Warning!The documentation presented on this page is obsolete and is no longer updated. You can find the actual information here.
Paper trading (also known as simulated trading) lets you trade with “fake” money and practice buying and selling securities.
Everything is technically just like trading with real money, just without the risk.
Our system tracks your orders and you can see how much Profit or Loss (PnL) you have on your account, and gauge how good you are at trading!
Start by logging in to use paper trading.
Thinkorswim Paper Trading Stocks Tutorial - Thinkorswim Tutorial
By default your account balance is $100,000, which you can reset at any time.
The chart now has a floating “buy/sell” panel that lets you quickly enter orders. You can buy any security that actually trades.
The “buy/sell” panel can be hidden by right-clicking and choosing Hide. The hidden panel can be restored from chart settings, the Trading tab.
Another way to enter orders is to right-click the chart at the desired price. Orders can then be modified by dragging them up or down.
Chart settings let you configure how orders and positions are shown (order placement arrows, lines, etc).
The Trading Panel is at the bottom of the chart. It has a list of open positions and orders.
After reloading the chart, filled, cancelled and rejected orders are automatically deleted.
Editing/closing/cancelling orders can be done directly on the chart.
or in the Trading Panel
Reset the account at any time.
After a reset all order history and balance are restored to default values. Reset is in the account settings.