Be the Kid in the Candy Store

Perpetual ownership. With a two-year guarantee. USA Proxy (IP) for the first time. Installation assistance. Priority support. I’m paper trading TOS - traded real money on Robinhood while having TOS but only used the real time data for charting & that was for 3 months - switched to paper trading this week finally & just sticking with blue chips on Robinhood as TOS is much more professional & want to hone in on my strategy.

Now that you’re using paperMoney, there’s no better way to explore the power of the thinkorswim platform—with no risk—than by digging in and trying some things that you normally wouldn’t.

Of course, you can trade stocks in the trading simulator. But you can also do in-depth research on those biotech or fintech stocks you keep hearing about. Or maybe step outside your comfort zone and trade some new products or different asset classes.

Are you a stock trader who’s considering adding options to your strategy? paperMoney allows you to test the waters of basic options strategies. Or maybe you’re interested in futures and forex markets, which advanced retail traders and institutional investors use to speculate and hedge risk. You might realize you enjoy having access to these products. Or you might realize why such derivative products aren’t for everyone. (Note that not all investors will qualify for options, futures, or forex trading.)

paperMoney also offers you a great chance to try out different chart indicators and studies to see how they work in conjunction with your trading.

How to Make the Most of Virtual Trading

Next it’s time to develop your trading mettle by focusing on the assets and strategies you’re most comfortable with. Here are five helpful tips to get the most out of the paperMoney stock market simulator:

1. Optimize your layout. The paperMoney platform can be configured and customized. For example, the left column provides “gadgets” for watch lists, live news, Level II quotes, Trader TV, and much more. There’s even a scratch pad to write down trade notes. In the main screen, you can set up multiple charts in a flexible grid system. Take a little time to create the layout that works best for you.

Download Thinkorswim Paper Money

2. Use the power of data. Your own trading data and history can be a powerful learning tool, and with paperMoney, it’s all automatically at your fingertips. paperMoney records all your trades (including paper commissions) and provides a profit and loss (P&L) analysis. Reviewing this data regularly is a good way to spot holes in your trading strategies and fix them.