USER COMPANION FOR
`
`thinkorswim
`
`TRADING TECH EXHIBIT 2206
`TD Ameritrade v. Trading Technologies
`CBM2014-00133
`
`Page 1 of 66
`
`

`

`INTRODUCTION
`
`We’ll be making
`frequent updates to
`thinkManual as we
`add new bells and
`whistles to thinkor-
`swim. We welcome
`your feedback as to
`how we can make
`this resource even
`better. Please for-
`ward your comments
`to thinkorswim@
`tdameritrade.com.
`
`PLEASE NOTE:
`All screen shots
`and examples
`shown are for
`illustrative
`purposes only.
`
`page 2
`
`trading strategy or becoming a
`more informed investor, consider
`Investools®, a fee-based educa-
`tion affiliate of TD Ameritrade,
`that offers in-depth trading and
`investing training designed to
`help you pursue your bigger-
`picture financial goals. Aside
`from strategy education and the
`fundamentals of trading stocks,
`options, futures, and forex,
`Investools education content
`includes integrated platform
`education from TD Ameritrade
`instructors as well. Cool.
`
`P.S. (MAC USERS)
`Okay, so here’s the deal. There
`are two worlds we live in—
`Mac and PC. And Mac users’
`good taste aside, we have no
`prejudices. Now most of the
`functionality of the thinkorswim
`software is the same for both
`versions. However, every once in
`a while, we needed to program
`an extra click here, a click there
`to get around certain hurdles in
`the Mac coding.
`
`One such case is wherever
`right-clicking is called for. If you
`don’t have a mouse with right-
`click functionality, simply, hold
`the Command key while clicking
`on the software. If that doesn’t
`work, try holding either the Con-
`trol or Shift key while clicking.
`Track pads may use two-finger
`tap. If none of these work, you’ll
`have to take it up with your
`wallet and just get a mouse with
`right-click functionality.
`
`Happy trading!
`TD Ameritrade
`
`Trading platforms. Good luck trying to trade without them.
`We know that if you could, you’d probably have your orders
`executed with the snap of your fingers or a Jedi mind trick.
`But since you can’t, you ought to be using the next best
`thing—smart technology. The kind that doesn’t require you
`to go outside the platform for the tools and information
`you need to conceptualize, research, place, and manage a
`trade—whether stocks, options, futures, or forex.
`
`r
`
`THE TOKEN
`INTRODUCTION
`
`Our answer, thinkorswim.
`It’s smart. It’s fast. And it’s fun.
`(Seriously, it really is.) But we un-
`derstand that to the new eye, it
`strangely resembles the cockpit
`of an airplane, possibly rendering
`you confused at times and ask-
`ing the question, “Huh?”
`
`ENTER: THINKMANUAL
`Going forward, think of this
`reference as your life coach for
`all things thinkorswim. Hope-
`fully, it will make your trading life
`easier before, during, and after
`your learning curve. If noth-
`ing else, when you get stuck or
`frustrated, it will prevent the
`paroxysm of rage and ritualistic
`pillow-screaming that would
`surely ensue without it.
`
`But thinkManual isn’t
`perfect. We can’t possibly
`cover everything. New tools and
`gadgets are being added to the
`
`platform all the time. And like
`the software, this manual is a
`work in progress. Our ambition
`here is to dish the skinny on
`the most important features
`of the platform, so you feel
`more comfortable trading with
`thinkorswim.
`
`That said, when thinkManual
`does fall short on advice, try the
`following resources:
`
`b The Help Page in the trading
`platform is super convenient.
`There you’ll find all kinds of video
`walkthroughs and webinars on
`the features of the platform itself.
`
`b The Chat Rooms, also in thin-
`korswim, are not just for market
`narcissists and thinkorswim
`fanatics. You can pick the brains
`of your fellow traders or attend
`education events that run inside
`the chat rooms as well. If you
`miss one of those, check out an
`archived presentation on the
`Seminars tab.
`
`b Finally, there’s Live Customer
`Support. For the price of a smile,
`the “Trading Desk” is always
`eager to help you.
`
`
`As an aside, if the help you
`really need is less about using
`the platform, and more about
`
`think
`Manual
`
`thinkManual
`
`Page 2 of 66
`
`

`

`94
`
`43
`
`62
`
`2
`
`THINKMANUAL
`
`PART I
`Learning to
`Swim
`
`PART II
`How to Navigate
`and Research
`
`PART III
`How to Trade
`and Watch
`
`PART IV
`Paper
`Trading
`
`Trading redefined.
`
`44/Monitor Page:
`How’s My Trade
`Doing?
`48/Trade Page: It’s
`Why We’re Here
`
`Real trading. Fake
`money.
`
`63/thinkOnDemand
`64/paperMoney
`
`A quick-Start guide
`to trading calls and
`puts without all the
`calories.
`
`5/How To Buy an Op-
`tion in Five Steps
`7/How To Sell an Op-
`tion in Four Steps
`
`All the bells and
`whistles you could
`want.
`
`BEFORE
`YOU BEGIN
`10/The “Pages”
`11/Little Blue Dots &
`Wrench Thingies
`
`DUE DILIGENCE,
`MEET FUN
`13/The Left Side-
`bar: Gateway to the
`Universe
`18/Analyze Page:
`Stress-test Without
`the Worry
`22/Scan Page: What
`Stock Should I Trade?
`25/MarketWatch
`Page: What’s Movin’
`Today?
`30/Charts Page:
`Sweet, Sweet Pictures
`39/Tools Page: Tweet.
`Watch. Learn.
`42/Help Page: When
`thinkManual Just
`Isn’t Enough
`
`what are these?
`Every so often, we’ll
`point out something
`extra special—
`perhaps a piece of
`trivia, a unique way
`of using the software,
`industry jargon, or next
`steps that
`TD Ameritrade can help
`you with—which we’ll
`draw attention to with
`one of the following
`little dudes. Be sure to
`watch for them!
`
`DID YOU
`KNOW?
`
`BRIGHT
`IDEA
`
`TRADER-
`SPEAK
`
`TAKE
`ACTION
`
`page 3
`
`WHAT YOU’LL
`FIND IN
`THINKMANUAL
`
`Introducing
`thinkManual
`
`It’s more than a
`manual. It’s your new
`best friend.
`
` Contact Info
`You Could Use
`CLIENT SERVICES REPRESENTATIVE
`800-669-3900
`NEW ACCOUNTS
`800-454-9272
`
`contents
`
`thinkorswim Support
`DEDICATED SUPPORT DESK
`800-672-2098
`thinkorswim@tdameritrade.com
`PLATFORM FEEDBACK
`thinkorswimfeedback@tdameritrade.com
`TECH SUPPORT
`thinkorswimtechsupport@tdameritrade.com
`
`For all other inquiries: please visit
`tdameritrade.com/contact
`
`General Mailing Address
`PO Box 2209
`Omaha, NE 68103
`
`thinkManual
`
`Page 3 of 66
`
`

`

`PART I
`
`Learning
` to Swim
`
`thinkManual
`
`page 4
`
`Page 4 of 66
`
`

`

`Step 1: Log in
`
`To get to the login screen, fire up your thinkorswim software by
`double-clicking the desktop icon (or find it in your computer’s applica-
`tions folder). At the login screen:
`
`1—Choose Live Trading.
`2—Enter your username and password.
`3—Click OK.
`
`How to
`Buy an
`Option
`in Five
`Steps
`
`1.
`“Live
`Trading”
`
`2.
` enter user
`name &
`password
`
`change
`color &
`font size
`
`3.
`click on
`OK
`
`R Can’t Read It? If you want to change the font size or background color of the
`software, click Configure, and adjust until your eyes say ‘Thank you.’
`
`LEARNING TO SWIM
`
`wim
`learning to
`
` s
`
`I
`
`QUICK-
`START
`GUIDE
`
`So you’ve opened
`up the box, worked
`through all the foam
`peanuts, and taken out
`the thinkorswim trad-
`ing platform. That is,
`you’ve downloaded the
`thinkorswim software,
`and you’re ready to
`rumble. Perhaps you
`have no desire to read
`this manual and learn
`all about what’s under
`the hood of thinkor-
`swim. You’d rather just
`dive right in and trade
`some calls. Great.
`
`Here’s how to buy and
`sell an option in just a
`few quick steps.
`
`thinkManual
`
`page 5
`
`Page 5 of 66
`
`

`

`Step 3: Enter a buy order
`
`1—Click the Trade tab in the top menu.
`2—Type in the symbol in the box in the upper left.
`3—Pick the expiration cycle (in this case, July) and left-click the cor-
`responding blue arrow until it faces down.
`4—Click on the ask price of the option you want to buy (or right click to
`access other strategies). That will open up the ORDER ENTRY TOOLS
`screen, with the information on the trade already populated.
`
`1.
`click on
`trade tab
`
`2.
`enter
`symbol
`
`3.
`left click
`arrow
`down
`
`4.
`double
`click on
`offer price
`
`LEARNING TO SWIM
`
`Step 2: Check your
`account balance
`
`Before you start conquering the world with your trading prowess,
`check your account balance to be sure you can afford to do so.
`
`In the top left sidebar of the software now open, under ACCOUNT
`INFO, you can see your account balance—the cash you have available
`to trade with.
`
`click to
`view daily
`orders
`
`available
`cash
`
`positions
`
`Step 4: Adjust your order
`
`Here you can adjust the quantity of the order, as well as the price and
`type. When you’re set, click on Confirm and Send.
`
`adjust
`price
`
`adjust
`quantity
`
`thinkManual
`
`click to
`send order
`
`page 6
`
`Page 6 of 66
`
`

`

`Step 1: Locate
`your position
`
`Once you have an open position, you can see what it’s doing by going to
`the Monitor Page, which is another place to view your available capital as
`well as any orders you have entered that day. To locate your position:
`
`1—Click the ridiculously small blue arrow to the left of your option’s
`underlying symbol.
`2—View your open position in all its glory.
`
`How to
`Sell an
` Option
`in Four
`Steps
`
`1.
`arrow
`down
`
`LEARNING TO SWIM
`
`Step 5: Confirm and send
`(for real this time)
`
`This is the “Are you sure-sure?” screen. After your order ticket opens up,
`double-check the order in case you hit a wrong key somewhere or acciden-
`tally typed too many zeros.
`Next step:
`
`b Click SEND if you’re happy.
`b If not, click EDIT to go back to Step 4 and change the order.
`b Or, click DELETE to cancel the order and start over.
`
`edit, delete,
`or send
`
`R Once your order is filled, you’ll hear a little chime that seems to come
`out of nowhere, and a confirmation box in the upper left-hand corner of
`your screen will pop up to let you know how many contracts were filled
`and for how much.
`
`click to
`adjust
`position
`
`Congratulations! Having taken your first dive, you’re officially a “swimmer.”
`Now, how to sell.…
`
`2.
`view
`position
`
`thinkManual
`
`page 7
`
`Page 7 of 66
`
`

`

`Step 4: Confirm
`and send … again
`
`Back to the “Are you sure-sure?” screen. Once again, this is your last
`chance to change your mind. Look over the order confirmation screen
`in front of you. If everything looks good, click SEND. If not, click edit
`or delete.
`
`R When your order has been filled, you’ll once again hear the cool
`celebratory chime and a friendly pop-up confirmation box will notify
`you of how many contracts you were filled on and the price they were
`filled at.
`
`LEARNING TO SWIM
`
`Step 2: Enter the sell order
`
`To sell the long option:
`
`1—Click the even more ridiculously small blue dot to the left of your
`option position, or right-click on anywhere on the whole gigantic line.
`2—In the drop-down menu, choose Create Closing Order.
`3—In the submenu that pops out to the right, click the SELL… order.
`4—An order ticket magically appears at the bottom of your screen
`under the ORDER ENTRY TOOLS tab, automatically populated with
`the current bid as a limit order and a default of 10 contracts. (Note
`that the default bid or offer on spreads is the “mid-price” between
`the bid and ask.)
`
`1.
`click blue
`dot
`
`2.
`select to
`close
`
`3.
`click the
`sell order
`
`Step 3: Adjust your order
`if needed
`
`If 10 contracts is too much or too little, you can change your mind and up
`the ante or lower it. You can also adjust the price.
`
`If you’re happy and you know it, click Confirm and Send.
`
`adjust
`price
`
`set order
`type
`
`thinkManual
`
`page 8
`
`Page 8 of 66
`
`

`

`PART II
`
`How to
`Navigate
`and
`Research
`
`thinkManual
`
`page 9
`
`Page 9 of 66
`
`

`

`BEFORE YOU BEGIN
`
`In a nutshell, the thinkorswim platform is divided into two parts—the left
`sidebar and the main window, which contain all the “pages” of functional-
`ity. Here’s a rundown of those pages and the icons you’ll find on them.
`
`THE “PAGES”
`
`If you haven’t traded on a professional-grade platform before, thinkorswim
`may seem overwhelming at first. But it’s actually fairly easy to navigate.
`Essentially, there are eight pages to the platform, all accessible by the tabs in
`the top navigation bar of the main screen.
`
`subpage
`tab
`
`LEFT
`SIDEBAR
`
`subpages
`
`“pages”
`
`MAIN
`WINDOW
`
`Here’s a quick rundown of what they are and why they exist:
`
`R Monitor Page
`Where your posi-
`tions live and what
`they’re doing.
`How much capital
`you have left to
`trade with, and—
`whether it hurts or
`not—your P/L.
`
`R Trade Page Real-
`time, streaming
`data on any stock/
`option/future/
`forex instrument
`you can trade on the
`platform. Place your
`buy and sell orders
`here as well.
`
`R Analyze Page
`Answer your “What
`if...?” questions here.
`Look at hypotheti-
`cal P/L graphs of
`trades you’re think-
`ing about taking
`or wish you hadn’t
`(to dwell on what
`might’ve been).
`
`RScan Page Your
`due diligence has to
`start somewhere.
`What stock will you
`trade and why?
`Scour the markets
`here for fresh ideas.
`
`R MarketWatch
`Page Set price alerts
`on stocks you’re
`watching, see which
`ones are movin’ and
`shakin’, or plan your
`next trade around
`the calendar of
`important events.
`
`RCharts Page If you
`can dream it, you
`can probably chart it.
`Real-time, stream-
`ing charts with
`over 250 indicators.
`It’s candy for chart
`nerds.
`
`RTools Page
`Social trading with
`other options geeks,
`watching CNBC, or
`just keeping a per-
`sonal trading journal
`of your thoughts
`and desires. What
`else do you need?
`
`R Help Page When
`you can’t find the
`answer in
`thinkManual, try
`here. There are
`phone numbers to
`call humans or video
`tutorials to avoid
`them. Your choice.
`
`page 10
`
`nd research
`how to navigate
`
` a
`
`HOW TO NAVIGATE & RESEARCH
`
`II
`
` THE NOT-
`SO-QUICK-
`START
`GUIDE
`
`So, you’ve decided
`you want more than
`just to delight in the
`thrill of buying calls
`and puts on thinkor-
`swim, eh? Okay. Let’s
`dig a little deeper and
`see what’s under the
`hood...
`
`thinkManual
`
`Page 10 of 66
`
`

`

`SETUP
`Some traders like their eggs scrambled, others like them fried. And all the
`same, they like their trading platform to look and feel a certain way as well.
`Some functions may not be important to you, while they are to others.
`
`You can customize your platform until it’s ‘just right.’ Here’s how:
`
`1—From the top right of any page in the platform, click the Setup but-
`ton. This will open up the setup menu.
`2—Choose everything from the default data for your positions to how
`you’d like to receive notifications from us.
`
`1.
`click
`setup
`
`2.
`customize a
`masterpiece
`
`TIP: display
`margin
`instead of
`bp effect*
`
`HOW TO NAVIGATE & RESEARCH
`
`LITTLE BLUE DOTS AND WRENCH THINGIES
`Before the fun begins, you should be aware of a few important shortcuts you’ll
`be thanking us for later. thinkorswim is loaded with icons and symbols that,
`when clicked on, take you quickly from one area of the platform to another.
`
`If you see one of the following icons, don’t be shy. Click on it. Go for it. See what
`happens. But if you’re feeling less adventurous, check this partial cheat sheet.
`
`ICON
`
`NAME
`
`FUNCTION
`
`Blue Dot
`
`Blue Arrow
`
`Wrench
`
`Grey Dot
`
`Link
`
`Sprocket
`
`Detach Icon
`
`Print Icon
`
`Calendar
`
`Left-click to open an extensive menu that
`lets you enter custom orders, view charts,
`analyze positions, and more.
`
`Click the arrow down to un-hide Working
`Orders, option series, and so on, then click
`back to right arrow to re-hide.
`
`Configures Left Sidebar and trading grids
`on Trade Page.
`
`A shortcut to customizing the watchlist
`you’re viewing, or to toggle to a different
`watchlist.
`
`The thinkorswim color-coded clipboard, it’s
`a shortcut to link a symbol to different sec-
`tions/pages on the platform (see next).
`
`A shortcut to create a new watchlist or
`switch to pre-defined watchlists.
`
`Detaches the current section in a separate
`window that you can re-position any-
`where on the screen.
`
`Click to print the current screen or export
`to a spreadsheet.
`
`Set the date and/or view different dates
`for analysis.
`
`Double Down
`Arrows
`
`Opens Symbol Field Table for a ready list-
`ing of symbols for indexes, futures, forex,
`and so on.
`
`Message Center
`
`Opens up the Message Center in the Left
`Sidebar.
`
`*WHAT’S MY
`MARGIN?
`Many of the pages
`of the platform dis-
`play BP Effect (buy-
`ing power effect),
`which is essentially
`how much the posi-
`tion will reduce your
`purchasing power.
`However, under the
`General Tab in the
`Setup screen, you
`can switch this to
`Margin REQ (margin
`requirement), so
`you can view how
`much margin a
`position you’re ana-
`lyzing or about to
`trade would require.
`(seem image)
`
`thinkManual
`
`page 11
`
`Page 11 of 66
`
`

`

`5—Now head back over to Charts and you’ll see a chart of the symbol you
`highlighted.
`
`5.
`go to
`charts
`
`set to
`red
`
`already set
`to MWSE via
`link box
`
`TWO BIRDS,
`ONE STONE
`Linking the Left
`Sidebar to the
`Trade tab is a cool
`way to streamline
`your trading. For
`example, choose
`a link color for the
`watchlist gadget,
`and the same color
`next to the symbol
`box on the Trade
`Page. Now, when
`you click on any
`symbol in a watch-
`list, you’ll populate
`all the data in the
`Trade Page as well.
`
`HOW TO NAVIGATE & RESEARCH
`
`LINKING: A BETTER WAY TO CUT AND PASTE
`Hyperlinks serve as a de facto clipboard throughout the platform. You can
`save up to nine different items on the clipboard, all color-coded so they’re
`easier to remember. The idea is to let you view the same stock as you toggle
`from Quote to Chart to Trade without making you type in the same symbol(s)
`every time. (Have you seen the length of an option symbol lately?)
`
`Try linking a quote from the Quote screen in the MarketWatch Page to
`a chart in the Chart Page.
`
`1—At the top right of the Quote screen, click on the icon with the
`three colored boxes ( ).
`2—Choose “Red.”
`3—Go to the Chart Page and do the same at the top of a chart
`next to the symbol box.
`
`1.
`click
`link icon
`
`3.
`go to
`charts
`
`2.
`choose
`red
`
`4—Now head back to the MarketWatch page, and highlight a stock.
`
`4.
`choose
`symbol
`
`red
`clipboard
`
`It’s that simple. Once you set up your links, you can set link boxes across
`multiple features on the platform to change simultaneously to the stock
`you’re researching—including gadgets, Widget 360, and even CNBC.
`
`thinkManual
`
`page 12
`
`Page 12 of 66
`
`

`

`b LIVE SUPPORT We understand that many traders may enjoy the solace
`of their own voices, but not of others. So, if the thought of talking to
`customer service directly repulses you, you can always “chat” one-on-one
`online with a live human being through instant messaging without uttering
`a single word. Just type in your questions and in godlike fashion, answers will
`miraculously appear:
`
`1—Click the Live Support tab to be connected immediately to a
`representative.
`2—Click Create Support Request.
`3—In the drop-down menu to the right of To:, click the one that suits you.
`4—Start typing your question or telling your life story.
`5—Click Create Request.
`
`2.
`create
`support
`request
`
`1.
`click live
`support
`
`3.
`pick your
`topic
`
`5.
`create
`request
`
`4.
`type your
`request
`
`R A real person from the appropriate department will respond very
`shortly. And since it’s a chat, you can share your trading screen with client
`service so they can see exactly what you are looking at. Not only that, but
`we’ll stick with you until you get your answer.
`
`HOW TO NAVIGATE & RESEARCH
`
`DUE DILIGENCE, MEET FUN
`
`The remainder of Part 2 walks you through the main features of six of the
`pages that deal mostly with scanning and researching trading ideas. We’ll dis-
`cuss in detail how to actually enter trades and monitor your positions and ac-
`count balances in Part 3 of thinkManual. Feel free to read it from front to back
`(awkward), or simply use it as a guide when you get stuck (more practical).
`
`The Left Sidebar: GATEWAY TO THE UNIVERSE
`It’s a good thing tools aren’t judged by their names, because there’s really
`just nothing sexy about “Left Sidebar.” But despite its potential identity
`crisis, as the title of this section suggests, it really is the gateway to the
`universe—of thinkorswim, anyway. With the Left Sidebar, you can short-
`cut the rest of the platform or access all of its functionality—view your
`account balances and buying power, live chat rooms, custom watchlists,
`live CNBC, and yes, even video games.
`
`Here’s a rundown of what you’ll find in the default view (which you can
`always customize later):
`
`b ACCOUNT INFO Pretty
`self-explanatory, but in a
`nutshell, you’ve got a
`bird’s-eye view of your cash
`available, option buying
`power, and if you’ve opened a
`future or forex account, you’ll
`see those available balances
`as well. Click any of the little
`blue dots to the left to
`tweak what is displayed, such as hiding your balances.
`
`customize
`fields
`
`b SUPPORT/CHAT Need some help? Want to chat online with other trad-
`ers? Interact with market gurus? Click on Support/Chat in the upper Left
`Sidebar and you’ll see a new window pop up with tabs at the top for Live
`Support/Chat Rooms/Audio Settings/Seminars.
`
`thinkManual
`
`page 13
`
`Page 13 of 66
`
`

`

`Want to join in the conversation? Just start typing your thoughts/questions/
`comments/whatever in the box at the lower left and click Send. But please,
`keep it (relatively) clean, thinkorswim is watching!
`
`And if you want to hear or see what’s going on in any of the rooms, check the
`“Listen” box for audio only, or the “Watch” button for streaming video if it’s
`available.
`
`To hear gurus discuss the market, give out platform tips, or just talk shop, click
`Seminars.
`
`HOW TO NAVIGATE & RESEARCH
`
`THE LEFT SIDEBAR > CHAT ROOMS / WATCHLISTS
`
`b CHAT ROOMS Moving further along, you’ll see the tab marked Chat Rooms.
`As you can see, we have all sorts of chat rooms. Active traders often gravitate
`to Market Cast, while currency traders head over to Global FX Chat—just to
`name a few of the more popular virtual meeting spots. Feel free to join in or be
`a creepy voyeur and just watch the conversation.
`
`By the way, be sure to check out “Global news,” which is a breaking news room
`where only news event and facts are announced. No chatter, just facts.
`
`To show you what a Chat Room looks like, here’s a sample from Global FX Chat:
`
`R Click Watch to view/listen to the broadcasts. And as you see, we ar-
`chive, so take a look back for anything you may have missed.
`
`follow
`the chat
`
`be the
`chat
`
`click
`send
`
`b WATCHLISTS The default watchlist
`you’ll see when you fire up thinkorswim
`for the first time is called, well, “default.”
`Go ahead and highlight a symbol in the
`default list and delete or change it. To add a
`new symbol, simply click in the first vacant
`symbol box at the bottom of the list with
`nothing in it and add the symbol. If you
`don’t know the stock symbol, type in a
`question mark (“?”) and hit Enter on your
`keyboard to bring up the Symbol Table.
`
`Aside from nurtur-
`ing your introvertive
`tendencies, a
`major benefit of our
`one-on-one Live
`Support chats with
`a platform specialist
`is the fact that you
`can expose your
`trading layout to
`them so they can
`better assist.
`
`arrow
`down
`default
`
`type in
`symbol
`
`thinkManual
`
`page 14
`
`Page 14 of 66
`
`

`

`Creating Your Own Watchlist
`
`If you don’t like what you see, make a list of your own. Custom lists
`will show up in the menu under “Personal.” (The TD Ameritrade lists
`are under the “Public” menu.
`
`1—Click the sprocket icon, top right again.
`2—Then select Create New Watch List.
`
`1.
`click
`sprocket
`
`2.
`create
`watchlist
`
`This will bring up a New Watch List box.
`
`3—Give the list a name.
`4—Start typing symbols in the quote table below Symbol on the left.
`5—Click Save.
`
`3.
`give it
`a name
`
`4.
`enter
`symbols
`
`5.
`save it
`
`HOW TO IMPORT A
`WATCHLIST
`Another way to
`create a watchlist
`is to simply bring in
`a pre-existing list
`of your own from
`another file on your
`computer.
`
`1—SYMBOLS ARE
`CASE SENSITIVE
`(ABC is not abc)
`2—Create a comma
`separated (or line
`separated list of
`symbols) and save
`to a file (.TXT) or
`copy the list to the
`clipboard
`3—Click the gear
`icon on the watch-
`list Gadget
`4—Click “Import…”
`5—Choose “From
`File” or “From Clip-
`board,” depending
`on #1
`6—Click “Import”
`7—Name the
`watchlist
`8—Click Save
`9—Have an Espresso
`(Double Ristretto)
`
`HOW TO NAVIGATE & RESEARCH
`
`THE LEFT SIDEBAR > WATCHLISTS
`
`You can alphabetize the list by clicking on Symbol. Don’t worry about losing
`your work; thinkorswim automatically saves your screen when you log off.
`Or if you prefer to organize it in a way that makes the most sense to you,
`right-click on the header row and select “No Sorting.”
`
`Viewing Other Pre-defined Watchlists
`
`There are about as many pre-defined lists in thinkorswim as there are
`rocks on a beach. So rather than name them off, just do the following:
`
`1—Click the gray dot to the left of Symbol, or click the little sprocket
`icon ( ) at the top right of the widget to access the
`category menu.
`2—Switch lists between categories by clicking the left/right arrows
`next to the sprocket icon.
`
`1.
`click
`sprocket
`
`2.
`choose
`a category
`then your
`list
`
`thinkManual
`
`page 15
`
`Page 15 of 66
`
`

`

`R Use the News
`Not only can you read the news,
`but you can trade from it too—
`right from this little widget.
`Clicking on a category such as
`Pre-Market Movers brings up a
`watchlist that you can trade from,
`just like any other watchlist.
`
`You can filter stories into various
`categories to fit your needs. Just
`like a watchlist, you can trade
`the stock, analyze a trade, and a
`number of other things.
`
`1—Click the left button at the top right of the Gadget or the All
`Categories button at the bottom to select other types of news. This
`opens the Categories menu.
`2—Choose as many of the pre-sorted lists of categories from the Category
`menu as your heart desires.
`
`1.
`click for
`menu
`
`2.
`choose
`categories
`
`HOW TO NAVIGATE & RESEARCH
`
`THE LEFT SIDEBAR > GADGETS
`
`b GADGETS Not every second of the trading day needs to be action-
`packed, but leaving your trading screen at a
`critical moment could mean missing a great
`opportunity. The Gadgets are designed to
`help you stay well-informed and stave off
`boredom as you watch the markets during
`those inevitable slow moments.
`
`gadgets
`
`R To access the Gadgets, click the icon
`near the top left of the trading platform.
`
`Once you click, you’ll see a drop-down
`menu with a potpourri of Gadgets to
`enlighten and amuse you.
`
`The first choice on the pull-down menu
`allows you to delete a particular Gadget.
`The real fun begins just below that menu
`option. Here’s a run-down.
`
`R Live News
`Live News gives you live streaming headlines from Dow Jones News. And to
`boot, we augment the Dow feed with other feeds like Midnight Trader™ and
`Benzinga™, which offer even better after-hours coverage.
`
`If there is an important news story in business, around the globe, or on Mars,
`it’s probably going to show up on the Live News tape. To get the full story, click
`on the title.
`
`thinkManual
`
`page 16
`
`Page 16 of 66
`
`

`

`R Quick Chart & Dashboard
`Quickly access any thinkorswim chart or dashboard for any trading instru-
`ment. While there are separate pages each for multiple dashboards and
`charts, sometimes you want a quick peek of just one without leaving what-
`ever page you’re working from in the main window.
`
`R Time & Sales
`This little guy displays a running
`log of the time of the last sale, the
`price, and the size of the transac-
`tion for any symbol—all in real time.
`
`R Live Audio
`If you want to hear a particular radio station, this is where
`you go. There are some default public radio stations, but if you have a custom
`station that you want to stream, you can enter that, too. Rock on, dude.
`
`R CNBC Live TV
`As the name implies, you can keep
`one eye on trading screens, another
`on a ranting Jim Cramer, and gulp cof-
`fee—simultaneously.
`
`R Scratch Pad & Calculator
`In case you need to borrow one…
`
`HOW TO NAVIGATE & RESEARCH
`
`R Market Depth
`See the bid and ask prices of any
`symbol on every exchange. But
`you can’t input a symbol directly
`into the widget. To get this Gad-
`get to work:
`
`1—Right-click a stock symbol
`from a watchlist (see below).
`2—Select “Market Depth” in
`the drop-down menu.
`
`THE LEFT SIDEBAR > GADGETS
`
`R Quick Quote
`When you need a quick market
`quote and you’re happy with just the
`last price, net change, bid, and ask,
`simply type in the symbol and hit
`Enter on your keyboard.
`
`R Watchlist
`Compile a list of favorite stocks with a watchlist (see previous section). It
`works much like the Quick Quote gadget except that it allows you to follow
`more than one symbol at a time. And watchlists have icons in the symbol
`box to the right for breaking news, earnings, dividends, etc. Click on the
`icon and read all about it.
`
`thinkManual
`
`page 17
`
`Page 17 of 66
`
`

`

`To set up your analysis:
`
`1—Enter SPX in the symbol box.
`2—Click the Ask price (here it’s 14.40).
`3—View the data in the section labeled PRICE SLICES (see next section).
`4—Adjust your position in the POSITIONS AND SIMULATED TRADES
`section at the bottom of the screen.
`
`1.
`enter
`symbol
`
`3.
`view slice
`data
`
`2.
`click ask
`price
`
`4.
`adjust
`position to
`change slice
`data
`
`R Price Slices Once you’ve got a trade ready for analysis, you can answer
`the question, “How much money will my trade make or lose if the underly-
`ing moves by some amount?”
`
`(continued) >>
`
`page 18
`
`HOW TO NAVIGATE & RESEARCH
`
`Analyze Page:
`STRESS-TEST WITHOUT THE WORRY
`It’s one thing to know what will happen to your trade when you’re right
`on direction. But what about when you’re wrong? What do your “stress
`tests” show? Oh, you don’t know? You should. That’s what the Analyze
`Page is for.
`
`When you want a closer look under the hood of a potential trade, the Ana-
`lyze Page lets you “see” your trade and all its potential outcomes before you
`place your order. You can analyze your original position, view the results of
`potential adjustments, and perform volatility and probability analysis, all
`prior to entering that trade. And all with live data.
`
`The Analyze page consists of the following subpages:
`
`b Add Simulated Trades
`b Risk Profile
`b Probability Analysis
`b thinkBack
`
`R ADD SIMULATED TRADES
`Before you can analyze a trade, you need to tell the software what to analyze.
`You may notice that the Add Simulated Trades screen looks an awful lot like
`the All Products screen on the Trade Page. That’s by design. If you were to
`pull up an option chain from the Add Simulated Trades screen, you can jump
`right into your due diligence without coming in from the Trade Page.
`
`Just as you can pull up any strategy to trade from the option chain in the
`Trade Page, you can analyze any strategy right from the Add Simulated
`Trades page.
`
`With any simulator, garbage in = garbage out. It’s easy to fool yourself if you
`don’t put in realistic prices. Or if you analyze non-standard products (e.g. VIX).
`To keep things simple, say you want to analyze a long position on some SPX
`calls (pictured). The current market on the August 1350 calls is 13.70 – 14.40.
`
`thinkManual
`
`Page 18 of 66
`
`

`

`ANALYZE PAGE > ADD SIMULATED TRADES / RISK PROFILE
`
`Price Slices allow you to establish any “what if” scenario you want. Much like
`chess players who have to think many moves ahead, traders have to consider
`multiple outcomes in order to craft their trading plans. Price Slices allow you
`to think several moves ahead, making sure that “Plan B” is well thought out
`long before “Plan A” fails. There’s no limit to the number of Price Slices you
`can add, which gives you some powerful insight regarding what your trade
`may do if the stock goes up or down by a specific dollar amount, by a given
`percentage of the stock price, or by any number of standard deviations.
`
`Each Price Slice represents a stock price, where you can set “markers” for
`where your trade is now and where it needs to be, whether it’s a percent-
`age away from the current price (“% step”), dollar amount away (“$ step”),
`standard deviation based on volatility (“ step”).
`
`In the Price Slices table, you can analyze option greeks, P/L at the open, P/L
`for the day, and the “BP Effect” (buying power). For each slice you can directly
`type in a different price and you can also set as many slices as you want simu-
`lating different scenarios.
`
`The software defaults to three slices (+10% [above current price],
`Live[current price], and -10% [below current price]). If you’d like to change
`these, click on the Set Slices button (pictured) in the PRICE SLICES tab to
`bring up a menu of parameter choices. (Caution: if you add slices, this will
`default back to three, and you’ll lose your added slices!)
`
`R How to Change Price Slices To add a slice, click the Add Slice button in the
`PRICE SLICES tab as many times as you want to add new slices.
`
`To delete a slice, simply right-click on the slice or click on the little blue dot
`next to a slice to bring up a menu, and select “Delete Slice.” To reset all the
`slices back to the three-slice default, select “Reset Slices.”
`
`add
`slices
`
`delete
`slices
`
`To adjust slices, either left-click each slice individual