Tuesday, May 19, 2009
I'm looking into switching my broker. I've heard several referrals to ThinkOrSwim, so I've been checking them out. This platform allows access to Stocks, Options, Futures, Forex, and has a built-in pattern scanner. It's quite a bit to take in at first, like drinking from a firehose. But, they have online tutorials, demos, webinars, and a paper trading account to help get warmed up.
I don't consider myself too sophisticated to be looking for a bunch of particular features just yet. I have some charting techniques that I'd like access to, which I usually use through Prophet.net. TOS has prophet charts built in, so I'm liking it so far. As for the other features, I'll have to check them out to see if it's worthwhile for me. StockCharts.com is a great site, too. But I'm not paying for their premium services yet, so I'm still missing out.
The main reasons I'm looking for switching is access to FOREX, and more versatile charting tools. I'm actually hesitant to check out the other retail brokers that advertise on TV...simply because they advertise on TV. It goes against my philosophy of avoiding herds. You know what I mean.