Upbeat music plays throughout.
Narrator: Hello traders, welcome to the thinkorswim® mobile overview tutorial for iPhone 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.
On-screen text: “thinkorswim” Would like to Send You Notifications; Notifications may include alerts, sounds, and icon badges. These can be configured in Settings. Don't Allow. Allow.
Narrator: First, it's important to enable push notifications so you can receive vital messages like order fills and alerts. It'll also let you approve login requests for two-factor authentication. For additional security on some devices, you can enable biometrics to log in with Face ID or your fingerprint.
We can also set up dark or light mode. This can be changed at any time under the More tab. If you run into any trouble, there's in-app help, which we'll go further into later. The app opens on the Overview page, which provides a quick glance at live data, account details, and more information.
The Markets section shows you what the major markets are doing with real-time and streaming quotes.
Next, My Position Movers shows which of your investments are moving the most that day. Moving down, you'll find Account Balances, Orders, Watchlists, News, Trader TV, and Calendar.
You can customize the Overview page by tapping the gear icon at the top.
Next, tap the red buttons to remove a section, or tap the green buttons to add one.
You can also further customize individual items by tapping the gear icon.
I'll tap Done to exit this screen.
If you have more than one account with Schwab, you can see them all by tapping All Accounts. This is also where you access your paperMoney® account to practice trading strategies without risking real money.
Animation: After long pressing the screen, the icons shake showing they can be moved.
Narrator: You can navigate to other tools using the App Menu at the bottom of the screen. By default, there is Watchlist, quick Trade, Positions, and More. You can customize the app menu to include the tools you use by long pressing an item in the menu.
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 circle 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 tap it again, the highest price stocks are on top.
You can also change the watchlist view by tapping the list icon at the top. Each view focuses on different information, including Grid, Compact, Detail, and Heatmap.
I'll click Detail, and then scroll to the right where you can find information like the company's beta, dividend yield, and P/E ratio.
Let's go back to the grid layout so I can show you how to customize it. I'll start by tapping the gear icon, where 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.
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.
You can find Level II quotes here as well. This shows the order book for the stock, including bid and ask prices.
Animation: After tapping the candlestick icon, a list appears. Edit Styles is selected from the menu.
Narrator: There are more tabs. Let's start with Chart. To change chart styles, I'll tap the candlestick icon and then Edit Styles.
Animation: The Type line shows Candle between two arrows. The left arrow is tapped to reveal the chart types.
Narrator: I can switch the style from Candle to Line, Area, 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 Done.
Now let's look at alerts. 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.
Animation: After tapping send, a window appears inviting the user to View Order.
Narrator: 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, if I go back 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 and 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 320 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.
On-screen text: After setting up the order, the Review button is pressed showing the order confirmation screen. Then the Send button is selected, completing the order.
Narrator: Let's look at an example of how to close a position. I'll tap the symbol for IBM and then Close Selected. Let's make this a stop order at $140.02—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 so far, but there are several more features under the More tab. Let's touch on one more.
This is the Help tab, where you can find a few choices for getting assistance. One of the most useful is Chat, where I 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 then check out our other videos for more thinkorswim tutorials.
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