No. of Recommendations: 6
I use the "classic" layout of TWS, the downloaded Java program.
Steps to buy a new stock for me would be like this:
Create a new quote tab if I want, more likely use any free line on an existing quote tab.
(If you need a line between existing quote lines, just click on a line and hit your "insert" button)
Click leftmost column of a blank line, type in the ticker.
Pick the specific security with that underlying ticker from the pop-up, normally the default (stock, smart routing), sometimes options. If it's an option, there will be a second pop-up window for expiry, strike, put/call.
The quote line will populate itself with the bid, ask, last, etc. The set of rows you see can be customized, but you don't have to.
To buy, I click the current "ask" number. (to sell, click the "bid"). An order row appears below the quote row. I choose the default order type (limit), enter the limit price I want, and click the transmit button on that row. Nothing happens till you click "transmit". Never use a market order for anything, it's like taping a "kick me" sign on your back.
To change the limit, just type in a new one and click "transmit" again.
After a couple of hours it all seemed natural, the only thing that I had to work harder to remember was to click "ask" to buy, and "bid" to sell. A post-it helps! And don't click at random place on the window, or order lines will pop up, which seems scary. Again, nothing really happens unless you click "transmit".
This is the "fancy" way to do it, which doesn't use the order window. It's nice after you've used it for a day. Fewer fields to stare at and check, since you normally want the defaults like "day order" anyway.
Jim
