Think Or Swim Platform

[Jumbo123 10]

Hello guys,

 

I have a quick question. Currently I am using Tradestation to trade ES futures and happy with it. I came across a trader friend of mine who uses Think Or Swim to trade. He said that there is no data feed fee at all. Right now I am paying close to 3k a year to trade on Tradestation. What's the real downside of Think Or Swim? Please advise. Thank you.

[hogsmile 10]

It's a fabulous platform. However, the data fees you pay each year are really the least of your concerns (or should be). It's like flying a jet (TOS, or Tradestation). Unfortunately, the learning curve is rather steep.

 

It really boils down to whether you have sufficient time, self-discipline and market "aptitude" (I guess that's one way to say it) to learn how to use the platform EFFECTIVELY. The only way to find that out is to download it and use the "Paper Money" test trade element.

 

Also, check out this part of the TOS website:

 

https://www.thinkorswim.com/tos/displayPage.tos?webpage=onlineSeminar&displayFormat=hide

 

and this website:

 

Investools Investor Education: Online Stock Investing Tools & Training

 

Investools is heavily involved in TOS-user education.

[TS_Securities 10]

Another thing to consider is cost. Although ToS doesn’t charge for the platform or data, your overall cost for ToS may be higher because their commission rates are much higher than TradeStation’s. After several round turns per month, you’ll end up paying more for ToS than for TradeStation, even after paying data fees in TradeStation.