Misconceptions and Truths about Paper Trading
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TradingView also supports Paper Trading.
For more information, please click the link below. tradingview.com/support/solutions/43000516466-paper-trading-main-functionality/
More flexibility: change your Paper Trading account currency :
tradingview.com/blog/en/change-paper-trading-account-currency-47213/
Even more seamless order design — directly on chart :
tradingview.com/blog/en/seamless-order-design-on-chart-46889/
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Paper Trading is thought to support trading practice for beginners.
However, this is a wrong idea.
If you lack prior knowledge about trading or have no concept of trading strategy, you should not do paper trading.
The reason is that the psychological burden is different.
The success or failure of a trade is thought to be the result of trading strategy or response ability, but in reality, it can be said that it is determined by the battle with oneself and psychological state.
This means that psychological state has a significant impact on trading.
Therefore, paper trading should be considered as a transaction that is conducted to confirm one's trading strategy and response strategy after completing chart analysis.
If you have completed some verification of your trading strategy or response strategy, you should continue to conduct actual trading even if you suffer a loss.
The reason is that you should not forget that you can only gain know-how in trading through actual trading.
Therefore, paper trading should not be used to practice mid- to long-term trading, but should be used to verify trading strategies or response strategies for short-term trading or day trading.
In order to do so, you must close the transaction by selling or cutting your loss.
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For more information on trading orders in paper trading, please refer to the explanation through the link above.
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You can proceed with Paper Trading by clicking the Trading Panel at the bottom menu of the TradingView chart.
If you connect to a Paper Trading account, you can start with an initial fund of 100,000.
If the Buy/Sell button is not activated, activate the chart settings to activate the Buy/Sell button before proceeding with the trade.
Right-click on the space in the price candle area to activate the window, and then hover your mouse over the Trade section to check the trading order or trading settings (when you click the Trading menu in the Chart Settings window).
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In addition, TradingView is linked to a real exchange and supports real trading.
It supports various exchanges, so I recommend you to check if there is an exchange that you are trading on.
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Have a good time.
Thank you.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.