tracks your performance as it would if yo

 

5. Learn From The Tools

Utilize the free advanced ch usatimes.cc arts, back-testing, and trade simulation that comes free with the platform. Paper trading provides comprehensive trad usanews.cc ing graphs and reports to aspiring traders to learn from the parameters. You can also filter all these parameters by instruments and get information on the accounts traded.

As an aspiring trader, you have two choices with you. You can either adopt a strategy that is actively used by successful traders, or you can create your own unique strategy and implement it in paper trading to accep news t or discard it.

If you create your own strategy, prepare yourself to spend months or years testing and refining it before you can trade with real big money.

7. Track Yourself

The paper trading platform automatically tracks your performance as it would if you were using real money. You can analyze your paper trading results in detail to understand what is working and what is not. Analyze your mistakes, cross-check your actions, and figure out better strategies for the real market.

Paper trading alone is not enough to make you a successful trader. You need to improve your trading plan. You need to go back to the old trades and analyze your play. Look for patterns, observe the things you were good at, and the factors that led to losing trades.

8. Record Everything

When learning from your paper trades, don’t simply notice your entry and exit prices. Record as much detail as possible for all your trades.

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