Please RSVP under this listing if you will take part online from home rather than attend at the Library in person. Here is the link for tonight's meeting. Please join the meeting from your computer, tablet or smartphone.
https://global.gotomeeting.com/join/199562893 Thanks very much to InvestiQuant, Matt Ratliff and Scott Andrews for their help with this.
In the event of any difficulties at the start of the meeting that require a change in the URL, please check here for any update.
The entire meeting will be carried over the web and you will be able to comment and ask questions during the meeting via the meeting software.
You can either take part from home over the Internet or join us in the Library. If you will attend in person at the Library, please RSVP at (https://www.meetup.com/rdutraders/events/246068577/) instead of here.
Our long-term member Michael Rulison has kindly agreed to give a detailed Hands-on Demo and Walkabout on trading using the popular ThinkOrSwim platform. We have had many requests for Talks accessible to newer Traders. This one will help fill that bill. In the second hour, we will have a full Panel discussion of prospects for Trading in 2018, including a review of 2017 results and the implications of changes in the Volatility Regime for options income strategies.
There is a consensus that ThinkOrSwim is the best low-cost platform on which to start trading options. Many, many of our members use it. It is technically competent, feature-rich, and robust. It is more usable than the platforms sponsored by other brokers. It is one of the standards always referred to in all Options Educational Courses. As to cost, it is totally free if you open an account with TD Ameritrade. (There are some higher-cost paths as well that we can mention).
For those new to trading Options, come to this talk, open a TD Ameritrade account with zero or more dollars, and try some paper-trading and/or light real trading. (You will need a strategy and risk management plan too, but those are topics for other talks).
This talk should be more helpful than some on ThinkOrSwim because Michael will be coming at it knowing what facets of the platform are useful for the major strategies that our members are actively trading and discussing in our meetings.
Michael will give a detailed Hands-on Demo and Walkabout in ThinkOrSwim. He will show how to set up Quotes, Order Entry and Order Analysis, price slices and 'greeks'. Conditional orders will be included if time permits. He will show how to enter options spreads with multiple legs, typically used in income strategies. He will show how to model graphically the future evolution of spread positions under a range of movements of the underlying.
Turning to customization, he will show how to move data to and from an external spreadsheet for analysis.
ThinkOrSwim includes a tool called ThinkScript, which allows adding your own studies and strategies to the platform. Time permitting, our speaker will briefly introduce it. We can plan a later follow-on meeting to go into it in more detail.
Michael considers himself a relative newbie, with a couple of years of fairly active trading. He says that he is a "work-in-progress". All the better, in our view, to demonstrate use of the platform to those who may be less familiar with it.
Most of all, Michael will aim to convey the ready usability that ThinkOrSwim provides to new traders, which makes it so popular.
Michael 's talk will take the first hour of the meeting.
In the second hour, to round out the level of the meeting, we will have a panel discussion on how some of our members are planning on Trading this year 2018, taking into account recent market behavior.