TWS for Beginners - Getting Started - YouTube

in this lesson we aim to explain some top-level  concepts to help you familiarize yourself with  

the trader workstation or tws platform to get  started we're going to walk through these steps  

first we need to download two WS from the  IBK our comm website then we'll login and  

view setting choices and then we will explore the  functionality of the main mosaic panels finally  

we'll show you how to customize the default mosaic  layout first let's install tws on your personal  

computer go to the Interactive Brokers website  at IBK our comm to perform a one-time download  

of tws our java based trading platform click the  login button at the upper right of any page and  

then select download trader workstation here  you'll see the three available tws versions TW  

s latest t WS and t WS beta to determine which  version is right for you hover over each option  

with your mouse to read a description of each  one then once you've made your selection click  

the appropriate button and select the download  button if you need additional help click on the  

link to view installation instructions now that  you've downloaded and successfully installed go  

ahead and launch trader workstation you will  be presented with the tws login screen before  

you log in let's take a look at the available  settings you can select either live trading or  

paper trading mode for this course we'll select  a paper trading test environment to learn trading  

features of tws without risk paper trading lets  you use the full range of trading facilities  

in a simulated environment using real market  conditions click more options to see additional  

login related settings such as switching  tws versions without downloading additional  

software selecting a preferred color theme for  tws classic dark or light define your language  

setting adjusting your region and timezone and  more click the help icons and learn more about  

these features once you've explored this screen  enter your username and password and login now  

that you're in let's take a look around as  you can see the default mosaic view inside  

tws comprises a series of individual tiles or  panels that operate within a highly configurable  

interface so the upper left you'll see the order  entry window which includes the price quote for a  

selected financial instrument this window enables  you to quickly configure a buy or sell order which  

you can then submit to an exchange for execution  below that you'll see the quote panel which will  

provide you with a additional pricing and  fundamental details for the select an asset

alongside that is a chart window displaying a  bar or line price action over a configurable  

time period at the bottom of the mosaic display  is an activity panel where you can review open  

orders completed trades and review a summary  of your activity we also have the news monitor  

in the lower right corner and above that is the  monitor panel which is arguably the most important  

of all these windows here you can display many  symbols along with a host of configurable columns  

containing valuable trading information we'll  take a closer look at the monitor panel in a  

later lesson where we will show you how to access  your portfolio tab open multiple watch lists and  

even create market scanners now that you've had  a big-picture overview of the mosaic layout let's  

look at the two tabs at the lower left of tws  which read mosaic and classic tws the classic  

tws tab opens to a spreadsheet light display of  tws where you can enter symbols on each line and  

trade our focus in this course however will be on  the newer mosaic interface next to the classic tws  

tab is a plus sign click this symbol to create  self-designed mosaic tabs or access the layout  

library when you click browse beneath the layout  library image you'll see a myriad of predefined  

mosaic workspace layouts based on specific  workflows or instruments you can customize  

these predefined layouts or create your own from  scratch you may wish to run multiple tabs inside  

tws by using the layout library to customize  your own workspace to add a predefined layout  

to mosaic simply click the add layout button now  you will see the new layout display on your screen  

this is a popular way to access the information  you frequently use each layout that you add or  

create is added as a tab at the bottom of the  screen let's go back to the default mosaic tab  

now that you've been introduced to some essential  mosaic panels let's take a look at the various  

icons on the upper right of each panel hover  above any of the icons and you'll reveal the  

name of each the question mark icon will display  a cheat sheet or tutorial for that specific panel  

for example here's a cheat sheet for the order  entry panel you'll also see a gear icon which  

is a shortcut to configuration settings for each  specific panel when you click the gear icon in a  

specific tile for instance the monitor panel and  select settings the configuration window opens to  

the main selections on the left for the monitor  panel you'll see on the right side that you can  

add or remove columns on the monitor panel the  other important icon here is that little green  

chain-link which enables users to group windows  together for example watch what happens when you  

select the ticker in a watch list the other  panels that are part of the same color linked  

group update for that ticker assign a panel to  a group using the colored links on the top right  

of the windows title bar you'll notice that all  windows were the same color link a part of the  

same group let's now switch over to the upper left  of mosaic where you'll see a new window button  

here's where you can access several additional  tools the windows are grouped according to tools  

and information functions and keep in mind that  whenever you see an arrow head this means you can  

expand the display to reveal additional windows  let's have a new window to the default mosaic  

layout first you will need to locate and click the  padlock icon on the upper right of mosaic you can  

always tell when the mosaic display is in edit  mode by the thick green border surrounding the  

entire container now you can reduce or enlarge the  panels and so if you want to resize and make space  

for an additional panel click and drag the edge of  a tile and then reposition the added panel chosen  

from the new window menu when you have finished  resizing and want to save your new display just  

click the padlock icon again to set the layout  next turn your attention to the account menu item  

on the upper left of mosaic here's where you can  view your account information such as your reports  

and statements subscribe to additional market  data and more the account window shows you a quick  

overview of your balances and margin requirements  funds available for trading and portfolio  

positions for more account information select  account management home if you can't find what  

you're looking for no worries simply use a bot  to help you search by typing a question into the  

bottom input field a bot will help find the right  answer for you you can access the help menu to  

view user guides and customer service information  you've now completed the traders Academy tws for  

beginners lesson 1 look out for more lessons from  this course by selecting the education menu on the  

IBK our homepage and choosing traders Academy  or for additional related material refer to the  

introduction to order types and introduction  to charts courses from traders Academy