It seems as most online brokers and their trading platforms have been created for stock traders. Many charge monthy fees unless their client makes a minimum number of trades (such as 25 round trips) that month.
For single leg stock option trades (buy a call or buy a put), most trading platforms will work ok. However, in my opinion, when a stock option trader really starts to have some fun by trading spreads (such as buying one call and selling another call), the basic stock trading platform is just not good enough. Managing spread trades is so much easier if you use a trading platform that was made for stock option trading.
One such broker and trading platform is Think or Swim. While it is a rather strange name, I think what they offer is incredible! Their charting with indicators, profit and loss diagrams, probability, watchlist capability, execution, news, scanning is everything I need. I could go on and on about what they offer, but rather I will encourage you to open an account – even if you do not plan to fund the account in the near future.
Here is the website: http://www.ThinkorSwim.com. Click on the “Open Your Account Now” flag on the left. Yes, there are a few forms that you will need to complete. I recommend that you download the desk top/web version. (There is also a mobile version, but I have not used this.)
If you type in my name as the person that referred you – that would be great! I thank you for that.
You are now ready to paper trade. Congratuations!
Need some help getting familiar with the platform? Complete the form on the upper right corner of my blog and I will help you. Save your time, eliminate frustration and make money with one on one coaching!
Trading Coach Jo
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