The interface of the Add Simulated Trades tab may be quite reminiscent of that of All Products. The principal difference between these two tabs is what the name of the former refers to - here, you add simulated trades in order to analyze various scenarios before you confirm and send the real order. Watch the video below to learn how this interface works. Refer to the Risk Profile and Probability Analysis pages to learn how to analyze your simulated trades.
Add Simulated Trades
The thinkBack tool is a thinkorswim feature designed for option back-testing. It stores nearly a decade of historical option trade data and allows you to back test strategies by entering hypothetical trades in this virtual trading environment.
Backtesting is the evaluation of a particular trading strategy using historical data. Results presented are hypothetical, they did not actually occur and there is no guarantee that the same strategy implemented today would produce similar results.