Thinkorswim: Is This The Best Forex Trading Platform For 2020?

Adding to a prospective traders training plan

To the Stock sub, yes I read the wiki, I have been increasingly more interested in the financial markets and learning how to trade. I've been reading a ton on a ton, sometimes it feels like there is so much information it can start to become overwhelming. Sometimes I don't know where to start, and sometimes I don't know where to stop. This is an immense project for anyone to start, and to the people who have 'made it'(everyone has their own definition of success' I have a tremendous amount of respect for you. It seems that, day trading, intraday trading etc. are minimized to, it's basically gambling and if you dump money in the stock market you're an idiot. I once did also subscribe to that ideology and now I realize I probably should have focused on that instead of partying with friends and making some bad decisions, but the wisest of men were once the greatest of fools said a smart guy one time, I think. Anyway just some background, I am in my early 20's and am assigned as an air traffic controller in a branch of the american military. I just developed a rough 'training plan' to get myself on the right track to being fiscally adept. The reason why I am posting is to search for some wisdom from the elders, someone that will take some time to just sift through a couple of my talking points to add or subtract some of my basic ideas, and basically just guide me in the right direction. It doesn't make much sense to go into these things blindly, especially with an area of study a whole career field is designed around. I want to develop a rough map / curriculum to follow for myself, and to try to measure any indicators (no pun intended) of progress. But I am just a beginner, so why not post this on reddit? If anyone has any tips, something to add, something to subtract, that's why this is here. I'll be around to answer any questions for the next hour or so, then I can pickup tomorrow. I'm hoping we as a community can come together with something to give to a beginner like me, with this being the beginning
LINK TO GOOGLE DOCS -- HAS MORE CORRECT FORMATTING https://docs.google.com/document/d/1YTf0MMvFWdrvFlz_k-ruDuMABjaJEeZ5Aed07xEnEMI/edit?usp=sharing
My motivation – 1. So I can give family, friends and myself a life without worry. So, we have more time to focus on building meaningful experiences and forming a strong relationship with each other. 2. If profitable enough, to donate to cancer research to hopefully one-day cure cancer, more specifically, malignant brain cancers. 3. To have financial freedom. 4. To build wealth for myself and future generations of my family, regardless if it is my own kin. 5. To challenge myself. How I am doing this? Adopting a mix of education, research and simulated training I hope that by the end of CY18 I can have a small account funded 1500-3000 for trading while also focusing on paying down debt.
Education and Research: Reading List 1. Security Analysis – a. To gain a fundamental basis to judge a stocks worth, it has great reviews and has been recommended on multiple different platforms as a must read, so I am must reading it b. This book will not relate to the trading strategy that will be adopted in the beginning to build greater wealth. However, I think this will become a staple of future trading strategies. This book is basically the polar opposite to speculative trading/investment which will comprise the trading the trading strategy used to develop the wealth needed to reach the 25k minimum needed to day trade. 2. Japanese candlestick charting techniques (JCCT)-- a. This book is allegedly a great source on learning candlestick patterns and learning technical analysis. b. The focus will be learning how to read charts quick and effectively, allowing me to draw reasonable and insightful conclusions on the potential movement on stock based on its price-action 3. Will add more to the list after I finish these, but as of now I have determined learning a mix between fundamental & technical analysis will keep me well rounded so I don’t tunnel vision one way of trading. The aim is to remain well rounded and not to rely on one skill too much.
Online resources – 1. Youtube a. Ricky Gutierrez – stocks b. Timothy Sykes – stocks c. The Duomo initiative – Forex d. Numerous other youtube sources 2. Babypips – Forex 3. Lehman Brothers “Foreign Exchange Training Manual” (Dekstop) 4. Reddit? 5. Will add more as they come Simulation— 1. Tradingview.com a. Good charts, great indicators, free ‘real-time’ data and awesome charting features available as well as an easy to use papertrading, seems like a good resource for FOREX/STOCKS b. 2. TD Ameritrades ThinkOrSwim (TOS) a. 60 day Demo account that I called and got real-time data, the closest thing to a real deal trading platform I can get my hands. Will probably keep trying to learn this and use it as my basis for learning how to execute trades in the FOREX and Equity Markets. b. When the demo account runs out, make a new one, call and get live data set to the account again 3. The criteria used for the trading software a. Don’t make a lot of trades, I want to focus on only taking trades based on as much calculated risk as I can possibly calculate b. Trade around the pattern day trader rule, as when it’s time to go live I want to be used to it. What this means for me, is only take 1 or 2 trades a week, and making them meaningful. c. Try to learn something from every trade I make, failure or success I want to know if it’s pure luck or calculated risk. i. IF it’s a failure, I want to analyze why it happened to the best of my ability. ii. If it’s a success, I want to analyze how it happened and try to really solidify the knowledge. d. Try to imagine the money in the paper trading account is as real as the money in my pocket. e. Don’t rush or force trades, wait for a good “set-up” or situation. Stick to my technical analysis tools/skills and adapt to changing situations based on news releases.
Training— 1. Read at least 30 minutes each day of either Security Analysis or JCCT 2. Use youtube, babypips, reddit or some other online resource to learn SOMETHING that day. I don’t care if I am rereading the Relative Strength Indicator equation, I will do some form of online research and make it meaningful or impactful in some way. 3. Using a simulation platform, most likely TOS, develop a strategy for taking trades during the week. Live by the criteria I set for myself. a. Use each blown up paper account as lesson. b. Stay focused and don’t get emotional c. Rome wasn’t built in a day. d. Go live when I win more than I lose, and am green for 4 months. 4. Don’t forget who I’m doing this for and why. To-Do list – 1. Compile a list of terms, phrases, vocabulary and indicators to define/research and call it homework 2. Find or develop a good trading journal that is designed around a specific strategy, and before I enter into any trade I can fill it in this journal and if it meets criteria it’s time to buy. 3. Make myself some form of “homework” at-least once a week and learn from it. 4. If everything works out remain humble and try to help others succeed also. Summary – The goal is through a mix of, foundational reading (Security Analysis, JCCT and others), online resources, and simulated trading I can go from someone with very low to almost no knowledge of financial markets to a profitable and successful trader in the next 6-24 months. Using realistic and measurable goals to gauge progress (how many books have I read since I set the curriculum? How am I doing papertrading? Am I staying focused? Am I too focused?) as well as always constantly reforming and changing the training plan to grow with me I think this is possible.
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The Forex Trader is a thinkorswim interface optimized specifically for forex trading. Watch the tutorial below to learn how to read your forex account info, customize the trading grid and link … 500 People Used View all course ›› Visit Site TD Thinkorswim Tutorial 2020 (Thinkorswim Day Trading Set ... Now www.youtube.com · Get my FREE Trading Journal + Weekly Stock Picks: https://bit.ly ... The working area of the thinkorswim platform can be divided into two parts: the left sidebar and the main window. ... Forex accounts are not available to residents of Ohio or Arizona. Access to real-time market data is conditioned on acceptance of the exchange agreements. Professional access differs and subscription fees may apply. For details, see our Professional Rates & Fees. Supporting ... The thinkorswim Learning Center is a place to find tutorials and how-tos on everything thinkorswim. Watch some of the videos, read thinkMoney magazine, download the whole manual. Here is everything that needed to get comfortable with thinkorswim, the trading platform. The Forex Trader is a thinkorswim interface optimized specifically for forex trading. Watch the tutorial below to learn how to read your forex account info, customize the trading grid and link gadgets to its elements. Active Trader Ladder The Active Trader Ladder is a real-time data table that displays bid, ask, and volume data for the current symbol based on a price breakdown. By default, the ... Thinkorswim has over 100 commission-free ETFs, over 13,000 mutual funds, over 100 forex currency pairs, options, and futures on a variety of products; indices, metals, cereals, energy, and other commodities at its clients' disposal. Thinkorswim is a leading platform when it comes to currency pair availability. Considering trading forex on Thinkorswim, but not sure yet if you want to take the plunge? In this article, we will teach you everything you need to know about this platform, so you can decide if it is the right fit for you. History of The Thinkorswim Platform. One of the reasons to choose Thinkorswim is the platform’s reputation. The history of Thinkorswim dates all the way back to 1999 ... With a TD Ameritrade account, you’ll have access to thinkorswim, a powerful trading platform where you can trade forex, as well as other investments. This feature-packed trading platform lets you monitor the forex markets, plan your strategy, and implement it in one convenient, easy-to-use, and integrated place. One of the unique features of thinkorswim is custom forex pairing.

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ThinkorSwim Tutorial: Options Trading - YouTube

How to Use TD Ameritrade ThinkorSwim: Basic Overview Tutorial for Beginners In this tutorial, we are going to cover the basics of the ThinkOrSwim Platform to... 🎁Get my FREE Trading Journal + Weekly Stock Picks: https://bit.ly/2WIm5rJ 🔽Time stamps: 1:05 TOS Chart Settings 3:29 Thinkorswim indicator set up 6:22 Intrad... Please follow me on instagram: @investitrade Visit my website: https://www.investitrade.net/ Link to Active Trader Video: https://youtu.be/6jjNGbmbqNo If you... ThinkorSwim is a great platform to use when you are first starting out learning to day trade! In this video, I start with a blank platform and show you how t... Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.... In this video I explain how to automate your trading system using Thinkorswim. This is a very rare approach to automated trading and is extremely helpful. Th... I created a complete trading course that walks you through a whole trading strategy. A-Z ! Check it out here: http://bit.ly/MasterTheSqueezeWant to set your cha...

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