Learning Center - PairTradingLong - Thinkorswim

Good percent trailing stop?

Hey all, I’m new to forex trading, developed a nice method in trying with a paper account, using thinkorswim because I enjoy all the indicators. Anyways the question is simple. What’s a good percent trailstop? I can place an order that tracks trailstop based on percent, which seems to make more sense since every pair will have different “sizes” so it makes sense that finding an ideal trailing stop for my method should be useable in % right? Anyways any ideas for more of a swing trading strategy? I typically am trading on the 1h to 4h range. If I get into a good position I’ll just let it run overnight etc. my strat is a trend strat so it works out quite well, just trying to focus in on the ideal numbers now, and setting an ideal trail stop. Anyone have a similar strat and what percent trail stop do you use?
submitted by explodingwombat to Forex [link] [comments]

Looking for good oscillators and indicators

Im always looking for an easy out. Some oscillators work great for stock, other better for futures. I havent found any really for forex that are pretty dead on. I know about sma and ema and everything by John Carter. I need studies in THINKORSWIM not MT. anyone know of some good studies or oscillators for trading Forex currency pairs? im doing about 1-2% daily and havent had a losing week since November so im not wanting to blow my account or anything like that with bad advice.
submitted by wakenbakespecial to Forex [link] [comments]

Where can I view how much margin I have available for a trade?

For example if I want to trade forex like the EUUSD currency pair, and I want to see how many pips I can purchase with leverage, is there a way I can see that number on thinkorswim?
submitted by webcamz to thinkorswim [link] [comments]

HELP

I have just recently picked up a book on Forex trading, downloaded the thinkorswim platform, and now have a 60 day paper money trading account to use before going live. I have a degree Economics from a Big Ten school, so do I have a good fundamental base knowledge on both how currencies derive their value, as well as how the equity market operates. Now, about 30% into the book, I can understand that the currency pair is of no intrinsic value, nor does it appreciate over the long term in general cases (being that it is a ratio + non dividend paying), and all of the methods to identifying trends introduced so far.
Now, what I don't understand is 1) What exactly you're holding when say, you go long on the USD/EUR, for example. 2) Is the currency pair market essentially all options that people are trading, and if so, how do you/ do you exercise that option in any case? And 3) Not only that but what are exactly, after a successful trade say, the mechanics behind the trade (profit derived) that will result in a an addition of money your account?
That much is a bit lost on me so far, I would greatly appreciate any clarification
submitted by RodgerSterling45 to Forex [link] [comments]

Can't view volume in Thinkorswim?

Possible (probable) noob question here, but why I can't I view the volume for a given currency pair chart in Thinkorswim? It says that volume isn't displayed because some bars are equal to zero. While I understand what that means in and of itself, there doesn't seem to be an option to override that parameter. Obviously, forex is OTC, but shouldn't it provide volume for TD Ameritrade trades like Oanda does for its transactions?
submitted by Gretschish to Forex [link] [comments]

Newbie here and I need help

Hi, so I opened an account with TD Ameritrade to trade stocks with last year and ended up getting side tracked with other things (college). I decided this month to look back into trading and really try to educate myself and truly understand whats going on rather than just looking at a chart and guessing, and also try other things besides stocks. So for the past two weeks I've been attempting to trade forex with the paper money account TD provides.
So, today I was doing pretty okay. I went long on EUGBP and over the course of 2 hours made $217 with my fake money. I was pretty happy. Then I proceed to lose $500 when I went long on EUUSD and five minutes later it hit its daily high and plummeted after that. After that knife in the my gut, I decided to take a break and go do some things, come back in a more stable state of mind. For the last hour I've been trying to pull some money out of the market here and there. I made a few bucks back, but then I took a loss that really pissed me off. I'm using TD's ThinkOrSwim platform to trade with and I must be missing something or don't understand something. I analyzed my charts for about 5 minutes and drew my trend lines and marked important price points. I was looking for the EUUSD to go long after it took a quick dive and made a double bottom. I set a BUY LMT order at 1.1180 and set my stop loss for 10 pips less and 50% take profits for 20 pips and the rest take profit at 50 pips above my entry. I left it to do its thing and I come back around 20 minutes later to see that the price is now 5 pips past my BUY LMT order and for some reason I haven't entered yet even though I set the order up. I don't seem to have this problem when I set up an order to short though.
I do have an issue with shorting and I guess I just don't understand what I'm doing. I analyzed my charts and was going to short EUGBP. I entered at 0.7337 and watched it drop to almost 0.7330. I was expecting a nice little profit when I looked at the P/L Open to see that I was negative almost $70. I thought if you short it you make money when the pair goes down in price? I've also had the opposite happen when going long on quick trades (15 min or less) where the price is now well above my entry but I'm in the negative on my P/L open.
I'm just really confused now and need some help, both with what types of orders to use and when to use them, and also with ThinkOrSwim itself. I thought if I wanted to go Long I should use a BUY LMT order as opposed to MKT order to know I'm not paying more than what I want to but when I set those BUY LMT orders up they aren't being executed.
ANY help or advice is appreciated, thanks.
submitted by MotorMUT16 to Forex [link] [comments]

New to Forex, I'm extremely confused.

I'm new to the Forex market and am pretty confused thus far, mainly with the currency pairs. So I'm an American and want to always start and end up in USD. How exactly do I go about buying, say EUUSD? Do I have to have euros beforehand (because aren't I trading 1 euro for ~$1.30)? This is confusing because if I put, say $500 into my account and have a 50:1 leverage, I would be able to trade $25000. But If I want to trade all that $25K for euros, I don't see a way to do that (in my thinkorswim there is no USD/EUR, only EUUSD).
I know this is probably a really idiotic question, but I can not seem to get my head around these currency pairs, and most "courses" I have seen over Forex only briefly skim over how they work.
submitted by TheFacter to Forex [link] [comments]

Can’t view volume for currency pairs?

Possible (probable) noob question here, but why I can't I view the volume for a given currency pair chart in Thinkorswim? It says that volume isn't displayed because some bars are equal to zero. While I understand what that means in and of itself, there doesn't seem to be an option to override that parameter. Obviously, forex is OTC, but shouldn't it provide volume for TD Ameritrade trades like Oanda does for its transactions?
submitted by Gretschish to thinkorswim [link] [comments]

Intro for New Traders

This is designed to be a brief intro into trading. If there's interest in a more detailed "course", perhaps I'll work on that.
Trading isn't difficult. If someone asks how I do it, the simple answer is "buy low, sell high". As a new trader, you don't have the experience nor the tools to understand that cliche, but hopefully with the links I provide and this subreddit, you can start your journey into trading.
Everyone has their idea of what trading is and what trading isn't. Fact is that there's no one way to trade. As you learn the types of trading and different strategies, you'll want to focus on what best matches your personality.
The first thing I would suggest doing as a new trader is to read the book Trading in the Zone. While some of the examples or details may not make sense at the moment, focus in on what Mark Douglas says about self sabotage. Keep the book in the back of your mind as you're going about your learning. If you're unable to find the book, Brett has some good articles. His site is outdated, but the articles on trading psychology are still relevant. There are a ton there, but I'd suggest "The Lesson on Trading Psych" and "Approaching Trading with an Empty Mind". I have yet to read all of them so perhaps there's a gem in there I missed.
Trading Psych is 90% of the game. After you've mastered definitions and basic strategies, trading psych is what you'll be working on for the rest of your trading career.
BabyPips has the best trading "school" i've seen. It's free and it's easy to understand. While the site itself is made for forex, 99% of the information in the school translated into stocks. Spend a week or so reading through this site.
After that, you're pretty much ready to start papertrading. (Papertrading is trading with fake money). Most forex broker's offer free demo account. If you want to trade forex, that will be fine. If you want to trade stocks, I'm not aware of any "free" papertrading accounts. However, I know Interactive Brokers and ThinkorSwim provide papertrading accounts once you sign up.
Regardless of whatever market you decide to trade, stick with it. If you change markets after thing get difficult, you'll never learn from your mistakes. If you're doing forex, don't jump around from currency to currency unless your timeframe is on the longer side (1hr+). Even then, limit yourself to 5 pairs or so. Same with stocks, unless you're on a longer timeframe, give yourself time to learn the stock and the way things move.
Be prepared to papertrade for months or years before things seem to "click". You WILL get frustrated. You WILL lose. Don't make excuses.
Go ahead and quit, it's easy.
submitted by the_rabbithole to TodaysMarket [link] [comments]

Learn How To Thinkorswim com how to enter a forex trade #2 - YouTube How to TRADE using Think or Swim Paper Trading Tutorial ... Pairs Trading Tutorial - Part 1 - YouTube HOW TO SET UP THINK OR SWIM FOR FOREX TRADERS - YouTube Thinkorswim.com - how to enter a forex trade - YouTube Pairs Trading Tutorial - Part 2 - YouTube

Trading stocks, options, futures and forex involves speculation, and the risk of loss can be substantial. Clients must consider all relevant risk factors, including their own personal financial situation, before trading. Trading foreign exchange on margin carries a high level of risk, as well as its own unique risk factors. Trading: Forex currency pairs are traded in increments of 10,000 units and there is no commission. However, the cost of the trade is reflected in the bid/ask spread. Setting up an account. To start trading forex at TD Ameritrade, you’ll need to open a standard account. The Standard account can either be an individual or joint account. You will also need to apply for, and be approved for ... Thinkorswim Forex Broker - View detailed trading information for Thinkorswim and read reviews of Thinkorswim by other trader's. 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 ... 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 ... 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. Pairs trading is a market neutral trading strategy a lot of hedge funds and prop traders take advantage of. Throughout this guide, you’ll learn the fundamentals of pair trading strategy and how to hedge your trades from unforeseen market movements.. Pairs trading relies on a mathematical concept known as cointegration.For the purpose of this article, we’re not going to worry too much about ...

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Learn How To "Pairs Trade" Using Thinkorswim & The Stock Market!

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