but I still found your video very clear and helpful for concepts such as templates and OCO orders in general. Would love to see more tutorials aimed at options traders like myself also. Thanks!
Outstanding
This is a great video, thank you.
Glad it helped!
Thanks for the video!
Glad you liked it!
thank you great video, well explained
Thank you!!
Very helpful
Thanks!
Helpful vid thx
yo, this was really helpful, man. I appreciate.
Glad it helped!
Liked & subscribed -- very helpful series as I'm making the switch from ATP to ToS.
Glad you liked it!
thank you
Thanks! you have excellent telant in teach! expect to see you more videos
Thank you!
New to trading on TOS, loved it, very well explained, thanks. Can you please give an example for OCO too, thanks
Hi! Bro! Thanks a lot for your video it really helped me a lot.
Thank you!
This is actually a great setup to scalp options too!
I agree. I was wondering why he said its not good for options. Maybe i missed something.
Very good video. Thx Thx Thx!!!
Glad you liked it!
thanks a lot bro great video this help me out a lot have another question can you make a video on order conformation dialog brake down
Absolutely superb! Thanks much Brother! Most Prosperous Blessings to you and your family! 🙏 💪 🚀 ✨ 🏦
Thank you, same to you!
@@shortthestrike Thank ya mucho! 🙏🙌🕺
Nice one
Your videos are excellent
Hope they help!
It really really helps
just switched to TOS and was struggling with confusion (lots of great stuff, but how did I get there again? lol). This REALLY helped, thank you so much. LIKED and subscribed
Thank you, glad it helped!
This was great! Do you have a tutorial like this for options on active trader? Why don't you recommend it for options? What would you recommend for fast trading to avoid toggling between screens...
OH! That's how it works.
can you make a video for a newbie who is just starting, on Think or Swim, how to set up the platform for day trading and also how to find small-cap stocks
@ shortthestrike Why dont you recommend the trg w 2 brackets for option trading? Is the 1 bracket not suggested as well? sidenote thanks for the videos. very useful.
Nice to see an HD video on this. Would have been nice to see it in action. I've been playing with it in a TOS paper account a couple days and couldn't figure out why my orders were getting messed up. Turns out if you have less than $500 real money in your account you are stuck with 20min delayed data in the paper account. I'd be fine with that if it didn't treat your trades as if you were trading current time while showing a 20min delay on charts and ladder. It's weird, you'd think it would be insync for practice and learning. Example. ES trading at 4000 on the chart, click buy at 4000. TOS counts me going long at 4020 because that's where the live market is really at and left that 4000 mark 20 minutes ago. It was the same for stops and exits. That was fun trying to figure out why I was getting stopped out when the market was 10-15 points away
dude, this is exactly my problem rn, i was confused at what the hell was going on. Also, do you know or does @shortthestrike know, is every buy order and every sell order come with a commission? or if I buy +1 and sell +1 (or +20 and -20) is that one set commission? say one $22.50? or does it hit you twice, once for buying once for selling, so $45?
Hi all. I'd like to switch off Fidelity/ATP and to something similar. Looking for more short opportunities, ease of use (trade station is too complicated for me) and a fresh start away from Fidelity. Any advice is appreciated!
Thank you. Mine for stocks does not show the floppy disk. Has it been moved ? 7:55
Is there a way to close the time & sales and level2 quotes?
Hey great video! How do we know if we are under a call or a put order when using auto trader?
@KATHIMORGAN is her user name for help
@@johnsonbenson5779 oh I’m way past that lol.
Using a disclaimer that u are not a Tax Advisor, could u briefly discuss if u are using trader status with IRS to void the wash sale rule. If yes, Was it a complicated process?
Exemplary clarity and brevity in this tutorial, thank you. But you off-handedly mentioned something toward the end without explaining why. You mentioned the bracket order template is ideal for futures and stocks but NOT options. Why wouldn't it be just as useful for SPY?
at 7.52 timeline I saw you select stop loss and profit booked in extended time. I used Webull and it never supports this aftermarket and premarket. my question is think and swim execute this type of order in pre and after-market as you show me in your video?. or which stock post broker software allow to execute this type of order in pre and after market ,
Great question! Unfortunately, no you won't be able to use the stops in the after hours. This is an exchange level rule, so you should be able to use it at any brokerage. This would also stop you from using "ext" as a part of the bracket order. Hope this helps!
Thanks for the video. I notice that when stop orders are created by right clicking the instrument from the Monitor tab, they do not appear on the price ladder and cannot be easily adjusted by sliding the arrow on the chart. I thought that one important aspect of a stop price is that the market cannot "see" it. Are the stop orders created in Active Trader actually "Stop" orders, or are they actually limit orders that other traders can see on the ladder?
No one other than the broker themselves can see your stop. They are held by your broker waiting to be activated then sent to market. That's for both those orders placed from the monitor page or from active. Not sure why you're not able to adjust them, sounds like more of glitch in the system
@@shortthestrike OK, thanks.
when you explained the reverse button as in short 20 shares? that means it turns into a short as in gaining when price drops im confused? new here sorry.
@KATHIMORGAN is her user name for help
If scalping options, what's the quickest way to do an "emergency exit" other than a market order?
The spread between the Bid & Ask. Chase the bid or at the bid if you have contracts filled already
So does the flatten button sell the shares your holding?
Yes, it will close your entire position with a market order and cancel any working orders
Does anyone else have this problem with AT? I set it up just the way I like it, and as soon as I switch screens or close it for a minute, it resets. For example, I add TIF to my second line, and then it's gone when I come back.
@shortthestrike Can you please shed some light: when I place a market order on the PM (simulated) trading, say the market price is at 14320.50, and i say buy +1 at market, once i hit send, it literally changes the price i wanted to buy at by sometimes +/- 4 or 5$. Is this because the data is delayed and it doesn't know what its doing? or am I missing something here. buy at market means buy at market, why is the price different? also when i want to sell my position, ill hit sell market, and it literally sells at some random ass price that is not market
since priceschange constantl.y market order can be up or down. if you want to buy at a specific price you need limit order. is that helpful?
Is there a way to make a custom Template as the default template for every trade? Instead of selecting it everytime
If you go to Setup > Application Settings > Active Trader. Then you'll uncheck the button that says "Reset AT Order template after sending." This won't set it as the default, but it will stop it from resetting to single after after trade. That's about as close as you'll be able to get to setting a default.
Hope that helps!
Can I use the active trader tab to put stops on option orders?
yes you can. I do it all the time.
When you say boy how do you know if your buying a call or put?
@KATHIMORGAN is her user name for help
with the TRG bracket.. does one fill cancel the other?
Yep! The bracket could also be called an OCO bracket, or one-cancels-other
@@shortthestrike Is this to place a stop loss? I am used to trading with a broker and writing what I want. Now I want full control of my trades but do not want to make a mistake because they cost $. Your videos are clear and concise which is why I am asking.
But I thought that as soon as you select the buy market button for lets say100 shares, it executes immediately, even without auto send selected. So in essence the cancel button is no longer useful at that point. Otherwise I am lost right from the start. I did not see were you selected a strike price for the stock.
Auto send just removes the confirmation box. If you don’t have it selected and hit “buy market” a little box will pop asking if you’re sure you want to place the trade. If you do, you hit send. Then it will fill immediately at whatever the current price is.
If you have auto send selected the market order would immediately be sent rather than getting a confirmation box. Once the order is placed the cancel button won’t apply. Cancel would be used to cancel limit order, stop orders, or bracket orders.
With autosend unchecked, how do you place the buy/sell orders you set up?
@KATHIMORGAN is her user name for help
@@johnsonbenson5779 Thank you
@@dionysus2006 You are welcome. Could you been able to reach her
@@dionysus2006 Are you in contact with her now
I am just beginning to study options trading. I am curious why you wouldn't recommend this method for options?
It’s fine for people day trading options, but for most people it makes more sense to do it directly from the option chain. I did make a separate video on this specifically for options and some ways to customize it for thay
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Why don’t you recommend scalping options?
So the "flatten" button cancels your order? I entered a trade into Active Trader from the Buy button, but then I could not find out anywhere how to close my position once I reached my profit! It should be more intuitive.
Flatten would close you out of your position and cancel any working orders. If you wanted to just cancel the order you would hit “cancel” or click the little “x” next to the order on the chart or in the ladder. Hope that helps!
@@shortthestrike Thank you. The Cancel button was shaded and not available for some reason. I'll try the flatten button. I didn't see any X on the chart. First time placing an order on TOS.
@@backtoasimplelife Did you have an order out to buy or sell something? Or were you just holding a position?
@@shortthestrike I had placed an order and it was active.
@@backtoasimplelife I'm really not sure, if you had a position and had an order out, the flatten and cancel button should have been available. Cancel would have just cancelled the working order, whereas flatten would cancel the order and close the position.
It is a pain in the ass that the captions are only in Vietnamese and cannot be changed.
That’s so odd. I’ll get that figured out. No clue why the captions are Vietnamese
Great video. I make huge profits on my investment since i started trading with a professional broker Mrs Kathi Morgan, her trading strategy are top notch coupled with the little commission she charges on her trade. Thanks so much ma'am♥
Thank you for the level-headed financial advice. I started my investment with $8,500 in just a week of trading with her I’ve gotten profits of $19,750 in my portfolio. Thank you Ma'am
Wow! Pretty good please how can i reach this Mrs Kathi Morgan everybody is talking about? I want to invest i'm from Canada
@KATHIMORGAN is her user name for help
Ever since i started trading with Mrs Kathi with the consistent weekly profits i'm getting there's no doubt she's the best. such a genius I have been withdrawing my profits thanks for your great work and God bless you more..from Slovenia
@@johnsonbenson5779 Thank you Sir, i just started my trade with her.
Too Fast. Don't understand a thing.
Trust me, don't put your money on TD. You won't get it back
You speak to fast .
you talk too fast not for beginners
Go to settings and slow the video I do it all the time when I'm watching faster videos and need to learn