Getting Started in Tradng: Thinkorswim & Infnity Futures

For those looking to get started in trading futures, or trading in general I can relay my personal recommendation with charting package thinkorswim and futures trading platform Infinty Futures. Both companies have outstanding customer service, something greatly overlooked in the trading/investment industry. Both are on the cutting edge of innovation in the industry. And, best of all both are free (for personal accounts; entity account who sign up with TOS will pay a monthly data feed of approx $200 for all exchange data). This is the duo I use for futures trading and have been members with them for years.

Filing "Trader Tax Status"

If you trade full time and even part-time you may be eligible for "trader tax status." This is especially prevalent if you operate your trading business under an entity such as an LLC. The biggest advantage to claiming “trader tax status,” is the ability to elect Mark to Market accounting. MTM accounting allows the trader to treat capital gains and losses as ordinary gains and losses. Filing under “trader tax status” also allows the deducting of our trading business expenses on a Schedule C.

I highly recommend the book The Tax Guide for Traders by Robert Green for anyone who thinks their trading falls under “trader tax status” or who has been trading professionally for some time. Green is the expert when it comes to trader tax laws and there are many tax advantages to your past filings by electing “trading tax status” on this year’s return. Green's website Green Trader Tax has a wealth of information as well.

Creating Your Trading Business

Creating a Trading Plan

Click here to view my Traders Expo presentation on "Creating a Trading Plan." Feel free to post your questions, or contact me via email if you have specific questions relating to you and your trading plan.

Infinity Futures AT Demo

Creating your own Trading Company

Robert Green from Green Trader Tax talks about what you need to know to setup your own Trading Entity and important information regarding taxes. Click here to view the video presentation after registering for free at moneyshow.com.

Market Data Sources

Here's where we get some of our data that we use in our analysis.

Trading like a Cheetah

Often traders feel that they MUST be trading all the time. This couldn’t be farther from the truth. A successful trader will act much as a cheetah does hunting its prey in the African Safari, striking less often, but with vengeance.

A Cheetah will track a herd of gazelle and wait low in the outlying grass, carefully identifying his prey of choice, the weakest, the one with the highest risk/reward. It is only then that the cheetah attacks with full force capturing its prey, returning to feast on its catch, then resting until tomorrow, a new day.

Thinkorswim Options Tab

Infinity Futures AT Demo

TJMacTrading in 2010!

Screen Setup & Excel Spreadsheets

Below is a quick video that outlines my screen setups along with some of the excel spreadsheets I use for intraday trading.

Getting Started in E-minis Trading

Candlestick Charting 101

Candlestick charts are a simple and effective way to read the days price action. Originating in Japan, Steve Nison brought the candlestick charting method to the west and is widely used in technical analysis to this day as candlestick charting can be used and applied across any trading vehicle or timeframe.

The candlestick is made up of two parts, the body and the shadow. A body that is filled in means prices opened higher than they closed. A body that is not shaded means prices opened lower than they closed. Below is an example of multiple daily candlestick charts strung together to form price movement.

Market Internals Setup

For those interested in a detailed description of how to setup market internals for the thinkorswim platform click here. The Shadowtrader has put together a great video, no need for me to recreate it.

Screen Setup

Creating a Trading Plan

Click here to view my Traders Expo presentation on "Creating a Trading Plan." Feel free to post your questions, or contact me via email if you have specific questions relating to you and your trading plan.

Infinity Futures

TJMacTrading...Who are we?

A short-term trading resource for a long-term future...

TJMacTrading is run by Trader Tim and J-Mac, two traders and long-time friends who deliver their market knowledge, stock picks, and technical analysis to you each week. Short term, day and swing trading is their forte. Concentration is placed on overnight swing trades and intraday E-mini Trades. TJMacTrading brings weekly market forecast, recap analysis, video trading watch lists, trading education and much more the table for users to enjoy!

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