Paper trading allows you to trade using real-life exchange data with simulated crypto. This way, you can experience the platform without taking any risk.
With every paid subscription, you get the option to create one simulator (or paper trader). This makes it ideal for testing out strategies on your simulator so that you can use successful strategies on your live Hopper.
When you start your journey with Cryptohopper, you will be asked if you want to create a paper trading Hopper. We do always recommend to connect your exchange account, so that you get the full Cryptohopper experience.
How to create a new simulator
If you want to create a new simulator, go to Your Hoppers/View all your Hoppers in the top left of your dashboard.
Make sure that you don't already have a simulator or have enough subscriptions, as you can only have one simulator per subscription. Simulators demand a lot from our servers, hence why we've limited it to one per subscription.
Select the exchange and the base currency you want to use. We've made templates to give you a jumpstart with trading. When you've selected a template, toggle the "Paper Trading" switch to make it a simulator.
Now click the deposit button and deposit fake funds that correspond with your selected base currency. For example, in the previous GIF, we chose a USDT template, so we deposit USDT.
Your start balance should adjust automatically. Adjust it yourself if you already had funds on this paper exchange account.
Yes, you've created a simulator!
Paper Trading Accounts
You receive a paper trading exchange account for every exchange for which you create a simulator. This means that if you make two Binance simulators, you will see the same balance on both simulators. Therefore, a simple solution is that you select a different exchange for a second or third simulator. If you do not want that, you can create a new paper exchange account.
To create a new paper exchange account, go to the baseconfig of your simulator.
Erase Paper Trading Balance
Do you want to erase your current balance so you can start fresh? On your dashboard, go to your deposit & withdrawal area. There's a button that says "reset", click it and your balance will be removed. If you only want to remove one kind of currency, use the "withdraw" button and select the currency you wish to remove and fill in the amount to remove.
FAQ about paper trading
Do I need to attach a subscription to my paper trading hopper? No, you do not need to attach a sub to the paper trading hopper. But it is important to make sure the hopper is enabled.
How do I deposit funds in my paper trading hopper? In order to start trading, make sure to deposit funds in your chosen base-currency. When going to your dashboard, you will be prompted to deposit funds.
Are the results similar to trading with real funds? No, keep in mind that a paper trade hopper is not relying on the supply and demand but looks at the price of the coins. Also, trading fees are not included in paper trading.
Can I use arbitrage on a paper trade hopper? No, this is not possible on paper trade hoppers.
How fast is my simulator? Which tier Hopper does it mimic? The hopper stats are as followed:
- Interval Time : 10 minutes interval TA search
- Allowed coins : 75
- Max open positions: 80
- Allowed triggers : 2
- All coins for signals : Allowed