How do I paper trade?

[andy_p]

Andy; If you have to trade on paper then do that.
When the market opens tomorrow, watch for your set-up and when it appears, write down where you would have taken the trade. Then watch the market. If your stop gets hit, you have a paper loss. If your target gets hit you have a paper profit.
What is so tough about that?

Hello,

So I have to look at the charts and if I see a spike or the candle chart which touches the price where my stop loss was I just write it off as loss due to my stop loss? Is that all I have to do?

 

[easymon1]

You're a natural! Go get em tiger!

 

[deaddog]

Hello,

So I have to look at the charts and if I see a spike or the candle chart which touches the price where my stop loss was I just write it off as loss due to my stop loss? Is that all I have to do?

Follow the chart in real time just as you would if you were actually trading. When you decide to take a trade, instead of executing your trade, you write down the price you might have gotten.
Then follow the price action and write down where you executed your exit. That's paper trading.

It's much easier to have a simulator program that will accomplish the same thing.

If you are back testing then for sure if price touches your exit; count the trade as being executed at that price.

 

[nooby_mcnoob]

An analogy...

What you are trying to do is plot your position in the middle of the ocean using a sextant and stars, rather than the GPS device located right next to you.

FINALLY AN ANALOGY FROM OVERNIGHT THA T DOENT SUCK

 

[murray t turtle]

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

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Get a paper notebook;
for uptrending buys in a bull market.Paper trade , for example buy SPY at market close area. SEll SPY with a profit\ or cut a loss with SPLV.
Another hint= making money in an uptrending bull market is not rocket science; but dont try to use a 5 minute noise chart.
IF this last sentence makes no sense you havent done much trend study. Good question andy p,+ my comments apply to liquid stuff like SPY, SSO....................................................................