How To Do Paper Trading With TD Ameritrade

By Timothy Yslava | Reviewed by Samantha Baltodano

How To Do Paper Trading With TD Ameritrade

Feeling like the Wolf of Wall Street, but don't quite have the cash to back it up? No problem! 

With paper trading on TD Ameritrade, you can test your trading skills and strategies without risking a single penny of your hard-earned money.

Here's how to get started:

1. Head on over to the TD Ameritrade website and log in to your account.
2. Click on the "Trading" tab at the top of the page.
3. From the drop-down menu, select "PaperMoney". This will transport you to the paper trading platform, where you can make all the trades you want without any real consequences.
4. Click on the "Create New Account" button and follow the prompts to set up your paper trading account. This includes selecting a username and password, as well as choosing your preferred market data and account settings.
5. Once your paper trading account is all set up, you can start placing trades using fake money. The platform will track your virtual portfolio and allow you to see how your trades would have performed in the real market.
6. To place a trade, simply search for the stock or ETF you want to trade and click on the "Trade" button. Then, follow the prompts to enter your trade details, such as the number of shares and the price at which you want to buy or sell.
7. You can track your virtual portfolio and see how your trades are performing by clicking on the "Portfolio" tab at the top of the page.
8. When you're ready to call it quits for the day, simply log out of your account. Your virtual portfolio and trade history will be saved for you to review at a later date.

With paper trading, you can become a master trader without any of the risk. 

So go ahead and give it a try – who knows, you might just be the next Gordon Gekko in the making!

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