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I still use Think or Swim, mostly for scanning stocks that are down (at least 20% etc), or premarket most declined. Also for watching my stocks premarket (before 7 am......Fidelity Active Pro does not show the extended hours data until 7 am, because that's when Fidelity's premarket trading starts).
One place I get feedback with Technical questions (on Think or Swim, or Fidelity Active Pro etc) is Reddit.
https://www.reddit.com/r/thinkorswim/new/
Usually, you will get an answer fairly quickly. Good luck! 👍️
So today was supposed to be my last day on Street Smart. When I logged in it kept saying unable to connect. I thought maybe I got the date wrong but looked at my email and it said it would work until end of trading day today. Was able to log into web site. Got on phone early and after waiting 40 minutes realized this was due to the outage. Don't even try to transfer funds today. You may run into problems even if you do connect.
So I guess Monday is my SinkOrSwim day and I thought you were the one who would throw me a life preserver but I guess not! lol
I use Etrade Pro for trading with those accounts but I need a platform to trade from when using my Schwab account. I can't trade off a website.
Well, Schwab StreetSmart Edge is finally history. I have actually found that Fidelity Active Trader Pro is the best platform for me now rather than Think or Swim. It actually has a few features I like that StreetSmart Edge did not have.
I only use the platform for real-time streaming watch lists, so I don't need the 8000 bells and whistles for charting, trading etc. That Think or Swim has.
I hope you are navigating through Think or Swim ok, but I believe you were using Etrade Pro for your trading anyway?
EDIT: I've noticed I can't transfer funds within Schwab accounts this morning, possibly due to the global Crowdstrike IT outage? 🤔
It's working now. StreetsmartEdge and Schwab.com and ThinkorSwim. AI got frustrated and threw a tantrum 🤔
Wow and I did see it mentioned by someone else too. Hope it gets fixed for you and that mine doesn't have problems now that I said something. The old traffic "we're making great timing" jinx! lol
I can. I was complaining that Yahoo Finance offers free quotes, but I can't get realtime quotes at Etrade.
But I don't just want quotes, I want realtime streaming watchlist. No biggie, I can watch things at Fidelity.
Not sure why you can't access Yahoo Finance and get real time there.
I can't use power Etrade because, of course, they have delayed quotes lol. Even Yahoo Finance website has free realtime quotes, but me as a customer for years can't get realtime quotes, I don't have enough funds in the broker apparently. Stupid
Maybe you are on a different server than I am on.
hmm. Still not working for me. It was working earlier this morning just fine. I'm not the only one, plenty of people on Reddit are complaining they can't get into ThinkorSwim
Streetsmart Edge working on my end
Think or Swim platform AND Streetsmart Edge are both currently down. 🙄
Definitely acclimate yourself while you may still be able to use both and make comparisons.
oh, that's right. Forgot about that. I had both Schwab and TD Ameritrade accounts all along, so I can log in now, I just don't like it lol.
Well i tried it and they won't let me trade out of it until I disable Streetsmart. So I will wait until July.
I haven't been playing with Think or Swim at all lately lol. Gonna be a rude awakening. I guess I'll start using it each week now (just a little).
I'll email you for a life raft if I feel like I am sinking.
Just got my "Warning Will Robinson" from Schwab. Your StreetSmart® platform access will be disabled during the week of July 15, 2024.
SinkorSwim here I come - better take some swim lessons!
I just got back from pickleball and am getting a late start here. I noticed Pro was not behaving and I thought it was on my end. Thanks for the heads up.
wait time on phone 30 mins and im holding
Etrade still down for me. jeez. I'm glad I never use them 🙄
i noticed that too, cant log in no matter what i do. omg!!!
seems like Etrade is down, or not functioning properly. Nice timing right at market open
I think Ihub is really more of a site for active traders or position traders. Not too many long term investors post here. I think you need to be long term for passive income to work.
I don't know Andy Tanner - never heard of him. I'm also not an options trader so can't help you with Iron Condor questions.
Passive income within the stock market would be to buy quality blue chip stocks that offer high yield dividends. I do have some long term holds and that is what I buy. Most of them like VZ are boring because they don't move a lot but they yield a nice dividend. Short term bond ETF's like sgov are also good for passive income. You get a decent yield right now for doing nothing.
Paper trading is fine for learning but don't ever think that if you do well paper trading that you will duplicate it in the real world. There is a whole psychology when you are trading with your own real money vs fake money.
My time machine advice to myself would be to never become a bagholder. Sell and take losses while they are small. But this is advice for a trader, not an investor.
Sorry I couldn't answer most of your questions since passive long term investing isn't really my thing.
Bare with me here, got a bunch of dumb new guy --about to shoot himself in both feet— questions that will make you laugh. Not expecting any single person to answer all this. Advice on any of it is much appreciated.
Some people talk about stocks and options as generating cash flow or passive income. Or maybe it’s far more than “some” and I just don’t know it yet. That would be the direction I’m most fascinated with and eager to learn. If you happen to know some great online courses to take regarding stocks and options for passive income, please let me know what they are.
Till now I’ve spent the majority of my time reading and listening to Andy Tanner. Have not yet heard him say the words Iron Condor but other people have said that’s a main strategy of his. Is it true that an Iron Condor can generate long or medium term passive income if properly understood and properly executed? Or, do you have a suggestion for a better angle(s) regarding passive income through stocks and options?
Has anyone worked through Andy Tanner’s online courses and could say if they were effective or not?
Not sure to what extent this part is related to Iron Condors, but supposedly Warren Buffet acquired his shares of Coca Colo in a way that could be considered passive income. Meaning, he sold options for a while, made over 7 million doing this, and after the strike price hit he bought the shares while they were temporarily below their true value, which meant they would bounce back to normal in the near future. And although he still holds them today, nothing would have prevented him at the time from selling them at a profit, then start the process over on a new stock. If this method is not the underlying concept behind an iron condor, then what is this tactic called? Is there a book, video series or online course you recommend for this approach?
Next... There is a simulator put out by Investopedia which they say mimics market behaviors to help people practice. Has anyone tried this? Did you like it? Is there a different simulator that anyone would recommend? Are there strengths and weaknesses between different simulators?
People also say that you should set up a virtual account so you can digitally “paper trade,” and that way, everything you think you understand in theory will become hands on real world learning experience. Does anyone recommend a particular website or websites for digital paper trading?
And finally, if you had a time machine to bring you all the way back a year or two after you first began trading, have a cup of coffee with your younger self, what sorts of things would be among the MOST important advice you would give?
Please and thank you very much.
I would say Fidelity. Commission free to buy them, unlike Etrade or Schwab
What is a good broker for OTC stocks? Im in the United States.
Yeah, I have been using Pro for many years and tried Power Etrade once and wasn't crazy about it. That was when they phased out Market Trader which I really liked but that was a long time ago. I have no idea what you are talking about when you said Milestone Card.
Beginning on May 28, 2024, the new standard for settlement will become the next business day after a trade, or T+1.
This isn’t the first time such a change has occurred. In 2017, the SEC shortened the settlement cycle from T+3 to T+2.https://www.finra.org/investors/insights/understanding-settlement-cycles
Definitely not user friendly.
yes, I'm using a spreadsheet to calculate total cost basis. Using Libreoffice Calc (which I love, free software). has all the stuff Microsoft excel has, at least for my purposes.
I can't see that I can break down each purchase lot separately on tastyworks, but I haven't played with it enough, since I don't use it much. I have gotten the data I need, so I'm satisfied. I just thought it was crazy I couldn't easily find the value of shares in that broker
Yeah, that was exactly what I meant. I think you wanted that value for each individual stock and then a total of all of them at the bottom, no? They should show what the market value of each one is. You are trying to make a data base with all your positions from all your brokers? Can't you use a non-broker application? Like Yahoo's portfolio tracker or Microsoft Excel?
Yeah, I don't know. Net Liquid value is close enough to market value for my purposes, but why does it have to be intentionally confusing? Maybe I'm overlooking something, but I shouldn't have to take an advanced trading course just to see at quick glance, exactly what my position is worth.
Sorry, just looking at this now. These are terrible metric descriptions. Does it give you Net Liquidation Value for each individual entry? Usually net liq value includes all positions, no? Schwab calls it "position value" and Etrade calls it "market value." I would think that net liq would be the choice but what the heck do they mean "calculated from mid price of the position?"
Net Liq: Net Liq is short for “Net Liquidation Value.” Net Liq is calculated from the mid-price of the position. This number is dynamic and will move according to the market price.
ok, so I'm trying to figure out my cost basis for a few stocks that I've owned for over a year. I have shares in multiple brokers and multiple accounts.
I have a tasty works account. On the web site's positions page, I'm simply trying to add to the column, the value of the shares (current price multiplied by number of shares). And I can't for the life of me, figure out what category it is.
There is a list categories I can add to the columns, the following is a list of all the glossary terms that I can add. But there isn't an obvious one like VALUE lol.
Maybe I'm overlooking something obvious, but any idea what it is?
EDIT: I guess, it's net liq It's not exactly what I want, because the numbers do not calulate exactly right based on currently share price, but it's close. You'd think they would just call it MARKET VALUE, or something obvious 🙄
https://support.tastytrade.com/support/s/solutions/articles/43000471741
I will miss my little "all in one" pop up window. It gives me all the information I could want. Including if it's Nasdaq, NYSE, OTC. If it's trading halted. Extended hours gain/loss. L2 data, time/sales.
With all the bells and whistles on TOS, I can't seem to find a quick, easy way to get all that info. I'll just have to make do with less convenience.
I will have to try and open it up and see if I too can use both. I would rather learn how to use it while I can still access StreetSmart. I will try to look into it tomorrow while I have more time. Make a list of all the things you can't do and want to do - wait till you have a bunch of questions and then call them. I'd like to get on that new platform when you are doing it so we can exchange ideas. I'll email you once I have it going so we don't bore everyone on this board.
Yep, I can use both. There is actually a web-based TOS which is a little better for my needs. But it's still nuts that I can't get basic things the StreetsmartEdge streaming watchlist has (like an easy indication the stock is halted, or extended hours performance).
There may be ways of navigating through the labyrinth of settings, and customize a bit better, but I shouldn't have to take a 4 month online tutorial to figure it out lol.
I didn't know you can use both right now. I thought once you go over to TOS they disable StreetSmartEdge. That's what happened when I first tried TOS months ago. They had to enable Streetsmart again for me when I decided I didn't like TOS
I still have Streetsmart Edge. I will use it until I can't. I suppose I could add another $100 or so to my Etrade account so that the Power Etrade platform has real-time streaming quotes, but I'm not too crazy with the Power Etrade format. I'm sure the Etrade Pro is much better, but I don't plan to add enough funds or trade frequently enough to fulfill the requirements to get it.
I have the Fidelity Active Trader Pro platform, but that is not good at all.
So far, I guess TOS will be what I use. It's not nearly as user friendly as StreetsmartEdge (at least for my needs). I very rarely buy OTC stocks anymore. The OTC stocks I have in Etrade, have been sitting in there for years. I've forgotten about them (which is why I'll get surprised with a $38 reorganization fee). At least I consolidated them into one account. I used to get surprised with multiple $38 fees 😬
Hope you have a great trading day today. and all year!!
I have the perfect solution to that problem with etrade. Don't trade any otc stocks anymore! This way you will save on commissions and you are more likely to never incur that $38 fee since the big board stocks don't reverse split the way the crappy otc's do. I sound like an alcoholic who is on the wagon trying to do an intervention against otc trading! lol
As far as TOS did you voluntarily switch over or did you get forced this week to do it? Because I got that letter awhile ago and am still using StreetSmart. They are immediately forcing new customers to use TOS. I will wait until they force me to switch:
All other StreetSmart users will have StreetSmart platform access removed between April and August 2024 and will be notified at least 60 days prior.
Never lol. I was charged $38 recently because one of the old .$0.02/share stocks I own, went through a reverse split, and I didn't realize it. So the $38 reorganization fee hit me. I called in, hoping that they would reverse it, of course they did not. And so, they wanna charge me $5 per stock (and I have about 15 of them) to get rid of all the old very low priced stocks, so that another unexpected reverse split fee is not incurred.
I will either sell them outright, which will cost me $2.95 Commission, or just be a lot more aware of when reverse splits hit the OTC daily list.
But I really want nothing to do with Etrade anymore. I used to have day trader status with them (over $25k) so I never had to worry about $38 reorganization fees they would just be reimbursed, but now they won't even entertain the idea of waiving it. Only have $900 or so with them now.
However, it's a rather easy process to import my watch lists from street smart edge, over to think or swim. So I guess I'll be using thinkorswim.
I'm already noticing so many little things, that I can do in street smart edge that I cannot ( so far anyway ), do and think or swim. For example, right click a stock and an easily get a chart. Once I have a chart, I cannot easily zoom in or out using the mouse wheel, have to use the little plus, minus magnifying glass icon
I will make do, but wish I didn't have to 🫠
OMG no wonder! It may be worth it for you to just park some money in there so you can use it.
delayed quotes. Reason number 5067 why I hate Etrade lol
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