This article is a step-by-step guide on how to send a trade from the Samurai platform to ThinkorSwim. The mechanism is based on copy-paste trade and allows you to verify the transaction on Thinkorswim's platform before sending it to the market.
How to send a trade to Think or swim:
When you copy the trade, we also copy a limit price to that trade based on the mid-price (and to each leg, if applicable). But markets can move fast, so you might want to adjust the price before hitting 'Confirm and Send.'
- You can see where your limit price stands vs. the current market quote by looking at the scale near the 'Send' and 'Delete' buttons. Also, the 'Expected <Ticker> Price' tells you what might be the price for the order to get filled.
- Pressing the lock icon next to the limit price will automatically adjust the price to be the mid-price of the current quote.
- If you want to see the effect of the new price on the position, you can go back to SamurAI and change the prices there to see the updated statistics and charts.
For custom strategies (such as married put and married call), you can't send it as one order, but you need to change it to 'Blast All' or '1st trgts Seq'.
Usually, we trade the option leg first in limit price, as it is less liquid and then send the stock leg, usually, as a MARKET order as it is more liquid and doesn't require us to keep monitoring the market. See the picture below, and feel free to ask us for more explanation:
ThinkorSwim demo account:
If you want to learn a new strategy without risking any money with real margin requirements and simulation of longer-term equity growth - you can send the trades to the TOS Demo account.