How to Create a Watchlist

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Video Transcript:

Hello traders, welcome to the thinkorswim tutorial on the first module introduction to thinkorswim. In this lesson, I’m going to teach you how to create a watch list on the left side bar of your thinkorswim platform. Now here we are again on the thinkorswim platform and we already know how to work the FX currency map and the live news feed. Now we are going to learn how to create a watch list.

How to create a watchlist on thinkorswim

And as you can see, we have two different watch list gadgets here so we are going to delete one. And the way we’re going to delete a gadget is by clicking on this circle right here and just clicking on “Delete Gadget.” Now we only have one watch list and we are going to now learn how to create one to our specific needs.

So the first thing we’re going to do is we’re going to go to the circle right here and click it. And then I’m sorry, we’re going to go to this wheel right here. We’re going to click the wheel, and we’re going to click on “Create Watch List.” This will prompt out the watch list creation box and you’re good to go.

First of all, we’re going to give it a name, so we’re going to give it maybe “daily futures,” okay? So these are the futures contracts that we are going to be watching. We are going to be watching the ES. I’m sorry I have to put on a…We’re going to be watching the YM, which is the E-Mini Dow. We are going to be watching the NQ, which is the E-Mini NASDAQ. We are going to be watching crude oil, which is CL. We are going to be watching gold, which is DC. And we are going to be watching the Euro, which is 6E.


And these are the futures contract that I personally trade on a daily basis and this is actually the watch list that I use on my daily trading. So I save it and here you go. We have the last print or the last traded price. We have the net change, the high and the low.

And as you can see, the ES is down seven and three-quarters of a point. The DOW is down 75 points. The NASDAQ is down eighteen and a quarter. CL is down 17 ticks. Gold is down 50 ticks etc., etc.

Now this of course, you’re not going to be only take in a watch, the [inaudible 00:02:59] watch list is for your trading. You can also customize it and I’m going to teach you how to do it. For example, I really don’t want the net change and the strength meter on my watch list. I don’t want the symbol, the last traded price, the high and the low of the day. These are important facts, okay, or important numbers that I use on my, well, on my daily trading.

Now what I want is the percent change of course, and I’m going to move up that to be on the immediate right of the same boat and I’m going to be taking also a volume weighted average price or VWAP to my, well, to my watch list. I’m going to add it, and there you go. We click “Okay,” and now I have all of the information that I need on my well, on my watch list.

Now because this is looking very crowded right here, I’m going to get rid of the last, I’m sorry, I’m going to get rid of the last price on my watch list. And the reason that is, that well, the last traded price is not nearly as important as the daily high, the daily low. The daily percent change and the VWAP for me or for my trading.

Watchlist settings

And as you can see right here, now it’s a very nice, well, it’s a very nice watch list that I’m going to be using every day. Now if you don’t have the gadget on your left side bar, you can always click the “Plus Sign” at the bottom of your trading platform and click on “Watch List” right here so you can create your own watch list. And of course, you can use, well, because I trade futures I only use futures on my watch list, but if you’re trading stocks you can add a stock. I’m sorry. You can add a stock for example, a stock watch list.

Let’s have a stock watch list, and well, let’s add two stocks for it so you can see the difference between them. Let’s say Facebook and why don’t we have Google? All right, now you have two stock watch lists and well, it’s important if you, well, if you are trading futures you have to follow the biggest stocks that move the stock indexes. And if you have more than one watch list created, you can of course move back and forward from it by clicking these two arrows right here.


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Adam is an experienced financial trader who writes about Forex trading, binary options, technical analysis and more.

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