Paper trading is a safe way to practice trading without risking real money. TradingView offers a built-in paper trading account that lets you place simulated orders on real market charts. This guide explains, in simple language, how to set it up, how to place orders, and how to use paper trading to improve your skills. I’ll also share a few tips and common pitfalls so you get the most from your practice.
What is Paper Trading and why use it?
Paper trading is a demo account that uses virtual money. It copies real market prices so you can learn order entry, risk management, and strategy ideas without losing cash. It’s ideal for beginners who want to learn chart reading and for experienced traders testing new setups. Think of it as training wheels before you ride with real money. (TradingView)
Step 1 — Open TradingView and go to a chart
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Create or log into your free TradingView account.
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Open any chart (stock, crypto, forex—whatever you want to practice).
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At the bottom of the chart screen, find the Trading Panel tab and click it. This panel is where you connect to paper trading or to a broker. (TradingView)
Step 2 — Connect to the Paper Trading account
In the Trading Panel you will see a list of brokers and options. Choose Paper Trading by TradingView and click Connect. Once connected, the trading panel will show your paper account balance, open positions, orders, and quick buy/sell buttons. You can disconnect the account any time from the same menu. (TradingView)
Step 3 — Set up your paper account preferences
Before you trade, personalise the paper account to match how you plan to trade:
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Set the initial balance (for example $10,000).
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Choose your account currency (TradingView supports many currencies).
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Set leverage if you plan to simulate margin trading.
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Enter commission settings if you want realistic cost estimates.
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Turn on/off chart features like buy/sell buttons, visible positions, and orders.
These settings help your simulation mimic real conditions and make results more meaningful. (TradingView)
Step 4 — Place your first simulated trade
There are two easy ways to place orders on TradingView paper trading:
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Using the Trading Panel order form: choose buy or sell, enter quantity (or contract size), set price (market or limit), and optional stop loss / take profit levels. Then click Buy or Sell.
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Trading directly on the chart: right-click on the price level and choose “Create order” (or drag order lines if you prefer visual entry). This is handy for placing limit entries or moving stops on the chart.
After placing the order, the position appears in your account summary and on the chart if you enabled position display. (TradingView)
Step 5 — Track your positions and orders
The Trading Panel shows all open positions, pending orders, filled orders, and account history. Use this panel to:
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Monitor unrealized profit/loss (P&L).
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Edit or cancel open orders.
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Move stop loss and take profit levels.
Good practice: keep a trading journal (even for paper trades) noting why you entered, what rules you followed, and the outcome. This turns random wins or losses into learning. (TradingView)
Step 6 — Use strategy tester and backtesting (forward testing)
TradingView also has a Strategy Tester that runs scripts (called strategies) against historical data. Combine backtesting with paper trading:
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Backtest a strategy on historical data to see theoretical performance.
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Forward test the same rules with paper trading in live market conditions.
Forward testing (paper trading live) helps you see slippage, order execution differences, and emotional reactions—things backtesting alone cannot show. (TradingView)
Tips to make paper trading effective
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Treat it like real money — follow position sizing and risk rules consistently.
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Match real-world costs — include commissions and realistic spreads to avoid overly optimistic results.
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Test one idea at a time — don’t change strategies midstream; test with a clear plan.
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Use multiple accounts — create separate paper accounts to test different strategies side by side.
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Simulate psychology — if you’d be nervous with real money, try to replicate that discipline (e.g., limit position size). (TradingView)
Common limitations of paper trading
Paper trading is excellent, but not perfect. Be aware:
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Execution differences: Real brokers can have delays, partial fills, and different spreads. Paper trading may assume ideal fills.
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Emotional gap: It’s easier to be strict with virtual money; emotions with real money can change your decisions.
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Broker integration: When you move to real trading, linking your broker to TradingView may change the interface and available features. Test with your broker first. (reddit.com)
Advanced tips for experienced users
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Change account currency or leverage to match the market you trade. TradingView supports many currency options and margin settings.
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Automate alerts and link to brokers: Use alerts for entries and exits, and if you use a supported broker, consider connecting it to TradingView for live execution (once you’re ready).
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Export performance reports: TradingView allows downloading trade history and metrics for deeper analysis. Use spreadsheets to calculate win rate, average return, drawdown, and expectancy. (TradingView)
Quick checklist before switching to real money
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Your backtests and forward testing show consistent edge over many trades.
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You have a clear risk management plan (max % risk per trade, daily loss limit).
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You’ve tested on the same asset class and timeframes you will trade live.
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You’ve considered broker commissions, slippage, and tax implications. (TradingView)
Final words
Paper trading on TradingView is a powerful learning tool. It helps you build skills, test strategies, and practice trade management without losing capital. Use it seriously: set realistic account settings, follow rules, and review each trade. When your paper trading results are consistent and you understand the limits, you’ll be better prepared to trade with real money. Happy practicing! (TradingView)
Sources & further reading
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TradingView — Paper Trading main functionality and settings. (TradingView)
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How to connect or disconnect a Paper Trading account (TradingView Help). (TradingView)
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TradingView features and strategy testing overview. (TradingView)
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Beginner tutorial: How to paper trade on TradingView (Vantage/OptimusFutures guides). (Vantage Markets |)
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Strategy Tester and backtesting basics (TradingView Support).