Once inside, you’ll find some good trading resources, not least of which is very advanced charting. For the simulated side of things, obviously you want to choose paperMoney. At login, you’ll see two choices: Live Trading and paperMoney®. Thinkorswim also makes an appearance as a mobile app. The Education tab replicates the learning center that appears on TD Ameritrade’s website.
THINKORSWIM PAPER MONEY HOW TO
There are resources on how to use technical analysis (there are many indicators in thinkorswim’s charting program), how to trade forex and futures, how to submit an options order, how to scan for potential trades, and much more. Learning Center contains tutorials, quick guides, and references for all sorts of functions on thinkorswim. Here, you’ll find two sub-tabs: Learning Center and Education. Believe it or not, it’s found underneath the “Education” tab that appears in the top menu. Too bad you can’t do that in a live account.Ī recent addition to thinkorswim is an educational section. Just select “Adjust cash.” and enter any value up to $10 million. Open the same menu and select “Adjust position.” Or you can add to or subtract from your account balance. It’s also possible to adjust the share price of a holding and the quantity held. Then, right-click on any open position and select “Reset all positions.” If you want to exit all positions you have created and reset your account balance to $100,000, just click on the “Monitor” tab in the top menu and select “Activity and Positions” in the sub-menu. Nothing bad will happen if you just leave it there. Practicing these is an absolute must before using them in real trades.Īfter you place a trade in simulated mode, you can either leave it there or close it out by placing the opposite trade. The order ticket offers many advanced order types, including OCO (order cancels other), trailing, stop, pair, and blast all. Unfortunately, mutual funds and bonds can’t be traded on thinkorswim, which means they’re not available for paper trading. You can submit orders for stocks, ETF’s, closed-end funds, option contracts, currencies, and futures. The trade ticket by itself is rather complicated so be sure to practice with several trades. So go ahead, make it a good $100,000 if you wish. Once again, a brown label will appear reminding you that you’re about to place a simulated trade. It will appear in the bottom-right corner. Whether you select a buy or sell order, a trade ticket will be generated. Just click on a chart with a right-click of the mouse to get the trade menu. In either case, right-click trading is enabled. Alternatively, there may be one already displayed in the left-hand column. Just click on the “Charts” tab in the top menu to get a graph. A good place to start is in the charting section.
THINKORSWIM PAPER MONEY SOFTWARE
Thinkorswim is a rather complex software program, so there are lots of tools to play with and learn. That’s another sign you’re on a simulator. You should have $200,000 worth of buying power. Underneath this section, you’ll also see balance information. If this happens, you have to log out to get back to the login screen. If it’s green, you’re inside a live account. This will be represented by a brown tab at the top of the platform that reads “SIMULATED TRADING.” That’s a pretty good sign you’re in demo mode. Once inside you’ll want to check and make sure that you’re indeed in simulated mode. This second option the broker calls “Paper Money.” Make sure you select this option if you have an existing account otherwise, you’ll be trading with real money. At the login screen, you’ll be presented with two options: live trading and a simulated mode. Once you have the software downloaded, it’s time to get inside and start trading. $0 commissions + transfer fee reimbursement. There’s no obligation, no account fees, and you don’t need to deposit any money.
THINKORSWIM PAPER MONEY DOWNLOAD
To download thinkorswim without an account,Īnd register for a demo account. The broker’s flagship software and practice. Possibly the best part of paper trading at TD Ameritrade is that you don’t have to be a customer to download Click on “Trade” in the top menu and then select thinkorswim under the heading “Trading Platforms.” If you already have one, then you simply need to log in and download thinkorswim. The first thing you need to do to start paper trading at TD Ameritrade is There is no charge to use the broker’s simulated trading tools. thinkorswim, which is available as a desktop program and a mobile app, has a demo mode where a fake currency can be used to place mock trades. If you’re a TD Ameritrade customer, or just thinking about opening an account with the broker-dealer, there are methods to practice trading before committing real money. Overview of Paper Trading at TD Ameritrade Demo TD Ameritrade thinkorswim platform virtual money simulation to practice trading stocks, options, and futures. TD Ameritrade Paper Trade Practice Account (2022)