Watchlists and Quotes

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Video Transcript:

Hello traders, welcome to the thinkorswim tutorial and the seventh module MarketWatch Tab. In this lesson, we’re going to go through the Watchlists and Quotes sub tab on the MarketWatch tab on thinkorswim platform. And while I know we already went through with how to create the watch list on the first module introduction to thinkorswim, but we’re going to take a step further into the information that you can really get with them. So without further ado let’s go to the thinkorswim platform.

Market Watchlist on ThinkorSwim

Now let’s go to the MarketWatch tab and the Quotes sub tab, and as you can see here we have a list of stocks, and these are the top 10 gainers today of the NASDAQ composite index, okay.

You can see the list name right here on the top left corner of the thinkorswim platform window. Now what’s important here is that with these two arrows you can go back and forward on the lists and the watch lists that you have created. For example, if you go back it’ll take us back to the watch list that we have already watched, okay. And if you go forward, you will go forward to the watch list that you have seen in the past. Now this is important because, well, you might want to check once in a while the depth of your watch list.

For example, let’s go to the daily futures watch list that we use every day. You click on the wheel, then you go to personal and you can see right here that we are on the…we can look at the $5 to $20 stock lists that we created the daily future, the indexes, other quotes.

Let’s go to the daily futures and you can see that you can look at the quote trend. This is very important because for example, if you are looking at the overall picture of an asset and you want to see the immediate trend of crude oil for example, you can look at, well this very visual representation of the trend, which is very green for the moment, which means that we’re in a bullish immediate pressure.

So if we go to the charts, you can see that right here, let me grab the pointer again, we are in fact bouncing from the 100% retracement at around 44 59 level, okay. So we are immediately bullish on light sweet crude oil futures. Let’s go back to the MarketWatch tab and you can see also the net change of CL and of course the bid and the ask.

Market List on thinkorswim

But what’s more important here is the volume trader price, okay. And you don’t want to be trading very thin markets, because you actually get terrible fields. And well, you can get no fields at all actually, if you trade thin markets. And you can see right here on the CL or the crude future that we have traded 331,000 contracts today which is a very, very, very good volume on a daily basis for crude.

And of course, the other important information is, besides the volume of course, the open, the high and the low of the action. Why is that important? Because well, sometimes these levels will act as a port of resistance and you are going to find big buyers or sellers around them, so it’s very nice to know which direction crude is going.

For example, right here you can see that we opened at 46.54 today and we are down at 45.06, which means that we are buried for the day, but where we made a high at 47.15 and low of 44.51, which means that we are at the low for the day, which means that we are bouncing.

So this is a lot of very important information to go through and of course, you can also use the Quotes sub tab of the MarketWatch tab as a scattering. For example, if you want to go to let’s say that we want to look at the top 10 gains on the NASDAQ. Okay you just go here and you will get the quotes that have the biggest changes on the NASDAQ composite okay.

And just by clicking on net change you can have them all first up here at the top of the list, the biggest gainer on the NASDAQ, which is HRTX and you can look at the volume trader today which is amazing. I mean 7.4 million shares traded today and a net change of $6 for a $40 stock, it’s incredible.

So let’s go and look at the HRTX chart to look, HRTX, to look at the amazing well, move that this stock had from, well, from the high 32s to the mid 45s in one single session or just at the opening bell. And you can’t find these stocks without knowing how to work your Watchlists and your Quotes sub tab.

Adam

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