Does anyone know what is the cost (in commission) of a position adjustment for a stock with thinkorswim? I have been playing with paperMoney, and it doesn't charge me anything whenever I adjust my position. Is that real?
well so does the $5 minimum apply? I have been playing by adjusting ~10 stocks at the time @ ~$44 and TOS paperMoney is not charging any fee. Why?
Yes, normal commissions apply. If you think about it, does it make sense to you that a broker would not charge you for a trade (remember that the platform doesn't know it's an adjustment). Following this logic you could adjust yourself out of a position for free. As to why papermoney doesn't charge you anything is a question best directed to the TOS.
One can rack up a lot of commissions really fast on TOS. The best platforms, in regards to costs, are the ones that charge an asset based fee, thus allowing one to trade as often as they desires without racking up commissions. TOS is willing to negotiate commissions with clients. It is good to do that with them - especially if one is a heavy trader. So it depends on one's commission schedule - but rest assured - TOS gets paid.
Mr Woody (tee hee) in your TOS account display, TOS does not include commissions in either the P/L Day or P/L Year to Date or P/L Open columns. It's unconscionable, but they don't. However, if you click on the account display tab and cash balance (even on the paper trade platform) you will see the commissions shining brightly. Also, since you are paper trading, please be aware that the DOM display on the TOS paper trade platform buys on the bid and sells on the ask! Just the opposite of what it should do. This will make you think you're a trading genius, and perhaps the world's best scalper. This is also unconscionable in my opinion.