Beginner's Guide to THINKORSWIM Let me know if you have any questions, I am happy to help! thinkorswim is a trading platform by TDAmeritrade. It is a powerful, free tool that allows users access to a whole host of technical tools for trading in the markets. In this video I help you familiarize yourself with thinkorswim to become more comfortable working its many tools. I by no means am an expert, but I have been using thinkorswim for a long time and am myself very comfortable working the program. I forgot to mention that you can change the number of charts you have in a grid. This option is available in the "Trade" or "Charts" tabs. If you look at the top R of the screen, on the third menu line down from the top there is a box or series of boxes. This is your grid edit button, which allows you to edit how many charts you have posted on your Trade or Charts screen. This is helpful especially for day traders who want to watch multiple stocks at the same time. Please LIKE and SUBSCRIBE for more videos! I'll see you in the next one! - Welcome to Trade Inquiry, the channel where I as the creator and you as the subscriber learn together how to improve our trading, investing, and finances over the long-term! Charting Platform: TDA thinkorswim: https://thinkorswim.com More Videos: https://tinyurl.com/y6vfy9y2 Most Popular Video: https://youtu.be/SFluV7adZK0 Common Sense Investing by John Bogle: https://amzn.to/2GAWlpj Trading in the Zone by Mark Douglas: https://amzn.to/2MZXckG ... https://www.youtube.com/watch?v=QkAhaW3wZPY

Price action of the DOW on 3/15/2021 This is a 5m chart; each candle represents 5 minutes of trading. The 9+ hour trading day has been condensed into 5 minutes in order to see the price action AND inertia behind the trading. Within the video, I've included an on-screen discussion about what makes trading so difficult. I've broken it down into 5 phases. I discuss the psychology of trading, a summary of what I have learned. Shout-out to Tom Hougaard. Script: DOW 3/15/2021 Market opens at 1:19 Let's begin Phase 1: Early Downtrend Notice the lower highs and lower lows Profitable traders "fade" (sell) the lower highs but there are always two sides... Phase 2: Support & Resistance Preparing for launch... Ready... Set... GO! Phase 3: Fake-out to Resistance, Trend Resumes How many of you got excited to buy after that first green candle? Trading is incredibly emotionally challenging... Market analysis alone is not sufficient... In the face of intense excitement, fear, greed, and regret... Trading demands intensive self-reflection... and while avoidance of pain is human... In order to succeed at trading... You must constantly accept failure... You must vigilantly accept pain. Sound easy? If it were, then 75-95% of traders would not be losing money. Phase 4: New Strength, New Trend It is painful to wait to see how the market reacts to support/resistance. It is painful to buy when the market is steadily rising higher. It is painful to hold onto a trade when the market starts taking profits away. It is painful to add more to your winning position. Imagine becoming a seller here... Fair choice, considering resistance... It is painful to place a stop loss... It is painful to let go of losing trades quickly. That requires you to admit you were wrong. and you will be wrong, repeatedly. Phase 5: A Trend in Motion Tends to Stay in Motion Imagine you were a buyer at 3:12 instead of a seller... What are you starting to FEEL now? How does what you FEEL influence what you THINK? You probably want to ACT and sell to prevent the pain of loss. Did you set an initial stop loss? Did you change it and if so, why? It is painful to hold on and add to winners, to accept that FEELING... This is trade management, this is self-reflection... I leave you with one final philosophy: Attitude is Everything. Music: "Evolution" https://www.bensound.com ... https://www.youtube.com/watch?v=UP4Uh0nci-c