Activity and Positions Tabs

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Video Transcript:

Hello traders. Welcome to the thinkorswim tutorial and the second module, monitor tab. In this lesson we’re going to look at the activity and position sub-tab on the monitor tab. This is the thinkorswim platform as we have already modified or customized it to our trading and this is the monitor tab and the activity and position sub-tab. Now the first thing you will notice is that we have two different sub-divisions for futures trading and for Forex trading. As you can see right here we have one mini lot long on the EURO/USD and we are up $1.30 right now and right here we have sold two contracts of the E-mini S&P 500 and we are up $100.

Activity and Positions tab thinkorswim

The two different sub-accounts give us the same information: the instrument we are trading whether we are long or short and the percent change and our open P&L. The buying power in effect, meaning that the margin that is required for this position that is held from our available $90,000 for futures and the buying power in effect held from our available $10,000 in Forex. Now you can see that we have this little square right here and if you clicked on it you can see that the platform is telling us that we have an economic event tomorrow. If you click on it you can see that we have a FOMC policy review meeting and everybody is counting on the interest rates to be hiked so it is not very safe to be trading the EURO/USD overnight but this is only a demonstration of the activity and position sub-tab, so this really doesn’t matter. Now this is the overall or the first thing you are going to notice on the activity and position sub-tab.

Activity List

And if you look at here you have this green arrow pointing up. If you click on it you are going to get the order book. This is very interesting because this is going to give you all the orders that you have sent to the market, whether they are filled, working or cancelled. An order that’s being filled is looked up here, as a field order making you a profit or a loss. A working order is an order that has been sent to the market or has not been filled because maybe it’s a limit order to sell higher or a stop order to buy higher. And a cancelled order is an order that you sent but cancelled before it got filled. The more orders you send out or cancel, the more orders are going to be here on the order book, but it’s interesting to see the order book after your trading day because you can see if you’re over trading your account or not. And of course if you click on the bottom right corner of this square right here, you can choose to watch working only, fields only or fields and working, which is the one that I will look at. Now let’s go back up to the activity and position sub-tab.

Positions list on thinkorswim

You can see right here that we have one order to sell two contracts of the E-mini S&P 500 at $1,977.75, which is good until cancelled. We have two field orders, which is the futures order right here, and the Forex order right here, and we have one cancelled order, which can be seen right here, which is an order to buy the E-mini S&P 500 that I cancelled. Now this is the overall look on the activity and position sub-tab and this is what you know and what you will find there. But there are a couple things that you have to look at again. If you click on the circle right here next to the order, you can cancel the order or you can copy or duplicate the order, or you can create an alert. And if you create an alert, the platform will alert you once this order gets filled. Now when you want to create an alert, you can see that the order to sell the two contracts on the E-mini S&P 500 is all the way up here.

Screen Shot 2015-10-26 at 12.21.14

If you click on the order right here you can modify it and put it wherever you want. You can choose how to get notified by clicking on the bottom right corner of this square right here with a bell, with whatever sound you want right here. Now the order has been modified and the alarm has been created. Also, if you hover your mouse just to this right of this circle, you can see that you have a plus sign with a folder. If you click on it you can put a note on this particular order for future reference. For example we’re going to sell a rally, if it rallies to $1,977.75. This is basically what you need to learn about the activity and position tab within your thinkorswim platform.

Adam

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