I use RU-vid to journal my trades, I upload weekly stock watchlist M/W/F, no referral links or courses to sell
I am a healthcare provider that is tired of being chained to the 9-5 lifestyle. Its time to break free of the cogwheel known as the rat race and take your financial future into your own hands. Watch me review my trades that I make in both my short and longer term trading accounts. I will be trading stocks and options to increase my income and retirement accounts. I have multiple accounts and therefore multiple trading strategies and time frames that I am trading. I will review my technical analysis as well as some limited fundamental analysis with my longer term retirement accounts. Please join me as I navigate the financial markets. I would love to have you along for the journey. Thank you
Thanks for the video. Maybe I missed it but are you operating as a sole proprietorship or S-Corp? In talking to Schwab it makes a difference with how the funds go into the account.
I set up an ACH link to transfer money to my light speed account but how do I set up the second relationship you mentioned to send money from lightspeed to my bank account? From what im seeing you can only send money from lightspeed to your bank by filling out the ACH verification form and mailing it
What market data plan did you subscribed to with Lightspeed so that it will show all those ECN’s on level 2. I am just a beginner in trading and want to know what to look for. Thank you!
Hey good question. I did the level 2 order book. I think back when I started it was 7/mo but then they increased it to 10/month and I also subscribed to options data which was 5/month so all in I paid 15/month for all the order books.
TOS is NOT READY FOR PRIME TIME. Too much unwanted and unused AUTOFILL items. Non conformity across functions; what is called SYMBOLS on most activities and sortable, is called INSTRUMENTS on other functions/screens and is NOT SORTABLE, nor linked. Adjusted field sizes resort to sizes TOS had, before you adjusted them. Field compression makes many screens UNUSABLE in tandem with other screens. Platform seems not adjustable to a LAPTOP screen, even a 17" screen. A lack of side to side scrolling, using compression instead, makes doing many trivial actions, such as a couple quick trades with conditons, almost impossible. The inability to quickly see LOT INFORMATION makes doing informed trades almost impossible, too.
Very very helpful. Thank you so much. You gave me exactly the info I needed. One quick question though. I'm watching this in June 24' and wondering if your information is still valid. Anything you'd update your informartion with that I should know about?
no, everything is still valid, the only thing that has changed is the contribution limits has raised slightly. And if history is an indication- with this hyperinflation/ stagflation environment that the fed has decided to take, then we are looking at an annual contribution limit increase of $500 per person per year increase
I've been using both platforms (TOS and SSE) for awhile now, I keep coming back to SSE for its look and feel (and yes, I know there is an attempt at an SSE look as a TOS workplace profile but it's junk). I'm partial to cash secured put selling so have been starting to dip my toe into IBKR TWS (not IBKR Desktop, which is too simple). Any thoughts on IBKR?
I have not used IBKR or any of their products, I looked into it previously but I would choose Lightspeed over any other commission broker out there. A different option of course would be to stay with TOS and then sign up with das trader pro and just trade using Das trader, as your platform and keep TOS as your broker that is executing the trades.
Yes. That is typical. You can email them and ask for it to be set to real time. But I was only interested in familiarizing myself with the platform and practice my hotkeys to ensure they were correct and ready. Then I wanted my live account
Hi, Hope you are well. Very happy to inform you that I visited your channel some time ago. The problems I found while visiting your channel is that despite your video quality being good, the views on your channel are very low. You can get your channel SEO done by a RU-vid video SEO expert. We are looking forward to hearing your thoughts.
with a few years using it now I can say It actually does charge from empty to full while using the Mac with high processing programs running at the same time. Charge time is maybe 20% longer
I can understand peoples frustration. I use and love TOS for option trading, but I wouldn't want to use it for anything else. For options it is great though. Too bad they can't keep both
SSE's roll out capability is like none other. Too bad they couldn't incorporate it into TOS! It took one step to roll out any options positons; it takes a few steps on TOS.
Today I logged into SSE and received a pop up notification the SSE would terminate between April and August. I was shocked. There was a link inside the pop up window that went to Schwab's web page (after I logged in) that was a tutorial on Think or swim. That was broken. I then came here to RU-vid where I watched various set up and user videos on TOS for about 3 hours when I called it quits and found your video. Whew. Glad I'm not the ONLY ONE who thinks having to "set up/customize " for Dow, Nasdaq and S&P that takes 3 minutes and a whole block of screen on the left side in TOS which nicely sat on the top of Streetsmart Edge's screen. Also, TOS's charting is abysmal compared to SSE's tab'd version in a box that could be minimized or max'd. I was shocked (and that's not a word I use lightly) when it came to the trade ticket which on TOS is already PREFILLED with 100 as quantity. SSE you had to put that in yourself. TOS is being pushed by my broker as (and I quote) "a much more powerful tool.". I have voiced my utter disdain that Schwab lied to us and I'm looking for options other than them. You mentioned Lightspeed in your video but they have a commission. I've searched online and found WeBull.com as an alternative. They have zero commission, after hours trading and a desktop platform. I was wondering if you knew anything about them? Thanks for this video. If Schwab customers walk with their money they might listen at the 11th hour. I too will keep my small IRA with them but the bulk is leaving.
Well today when i logged into streetsmart it said closed. I have been using this platform since it was called optionsxpress that schwab bought. I liked the detachable chart and easy to use watchlist and ability to change orders while seeing the live quote. Spent hr on Tos trying to setup like sse but never got to point it will work. Looking for new broker now who might have something like sse. If anyone has suggestions please list. I am not able to trade in the same manner i was on sse and very unhappy. Sent message to my schwab consultant to let him know i am moving the accounts and he admitted he used sse.
There is no official date. They have hinted at April 24. But then again also at September. I believe it’s all projection based on when the transfer is completed. They will retire the platform after they convert futures and retirement accounts over to TOS
I wonder if my screeners can be transferred or if I need to redo everything! Does Think or swim have the schwab network and CNBC broadcasts like StreetSmart Edge does?
I believe it has the same broadcast and does have CNBC, but as for your scanners you will have to convert those over (at least I did), if you can do it via software I am unaware of how to do it. ... The good news is that you can still access schwab SSE platform once your account is ported over, you can compare your platforms. However it is a one way valve, so once you switch you cannot switch back. It will be forced at some point in 2024 for everyone and also cannot trade in streetsmart edge either once it's switched
I am shocked by Schwab's decision to retire Streetsmart edge in the cloud which I use already more than 10 yrs and is perfect for me. I tried the demo Thinkorswim and this is very unfriendly to use, I call it horrible for many reasons: 1. no indication in the rows of watchlist when there is news on the stock; 2. no separate option applet which covers the charts when opened (terrible!); 3. the watchlist is fixed at left and should be at right; 4. I need medium fonts in the watchlist and this also increases the fonts of the charts which is totally unnecessary because I want to see as much space for the charts (I have 9 running on my 27 inch screen). Also it is a waste of chart space that the name of the study (I use slow stochastic) is always mentioned and that this also increases with the medium font setting. To conclude: the thinkorswim is an unfriendly to use, horrible, outdated platform. I lose my market feeling completely with this.
Street Smart Edge is hands down 500% nicer than any other platform. TOS looks like some open source generic garbage the cat threw up. TOS is little or no different than a dozen other bland options trading platforms. Street Smart Edge has class and is perfectly adapted to swing trading and long term or short term trading. When I found out that Schwab is abandoning SSE, my heart dropped so hard I felt like I did when my first serious girlfriend dumped me. Going from Street Smart Edge to Think or Swim is like going from a 90's Rolls Royce to a 80's Subaru wagon. I want to throw up right now. I feel like someone shot my dog and my best friend stabbed me in the back at the same time. Why would Schwab give up an asset like SSE? This doesn't make sense... I'm going to need a therapist for the 1st time in my life. This is worse than when my father died two years ago... Schwab, you inconsiderate wastrels (I am trying to be polite about it and forced to use a word I have never used to describe extremely disappointing and foolish persons).
@@steveludeman9862 Yeah, if they want to cut costs they should scale back the education side. Schwab publishes tons of redundant trader education resources... Traders and investors don't need two dozen backseat drivers, especially now that they are taking away the keys to the best car in town (SSE). Thanks for your comment, and I agree that it is a hairbrained corporate stunt to cut an asset like SSE just to increase margins a tiny bip or two. If Schwab really wanted to pull an interesting stunt, they should have paid Keith Gill to come out of hiding and promote SSE.
I've had a TD account along with a Schwab account for some time. I just looked at TOS for the first time in a year. It still looks like a 3rd grader pieced it together. Impossible to navigate it's so jumbled up. I tried looking at what it would be like to place an order and you could really make a mistake pretty easy. It's a shame we're losing such a clean a functional platform. Corporate dummies sitting around a table making decisions.
Certainly is a disappointment. But I’m sure the suits are eager to use and keep that program seeing that it was instrumental in its acquisition in 2019
I agree with you 100%. I can understand Schwab buying TD for the deposits and additional traders, while taking out a piece of the competition... but adopting TOS over SSE? How could they think that makes sense?? Ouch.
I actually trade with both TOS and SSE. I found TOS to be fine once you set up your charts styles and study tools. Trades seemed easier on TOS and also able to trade in AH and not have to wait 5 minutes. This is very important when trading on AH earnings. SSE I thought the level 2 was better. I wish TOS had market watch screens. I have all sectors populated in multiple watchlists. This made it easy to follow what sectors are hot. Basically once TOS is set up it's not bad. It just takes time and effort which is a pain in the ass. I think TOS just offers way too much information which can be scary. I will be sad when I get kicked off SSE although lately its been crashing and two days ago it was sending trades but not registering the trades on the position screen. This caused me to do multiple trades thinking the trades didn't go through. Even my balance screen was not deducting the trades. I usually enter a buy and sell at the same time. The trades were signaling that they went through but wasn't showing up in my positions. This cause me to cancel my sells thinking I would be entering a short position. I ended up stuck in a trade with my margin. Spent 2 hours on the phone with Chuck trying to straighten it out. Turned out the system was screwed up for over 2 hours and their trade office is backed up for a full day trying to clean up all the errors. I still have a margin call that Charles hasn't fixed causing me not able to trade today. Annoying.
question for you so if I trade 2000 shares they will charge me five dollars per trade for selling and buying each time correct? If I buy penny stock 40,000+ shares they still will charge me five dollars per trade?
It depends on whatever plan structure you are on. I am on a per share plan since I don’t do that high of volume. If you’re on a per trade plan then yes. Whatever your commission is per trade is your cost regardless of the volume or share size
I spent about an hour trying to customize TOS to my liking . I find it very cumbersome and doubt I will use it for trading. What I will most likely do is use the features and just Use IB for all my options trades and some stock trades. I use the IB Trader Workstation Pro so I have to pay a commision for stock trades , options are about the same cost. I have more money sitting at Schwab then IB so that's the main reason I use them over Schwab for most of my options trades Bad move on Schwabs part to force everyone to use this TOS . I can understand not wanting to have two separate platforms however they should reprogram TOS to give options to keep the best parts of SSE which is the simplicity of trading and the set up of the Market Depth screen and easy of looking at options.
Yep. Change will be harder on some than others. For me I don’t use it anymore as my day trading platform so it won’t have a strong effect (I don’t think) as someone who is still actively trading day in day out. But this may cost them in the long run and that may be the consequence that provides the ambiguity to needed a more robust platform than either are currently offering.
@@physiotrader6604 I spent a couple of hours paper trading with TOS and setting up different platforms. I did mange to get something that is workable however there is a definite learning curve . TOS is not as customizable as SSE . One important item missing from their Level II which is basically the same as the market depth screen is the full arca book as well as integrating the Nasdaq book in the level II is not an option . I spoke to a rep who said they will no longer offer the full arca book with TOS. Cant understand that one . There is also a setup within TOS that is suppose to mimik SSE , its decent but then once you move around and open up other windows within TOS it goes away and I have not figured out how to get it back. The charts are excellent . I wont switch over until I have to and by then I am sure i will have figured out everything I need to.😄
Just got a call from Schwab because I am a very active trader informing me that in June 2024 no more SSE. I have been using that platform from day one . Have tried TOS and hated it but then in fairness its probably something I would need to set up and get use to . I also have IB and when I first started using TWS I did not like it, now after 20 plus years I love it. With that said this is a huge mistake from Schwab , and they may lose a lot of active traders . I trade full time thousands of individual trades a year mostly options. Main reason I use Schwab more then IB is because all my free cash I can put in T Bills and its marginable up to 90 % . I know IB gives high interest rates for balances over 100 K but its still less then what I get from the T Bills. If I find TOS to clumsy to trade on I will just trade everything at IB which I would do now but they still charge commision for stocks , Options are about the same but I get a discount at Schwab because of the volume . And yes I had many issues with stale trades major lag on quotes and trade update with Schwab during the Covid insanity , however my account at IB ran smooth. Lightspeed is a good broker similar to IB . I was almost going to switch to them but decided I had been with IB for so long and did not want the disruption.
I completely understand and I still have not come up with a good solution yet. The absolute best idea I have come up with to date is to wait until they finalize your port over to TDA TOS system- then initiate a link with DASTrader Pro service where you can execute your trades using Das Trader but keep Schwab as your brokerage. This will give you access to the high speed and active trader platform without switching brokers. Truly considered this myself and have not decided yet because I use Lightspeed as my active trading brokerage and only use Schwab for swing trades and investments which I do not require a fancy platform for. Let me know your thoughts or what you end up doing because I still have no idea what Im going to do but I dont plan on doing anything until I get the forced boot
@@physiotrader6604 Das charges a commission on trades so that's not a good options for me. I probably will just use TOS for the Charts and Market Depth and do all my options trading at IB . IB charges for Market Depth and the Arca book , I dont want to pay them $40 a month when I can get it for free from Schwab. I an doing to do some dry runs with TOS via paper trading and see if I can get use to it .
I attended a TDA seminar several months ago, then signed up for a test account, and found TOS lacked a smooth look and feel. I may look for another broker besides Schwab once they discontinue SSE, which works extremely well. Not all change is favorable for clients. And, I don't trade options anymore.
@rickreantaso1466 it really is so clunky and disappointing that Schwab is not, or at least has not made plans to update it. I’m a big fan of using the mouse scroll wheel. TOS is so so so much clicking. But the order entry windows is terrible. Archaic. I do however like the fact that I get access to futures data. Schwab SSE did not allow that.
hey guys we should get a list of traders who want SSE to stay and submit it to schwab to make our voices heard! It not right that schwab TOS down our throats!
I love that idea, I do. But I doubt it would have any effect. Reason being is that it is likely very costly for them to run both programs. financially for them it likely makes sense to ditch one. The hope was that they would have created a whole new platform based on the best of both worlds. I would be all for requesting it to stay however, I just dont see it yielding it much fruit.
@@physiotrader6604 i've been calling and chatting and messaging them to do something about this awful decision. TOS is very outdated looking. It looks like it was built in 80s. lol I'm all for a new platform with the look and feel and ease of use of SSE and the depth and functionality of TOS. I'll see about writing up a petition and then i'll reach out to you. thanks for the reply my friend! have a blessed day!
@@physiotrader6604 I think we should get a list of SSE lovers to make our voices heard! I don't think it's right they shove TOS down our throats. let me know if you're interested.
TDA was easy to navigate with so much more than Schwab’s website. Been having several issues since the transition. Change is welcomed but not like this. Can we have TDA ‘s website back or should I start looking to move?
TD website had some nice features, I agree. But TOS was and is like the government cheese of trading platforms. I agree the ESG theme is stupid but let's not get carried away. SSE has some excellent trading tools. Research tools, screeners, newswire, block trading, Market Edge etc. TD Ameritrade website had some nice stuff like "The street", "Ford Equity Research" and some other analyst resources. Tbh, I feel like Schwab acquiring TD Ameritrade has resulted in the worst of both worlds instead of beneficial synergies.
It depends on what you’re trading what instrument and what time frame and what broker and or software you are going to use. 75% of the time yes the M1 air will be sufficient. UNLESS you are specifically day trading not swing trading. Say trading will draw a lot more consumption including need more RAM and power if you intend on using multiple screens. My personal recommendation is between don’t overbuy for something you do not need, but also having the right tools will help immensely in your trading journey
