ThinkOrSwim (TOS)

ThinkOrSwim, often abbreviated as TOS, is a comprehensive trading platform developed and offered by TD Ameritrade. Known for its robust features and advanced capabilities, ThinkOrSwim caters to both novice and experienced traders across various asset classes.

Key Features

1. Advanced Charting

• Multiple chart types (candlestick, bar, line, etc.)
• Over 400 technical indicators
• Custom indicator creation using thinkScript
• Drawing tools and pattern recognition
• Real-time streaming data
• Multi-monitor support

2. Trading Capabilities

• Stocks, ETFs, options, futures, forex, and cryptocurrency trading
• Complex options strategies and modeling
• Risk/reward analysis tools
• Real-time Greeks for options
• Customizable order entry interfaces
• Trailing stops and other advanced order types

3. Paper Trading

• Simulated trading environment
• Real-time data in paper trading accounts
• Ability to test strategies without financial risk

4. Market Scanning

• Stock and options scanners
• Custom scan creation
• Real-time alerts based on user-defined criteria

5. Options Analysis

• Probability analysis tools
• Profit/loss calculators
• Volatility skew analysis
• Option chains with real-time Greeks

6. Educational Resources

• Built-in tutorials and how-to videos
• Daily market commentary
• Live webcasts and demos
• Extensive knowledge base

7. Mobile Trading

• iOS and Android apps
• Synced watchlists and alerts across devices
• Full trading capabilities on mobile

8. thinkScript

• Proprietary scripting language for custom studies and strategies
• Ability to create custom indicators and scans
• Sharing capabilities within the TOS community

9. Risk Management

• Real-time position monitoring
• Customizable alerts for price movements and news
• Portfolio margin analysis
• Risk profile graphs for complex positions

10. News and Research

• Integrated news feeds
• Fundamental company data
• Earnings and dividend information
• Economic calendar

Platform Versions

1. Desktop Application: Full-featured trading platform for Windows and Mac
2. Web Platform: Browser-based version with most desktop features
3. Mobile Apps: iOS and Android applications for on-the-go trading

Asset Classes Supported

• Stocks
• Exchange-Traded Funds (ETFs)
• Options
• Futures
• Forex
• Cryptocurrencies (limited)

Unique Tools

1. OnDemand

• Historical market replay tool
• Allows traders to “rewind” the market and practice trading in past conditions

2. Risk/Reward Tool

• Visual representation of potential outcomes for trades
• Adjustable parameters for different market scenarios

3. thinkBack

• Historical options data analysis tool
• Helps in understanding past options pricing and behavior

4. Earnings Analysis

• Tools for analyzing earnings reports and their impact on stock prices
• Historical earnings data and reaction statistics

Data and Research

• Real-time, streaming market data
• Third-party research integration (Recognia, Market Edge, etc.)
• Social sentiment analysis
• Customizable news feeds

Pricing and Requirements

• Free to TD Ameritrade account holders
• No additional fees for platform use
• Minimum system requirements:
• Windows 10 or macOS 10.13 or higher
• 4GB RAM (8GB recommended)
• 1.5GB free disk space
• Internet connection (broadband recommended)

Target Audience

• Active traders
• Options traders
• Technical analysts
• Long-term investors seeking advanced tools
• Algorithmic traders (via thinkScript)

Integration and API

• API access for algorithmic trading (requires approval)
• Data export capabilities for further analysis
• Integration with TD Ameritrade accounts and services

Community and Support

• Active user forums
• 24/7 customer support
• Regular webinars and educational events
• In-platform chat support

Unique Selling Points

1. Comprehensive all-in-one platform
2. Advanced options analysis tools
3. No additional costs for real-time data or platform use
4. Powerful customization through thinkScript
5. Robust paper trading environment
6. Integration with TD Ameritrade’s extensive educational resources

ThinkOrSwim stands out for its combination of advanced features, ease of use, and integration with TD Ameritrade’s broader ecosystem. It’s particularly favored by options traders and those seeking a platform that can grow with their trading sophistication. The platform’s continuous updates and improvements, along with its strong community support, make it a top choice for many retail traders in the United States.