Q: There are so many ways to find trades in thinkorswim®. Are there any features that you particularly favor?
A: Yes! But the one I like the most is as hard to find as a perfect pair of strappy Louboutins in the back-bottom shelf at a Barney’s sample sale. It’s called Trade Flash—a new widget you can apply to your left-hand sidebar. Just click the “+” icon on the lower left-hand corner of the left-hand sidebar and select “Trade Flash.”
The commentary you’ll see in Trade Flash comes from a group called Hammerstone. The dudes and dudettes at Hammerstone have built a network of over 600 individuals, primarily institutional. These traders communicate with one another to share ideas and interpret breaking news. What you see in your Trade Flash gadget reflects their immediate, collective thinking. But grammar mongers beware—these guys couldn’t give a flying theta about punctuation. They’re too busy pumping out perspective in the here and now.
I like Trade Flash because it pulls my attention to names I might not have been looking at. At the same time, the note is accompanied with sharp perspective. Just the other day they mentioned that a well-known trader had just entered the pit, who has a reputation for buying in small increments so as to not call attention to the entirety of his gargantuan orders. And wouldn’t you know it, the markets started spiking.
Q: What’s the best way to get started trading options?
A: I recommend subscribing to RED Option during your learning curve. The strategists at RED Option will email you detailed trading ideas. They’ll reveal their methodology behind the trades, the risk/reward, and their exit strategy. Think of RED Option as training wheels for new options traders. Start by taking their trades and placing them in your paperMoney® account so you can learn how the strategy reacts to living, breathing markets.
When you go to sign up, tell them The Suit sent ya by using coupon code EXPLORE at the checkout. You’ll get your first month free.
Q: Best trade ever?
A: Ever? I shouldn’t kiss and tell. The best is yet to come…
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Read more of Nicole’s musings on the Trading Perspectives blog.
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