Trading View Paper Trader - What DOes 1 Unit Mean?

Beginner Questions
1

Hello to All members of this wonderful Subreddit

So i just started paper (DEMO) trading today on tradingview just to get a hang of how the whole thing works and i have a basic question already.

My Account came with $100k Virtual Money and when i entered a trade thus

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Basically i bought 10 Units of BTCUSD at 46876.91 and sold at 46948.61 netting me a profit of 800$+

which i find confusing because what does 10 Units mean?

if 1 unit = 1 BTC then 10unit = 10BTC = $46976 * 10

which is way above my account balance (100k) - I read about PIPs and lots size and don’t see how 1 unit fits into what I read about micro lots etc.

can someone please explain what is going on to me,

thanks

2

Am i ghosted? I still need help figuring this out. Is anyone here?

3

Hi, depending on your broker you will have leverage on your account. If your leverage is 50:1 then your $100,000k turns into $5,000,000 of buying power (100,000 x 50). I believe this is why you have the ability to buy 10 bitcoins.

Lot sizes vary. A lot for currency pairs is 100,000 units, But I believe lot sizes for other things like indices is lower, like 10 or 100 (Someone else can correct me if I’m wrong…

4

Hi,

thanks for pointing this out! how do i check the leverage on my tradingview paper trading account?

thanks in advance

5

That’s a good question. I’ve tried Googling it, but nothing. If you’re in the US it’s probably 1:50, but don’t quote me on that.

Even if it was 1:10, that should be plenty to practice with. Realistically, you should only use an account size similar to what you plan to use on a live account. After all, if you’re serious about trading then you need to treat a practice account the same way you would treat a live account.

We all know $100,000 isn’t realistic, but at least you can learn the basics.

6

calculative discussion , thanks for your valuable opinion.

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