How To Reset Paper Trading Thinkorswim App In 2023
What is Thinkorswim?
Thinkorswim is a comprehensive trading platform from TD Ameritrade. It is available for both desktop and mobile devices and is geared towards active, experienced traders. It offers a range of advanced tools and features, including real-time data feeds, options analysis, and paper trading. The paper trading feature allows users to simulate trading without risking real money. It can be used to practice trading strategies and become familiar with the platform.
Why Reset the Thinkorswim Paper Trading App?
The paper trading feature of Thinkorswim is a great way to practice trading without risking real money. However, over time, the results of your simulated trading may become skewed if you continue to practice with the same set of data. To ensure you get accurate results, it is important to reset the paper trading app regularly. This will reset the trading environment to its default settings and remove any data that has been accumulated.
How to Reset the Thinkorswim Paper Trading App
Resetting the Thinkorswim paper trading app is a relatively straightforward process. To get started, open the Thinkorswim app and select the “Paper Trading” tab. Once you are in the paper trading environment, click on the “Reset” button in the upper-right corner of the screen. This will open a dialogue box that will prompt you to confirm the reset. After confirming, the paper trading environment will be reset to its default settings and all data will be cleared.
Things to Consider When Resetting the Thinkorswim Paper Trading App
Before resetting the Thinkorswim paper trading app, it is important to remember a few things. First, any data accumulated in the paper trading environment will be lost when the app is reset. This includes any open trades, trades that have been closed, or any other data related to simulated trading. Additionally, any customized settings you have made to the paper trading environment will be lost when you reset the app. Finally, it is important to remember that the reset feature will only reset the paper trading environment and will not affect any real money trades you may have open.
Conclusion
Resetting the Thinkorswim paper trading app is an important step to ensure accuracy when practicing trading strategies. It is a relatively straightforward process that can be completed in a few steps. Before resetting the app, however, it is important to remember that all data and customization in the paper trading environment will be lost. Finally, it is important to remember that the reset feature will only affect the paper trading environment and will not affect any real money trades you may have open.
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