How to Use the Monitor Tab on thinkorswim®

August 28, 2023 Beginner
The Monitor tab on the thinkorswim® platform offers information about your trading accounts, account positions and performance, and other key data points.

Most traders and investors like to have critical information about their trading accounts, holdings, and activity readily available. The Monitor tab on the thinkorswim® platform puts important data about your trading history in a single primary location, making it easy to find your orders, positions, statements, cash balances, and trading account status.

The Monitor tab also allows traders to organize their portfolio by type of investment. For example, a trader could group trend-trading growth stocks, dividend-income stocks, and credit spreads.

Traders can customize the columns within each group (see image below). For example, a trader might add the columns for P/L %, Net Liq, and Trade Price in each group but only in groups dedicated to options positions include Days and Theta.

The Monitor tab acts as an information hub that includes your trading history, position inventory, and financial activity. Its subtabs include Activity and Positions, Account Statement, FX Reports, and Strategy Roller.

Monitor tab on thinkorswim

Image illustrates how the Monitor tab displays account information, including positions, history, strategies, and more. The image also illustrates how users can customize their view by investment type and customize columns within each group.

Source: thinkorswim® platform

For illustrative purposes only. Past performance does not guarantee future results.

Subtabs under the Monitor tab

Let's look at some subtabs under the Monitor tab.

Activity and Positions

This subtab offers a snapshot of the current day's trading activity and statement of positions, including working, filled, and canceled orders. It's possible to track order activity by time and symbol and view the average price of each filled order on a symbol-by-symbol basis. The Activity and Positions subtab also allows users to group positions by categories.

It's possible to customize columns in the Position Statement by selecting the gear icon and then the data to display. Traders can also look at measures, such as options greeks, profit and loss, and buying power (BP) effect. Option traders who trade multi-leg strategies can arrange their positions by order, making it simpler to see the strategy as a whole instead of individual legs of a spread.

Account Statement

This subtab presents data in a historical time frame, displaying a breakdown of cash balances, order history, profit and losses, and segmented account summaries. The Account Statement also displays specific time-segment and symbol-related financial data.

FX Reports

The FX Reports subtab is similar to the Account Statement, but it focuses only on information about forex accounts. This subtab can be used to retrieve customized forex account summary reports, as well as reports about transactions, conversions, and user activity.

Strategy Roller

The Strategy Roller helps automate order generation for traders who want to roll their options positions. By choosing preferred settings, it's possible to quickly generate orders in the future.

The customization choices available on the Monitor tab provide a way for investors and traders to see information they can use to make more informed decisions about portfolio strategy.

Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the options disclosure document titled "Characteristics and Risks of Standardized Options" before considering any options transaction. Supporting documentation for any claims or statistical information is available upon request.

Spread trading must be done in a margin account. Multiple leg options strategies will involve multiple transaction costs.

Rolling strategies can entail additional transaction costs, including multiple contract fees, which may impact any potential return.

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

All expressions of opinion are subject to change without notice in reaction to shifting market conditions.

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.

Investing involves risks, including loss of principal.