I just opened an account at ThinkorSwim. Moving from OptionsXpress

Quote from AmbushHillbilly:

TOS is a good place to trade equity options, especially if you're new the game.

RedOption is TOS' own advisory firm, with or without autotrading. Their calls are pretty decent. You won't get rich, but it's a good learning experience for $20/mo per strategy. They have a basket strategy now, which combines some of the better strategies. There's also TOS' Option Planet arm, which provides free training.

Autotrade is just a service TOS provides (other brokers do as well). Most of the autotrader's claims are downright ludicrous. I would NEVER consider letting some of those idiots touch my money. I'm quite capable of losing money on my own, thank you.

Besides I bet one day the SEC is going to get off their a$$ and come after these unlicensed autotrading services. Most of them aren't even brokers or RIAs and yet they're trading for you in your account.
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TOS is awesome

they passed my rigourous options test

they were the only firm that actually knew the issues regarding PDT ruling as it relates to option trading over equity trading....

may not have agreed with them, but they were in more compliance than other firms, and they offer a number of other services to boot....

this ability to do basket trading off recommendations of others has become the latest rage, and they're awesome in that regard.

my suggestion is to take a small account or sub-account and let those advisors trade it up in size over time, and then you'll have both confirmation of their viability as well as profits to justify doing other more advanced option trading....

cheers all
 
By the way for the subscription strategies of TOS RedOption, you can click on "Want Track Record" to get the performance:

http://www.redoption.com/

You can choose auto trade then have the choice to exit yourself. The one advantage of autotrade is they work the trade, priemium will be better most likely.

I like their software. Have attended many of their demo & classes. I use option real time charts a lot to check the price movement & volume.
 
TOS is a group of open minded traders with its founder working full-time in the firm answering the phone and sharing in ALL of the duties....It seems no matter how large they grow, they maintain that small family atmosphere...It seems that they can handle fast growth and weather any growing pains effortlessly...For traders at my level they offer the best choices. For the pro's that do their own trading IB may suffice...

Wifey and I wanted to add another advisory for "autotrade" that would compliment Optionsmart...but Wifey does not have enough money in there to justify it (7K). TOS has a $12.95 minimum charge or $1.25 per contract whichever is greater...

If I dilute the account with too many advisories, I can't get over the minimum.

So, they just removed my minimum and now I only pay $1.50/contract straight....so I added Crawford Investments...

Michael B.

P.S. I had to pay my taxes and my next adventure is to save 6k for another project with a collegue that knows options better than anybody I know... All these friendships discovered because of ET. I just got through paying the fricken IRS last week...so now I am clear!!!!

P.P.S. OptionsXpress does not even offer Crawford in their list of Participating signals. ThinkorSwim has twice as many choices.
 
I can imagine that TOS can compete with IB at a buck a contract...But it is good to have several brokers....My next project is with IB for a managed account with a collegue...so look for the thread!

It is very commom for traders to use each other to diversify with...I am looking forward to this next project.

Michael B.
 
what would you rather have:

1. a buck a contract, or

2. pay 50 cents more and have someone at the other end of the phone when you call?
 
ahhh...... Crowder...Crawford.....what the heck...


Quote from traderdon56:

Michael, you must mean Crowder Investments?, as TOS doesn't have a listing for Crawford.

Don-
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Quote from WD40:

what would you rather have:

1. a buck a contract, or

2. pay 50 cents more and have someone at the other end of the phone when you call?
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absence of cancel fees is da attraction of tos..at least u can try to get inside mkt again and again 'till eventually u get a fill. platform not bad but not great either imo....but man, commish are a rip-off...if they get their act together and lower them tos cud become da best choice for options.

i think europe line is free of charge and by da way dont think u should really need to call them up on a reg basis.
 
"Wifey and I wanted to add another advisory for "autotrade" that would compliment Optionsmart...but Wifey does not have enough money in there to justify it (7K). TOS has a $12.95 minimum charge or $1.25 per contract whichever is greater..."


Michael-

Are you sure about these numbers? I took the following from their website-
==============================================
For OPTION orders, you pay the LESSER of
$2.95 per contract OR
$1.50 per contract plus $9.95 (only one $9.95 charge for unlimited spread legs)
==============================================

Anyway, it's cool that you got them not to charge you a minimum, no matter what.

Don-
 
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