Using the Position Statement on thinkorswim®

Upbeat music plays throughout.

Narrator: Hello, traders. I'm Jeremy Kuhlman, and today, I'm going to show you how to monitor your positions using thinkorswim^®. Keep in mind, I'm showing thinkorswim desktop, so things will look different on thinkorswim web or mobile. So, let's jump in.

Now, to monitor your existing positions, let's start by going to the Monitor tab. Here you can see we're in the Activity and Positions subtab. And you'll see this page is kind of broken up into two categories: Today's Trade Activity and the Position Statement, which we'll be focusing on today.

Now, from here, you can see the open position you have. If you click on the little arrow next to the ticker name, you can see the Position Details.

Now, going from left to right, you can see the instrument, and this of course is the ticker you have a position in. And then the quantity, then the days until expiration, the mark price, the mark change, the profit and loss since that position was opened, and the profit and loss for the day.

To add or remove columns on this page, select the gear wheel. Now you can see all the different available items. Say we want to add trade price. We can type in the trade price, and then we can add that item.

Now, from here, you can also move this item up. You can move it down. You can also remove it if you don't want to see it anymore.

Now, you can also select from a predetermined setup. You can select Available Items on the drop-down and select Basic. Now, once you're happy with your setup, select OK.

You can also sort these columns by selecting any of the column headers. Now, you see when you hover over the headers, a little arrow comes up. And you select that. You can sort by descending, ascending, or click a third time to get back to the original default setting.

You may also wonder what some of these colorful icons are next to your positions. Well, they each have meanings. The blue light bulb is an alert for anytime that position or stock has an earnings announcement. The red phone is an alert for when the company will have its earnings call. And the yellow symbol is for any time that company has a news alert.

Animation: After highlighting the buy and sell symbols, the Working Orders list is opened to reveal the corresponding orders for the symbols.

Narrator: When you see a green buy or red sell symbol, these mean you have current working orders in any particular symbol.

And finally, to close a position, right-click the symbol, then select Create Closing Order and select the Limit order choice.

Now here at the bottom of the page, you can make any edits to the order and then go ahead and send it. And that's how you manage your positions on thinkorswim.

For more great investor education, check out all the content on our YouTube channel. And for more in-depth walkthroughs and tutorials of the thinkorswim trading platform, head over to Insights and Education on schwab.com.

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