Step 7. Setting Up a Paper Trading Account on TradingView

Tradingview

OBJECTIVE

In this video, I walk you through the process of setting up your paper trading account on both desktop and mobile applications. I demonstrate how to create an account, choose your balance, and connect to paper trading on TradingView. It's a straightforward process, and I encourage you to follow along and set up your account as I show you. Please make sure to complete the setup on both platforms for a seamless trading experience.

Log Out of Your Current Account 0:00

  • Start by logging out of your current account on TradingView to set up a new paper trading account.

Access Paper Trading Options on Desktop 0:11

  • At the bottom of your desktop application, click on 'Trading Patterns'.
  • Select 'Paper Trading' with the TradingView symbol and click 'Connect'.

Create a New Paper Trading Account 0:19

  • If prompted, click the down arrow to create a new account.
  • Click 'Create Account'.

Name Your Account and Set Balance 0:30

  • Choose a familiar name for your account (e.g., 'TOTG Demo').
  • Enter a balance amount for simulation (e.g., '5,000 USD').
  • Select leverage settings (e.g., '500 to 1' for Futures, '100 to 1' for Forex).

Complete Account Creation 0:59

  • Click 'Create' to finalize your paper trading account setup.
  • Verify your account balance and equity on the dashboard.

Access Paper Trading on Mobile Application 1:18

  • Open the mobile application and click on the two lines with circles icon.
  • Select 'Trade with Your Broker' and then 'Paper Trading'.

Connect to Your Existing Paper Trading Account 1:30

  • Click 'Connect' to access your paper trading account.
  • Verify that your existing paper trading accounts are displayed.

Create a New Paper Trading Account on Mobile (if needed) 2:14

  • If you need to create a new account, click the down arrow and select 'Create Account'.
  • Follow the same steps as on the desktop to name your account and set balance.

Ready to Use Your Paper Trading Account 2:37

  • Your paper trading account is now set up and ready for use on both desktop and mobile applications.

Next Steps 2:44

  • Look forward to the next video where you will learn how to open a trade and use stop losses and take profits.
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