Upbeat music plays throughout.
Narrator:
Hey, my name is Kiara. I work here at the trade desk at Schwab. If you are someone that's looking to manage multiple accounts for yourself or even for your family, I'm going to show you some tips on how to be effective and faster on the thinkorswim® platform.
First things first. Let's say you want to have all of your accounts showing on one page. To do that, you would just click on the Accounts tab up at the top. And you're going to TOTAL ALL ACCOUNTS. Now currently I am under the Monitor, Activity and Positions tab.
So, I get to see all of my stocks in one go. The problem here is that I don't know which stock is in which account.
If you want to see which stock belongs to which account, to do that, go to the menu bar on the same row of position statement.
You're going to select Group symbols by and then choose Account. Now what we have here is that all of our stocks are broken up according to the account that they're held in. Right now, I have all of my stocks under my margin account and the others under my IRA account.
All right, so you've done your research, and you've made a watchlist for yourself.
Now you're ready to paste this on the charts tab and get to trading. The problem is, is that you have a lot of symbols that you're working with, and it's going to take forever for you to type each of them in and each cell. I'm going to show you a faster way to paste them all with just a few clicks.
So, we're going to go to the Charts tab first. And next we're going to build our layout. So, I'm going to go to the grid section. And for our example I'm going to do a two by two. Next, I'm going to click the menu bar and I'm going to select Load symbols to cells. We're going to visit Personal. And then for my example I have mine saved as My Watchlist. And there you have it.
So now you're ready to place a trade. And you're looking at a symbol. And you want to make sure that this is across multiple accounts. In our example I'm going to use Disney.
So, I'm going to right click over the quote. And in this example, I'm going to select BUY. Now my default quantity is set to 100. If you want yours a little bit more or a little less and you want to save it for future trading, we can go to the gear wheel here up at the top right corner, and we're going to select Application Settings.
We're going to visit the Order defaults tab. And then just for stocks in this example you're going to go to the default quantity of orders. Here you can change it to increments of 50, 10 or whatever quantity you've determined. Once you're happy with those changes go ahead and click Apply settings. Now back to the trade for Disney, I'm okay with buying them at market.
So, I'm going to change my order type from limit to market. Okay, we are almost there. So, we're going to click Confirm and Send. Now before we send this order off, keep in mind that the default setting is going to be single account. Now to trade across multiple accounts, what you're going to do is change this Single Account tab to Multiple Accounts.
You will see all of the accounts listed under your profile. Right now, mine is set to a ratio of 75 shares in my margin account and 25 shares in my IRA. If you want yours to be 50/50 or any other variations, you can simply click under the quantity and then just change the Quantity here to anything that you determined.
Once you're happy with those settings, if you want to save that layout for future trading, Save current distribution. Give it a name. Click Save and you can always have it here, saved going forward under Apply saved distributions. Now if you want to make sure that your order entry always defaults to multiple accounts, check this little box here.
This is Save last used mode. This will save you some time in the future. I'm happy with where it's set up right now, so I'm going to hit Send.
Awesome, okay, so just to track our progress we're going to go to the Monitor tab. And we're going to take a look at our filled orders. Given with Disney I bought them at market. They filled right away. And I can see here when I look below position statements. My new shares of Disney under both of my accounts.
And these are just a few ways that you can trade more efficiently on thinkorswim when it comes to managing multiple accounts. For more thinkorswim videos visit schwab.com/learn. Thanks for watching.
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