For Your Consideration: An Ameritrade Review


Day traders are a specific type of investor. Traditional investors usually go for the buy and hold, long-term strategies. That is not the game of the day trader. What a day trader is is something that traditional investors don’t really sync with. So traditional investors look at online brokerages in a different way from day traders.

So the day trader needs a platform that emphasizes speed, ease of trading volume and lots of information at the ready. The question to be answered by this Ameritrade review is, can Thinkorswim be that platform. Thinkorswim is Ameritrade’s proprietary platform for at-home investors. An interactive broker like Ameritrade must provide traders with the tools needed to be successful. That is what makes for a good online brokerage.

Research is such an important part of trading and Ameritrade shines on the research side. Users can use stock scanners to search for stocks and options, look at advanced charts and heatmaps and then use built in tools to figure out the long term prospects of a stock. The wealth of third-party research is an other point in Ameritrade’s favor.

Much like Warrior Trading and other day trading education sites, Ameritrade also has a community of investors and traders that share stocks to watch and advanced charts. Communities for day traders are very important because it can be such an isolating career. Being in an online chat room with other traders can also be beneficial to new traders. Learning from others is a great way to get better and learn how to make more profits.

The analysis tab on Thinkorswim, Ameritrade’s proprietary platform, can give a picture of an active risk graph that can give you a look at almost any possible trade. To see what could happen in a trade is very valuable. It gives a trader a chance to have a plan for their trade, which is very important.

Mobile trading is very important for Ameritrade’s platform. Many of the users actually use the platform on Apple or Android devices to make real trades. The interface on a mobile device works just like the desktop platform, funding accounts, making trades and watching breaking news alerts. The whole world is going mobile and so is investing.

Day trading is such a fast-moving and crazy industry, the possibility of mobile trading is a nice option. You always need to be on top of your trades and timing is everything.

Two drawbacks to Ameritrade is the possibility of slow executions and the relative expense of the commissions on trade. Because it takes long to execute a trade, the platform might not be great for day traders. And because the commissions are relatively high per trade, a high trading volume might eat into your profits.

So choose your trading platform wisely, because it has a very large effect on your profits and your career. Beyond keeping a profit/loss ratio in the black, finding the right trading platform is crucial to make a real career out of day trading.

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