What paper trading is, and what it is not
A paper trade is a simulated order. You pick an instrument, a quantity and a price, and the platform fills it against the live market just as a broker would, but with virtual capital. Your position, margin and profit or loss then move with the real price until you exit.
It is a rehearsal, not a prediction of live results. Slippage, emotions and position sizing feel different with real money. What paper trading does reliably is expose broken strategies, sloppy execution and poor risk habits while they are still free to fix.
How paper trading works on Trade Monky
Virtual wallet
Every account starts with virtual funds. Add more from the Funds screen whenever you want to test a different capital size. Nothing is ever charged for paper capital.
Live prices
Orders are marked against a live market data feed for NSE equity and index options, so fills, margin and P&L reflect what the market is actually doing.
Market, limit, stop-loss and target
Place market or limit orders, attach a stop-loss and a target, and let the platform exit the position for you when a level is hit. Intraday positions are squared off at the close, as they would be at a broker.
Trade history and analysis
Every closed trade is kept with its entry, exit, reason and realised P&L. The Analysis screen breaks results down by instrument, strategy and time so you can see what is working.
Who paper trading is for
- Beginners who want to understand order types, margin and P&L before opening a broker account.
- Traders moving from equity to options who need reps with strikes, expiries and premium decay.
- Anyone testing a new strategy, indicator or timeframe who wants numbers, not a hunch.
- Experienced traders rebuilding discipline after a drawdown.
Getting the most out of a simulator
Trade the size you would actually trade. Oversizing in a simulator teaches nothing. Write down why you entered before you enter, then compare the note with the outcome in your trade history. Give a strategy at least a few dozen trades before judging it, and treat a paper drawdown as seriously as a real one.
Frequently asked questions
Is paper trading on Trade Monky free?
Yes. Paper trading, virtual funds and trade analysis are free. No broker account or card is needed to start.
Are the prices real?
Yes. Paper orders are marked against a live NSE market data feed, not delayed or synthetic prices.
Can I paper trade options as well as stocks?
Yes. Index option chains and NSE equity are both available. See the options paper trading page for details.
Do paper results guarantee live results?
No. Simulated performance is hypothetical. Paper trading is for learning execution and testing strategies, not for predicting returns.