Paper Trading with Multiple Accounts & Currencies

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Level Up Your Trading Skills: Paper Trading with Multiple Accounts & Currencies on TradingView

If you are looking to sharpen your trading skills without risking a single dime, TradingView’s Paper Trading feature is one of the best tools at your disposal. A recent tutorial from the TradingView team highlights a powerful upgrade to this feature: the ability to create multiple paper trading accounts denominated in different currencies.

Whether you are a crypto native wanting to see your portfolio in Bitcoin or a forex trader practicing specific strategies, this update offers a versatile sandbox for everyone. Here is a breakdown of what you need to know.

Why Use Multiple Paper Trading Accounts?

The primary benefit of this feature is organization and specificity. Instead of jumbling all your experimental trades into one pot, you can now segregate them based on:

• Strategy: Create one account strictly for “Scalping” and another for “Trendline” trading. This allows you to track the performance of specific strategies independently.
• Currency: You can set up accounts where the base currency is USD, GBP, JPY, or even Bitcoin (BTC).

How It Works

Getting started is simple. From the chart view:

1. Open the Trading Panel at the bottom of the screen.
2. Select Paper Trading and click “Connect.”
3. In the account manager dropdown, click Create Account.

Here is where the magic happens. When creating a new account, you can select your preferred base currency. In the video, the team demonstrates creating a “Crypto Account” denominated entirely in Bitcoin.

The “Everything in Bitcoin” Experience

One of the coolest demonstrations in the tutorial is the ability to trade traditional assets priced in crypto.

• Trading Stocks in BTC: You can buy shares of a stock like Uber, but the order panel will calculate the cost in Bitcoin. For example, buying 50 shares of Uber might cost you 0.07 BTC.
• Real-Time Math: The system instantly converts the market value, risk percentages, and profit/loss (P&L) into your base currency.
• Global Currencies: The same logic applies if you choose Japanese Yen (JPY) or British Pounds (GBP). You can trade US stocks while seeing your P&L fluctuate in Yen.

Why This Matters

This feature transforms Paper Trading from a simple simulator into a robust educational environment. It allows you to:

• Simulate Reality: If you live in Japan or primarily hold Bitcoin, you can practice trading in a way that reflects your actual financial reality.
• Test Commissions: You can toggle simulated commissions on or off to see how fees would impact your bottom line.
• Visualize Risk: By seeing your stop-loss and take-profit targets in your chosen currency (e.g., risking 0.01 BTC to make 0.03 BTC), you get a clearer perspective on risk management.

Conclusion

Paper trading is essentially a “video game” mode for finance—a safe place to fail, learn, and improve. With the ability to toggle between multiple accounts and currencies, TradingView has made this simulator more realistic and flexible than ever.

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Disclaimer: This blog is for training and learning purpose only.

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