How To Change Paper Trading Amount In Thinkorswim App
Are you a fan of paper trading in the Thinkorswim app? If so, you'll be pleased to know that changing the paper trading amount is an easy process. Paper trading is a great way to gain investing experience without risking any of your own money. By changing the paper trading amount, you can test out different investment strategies and see what works best for you. Here's a step-by-step guide on how to change the paper trading amount in Thinkorswim.
Step 1: Open the Thinkorswim App
The first step is to open the Thinkorswim app. To do this, you'll need to log in to your account. Once you've done that, you will be taken to the main page. Here, you'll find a number of options such as trading, news, and research. Click on the trading option to proceed to the next step.
Step 2: Choose the Paper Trading Mode
Once you're in the trading page, you'll need to select the "Paper Trading" mode. This will allow you to make fake trades without using any of your own money. On the left side of the page, you'll find the paper trading mode. Make sure it is selected and then click on the "Create Paper Trading Account" button. This will open up a window where you will be able to create your paper trading account.
Step 3: Enter Your Paper Trading Amount
The next step is to enter the amount of paper trading money you want to use. This is the amount that you will be able to use for making fake trades. Enter the amount you want to use and then click on the "Create Account" button. This will create your paper trading account.
Step 4: Change Your Paper Trading Amount
Now that you have your paper trading account set up, you can change the amount of money you want to use for paper trading. To do this, go to the "Accounts" tab in the main menu. Here, you'll find your paper trading account. Click on it and then select the "Settings" option. This will open up a window where you can enter the new amount of paper trading money you want to use. Enter the new amount and then click on the "Save" button.
Step 5: Start Trading with Your New Amount
Once you've saved your new amount, you can start paper trading with it. To do this, go back to the main page and then select the "Trading" option. Here, you'll find a number of different trading options. Select the one you want to use for paper trading and then start trading with your new amount. You can make as many fake trades as you want and see what works best for you.
Conclusion
Changing the paper trading amount in Thinkorswim is an easy process. All you need to do is open the app, select the paper trading mode, enter the amount you want to use, and then save your changes. Once you have done that, you can start making fake trades with your new amount. This is a great way to gain investing experience without risking any of your own money. So, what are you waiting for? Try it out today!
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