If you’re an active trader, you’ve probably heard of Thinkorswim. It’s a popular trading platform that offers a wide range of tools and features for traders of all levels. One of the most common questions that new traders have is about the delay in data on Thinkorswim. In this article, we’ll take a closer look at what Thinkorswim delayed 20 min means and how it can impact your trading.
What is Thinkorswim Delayed 20 Min?
Thinkorswim delayed 20 min refers to the delay in real-time data that is displayed on the platform. This means that the prices and other market data that you see on Thinkorswim are delayed by 20 minutes. This delay is intentional and is put in place by the exchanges that provide the data to Thinkorswim.
Why is There a Delay?
The delay is put in place to protect the integrity of the markets. By delaying the data, it prevents traders from using real-time information to gain an unfair advantage over other traders. This delay ensures that all traders have access to the same information at the same time, which helps to level the playing field.
How Does the Delay Impact Trading?
The delay in data can have a significant impact on your trading strategy. If you’re a day trader or a scalper, the delay can make it difficult to make quick decisions based on real-time market data. You may miss out on opportunities or make trades based on outdated information. However, if you’re a swing trader or a long-term investor, the delay may not be as much of an issue.
Can You Get Real-Time Data?
Yes, you can get real-time data on Thinkorswim, but it comes at a cost. To get real-time data, you’ll need to subscribe to one of the real-time data packages that are offered by Thinkorswim. These packages can be expensive, so it’s important to consider whether the cost is worth it for your trading strategy.
What are the Alternatives?
If you’re looking for a trading platform that offers real-time data without the delay, there are several alternatives to Thinkorswim. Some popular options include Interactive Brokers, TradeStation, and NinjaTrader. However, it’s important to note that these platforms may have their own fees and limitations.
How Can You Make the Most of Thinkorswim Delayed 20 Min?
While the delay in data can be frustrating, there are ways to make the most of it. One strategy is to use the delay to your advantage by focusing on longer-term trades. By taking a more patient approach, you can use the delayed data to make informed decisions based on trends and patterns.
Another strategy is to use the delay as an opportunity to practice your trading skills. You can use paper trading or a demo account to test out different strategies and see how they perform with the delayed data. This can help you become a better trader in the long run.
What are the Risks?
One of the biggest risks of using Thinkorswim delayed 20 min is that you may make trades based on outdated information. This can lead to losses and missed opportunities. It’s important to be aware of the delay and adjust your trading strategy accordingly.
Another risk is that you may become too reliant on the delayed data. If you’re used to trading with a delay, it can be difficult to adjust to real-time data if you decide to switch platforms or subscribe to a real-time data package.
Conclusion
Thinkorswim delayed 20 min is a common feature of the platform that can impact your trading strategy. While the delay can be frustrating, it’s important to understand why it’s in place and how it can impact your trades. By adjusting your strategy and using the delay to your advantage, you can make the most of Thinkorswim and become a successful trader.