 There's a reason why Xtrades is currently the fastest growing application on the market for sharing financial ideas. With over $2.5 million paid in the last two years to contributors, users are flocking to see what trades the top traders on the leaderboard are sharing in real time. If you're looking to grow your reputation as a trader on the internet or discuss your trading ideas with other reputable investors, click the link below and get connected with the trading mentor today completely free of charge. Okay guys welcome back and we're gonna look at a short video today on a cool feature that Thinkorswim has. So it has to do with risk management. Let's just say that you know that's the the breakout level that we're looking at right. We'll say that this is our stop loss right here. So let's say that this is our target. All right perfect. Okay so we've just we've defined our entry our exit both to the upside as a target and to the downside as a stop loss. So basically we're risking anywhere from 444 to 437 which is about seven bucks to make 444 for 57 which is about 13 bucks. So two to one more or less. All right if this thing breaks above 444 we want it. The thing is that you don't want to get into the trade and enter that subsequent trade. Well with Thinkorswim you can enter everything at once. Let's go back to our trade tab. So we're looking at September 1st contracts. We said that we are currently sitting at 437 sorry 439 pretty much 440. Okay so that's what we're at right now. And what we said was I only want to get in if this thing breaks above. Right and if it breaks above then if it drops below 437 then I'm out. If it goes all the way to 457 then I'm out as well. We want to enter when spy reaches 444 but we want to enter possibly a contract that is already in the money. All right let's look for something because the 444 is giving us 32 delta. Let's say that we want to be a little bit safer and go for let's say a 441 delta. Okay so that would be 442 all right which is trading between 241 and 243. So let's say let's go for the ask price the upper threshold which would be 243. All right and you see how you get the buy rectangle right there below the arrow and I'm going to right click on this right and of course you could just say buy right and you can go for single or whatever but you could also buy custom. Now with the buy custom what we're going to do is we're going to do an OCO bracket and we're going to take care of everything right here. Okay so what is this telling us that we're going to enter this contract right the 442 call contract if it reaches a particular price. Now it is currently trading at 242 but we don't want that. We don't want 243. Let's say that we want to make sure that we enter this contract once we have reached a particularly safe level closer to 444. Okay so let's say that that's going to be something like 263. Okay if this thing breaks 263 all right then we are going to be able to call this other bracket and this other bracket says well if this thing reaches 343 then I'm out that's my price target right or if it breaks below 143 then I'm out right now 143 of 263 that's about $1.20 so it's a little bit under 50% loss of value of the contract so you can play with these numbers however much you want but the thing is that we're taking care of this order all at once we're getting in only if it breaks past this point and once we do we can get out at this level or we're only willing to risk it if we go down to this level okay and not only that you're entering at a limit you're exiting at a limit as well right but you can also link this and say I want the trigger to be plus $1 right but that's not what I wanted to show you you could also do you know what I want to go to market okay not a limit exit a market exit okay and how will that work well let's switch over here move on over here to the little gear icon and okay I want to sell at market what I want to sell spy okay and whenever spy reaches mark above right and we said that our top level was I believe 5 4 57 right so 4 57 sorry not the contract the actual value of spy so we're going to exit at market whenever it is triggered by spy reaching equal or above 457 all right so go ahead and save this and there it is okay so what we're doing let's recap come over here to the chart right we're entering if it reaches bring this up here okay we're right now it's currently trading at 242 right which is around here if this thing breaks above 263 then we go in okay if it breaks above 263 if it reaches 457 then we're out if it drops below 163 then we're also out okay and we can still mess around with this and say we don't want to get in at 263 the contract right because remember this is the value of the call this is the value of the call but 457 which we entered here is the value of spy not of the contract not of the call well we could also do that you can say if this thing enters right market price of spy entering if it is above 444 then we're out okay and you can look at what this is exactly when you hit confirm and send it'll bring up the order to take it and it'll tell you okay what are you doing you're buying the one one spy contract call September 23rd September 1st at 442 to open right if here's the condition if spy is above at or above 444 start we're buying the 442 call if spy breaks above 444 now we're also getting out of that 442 call contract at market triggered by the OCO bracket bracket which says if it is above 457 then we get out or we're also exiting that contract if we hit the stop of 163 on that contract itself alright so I thought this was a very cool feature that thinkorswim has I don't know maybe you guys can let me know in the comments below if on Weeble or something else Robin Hood or the other trade platforms out there if they have this sort of a feature because I thought it was very useful so I hope you enjoyed this video and I'll see you in the next one have a great day