Paper Trading

A risk-free way to practice trading using paper (or fake) money; Paper trading allows traders to build experience, back-test strategies, and develop confidence without risking their capital.

Why it matters

Traders frequently blow up an account or two before they become profitable. Paper trading lets you blow up as many accounts as you want, without actually losing any money. The reps you take paper trading offer the experience and ability to prove consistency before live trading.

How to paper trade effectively

1. Test Strategies: Experiment with different techniques and methodologies to identify your own strengths and weaknesses.
2. Mastering the Tools: Learn the what, why and how of your tools. Get hands on and experiment with the different hotkeys and shortcuts you may need when live trading. In a game of inches confidence with your tools can make all the difference.
3. Build Confidence: Develop trust in your strategy through high-volume repetition and data-driven insights.