How To Reset Paper Trading Account On TradingView – A Complete Guide
TradingView’s paper trading functionality allows traders to simulate trades in a risk-free environment. But after making practice trades, how do you reset your paper trading account to start fresh with a clean slate?
In this step-by-step guide, we’ll cover common reasons to reset your TradingView paper account, walk through the reset procedures, and provide tips to get the most out of paper trading. Follow along!
Why Reset the Paper Trading Account?
Before diving into the reset process, let’s discuss some key reasons for resetting your TradingView paper money account:
- Start fresh testing a new strategy – Clear previous simulated trades for clean testing.
- Fix unexpected issues or errors – Resetting can troubleshoot odd account balance problems.
- Practice prudent risk management – Reset periodically to simulate periodically rebalancing.
- Test portfolio drawdowns – Reset to practice trading out of extended losing stretches.
- Verify order types – Reset to re-test fills for stop losses, take profits, brackets, etc.
- Simulate multiple market scenarios – Reset to train skills in bull, bear, choppy markets.
Regularly resetting the paper account provides more reps implementing and assessing strategies.
Step-By-Step Guide to Resetting TradingView Paper Money
Resetting the paper trading account only takes a few clicks:
- Open Paper Trading module, go to Portfolio tab.
- Click on ‘Account Actions’ button near the top right.
- Choose ‘Reset Paper Account’. Confirm you want to reset.
- Paper account balance and history will be reset to defaults!
The reset paper trading data is now cleared out and ready for new practice trades.
Best Practices for Productive Paper Trading
Follow these tips to maximize your learning from paper trading on TradingView:
- Treat simulated trades like real money to get the full experience.
- Paper trade strategies across different market conditions.
- Occasionally reset account mid-strategy to simulate drawdowns.
- Maintain detailed statistics tracking trades.
- Review filled paper orders to catch execution irregularities.
- Follow standard position sizing rules and risk management.
- Verify orders like OCO brackets, stop limits, trailing stops, etc fill correctly.
- Code indicators and strategies in Pine Script for enhanced paper trading.
Paper trading well takes discipline but prepares you for live markets.
Troubleshooting Questions and Issues
Some common paper trading questions:
Account won’t reset? Try refreshing the browser or Logging out and back in.
Simulated fills delayed? Check system connection and restart. Orders should fill instantly.
Orders not behaving expected? Double check order types selected and parameters.
Strange execution prices? Be sure to use LMT orders for realistic fills vs MKT orders.
Don’t hesitate to contact TradingView support if significant issues persist.
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Key Takeaways from Paper Trading
- Reset paper accounts regularly to practice implementing strategies.
- Fix odd errors by resetting account and troubleshooting.
- Treat simulated trading seriously like real money.
- Use paper trading to test execution behaviors.
- Code Pine Script strategies to backtest ideas.
- Maintain detailed performance statistics for analysis.
Let me know if you have any other paper trading questions! Good luck in the markets.