Upbeat music plays throughout.
Narrator: Hello traders, welcome to the thinkorswim® mobile overview tutorial for Android users. You'll learn how to navigate and customize the app, place trades, and more. Let's jump in.
To log in, use your Charles Schwab credentials.
The first time you log in, you'll need to adjust some settings.
First, for additional security on some devices, you can enable biometrics to log in with facial recognition or your fingerprint.
We can also set up dark or light mode. This can be changed at any time under Settings.
If you run into any trouble, there's in-app help, which we'll go further into later.
Finally, it's important to enable push notifications so you can receive vital messages like order fills and alerts. It'll also let you to approve login requests for two-factor authentication.
The app opens on the Overview page, which provides a quick glance at live data, account details, and more information.
First, is a glance at your Watchlists which allows you to see how some of the stocks you're watching.
Next, you'll see your Account Balances.
My Position Movers shows which of your investments are moving the most that day. Moving down, you'll find, Orders, Alerts, Markets, and News.
You can customize the Overview page by tapping the gear icon at the top.
Next, tap the blue eye icon to remove a section, or tap the gray eye icon to add one.
You can also further customize individual items by tapping the gear icon too.
I'll tap Back and then the checkmark to exit this screen.
If you have more than one account with Schwab, you can see them by tapping the account name at the top.
This is also where you access your paperMoney® account to practice trading strategies without risking real money.
You can navigate to other tools using the App Menu. Tap the list button in the upper left. By default, there's Account Overview, Watchlist, Positions, Orders, Balances, Alerts, Transfers, Chat Rooms, Trader TV, Messages, and Calendar.
Let's say we want to create a watchlist, which is a list of investments you want to keep an eye on. The mobile app syncs with your other thinkorswim platforms, so any watchlist you create on one platform will be visible on the others.
To create a new watchlist, tap the name of the watchlist in the upper left side of the app. Next, tap Create New Watchlist.
I'm going to name this Demo and then tap Next.
Now, search for stock symbols to add. I'm going to start with Amazon by typing AMZN in the search box. I'll add it to the watchlist by tapping the green plus sign next to the symbol.
Next, I'm going to add Apple (AAPL). If you don't know the symbol, just start typing in the name and it'll appear in the box.
I'm going finish off this watchlist with Microsoft (MSFT).
I'll tap Done.
Here's your new watchlist. To sort the watchlist, just tap the title of any column. For example, if I tap Last, it puts the lowest priced stocks on the top.
If I scroll to the right, I can see more information.
I can also customize the watchlist by tapping the gear icon. Here I can remove and add a variety of features. I'm going to remove the Strength Meter and then add the PE ratio from the Stock Fundamentals section.
I'll tap the checkmark and there it is.
Now, let's say I want to research a stock and place a trade. If the stock is in a watchlist, simply tap the symbol. You can also search for a stock by tapping the magnifying glass at the top. Let's use Tesla as an example. I'll type TSLA into the search field.
This is the quote detail page. You can trade from this page, plus it includes other tabs.
If I want to see more information on how the stock is trading, I can tap on Level II. It shows the order book for the stock, including bid and ask prices.
Let's say I want to look at Tesla's stock chart, I'll tap Chart. To change chart styles, I'll tap the candlestick icon and then Edit Style.
I can switch the style from Candle to Line or any of these options.
I can change the chart timeframe or add technical indicators or compare the stock with another stock, like a competitor or against an index.
When I'm finished I'll tap the checkmark.
I can also set an alert by tapping the bell icon. Let's say I want to be notified if Tesla climbs back to $280. First, I'll tap the alert icon.
Then I'll set the Trigger at greater than or equal to. And type 280 as the Threshold. Finally, I'll tap Create Alert. Now, if Tesla hits $280 or higher, I'll get a notification.
We've touched on some technical analysis tools, but what about fundamental analysis? I'll start by selecting Profile. Here's a breakdown of the value of the company by percentage of the market cap. Below that is the Company Overview, which describes the company and its overall financial picture.
Okay, let's say that I've decided to buy this stock. Remember, this is a demo, not a recommendation of any security.
At the top of the page, I'll tap Buy.
In the Order Editor, I can specify the order. For example, I can change from buying or selling. I can also change my order type. Let's keep it as a LIMIT. You can change the price at which you want your limit to fill.
Next, I'll also set the order quantity to one and I'll keep the Time in Force as Day.
I'll tap Review. After reviewing the order, tap Send.
So, let's go back to the Chart, which shows the order as well as the alert.
Also, back on the Overview page and down to Orders, I can see my open order under Working Orders. It also includes filled and canceled orders.
Now, let's see how to place an options order. I'll go to the new watchlist I created and select Microsoft. Once again, this is only an example, not a recommendation.
On the quote page, select Options.
Here's the option chain for MSFT. Below are the expirations.
For this example, I'll tap on 15 SEP 23 options.
Calls are on the left and puts are on the right. I'll change the number of strikes to eight. I can also change the tables to reflect a certain strategy by selecting the Spread box and tapping the strategy I want. For example, I'll select Vertical. Now, when I look at the options chain, I see that I have two strikes together, which are potential vertical spreads.
Today I'm just going to trade just a single contract, so I'm going to switch the chains back to Single.
I'll load up an order to buy the 315 call by tapping the Ask price.
The Order Editor looks pretty similar to the stock trade.
I'll reduce the number of contracts to one. Then I'll tap Review and then Send.
Now let's look at our Positions.
Like the Watchlist section, I can sort my positions by tapping the columns. I'll sort the P/L % column to see the winners and losers.
Let's look at an example of how to close a position. I'll tap the symbol for Lululemon and then Close Selected. Let's make this a stop order at $373.01—if the stock falls to this price, it'll trigger a market order to sell at the next available price, though that may still be lower than the stop price.
Alright, I've covered quite a bit, but we need to talk how you can get assistance. I'll open the app menu and tap Help. There are a couple of different choices. One useful aid is Support Chat because you can message with a live associate.
So, you can see that the thinkorswim mobile app is a robust tool that's designed for active traders. Download the app and start exploring all its features and tools, and check out our other videos for more thinkorswim tutorials.
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