Plus, the app gives you the flexibility to switch between accounts with ease so you can keep track of everything in one place. The simplicity of use for opening, closing, and viewing your trades has been translated well onto the app. The same interface they have for the desktop has been simplified down for the mobile app. If you’re familiar with the Tastyworks platform on your computer, then it’s an easy transition to trade off the app. They also have a mobile app, and I’ve found their app to be one of the most user friendly trading apps out there. Tastyworks’ simplicity isn’t limited to their desktop platform. Last but not least, I love that in their positions page you now have the ability to sort it by spread as well as by the individual options strikes. Similarly, to clear you can just right-click and delete the legs. If I need to change the contract amount, it’s simple to add and subtract, or to go from one expiration to the next with a simple + or – button. This feature on Tastyworks makes the platform very easy to use.īeyond that, the same thing is also true in the order ticket section of the trade.
#Tastyworks vs thinkorswim how to
I love that I don’t have to know the shortcuts of the platform, or technically figure out how to set it up as a vertical spread for the platform to pair it for me. Then the platform effortlessly and automatically sets it up as a vertical, pairing the first available strike with the second. I can just go to that other strike I need and click on the bid side. Or, say I needed to create a credit spread, like a cover order for my profit recycling trade. For example, if I need to look at buying a long call, I can just go to the strike that I want to buy and click on the Strategy column and it sets it up based on what I need. The straightforwardness I mentioned for putting on a simpler vertical spread is a constant presence on their platform. I think that Tastyworks is a great platform to consider as a newer trader because of its user simplicity. Unless you know all the little shortcuts behind that platform (like hitting the control button), you end up creating a new single strike trade when you really wanted an option vertical debit spread. If you click on the first strike and then go to click on the second strike, it’ll cancel out the first strike only to replace it with the new one.
This might seem like a no-brainer thing to do, but oftentimes I’ve run across trading platforms that make trading an options spread strategy very confusing.įor example, on Think or Swim, if you want to create a vertical debit spread it can get tricky. With Tastyworks, you have the ability to simply click on strikes you want to set up regardless of whatever options strategy you’re looking to use. This is especially true in comparison to some of the other trading platforms out there, like Think or Swim (TOS). Out of all the platforms I’ve traded over the years across multiple brokerage companies, Tastyworks is by far the easiest to use for trading and options trading in particular. Let’s talk about a few! Quick Features for Options Trading
This ease of use translates into many benefits. I love Tastyworks for a number of reasons – the biggest reason is because it’s extremely user-friendly. I’ve used many (and I mean, many) of the platforms extensively, and while there are great platforms out there, my personal preference is Tastyworks. That way you can see which one is the best fit to suit your personal trading needs. Just like anything else, it’s important to spend time learning about the platform options available to you. There are many different platform options out there, and they each have their own unique strengths and drawbacks. Choosing a trading platform is an extremely personal decision.
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