How To Use paperMoney In Thinkorswim

In this video I show you how to log into paperMoney in Thinkorswim so you can learn how to set up the platform in a way that works for your trading style.

If you don't know what works well for your trading style paperMoney allows you to explore this in a risk free way to make learning carefree.

In a simulated account you use fake money but almost everything else is real.

There are a few things in a live brokerage account that will be different however these differences are mostly minor and you will easily be able to learn the how to use Thinkorswim, learn various trading strategies allowing your confidence to increase so you feel comfortable using your real money account when you are ready.

Naysayers of paper trading will site the lack of emotion in a paper account verses a real money account.

This is true and a feature not a bug.

When emotion goes up, intelligence goes down.

Which is why most sports are practiced BEFORE the actual game.

When you know what buttons to click, when to click them and why you can focus on controlling your emotions of fear and greed instead of attempting to figure out what tab the risk profile is under while you are also attempting to control your emotions.

Before you get in the ring for a competitive fight, it is wise to learn the proper mechanics of punching and blocking so you can focus on your opponent instead of trying to figure out how to slip a punch for the first time with multiple trained punches coming your way.