THINK OR SWIM LEARNING EXPERIENCE-
Objective -
The goal of this experience is to learn how to trade derivatives on an actual trading platform. You will learn much more about futures and options when you trade these products. Additionally, learning the trading mechanics will boost your confidence during interviews, internships, and jobs.
Installation-
To install the ThinkorSwim platform you must first register with TD Ameritrade. Use the link below for the registration. You will receive an email with instructions on how to download and log in after you sign up.
https://papermoney.thinkorswim.com/tos/myAccounts/paperMoneyInterface/paperMoney.jsp
To learn more about the platform, watch the videos on their website.
https://tlc.thinkorswim.com/center/tutorial.html
https://tlc.thinkorswim.com/center/video/videos/Account-Summary
https://tlc.thinkorswim.com/center/video/videos/Use-the-News
https://tlc.thinkorswim.com/center/video/videos/Buying-and-Selling-Stock
https://tlc.thinkorswim.com/center/video/videos/Placing-Futures-Trades
https://tlc.thinkorswim.com/center/video/videos/Placing-Option-Trades
Trading Requirements-
You must report 20 trades. For example, if you buy 1 SEP futures contract of gold that is one trade. Each trade must have the following details:
1. Type of security: stock, futures, or option
2. Position: Open or close and long or short
3. Description of the trade
a. If stock: bid and ask prices, price at execution
b. If futures: type of contract (gold, wheat, cattle), contract price, delivery month
c. If option: option premium, expiration date, strike price
4. Explanation: provide at least one reason for buying/selling the security
5. News: include a news article related to the trade from WSJ, Squawk Box, Yahoo!Finance, ect.