How to make a demo account
To practice, everyone should start on a demo account. This helps you develop some skills before you use real money. Let's be realistic here, you aren't going to be profitable on your first day. Let's save your money for when you can actually profit!
On trading view, the account is called a paper trading account. This is a built in feature you can use for free on trading view. Here we will talk you through on how to set it up.
What is paper trading?
Paper trading, also known as simulated trading, lets you trade with “fake” money and practice buying and selling securities. Everything is essentially the same as if you were trading with real money, except you can practice your hand at trading without any of the risk. Our system tracks your orders and you can see how much Profit or Loss (PnL) you have on your account. This helps you gauge how good you are at trading!
Where do i make an account?
You are going to navigate yourself to a chart of a coin. Once you get there, it should look like this:
In the bottom right there is a small square and you are going to want to click that
Once you click that square it will come up with the following:
You are going to want to click on the Trading panel button
Once you click that button it is going to display all the available brokers you can connect to. It should look like this:
from there you are going to click on the first broker it displays, the Paper trading one
after you click on connect, it automatically makes an account with $100k.
This is obviously a bit unreasonable, because you wont start with $100k when you start using your own money. So to change the settings of your account click on the settings icon next to your name
After you click on that button, you get to this screen. To make any chages on this you have to first click on ''reset account'' on the bottom left. After that you can change your leverage and your account balance.
this is a step by step guide on how to make a simulation/ paper account on ''tradingview'', it might be a bit different if you use a different application
Education, not advice. Nothing here is a recommendation to buy or sell anything, and every example is one trade rather than a rule.