How do I paper trade?

A

andy_p

Hello,

I have a question and this seemed like the closest forum that I can put it in. I have a strategy I`ve bought it and it`s about gap trading. So I have an entry point and exit point or a take profit point. But I also have a stop loss. My question is how to I write it down on paper and how do I know, by looking at the chart or I don`t know how because this is the problem, how do I know if the stop loss hasn`t been triggered and It went on to be profitable to trade or if the take profit point was never ticked or my order wasn`t filled.
Thank you
 
Best way is to fund an account at IB pro for $500 and use their paper trading account. Not sure if you can do it with IB lite.

Another option is do it with TradingView which you have to pay monthly I think.
 
Sorry if this sounds harsh but why did you pay money for a strategy without knowing the basics of how to paper trade it? Which is mostly useless anyway.
 
nooby_mcnoob said:
I think he probably buys signals from https://mystrategicforecast.com/ who is a decent gap trader. If not, then he's probably screwed.
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Hello no i`m not buying signals. I`ve bought a strategy I can`t disclose it here but I just don`t know how to paper trade. Can someone please help me and tell me how to do it and take in account the fact that it also has a stop loss that might be triggered. Please don`t trah my thread if you can`t help with my question then just don`t answer
 
nooby_mcnoob said:
Best way is to fund an account at IB pro for $500 and use their paper trading account. Not sure if you can do it with IB lite.

Another option is do it with TradingView which you have to pay monthly I think.
More...
I need to paper trade on a piece of paper with a pen.
 
1. Get pen, paper and chart/data.
2. Write down what you bought for how much and when. Stop loss too.
3. Later on check back if SL was hit.
4. Profit
 
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