How To Do Paper Trading In TradingView Mobile App – A Complete Guide
TradingView’s paper trading functionality allows you to simulate trading with fake money to practice strategies risk-free. But can you use paper trading in TradingView’s mobile apps?
The answer is yes! While the original web platform offered more paper trading features, the TradingView mobile apps now provide robust paper trading capabilities to complement the charting and analysis tools.
In this comprehensive guide, we’ll cover the benefits of paper trading on mobile, how to access it, placing sample trades, analyzing performance, and tips for an effective learning experience. Let’s dive in!
Benefits of Paper Trading on Mobile
Here are some of the advantages to paper trading on TradingView’s iOS and Android mobile apps:
- Practice trading strategies on-the-go without being chained to a desktop
- Ability to quickly test ideas and react to markets using paper money
- Entry/exit timing practice by placing sample trades quickly by tapping the chart
- Can combine paper trading with real-time alert notifications on mobile
- Supplements web paper trading for an integrated experience across platforms
Mobile paper trading allows you to sharpen your skills anywhere at any time.
Accessing Paper Trading in Mobile App
Accessing paper trading in the TradingView mobile app is easy:
- Ensure you have the latest version of the TradingView app installed
- Log into your TradingView account that has paper trading enabled
- Tap the More icon (3 dots) in the top right and select Paper Trading
- Review or adjust the paper money balance if needed
With those quick steps complete, you’re ready to place practice trades!
Placing Sample Trades in the Mobile App
Placing paper trades in the mobile app mimics the real order entry process:
- On a chart, tap the trade icon to open the trading panel
- Change the account to “Paper Trading”
- Select the asset and choose buy/sell, number of shares, order type etc
- Tap the Paper Trade button to place the order
- Tap Orders to monitor the simulated trade status
You execute trades in the app just like live trading!
Tracking Paper Trading Performance
To analyze your paper trading results on mobile:
- Swipe left on any chart to view the Paper Trading P&L dashboard
- Review metrics like profit/loss per trade, daily P&L, account balance history
- Drill into closed trades to see their performance metrics
- Compare fills to live price charts to understand execution
Detailed stats allow assessing strategy effectiveness.
Tips for Productive Paper Trading on Mobile
Follow these tips for effective practice with TradingView’s mobile paper trading:
- Mimic real-life trading as closely as possible
- Try scenarios like acting on price alerts, news events, or cutting losses
- Start small with share/contract size and slowly increase
- Focus practice on sticking to plans, not just finding opportunities
- Consider mental training techniques to instill discipline
Developing solid habits and mental muscle memory leads to real trading success.
Access my advanced Onix Range Detector Indicator
Troubleshooting Mobile App Paper Trading Issues
Here are some common paper trading questions:
Cannot find paper trading? Update app to latest version. Check web account settings.
Samples trades not filling? Ensure good internet connection. Try rebooting app.
Orders filling oddly? Use limit orders for realistic fills vs market orders.
Paper and live balances mixed up? Log out and back in to reset. Contact support if issue persists.
Don’t hesitate to reach out to TradingView’s mobile support team if significant paper trading issues arise.
The Power of Practice with Paper Money
Mastering paper trading across TradingView’s web and mobile apps provides a risk-free environment to gain experience without losing real capital.
I highly recommend active paper trading on mobile to ingrain strategy, risk management, and emotional control skills anywhere your phone goes. It’s a game changer for comprehensive trader development.
I hope this guide helps you tap into the potential of TradingView’s mobile paper trading tools. Let me know if you have any other questions!