Schwab-TDA Merger: Thoughts, Rumors, Sightings...

[MerryDay]

Schwab Reveals Its Plan For Thinkorswim​

the new platform is keeping thinkorswim's programming language, advanced charting, paper trading simulator and chat rooms.
https://www.investors.com/etfs-and-...-its-mashup-plans-for-thinkorswim/?src=A00220

Awesome! Thanks for sharing.

 

[armybender]

Looks like they're open for business with TOS now. They posted this link on their Facebook page.

https://www.schwab.com/trading

 

[Pooze]

All,

I talked to Schwab a week or two ago about some custom third party integrations (Bookmap, OptionAlpha, and Olive) that I wanted to use with ToS. I was told by the customer service agent they are working to retain most of the integrations that were available with TDA. The rep could not comment specifically on what integrations would be available or when they would be available, but said to call back towards the end of November for more information. I know this doesn't help much, but at least I was told a date for more information. Passing it along for whats its worth.

 

[ttsdmagic]

Is there any definitive data on what will or will not be transferred over? Specifically will all my existing Workspaces, Scans, Studies, etc be transferred? Or is the prudent thing to try to export all of these components before my move date? I'm sure we all hope that everything will transfer. Any updates on this question are appreciated.

 

[MerryDay]

Is there any definitive data on what will or will not be transferred over? Specifically will all my existing Workspaces, Scans, Studies, etc be transferred? Or is the prudent thing to try to export all of these components before my move date? I'm sure we all hope that everything will transfer. Any updates on this question are appreciated.

Workspaces
are saved on your computer, so those are fine.

Scans, Studies, etc
The problems that a FEW people, who were converted to Schwab "seem" to be running into, is that a FEW people jumped the gun.

When TDA traders are converted over Schwab; their custom scripts take awhile to follow them.
Soooo... a FEW of the former TDA clients take matters into their own hands; and start copying over their scripts on their own.
This has caused a problem when Schwab then attempts to load the those trader's custom scripts from TDA app to the Schwab app; the process hit those duplicates and vomits.

Schwab has been very responsive to hiccups that have occurred during the migration.
So it is possible, this is not a problem anymore.
I am just mentioning it because of the large amount of discussions seen on reddit and other sites.

The bottom line:
It is never a bad idea to back up your custom scripts.
So why not do it?
How to back-up:
https://usethinkscript.com/threads/how-to-backup-user-created-tos-chart-studies-strategies.14979/

How to create a shared chart link:
https://usethinkscript.com/threads/how-to-share-a-chart-in-thinkorswim.14221/
then make a text file containing each link that you create.
Click here for --> Easiest way to load shared links

 

[ttsdmagic]

Workspaces
are saved on your computer, so those are fine.

Scans, Studies, etc
The problems that a FEW people, who were converted to Schwab "seem" to be running into, is that a FEW people jumped the gun.

When TDA traders are converted over Schwab; their custom scripts take awhile to follow them.
Soooo... a FEW of the former TDA clients take matters into their own hands; and start copying over their scripts on their own.
This has caused a problem when Schwab then attempts to load the those trader's custom scripts from TDA app to the Schwab app; the process hit those duplicates and vomit.

Schwab has been very responsive to hiccups that have occurred during the migration.
So it is possible, this is not a problem anymore.
I am just mentioning it because of the large amount of discussions seen on reddit and other sites.

The bottom line:
It is never a bad idea to back up your custom scripts.
So why not do it?
How to back-up:
https://usethinkscript.com/threads/how-to-backup-user-created-tos-chart-studies-strategies.14979/

How to create a shared chart link:
https://usethinkscript.com/threads/how-to-share-a-chart-in-thinkorswim.14221/
then make a text file containing each link that you create.
Click here for --> Easiest way to load shared links

Thanks so much for this excellent, comprehensive response. I'll proceed with the backups you suggested. I have all my workspaces and custom studies saved. I guess my main concern is that maybe my scans won't come over. I have a lot of them. And it'll take some time to individually share them, and then save them into Evernote.

 

[MerryDay]

Thanks so much for this excellent, comprehensive response. I'll proceed with the backups you suggested. I have all my workspaces and custom studies saved. I guess my main concern is that maybe my scans won't come over. I have a lot of them. And it'll take some time to individually share them, and then save them into Evernote.

I agree!

But it is so worth it.
My scans are the repository of all my thoughts on what I consider important to look for in my chart analysis.
Definitely back them up. Gives me huge piece of mind.

 

[Mohammad]

Preparing for Transition | thinkScript Studies on thinkorswim

For anyone looking for tips on preparing for migration in an organized way and exactly what to backup, TDA uploaded the above video just yesterday to help prepare for transition. This video goes through what needs to be backed up and some tips to stay organized.

In this class, we talked about housekeeping for shared items, and explored many ways to make sure shared thinkScripts, Grids, Watchlists, and Scan Queries are ready to be shared to a new platform.

 

[halcyonguy]

For anyone looking for tips on preparing for migration in an organized way and exactly what to backup, TDA uploaded the above video just yesterday to help prepare for transition. This video goes through what needs to be backed up and some tips to stay organized.

you can jump to 4:00 on this video, as the beginning is useless ramblings.
there is nothing of use for the next 8 minutes either.
at 12 minutes, he is still rambling and i gave up.

 

[MerryDay]

@halcyonguy is correct. The video above is NOT chocked full of useful information.

It feels like the major point of the video, is to convey reassurance.
The name "Ken Rose" is invoked, because for ToS app users, he is a renown ToS Education Coach.
Folksy songs are hummed to convey that the transition is nothing to be scared of.
Never watched the show it was from, but supposedly when the character had problems, his friends were there to support him. We are supposed to feel Schwab is our friend and is there for us.

Schwab gets a brownie point for acknowledging the overwhelming social chatter where ToS users have been voicing their fears.

Schwab's business has always been portfolio-managed clients. They have been clear that will always be where their focus lies.
BUT BUT BUT they have been going out of their way to acknowledge self-directed traders.
They have been consistent in their message that there is a place for us at Schwab, and we will be supported.

As issues have cropped up with their transition process, they have been proactive.
Not 100%.
The way they are dropping ToS Singapore clients with little notice is a harbinger to me, that niche offerings are not going to be accommodated. But overall, they seem to be standing up in support for the ToS app and its users.

Compare this with the treatment, we got from TDA. Over time, ToS became an afterthought.
Example: And at the beginning, TDA kept up with the other platforms with publishing the S&C Trader's Tip's New Indicator every month. More and more platforms have been participating in providing them, except TDA. Whose programmers have forgotten us more and more.

The Famed ToS Support had been reduced to providing the lame statement:

Yes, what you are reporting is a known issue. No, there is no timeline for it being fixed.

One smarmy video has not offset all my fears.
I have no crystal ball to divine how self-directed traders will fare long-term at Schwab.
But for now, ToS is the most robust free charting app available.

I came from TC2000 which will always be my 1st love. But when they closed their forum; the lack of scripting support became untenable.
useThinkScript is a home for ToS users; where even my dumbest questions have been answered with courtesy and respect.

I live in hope, that at the very least, ToS will not fare any worse under Schwab.

 

[Trader Raider]

For anyone looking for tips on preparing for migration ...

Thank you for posting the video. It was incredibly tedious to watch but the presenter did remind me to back up my custom watchlist columns, which I had forgotten to do.

There is an easier way to export custom scripts that seems to work fine. If you have windows, you can do a CTRL + A to select everything to backup. From what I've checked so far, this method seems to work. Simpler Trading explains it better than I can here.

 

[ttsdmagic]

I just asked TOS Support if everything I have created should come across after the transition. The guy I spoke with said yes, everything should come across. The only caveat is that if your watchlist has more than 300 symbols, it will be divided up into multiple watchlsits. I asked about custom column code, and he said yes, that will come over too. Just thought I'd pass on the info.

 

[Agonize]

I received an email from Schwab with this paragraph at the bottom:

We’re committed to bringing you the best in trading technology. That’s why we’re going all in on thinkorswim—to ensure it stays that way. As a result, we’ll be retiring our StreetSmart suite of platforms in 2024, including StreetSmart Edge, StreetSmart Central and StreetSmart Mobile.

It doesn't sound like they intend to allow development of thinkorswim to lag. We'll see.

 

[MerryDay]

I just asked TOS Support if everything I have created should come across after the transition. The guy I spoke with said yes, everything should come across. The only caveat is that if your watchlist has more than 300 symbols, it will be divided up into multiple watchlsits. I asked about custom column code, and he said yes, that will come over too. Just thought I'd pass on the info.

It is an unfortunate fact that ToS support has not been correct on most migration issues.

Those of us that have already had accounts migrated, were presented with a Schwab ToS app that did not contain our custom scripts.

There have been workarounds and Schwab has been proactive.
However, given that Schwab put out the above migration video where they recommend backing up your scripts, and given that it is ALWAYS a good idea to backup anything that your livelihood is dependent on:
PLEASE backup any custom scripts that you are attached to.

 

[Trader Raider]

If you have windows, you can do a CTRL + A to select everything to backup.

Well, the ability to CTR + A to mass export no longer works. At least for me. Glad I got a lot of stuff a couple days ago before it was disabled.

 

[mailbagman2000]

I was told be a reliable source that the remaining people that have not been switched over to Schwab will be this weekend. Let's see how reliable he is? LOL

 

[MerryDay]

I was told be a reliable source that the remaining people that have not been switched over to Schwab will be this weekend. Let's see how reliable he is? LOL

No!
This is about as far from the truth as it could get!

The ONLY TDA clients being moved to Schwab this weekend, November 4th, 2023 received notice THREE months ago and have been barraged with a hundred weekly notices:

ToS high volume users, who have advanced settings, are not being moved until Spring 2024.
Three months before migration, you will receive notice of your migration date.
No worries!

 

[Bingy]

I migrated to Schwab and lost all my stuff. Thank GOD I saved at least my winning strategies. SO ANNOYING!!!

So, I reached out to them and they said all my stuff will be ported over by Monday. I saved record of the conversation as reference.

 

[MerryDay]

The biggest issue that has cropped up so far, is that our saved custom scripts didn't migrate over to the Schwab Trading Powered by Ameritrade app
Schwab has provided various workarounds with various rates of success.

I am starting a TOTALLY unsubstantiated rumor that they are taking the TDA ToS app down this weekend; in order to port our custom scripts into the Schwab Trading Powered by Ameritrade app.

It should be noted that Schwab has announced many many times that the Schwab app will NOT be fully functional until toward the end of the year.

 

[Alex]

hopefully they will only improve the tos platform moving forward and won't do any unnecessary changes.