How to Paper Trade on TradingView (2024)

FAQs

Is TradingView good for paper trading? ›

The paper trading feature on TradingView is a great way to test and improve your trading strategies without the risk of losing actual funds.

Placing Paper Trades:

a. Analyze the market: Utilize TradingView's extensive charting tools and indicators to analyze market trends and identify potential entry and exit points. b. Execute simulated trades: Use the TradingView platform to place paper trades based on your analysis.

TradingView paper trading doesn't offer leverage. You can reset your paper trading account at any time to any monetary amount you want.

We've introduced three most comprehensive packages (Expert, Elite and Ultimate) designed specifically for professional (commercial) users.

Paper trading isn't perfect as it doesn't involve the use of real securities. As such, it may provide a false sense of security and often results in distorted investment returns.

The free plan is an excellent way for casual traders, beginners and students to benefit from TradingView's world-class charting capabilities and community features without paying anything. The main limitations are the restrictions on indicators, alerts, screeners and chart layouts.

A trader must have a working trading strategy that has proven itself well on a demo account and on a real account; Comply with risk management rules; Provide a deposit amount of $200-$400. Subject to these conditions, you can “softly” disperse the deposit.

While TradingView is simple enough for beginner investors, it is a powerful tool with many features and indicators that can enhance the trading experience for investors of any skill level.

Consider conducting paper trades for at least six months before switching to a live brokerage account. Even after switching, it helps to maintain a demo account to hone your strategy.

Is paper trading smart? ›

Yes, paper trading is good for beginners because it allows testing of strategies in a simulated market environment without the risk of losing real money.

One drawback is that paper trading does not replicate the emotional aspects of real trading, as there is no actual money at stake. Slippage and liquidity: Simulated trading may not account for slippage (price differences between order placement and execution) and liquidity issues that occur in real markets.

In order to have the ability to execute trades on TradingView, you must have a paid version of the platform and a funded futures trading account with Optimus Futures.

Connect to the Paper Trading Account: Once logged into TradingView, navigate to the trading panel at the bottom. Among the list of brokers, select “Paper Trading.” This option is available even on TradingView's basic free plan, allowing users to experience paper trading without monetary commitment.

TradingView is known for its charting tools, technical analysis capabilities, and flexibility across devices. But is it suitable for day trading? The short answer is yes. Its chart types, drawing tools, and watchlist functionalities have made it a favorite among day traders.

In the Bar Replay mode, trading on historical data is available. This is a separate trading mode from Paper Trading. Data on trades and the overall result are available only in the session itself, and they are not saved anywhere.

Trading during extended hours is not supported on Paper Trading at the moment. However, it is possible to place a Stop or Limit order during the pre-market and it will be executed when the main trading session opens.

Open tradingview.com/chart (make sure your language is set to English!) and connect to PaperTrading. Click on Paper Trading in the upper left, then Export Data . Select Positions and click Export , select History and click Export .