How to Set up Maurice Kenny’s thinkorswim chart setup for day trading success
When you open thinkorswim (TOS) for the first time, it may be confusing with its abundance of complicated settings. The standard thinkorswim workspace comes with several tabs and screens – many of which you do not need to follow my trading strategy. In TOS, items such as chart set-ups, templates, and workspaces can be shared with other traders.
My trading strategy offers a simple plan for success, which involves a simple and easy workspace to control. My workspace only includes the tabs and screens that are most essential to save you time and lead to success. These features include two basic charts and the active trader.
So, there is no need to get frustrated with more available options, such as scan, news, additional windows, indicators, analytics, or even multiple workspaces.
We keep it simple.
Below, you will find a 1 hr video on how to use thinkorswim along with instructions for uploading my TOS workspace onto the ToS platform.
How to Upload My Workspace in 5 Mins
- Go to my website. Click “Get My thinkorswim Workspace” at the bottom, followed by the “Get it Now” button, and type in your email address.
- Your free custom thinkorswim chart setup will be delivered to your inbox, which can then be downloaded and uploaded to your TOS platform.
- You will receive two viewing options: desktop and laptop. Select the workspace view that works for you. The desktop view offers a larger screen, allowing you to simultaneously view the 1-min and 5-min charts.
- To obtain the link for TOS, click the link located in the top right corner of your screen.
- Copy the URL in the browser.
- In the thinkorswim platform, go to the top right corner, click “Set Up”, followed by “Open Shared Item.” A window will pop up for you to “Share URL” where you will paste the link you copied earlier.
- The new thinkorswim chart setup will be imported automatically with lots of beeps, dings, and pop-ups.
This new workspace will show four quadrants to improve your trading workflow and trader workspace, which are described below.
The Four-Quadrant Workspace Layout
The Four Quadrants (Desktop View) Contain:
- 1- minute chart (top left)
- 5-minute chart (bottom left)
- Active trader (top right)
- 5-day / 5-min chart (bottom right)
Charts
Define a time range (in this case, 1 min and 5 min). These charts show the accumulated price data for one candle.
Volume
The total number of shares or contracts exchanged between buyers and sellers during trading hours. The volume of trade measures the market’s activity and liquidity during a set period.
VWAP
The Volume-Weighted Average Price is calculated during a specific trading session by taking the total dollar value of trading and dividing it by the volume of trades.
Additional Information
As a day trader, you are likely to engage with the following features and tools on a regular basis: monitor, activity and positions, and account statement tabs.
Monitor Tab
The primary location where your trading activity within the market is tracked. This includes many kinds of data: your orders, positions, statements, cash balances, and trading account status.
Activity and Positions Subtab
Your today’s trade activity and position statement. Allows you to customize your columns, create groups, and arrange your current positions by order.
Account Statement Subtab
A detailed snapshot of your position’s current metrics. Gives you a snapshot of your entire account.
Summary of the thinkorswim Chart Setup
Your new thinkorswim workspace will help you organize and view your trading activity in a simplified manner to efficiently concentrate on your trading strategy. The workspace above works well with options trading, particularly my trading strategy. However, you are welcome to optimize the workspace to suit your preferences as you develop.
At this moment, I am sharing a workspace that has helped me and other traders gain success without a complicated strategy or a ton of technical indicators.
So give this workspace a try and tell us what you think. This workspace is very easy to learn and manage, even for a beginner trader. download my workspace and upload it into your TOS platform.
I have a team of profitable day trader coaches who are available to assist you in learning how to implement this workspace with a proven winning strategy. We are here to help you become a profitable day trader and realize the profit potential you desire.
In addition, many of the people I have helped reach their full potential in becoming financially free started by watching this free 1-hr webinar
Also download a ( FREE E-BOOK ) by Maurice Kenny DAY TRADE LIKE A MILLIONAIRE.
Comments 3