Paper Trading Trading View Checklist: Never Miss a Key Step

Paper Trading Trading View Checklist: Never Miss a Key Step

Paper trading trading view sessions produce genuine learning only when structured deliberately. A random collection of simulated trades without defined rules, size discipline, and post-trade review does not prepare you for live trading. It just practices random activity. This checklist covers every step from setup to session review so that each paper trading session produces transferable insight.

Key Takeaways

• Paper trading on TradingView starts with a defined strategy, not an open account and a chart. Decide the strategy type (value entry timing, swing trading, dividend stock accumulation) before placing the first order.
• Position sizing in paper trading should mirror what you would use in a live account. Using unrealistic position sizes removes the risk management discipline the simulation is supposed to teach.
• Fundamental screening before the session ensures you paper trade stocks you understand fundamentally, not just stocks with appealing chart patterns.
• The post-session review is where most of the learning happens. Reviewing each closed position against the original thesis is more valuable than the trade itself.
• Swing trading screeners and day trading screeners require different criteria. Understanding the difference before starting the paper session prevents misaligned setups.
• TradingView's undo function works for drawings, not for trades. Treating paper trade decisions as irreversible, just as live trades are, builds the right mental discipline.

The Complete Paper Trading TradingView Checklist

Before the Session

• Define the strategy type: value timing, momentum swing, dividend accumulation, or day trading simulation
• Run a fundamental screening pass using ROE, debt-to-equity, EPS growth, and payout ratio (use a dedicated screener for this step)
• Build a shortlist of 5-10 stocks that pass your fundamental criteria
• Add each shortlist name to a TradingView watchlist with alerts set at key price levels
• Check market holiday calendar: confirm the market is open on the simulation day
• Set the virtual account balance to match your intended live trading capital size

Opening the TradingView Paper Trading Interface

• Open TradingView and work through to any stock chart
• Click "Paper Trading" in the bottom trading panel to activate the virtual account
• Confirm the starting balance reflects your target simulation capital
• Verify the data feed type: real-time (paid or connected broker) versus 15-minute delayed (free plan)
• Set the chart timeframe matching your strategy: weekly chart for swing entries, daily for position trades, 5-minute for intraday practice

Placing a Paper Trade

• Identify the specific entry signal (technical trigger or valuation threshold) before clicking Buy or Sell
• Calculate position size: maximum 5-10% of virtual capital per position for realistic simulation
• Choose order type: market order if the entry is at current price, limit order if entering at a specific level
• Set stop-loss at the level where the trade thesis is invalidated
• Set take-profit at the initial target price based on your valuation or technical analysis
• Record the trade in a journal: entry date, price, thesis, stop-loss level, take-profit target

Managing Open Positions

• Review open paper positions daily, not multiple times per session (prevents reactive decision-making)
• Check whether the fundamental thesis has changed: earnings release, debt change, management news
• Do not move stop-loss orders in the loss direction. This is a common discipline failure in paper trading
• Record any fundamental changes in the trade journal as they occur

Closing a Position

• Close based on the pre-defined exit criteria (target reached, stop hit, or thesis changed)
• Record the exit price, date, and reason for closure
• Calculate the actual P&L versus the expected P&L at entry
• Note whether the exit was disciplined (rule-based) or emotional (market noise reaction)

Post-Session Review

• Review all closed trades from the session against original thesis
• Identify the percentage of trades where the entry thesis was correct
• Separate outcomes by strategy type: which strategy produced the best risk-adjusted results
• Note which fundamental filters caught the winning trades and which failed to prevent losses
• Update the screener criteria if systematic losses cluster in a specific indicator range

How to Paper Trade on TradingView

Activate paper trading from the bottom panel of any TradingView chart. The default account starts at $100,000 virtual. Adjust in the settings. Place trades via the Buy/Sell interface. Monitor in the Positions tab. Close via the position panel or an offsetting order.

For the fundamental screening step in the pre-session checklist, use our screener which covers 120+ indicators including ROE, ROIC, free cash flow yield, and debt-to-equity across 73 global exchanges. The screener builds the quality watchlist that TradingView then helps you time and execute.

What Is Fundamental Analysis in Trading

Fundamental analysis determines which stocks are worth trading. It evaluates ROE (return on equity), P/E (price to earnings), debt-to-equity, EPS growth, and free cash flow to identify businesses trading below intrinsic value or at prices that reflect quality the market underappreciates.

Apple (AAPL, P/E 28.3, ROIC 45.1%) and Microsoft (MSFT, P/E 32.1, ROIC 35.2%) pass high-quality fundamental screens despite elevated multiples because the ROIC justifies the earnings premium. A company with ROIC below its cost of capital fails fundamental screens regardless of how attractive the chart looks.

Is Fundamental Analysis Needed for Swing Trading

For the checklist above to work effectively for swing trading, fundamental filtering in the pre-session step is necessary. Swing trading without fundamental filtering exposes you to earnings-driven gap-downs that no technical setup predicts. The checklist pre-screens these risks before you get to the chart analysis step.

Further reading: SEC EDGAR · Investopedia

Related ValueMarkers Resources

• Roe — Glossary entry for Roe
• Debt To Equity — Glossary entry for Debt To Equity
• Pb Ratio — Glossary entry for Pb Ratio
• Tradingview Paper Trading — related ValueMarkers analysis
• Paper Trading Tradingview — related ValueMarkers analysis
• Etf Gold Investing — related ValueMarkers analysis

Frequently Asked Questions

how to paper trade on tradingview

To paper trade on TradingView, open any stock chart and click "Paper Trading" in the bottom trading panel. The virtual account activates with a $100,000 default balance. Adjust the balance in settings to match your target live account size. Place orders using the Buy or Sell buttons in the order panel, selecting share quantity, order type (market or limit), and any attached stop-loss or take-profit levels. Confirm the order. The position appears in the Positions tab with real-time P&L. Close positions by selecting them and clicking Close Position.

what is fundamental analysis in trading

Fundamental analysis in trading evaluates a company based on financial metrics rather than price charts. The core inputs are earnings quality (EPS, ROE, net margin), financial health (debt-to-equity, interest coverage, free cash flow), and valuation (P/E, P/B, EV/EBITDA). The goal is identifying whether a stock trades at a premium or discount to the intrinsic value of the underlying business. Fundamental analysis provides the investment thesis; technical analysis helps time the entry within that thesis.

is fundamental analysis needed for swing trading

Fundamental analysis improves swing trading by filtering out companies with elevated earnings risk. Applying ROE above 12%, debt-to-equity below 1.5x, and positive EPS growth as minimum quality thresholds to your watchlist reduces exposure to gap-down events driven by deteriorating business fundamentals. These quality filters do not predict short-term price moves, but they reduce the frequency of catastrophic losses from fundamental deterioration, which is the most common cause of large, unrecoverable losses in swing trading.

how to use stock screener for day trading

For day trading, screen pre-market for stocks gapping above 3% on news, with average daily volume above 500,000 shares and relative volume above 2x the 30-day average. TradingView's screener supports these technical character filters. Set price and volume alerts on qualifying names rather than running continuous scans during the session. Limit the daily watchlist to 3-5 names to maintain focus on execution quality rather than spreading attention across too many simultaneous opportunities.

how to use stock screener for swing trading

For swing trading, build a two-stage screen. Stage one applies fundamental quality filters: ROE above 12%, debt-to-equity below 1.5x, at least three years of positive EPS growth. Stage two adds technical entry conditions: RSI below 50, price above the 200-day moving average, and recent volume above the 30-day average. Run stage one in a dedicated fundamental screener, then apply stage two in TradingView to identify timing. Stocks passing both stages form your swing trade watchlist for the week.

how to use a stock screener for day trading

A day trading screener runs multiple times throughout the session. The pre-market scan (6:00-9:15 a.m. Eastern) identifies gap candidates on news. The first 30-minute scan (9:30-10:00 a.m.) identifies names with volume above 3x average and clear price direction from the open. Midday scans (11:00 a.m.-1:00 p.m.) often show lower-quality setups as volatility compresses. The late-session scan (3:00-3:45 p.m.) identifies momentum continuation or reversal candidates into the close. Use TradingView's screener with volume and price filters for each of these scans during a real-time session.

Use our academy to build the fundamental analysis skills that make this paper trading trading view checklist productive before you apply it to live capital.

Written by Javier Sanz, Founder of ValueMarkers. Last updated April 2026.

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Disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consult a licensed financial advisor before making investment decisions.