How can I maintain a more global perspective with my trading?
I don’t know. Like…travel more? Just kidding. Even though most of my trading is domestic, we all know how important it is to maintain an opinion about the state of the global economy. Without question, reverberations from markets abroad can be felt deeply in our own markets.
A few months ago when things started heating up in Greece and then China, we realized we had a huge gap to fill in our international data offering. So lately, we’ve started to roll out international exchange data on thinkorswim® and Mobile Trader so that you can stay more in tune with the global markets. And this was no small feat. We’ve been sending agreements back and forth to faraway exchanges like the Baltic exchange and Bovespa, where I’m pretty sure floor traders deal in wampum. You’ll see more exchanges start to slowly be added. Just keep an eye on the International Indexes public watchlist. Ooh la la!
Any new products I should be aware of?
New products are rolling out all the time. And most of them are total snoozers that traders have little interest in. Weekly VIX options is the latest product that’s actually gaining traction. When you consider the fact that SPX Weeklys are responsible for about 30% of all SPX volume, you just know that VIX Weeklys will become a popular product.
For mobile, we now have in-app mobile chat. That’s right. You can now message back and forth with service support representatives in TD Ameritrade Mobile Trader. In addition, you can even share your screen with them so they can teach you how to navigate the app.
I have friends who want to learn how to trade options. Any advice on the best way to get started?
For the better part of the past year, my team has worked tirelessly to build a tool that will help equity investors better understand how to trade options. It’s called Trade Finder and it’s located in Trade Architect. See “Toys for Traders” below for where to find it.
Trade Finder is to options trading what GPS is to a road trip. It helps you navigate a way to get from Point A to Point B. To get started, all you need to have is an opinion about an equity, optionable index, or optionable ETF. That opinion should be based on where you think it’s headed and when you think it will get there. In addition, the tool allows you to pinpoint the probability of success that you are looking for. Obviously, the higher the likelihood of a successful trade, the lower the potential return on the trade. Trade Finder will take your opinions about the trade and return all of the relevant strategies ranked in order of probability of success. In addition, if you don’t understand a particular strategy, Trade Finder even has descriptions of the trade to help you to understand what it’s seeking to accomplish and the potential risk/reward.
Check out this video that brings the features of Trade Finder to life: