Home Trading Strategies How to Use Tradingview Paper Trading (Episode 7/8)

How to Use Tradingview Paper Trading (Episode 7/8)

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How to Use Tradingview Paper Trading (Episode 7/8)

okay so now I want to talk about the tradingview paper trading so this you can think of it like having a demo account right to place buy and sell others using a virtual money so it doesn’t affect your own capital right there’s no risk so to do it right you can just pretend right you’re trading the markets live right now on this chart and you’re looking looking at so to get the the trades going on right you can right click then you go down to trade you can either buy this policy right now or sell or create a new order but to make a life easier if you’re a no paper trade often go to settings trading and you want to show the buy sell panel click on this and you notice that this buy sell panel is open so in future when you’re the paper trade right there so you know quickly can you can sell or buy so let’s say you let’s just kind of simulate this let’s say Aussie dollar right market is bearish right now so let’s see you want to sell okay so we’ll click sell so there this other window will pop up right let’s say you you wanna shut the markets right now just hypothetically right let’s say we shot 50,000 units okay and let’s say we have a tick profit level of let’s say sixty-seven cents okay so this so when you set your take profit level or stop loss level right you can set it in terms of a pips the number of distance or the exact price level I usually go with the exact price level okay and a stop loss let’s say you have a stop loss at 69 cents okay let’s just say stop loss it’s at 69 cents okay so what you want to do is again you can sell it market you can sell using a limit order or a sell stop order again there are different ways you can go about it but let’s just say we sell 50,000 units of Aussie dollar and market so the other is cents right so this is all people traded or this is not a live account if you don’t set up deal the broker connection right nothing will happen it’s all just paper money and you can see that over here I all the the orders has been executed if you wanna see your order again very simple right just go to paper trading and you can see that over here your current position is this are you sell 50,000 this price take profit stop-loss in your current now right it is the orders that you have submit to the market okay so this is how you can go about right uh paper trading all right and you know just to get yourself perhaps you know familiar with the execution of this chatting platform or maybe even just we know forward test any specific trading strategy that you have in mind all right

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