As you will know, TOS stands for ThinkOrSwim.
Very Powerful Platform to trade US stocks
It is a very powerful platform to trade US stocks and much more. I personally trade with this platform. So does Karen the Supertrader, who owns over US$200 million account and apparently she uses only TOS platform as well. At least thousands of new traders start with the same platform too every year!
Everyone has one
The great thing about the TOS platform is that it is very scalable, from the extremely small account, to the largest retail account in the planet. You can trade this platform alone for the rest of your life. Every trainer that I know of, including those in this region like Adam Khoo, Daniel Loh, Leong Wei Ping, Conrad, etc. also recommends this platform to their students. You cannot go wrong investing some time to learn this powerful platform once, and reap the benefits for the rest of your life. :-)
Free Singapore Demo Account to start practice immediately
To open a Free Demo Account immediately, you can follow the instructions given by Adam to all WAI members here (click on the hyperlink). Please say thanks to WAI member "ST Loke" who kindly supplied us with this document. Loke has generously volunteered to help new members if they have problems on how to open this Demo Account, as well as many other members in WAI Penang Telegram group. Please don't hesitate to contact Loke or any members directly, or to shout in Telegram if you have problems.
The advantage of opening the Singapore Demo Account is that apparently, no lengthy approvals is required - just fill the online form, and after some validation, you're free to start immediately!
Tip by another member: No need to enter your real Singapore address to open the Demo Account. Any valid Singapore address will do.
Real Life Monies require US Account
When you are ready to trade real life monies, you will need to open a US account (instead of the Singapore branch Demo Account).
In effect, you open an account with TD Ameritrade, one of the world's top online brokerage company. TD Ameritrade is the company that owns the TOS software that you've been using.
To open the US Real Life Account and to fund the account in US$, please click here to follow the instructions. This file is kindly supplied by another generous member who shall remain anonymous. If you have any questions, please do not hesitate to shout in Telegram, as there will be many members who will be glad to help you.
How to use TOS
Because TOS is very powerful and is used by many professional and full-time traders, you will need to invest some time to learn the basics. There are many traders who just learnt the basics, and ignores everything else that TOS has to offer, and that is okay too. We don't all need to have PhD degrees to learn how to make money in the US stock market. It is okay to just start with learning 1%, and make $$$, and when we are comfortable and ready, to move on to learn the next 1% and so on.
To learn more on how to use the TOS software, please click here to see the guide. This file is kindly supplied by another very generous member who shall also remain anonymous. Treat this as just a "Reference Guide", since it can do much more than you will ever need. If you have any questions regarding how to use the TOS software, please do not hesitate to shout in Telegram, as there will be many members who will be glad to help you.
One Key Step to do - Open the TOS Account
If you are a complete novice to US stocks, and don't want to risk real $$$ yet because you have never traded stocks before (or not yet built sufficient funds), then, there is 1 Key Step for you to do NOW (if you haven't done it yet).
This 1 step is a MUST DO, because if you don't take this step now, you can never progress in your own development as a Trader.
This 1 step is to simply open a Demo Account. It's Free, and it allows you to learn the system, to experiment and "play with" an account that "looks and feels" almost similar to the real life account (perhaps slight delay in quotes if you haven't funded it yet), so that by the time you are ready to fund a real life account, your transition from Demo to Live is smooth and seamless.
So, go ahead and open the TOS Account (Demo or real life). Yes, it will take a few mini-steps to open a Demo Account, but it will be minutes of your life that is worth spending.
So, start making new friends in WAIIC Penang via the monthly meetings and/or the daily Telegram chats, don't be shy to reach out for help if you need one.
If you find it too difficult to follow the online guide, then, reach out to the Telegram Group in advance, and ask if you could bring your own laptop with Internet connection for help to install. Join a team, and seek out your WAIIC Team Leader for help. S/he should be able to connect you with someone in the Club, if s/he is unable to assist you. If you manage to have someone in Telegram/SMS/Private chat to agree to help you in advance, you have just taken one small but very important step towards your lifetime Financial Goals.
Good luck!
PS. One More Tip: You can never destroy a Demo Account and you can never go broke trading a Demo Account. This is the great thing about Demo Account. You can simply "hentam" and you will never break or lose real monies. It is an excellent platform to learn everything you ever wanted to try with a US stock account AND not lose any monies. Go ahead and try to double or triple your money, and if you go bust, so, be it. Just reset your balance back to $10,000 or any other amount you want and start the game again. It's like playing an online game!
No comments:
Post a Comment