Personally, I cannot imagine trading on the NYSE without the TD Ameritrade Thinkorswim trading platform. The TOS platform is also suitable for those who trade futures, options, currency pairs, ETFs on FOREX. First of all, Thinkorswim opened up for me the possibilities of highly accurate analysis, and subsequently, I was able to improve the quality of my transactions by 3 times.
Here you can find everything for testing trading strategies and intraday trading: scanners, stock filters, charts, indicators, dynamic lists, the ability to add your own scripts, the powerful OnDemand function (analysis on historical data) and the most important thing…
The Previous Day Close Line indicator in the TOS account is often used by intraday traders. One of the strongest intraday indicators for a stock is when the stock turns red during the day. This means that it crosses the previous close in a downward movement and is a signal for many traders to close long positions or open short positions. Such actions usually push stocks down.
The opposite signal is another excellent intraday indicator on the TOS trading platform when the stock is trading lower than the day before and suddenly crosses the previous close to become green on…
One of the guys in the chat responded to my post “Simplification = destructive? ♻️On the way of optimization and simplification”
📝Comment about the following: you need to throw out all the unnecessary from the trading strategy and leave only the minimum to get the desired result. Especially on the courses, so much slag is poured in that it is difficult for a beginner to understand anything at all …
I will say more, I agree with this comment, but there is one trap here … you need to understand when you can simplify and throw out unnecessary things. …
“It’s crazy to do the same thing over and over again, but expect a different result each time.”
Albert Einstein. © ️
Why am I using this quote? Because trading is in fact an unnatural activity for a person. We are not physiologically adapted for trading, which is why it is so difficult for us.
Engaging in intraday trading, observing the rules and performing the same actions * under the same conditions, the trader gets different results every time: either a plus, or a minus, or a profit, or a loss, or in general the deal does not go anywhere.
Friends, we decided to share our useful content about the psychology of trading, indicators, scanners, the ThinkOrSwim trading platform on «Medium», because we understand that it is more convenient for you to read here. The original article in our blog.
Let’s move on to setting up a premarket scanner in the Thinkorswim platform. Go to the “Scan” tab. In the upper right corner, click on the list icon “Show scan query menu” — “Load scan query”, select “Personal”. Here we have a list of scanners that we use in TOS. The scanners I often use are the Low Float Scanner…
To put it simply, technical analysis is predicting future price changes based on its previous fluctuations, which are reflected graphically in your trading platform. For example, I use the ThinkOrSwim (TOS) platform for technical analysis.
There are many trading strategies using technical analysis indicators and using several instruments at the same time. Such strategies involve a mathematical approach to trading on the stock exchange and are very popular in the classic stock market.
All indicators can be roughly divided into 5 groups.
All traders, especially those who use technical analysis in their trading, understand that trends play an important role in choosing a trade and making a profit. And for good reason, because prices are constantly changing. Sometimes very quickly and traders need to catch these changing prices, hoping to outlast them, whether they are short-term or long-term.
Trend detection is so popular that there are many trend-related statements such as:
Analysis Indicator Relative Strength Index (RSI). This indicator was written back in 1978 by trader J. Welles Wilder and won the glory of an accurate oscillator with simple calculation and trading signals that you must be able to recognize.
Using the Thinkorswim RSA indicator in the TOS trading platform, you can determine the strength of the trend and predict how likely a trend change is. The rate of price change is shown on the scale with the highest value of 100 and the lowest 0. …
👇 Now let’s move on to basic trading competencies.
🔸Determination of levels
🔸Work in the terminal (opening, closing a position, types of orders)
🔸Work in the graphical analysis platform
🔸The skill of stock selection before the session
🔸The skill of choosing stocks during the session
🔸Price action analysis
🔸Quickly calculate (for example, the risk per trade)
🔸 Think fast
🔸The skill of removing stocks from the list
🔸Entry Skill at Your Price
🔸The skill of following a trading plan
🔸Belief in your strategy
🔸The skill of trading only “your” patterns
🔸The skill to continue or interrupt trading
🔸Trade in the right state of mind
🔸Quietly skip your entrance
🔸End a positive day in a resource…