Paper trading is a stock market simulator. Tradingview enables you to work on paper trading in an easy way: it’s embeeded and you can launch the positions very easily.
I have started to use it as part of the tests I’m doing. It has pros and cons.
It’s very clear and it’s very intuitive to create the positions, move the stop-loss, etc.
- Mentally you do not have the pressure of the real money you are investing.
- You launch positions very quickly and they are executed very quickly. Real live does not work like this, and I still do not understand all that happens in the middle. To launch positions in Kraken is very different and the behavior of the market (offer and demand) is different as paper trading operates.
Paper trading is in any case a good tool for testing, and monetize the positions you perform and check if the strategy and the way to put it in place works.