Your first paper session.
One step at a time.
Learn the workflow before focusing on a result. Read the steps without an account, try a calculator, then open the workspace when you are ready to practise.
Read the market context
Choose live paper practice or an available replay recording. Check the quote status and timestamp. A running clock alone does not mean the market data is fresh.
Identify one option contract
Read the underlying, expiry, strike and call/put side together. Distinguish the index value from the option premium. Check the units per lot for the selected contract.
Explore a plan before an order
Use hypothetical entry, stop, target, quantity and costs in the calculators. Choose a practice question to review. A stop level does not guarantee the loss will stay within that amount.
Follow the paper-order confirmation
Create or open your practice account. Review the selected mode, contract, side, quantity and order type before submitting a paper order. Read its status in Orders; a click or chart line alone is not confirmation.
Review the process
Use Positions, Orders and P&L to compare your plan with the recorded outcome and costs. Ask what you followed, what you changed and what to improve. Review even when the result is positive.
What counts as a useful session?
You can explain which contract you observed, the assumption you made and how the outcome compared. Marking the checklist is your own reflection, not a qualification or proof that you are ready to risk real money.
Understand the limits of paper trading →