TradingView is one of the most widely used charting and analysis platforms among traders worldwide. It provides a wealth of features, including an integrated paper trading account. Paper trading is an excellent way for beginners to familiarize themselves with the platform and for experienced traders to test strategies risk-free. If you are wondering how to view your paper trading account on TradingView, this guide will walk you through the process step by step.
What is Paper Trading on TradingView?
Paper trading, also known as simulated trading, allows traders to practice buying and selling orders without using real money. TradingView offers a free built-in paper trading account where you can test strategies under real market conditions.
How to Access Your Paper Trading Account
To start using your paper trading account in TradingView, follow these steps:
1. Open the Trading Panel
Once you have logged into your TradingView account, navigate to the Trading Panel. This option can be found at the bottom of your chart window. Clicking on it will open a list of available brokers.
2. Select Paper Trading
In the Trading Panel window, look for the option labeled Paper Trading by TradingView. Click on it, and then select Connect. This will activate the built-in paper trading account associated with your profile.
3. Viewing Your Paper Trading Account
Once connected, you will be able to see your paper trading account details, including:
- Your current balance.
- Open positions.
- Order history.
- Trade performance metrics.
This information helps you track your simulated trades and evaluate how your strategies perform over time.
Modifying Your Paper Trading Account Balance
When you first enable paper trading, you receive a default balance. However, you may want to adjust this to better reflect the funds you plan to use in a real trading scenario. To modify your balance:
- Click on the Account Settings gear icon in the Trading Panel.
- Select Reset Paper Trading Account.
- Enter a new starting balance and confirm the reset.
By adjusting your balance, you can create a more personalized trading experience.
Placing a Trade in Your Paper Trading Account
To execute a paper trade, follow these steps:
- Navigate to the chart of the asset you wish to trade.
- Click on the Trading Panel and ensure that Paper Trading is selected.
- Press the Buy or Sell button depending on your strategy.
- Set the order type (Market, Limit, or Stop).
- Specify the quantity of the asset you want to buy or sell.
- Confirm the order.
Once the trade is executed, it will appear in your open positions section.
Tracking and Reviewing Performance
Analyzing your paper trading history is an essential step in improving your strategy. You can view detailed trade reports in the Paper Trading Panel. TradingView provides performance metrics such as:
- Total profit and loss.
- Win/loss ratio.
- Average trade duration.
By reviewing this data, you can pinpoint areas for improvement before transitioning to live trading.
Resetting Your Paper Trading Account
If at any point you want to start over with a clean slate, TradingView allows you to reset your account. To do this:
- Go to the Account Settings section in the Trading Panel.
- Click on Reset Paper Trading Account.
- Confirm the reset action.
This will erase all current trades and reset the balance to a new amount of your choosing.
Final Thoughts
TradingView’s paper trading feature is a powerful tool that allows traders to refine their skills without financial risk. By properly utilizing this feature, you can test new strategies and better prepare for real market conditions. Whether you are a novice or an experienced trader, taking full advantage of the TradingView paper trading account can significantly enhance your trading proficiency.
