Trades can be placed from any page or website by popping out the trade ticket bar in the footer. Scottrade stock chart.
One feature I really enjoyed, which is exclusive to Scottrade clients, was the Scottrade SmartText functionality. SmartText analysis is available for charts, sectors and industries, and earnings. With charts, for example, Scottrade SmartText will quickly analyze any indicator you add and give you an easy-to-understand explanation of what that indicator implies for the stock you are researching. This is generally considered to be an indication of a bearish trend.
Scottrade SmartText. Scottrade's research is also thorough for mutual funds. With research provided by Morningstar, my personal provider choice for mutual funds research, Scottrade does not disappoint. I then read a synopsis of the fund's strategy, took a look at the Morningstar category ratings, and analyzed the fund's expenses to help me decide whether to buy or not. In , Scottrade spent time improving its screeners, expanding the number of predefined screens from two to 11 for ETFs and two to 10 for Mutual Funds. Screens are created mostly in house, and it was refreshing to see more variety.
Scottrade also added a new visualization tool, allowing you to see how each screen result flows through your predefined filters. Scottrade screener results visualization. Thanks to the website redesign, immediately upon login, clients will find a quick link to Scottrader Streaming Quotes right in the header — a nice touch.
Scottrader Streaming Quotes is a Java-based application that loads through the desktop and is simple to set up.
With easy buttons to open new windows and three customizable layouts, I found the application functionality to be straightforward. Each watch list is drag-and-drop friendly and can have up to 40 securities. Scottrade streaming quotes. One con with the Scottrader Streaming Quotes application is that there is no snap window functionality, so aligning any open windows the trade ticket, charts, top gainers, time and sales box, etc.
My only other criticism would be that the quote screen window does not display the market index returns in large numbers at the top.
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Instead, they are small items at the bottom and do not include percentage return for the day. Pickiness aside, Scottrade Streaming Quotes gets the job done and is an easy win for casual investors. Scottrade's advanced platform, Scottrade ELITE, is a desktop- based platform designed for active traders seeking advanced functionality beyond what Scottrader Streaming Quotes offers. Similar to Scottrader Streaming Quotes, the platform is mostly easy to use. Functionality is also widespread; however, across the board, ELITE trails the competition due to a lack of depth.
Focusing on usability first, Scottrade ELITE windows are labeled with clean, clear icons which makes tweaking settings a breeze.
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In , Scottrade spent significant time cleaning up the overall design and launched three different color schemes: classic dark, light, and monochrome. I prefer the classic dark design. Also in , usability was further improved with the addition of a new layout bar in the header allowing users to quickly swap between layouts. Looking at tools, charting was enhanced in with the addition of a handful of new technical indicators, including Ichimoku Cloud, Dividend Indicator, Earnings Indicator, and Volume on Price, among others.
In total, 67 studies are available which, while admirable, still falls well below the current industry standard of Lastly, charting now also includes what Scottrade calls Calculated Symbols, which can be used to produce a variety of custom views such as analyzing a pairs trade, for example. New features aside, Scottrade ELITE is impressive; however, it trails behind its other full-service broker competitors and category leaders. Overall depth is where the platform really suffers.
Features such as setting advanced alerts, viewing alerts on charts, viewing historical trades on charts, streaming TV, watch list real-time filtering, and advanced options probability analysis are not present. TD Ameritrade leads the industry in multiple categories and is a great parent for Scottrade.
As a Scottrade client, I am excited for the future. Scottrade and TD Ameritrade combined will house a staggering 10 million clients. At the time this review went to press in February , it was still too early to know how Scottrade would be integrated. However, Scottrade clients can expect some fantastic changes over the next several years.
Reinvestable dividends can be used to purchase shares in up to five eligible securities exceptions include OTCBB stocks. In its place, Scottrade Pro, a joint initiative with Interactive Brokers, was announced.
Account Features
See our list of recommended brokers for options trading. Scottrade, with its network of more than branch offices and wonderful customer support, offers clients a large selection of investments and quality research to make educated investment decisions. For our Stock Broker Review we assessed, rated, and ranked sixteen different online brokers over a period of six months.
Hedging: If you have an existing position in a commodity or stock, you can use option contracts to lock in unrealized gains or minimize a loss with less initial capital.
You can trade and invest in options at TD Ameritrade with several account types. You will also need to apply for, and be approved for, margin and option privileges in your account. The thinkorswim platform is for more advanced options traders. It features elite tools and lets you monitor the options market, plan your strategy, and implement it in one convenient, easy-to-use, integrated place. In addition, TD Ameritrade has mobile trading technology, allowing you to not only monitor and manage your options, but trade contracts right from your smartphone, mobile device, or iPad.
Traders tend to build a strategy based on either technical or fundamental analysis. Technical analysis is focused on statistics generated by market activity, such as past prices, volume, and many other variables.
Charting and other similar technologies are used. Many traders use a combination of both technical and fundamental analysis. Whether you use technical or fundamental analysis, or a hybrid of both, there are three core variables that drive options pricing to keep in mind as you develop a strategy:.
In addition, you can explore a variety of tools to help you formulate an options trading strategy that works for you. For veteran traders, thinkorswim , has a nearly endless amount of features and capabilities that will help build your knowledge and options trading skills. Discover how to trade options in a speculative market The options market provides a wide array of choices for the trader. Understanding the basics A long option is a contract that gives the buyer the right to buy or sell the underlying security or commodity at a specific date and price.