Anyone Day-trading successfully from the TOS App

[bigmarket]

Anyone Day-trading successfully from the TOS App? It is a stripped down version of the real ThinkorSwim, seems difficult for day-traders. Especially when real money is involved.

[mariobros]

You can day trade from the Thinkorswim mobile app. However, it is important to note that day trading involves significant risks and requires a certain level of knowledge, skills, and experience. So choosing to do this level of trading from a mobile phone or any other hand-held device makes it even more risky.

The TOS app is also dumbed down from the TOS desktop app which adds even more challenges. Not sure I can say its a good idea or not because I don't use the mobile app for anything other than checking my account status.

[Kraig]

The TOS mobile trading app typically provides real-time market data, excellent charting tools, order placement functionality, account management features, and everything else you need to day trade from the TOS mobile app.

You can see it was designed to provide a user-friendly and convenient trading experience on the go. The drawback is that functionality is limited for many of the features you would want if you were day trading, most of the limitations are on charting and chart studies.

[PlaceboTrader]

TOS cell phone app is the best out there. You can day trade from the app as long as you're comfortable with limitations of cell phone day trading.

[jerrysein]

Using the Thinkorswim mobile app for day trading can present some unique challenges compared to using the desktop version. Here are some common issues that users might face and possible solutions:

Interface and Screen Size: The mobile app's interface is more compact, which can make it harder to view multiple charts, indicators, and order entry screens simultaneously.

Solution: Customize the layout to prioritize the most critical information for your trading strategy. Familiarize yourself with the app's features and shortcuts to navigate more efficiently.

Order Execution Speed: The speed of order execution on mobile can sometimes be slower due to network connectivity issues or the limitations of mobile processors.

Solution: Ensure you have a strong and stable internet connection. Consider using limit orders to have more control over your trade execution.

Charting Tools and Analysis: The mobile version may have fewer charting tools and customization options compared to the desktop version.

Solution: Do your detailed chart analysis on the desktop version and use the mobile app for monitoring positions and executing trades. Make use of watchlists and alerts to stay informed about market movements.

Battery and Performance Issues: Intensive use of the app can drain your mobile device's battery quickly and impact performance.

Solution: Keep your device charged and close other apps to ensure maximum performance. Consider using a portable charger if you are trading for extended periods.

Notification Delays: Push notifications for price alerts or news may sometimes be delayed on mobile devices.

Solution: Regularly refresh your app and consider setting up multiple types of alerts (e.g., email and SMS) to ensure you receive timely notifications.

Risk of Distractions: Mobile devices can be a source of distractions, such as incoming calls, messages, and other notifications.

Solution: Turn on "Do Not Disturb" mode during your trading sessions to minimize distractions.

Limited Historical Data: Access to historical data and in-depth market analysis might be more limited on the mobile app.

Solution: Conduct extensive market analysis and review historical data on the desktop version beforehand. Use the mobile app for real-time monitoring and execution.

Learning Curve: New users might find it challenging to get accustomed to the mobile interface and functionalities.

Solution: Spend time learning the app's features and practice with paper trading on the mobile app to gain confidence before trading with real money.

For optimal day trading experience, it's often best to use a combination of the TOS desktop platform for analysis and a mobile app for monitoring and executing trades when you're away from your computer. Don't be a fool and don't gamble with the Thinkorswim mobile app by itself.