Paper trading and analysis using tradingView – Upwork
Step 1: Market analysis
Select multiple financial instruments: Choose at least four different financial instruments (e.g., stocks, forex pairs, cryptocurrencies) that you want to analyse and paper trade.
Technical analysis: Perform technical analyses of the chosen instruments using TradingView's charting tools. Identify trends, support/resistance levels, and potential entry points.
Step 2: Strategy development
Trading strategies: Develop a unique trading strategy for each chosen instrument based on your technical analyses. Define entry conditions, stop-loss levels, profit targets, and any additional criteria.
Risk management: Calculate position sizes based on your risk tolerance and strategies. Decide on appropriate risk-reward ratios for each trade.
Step 3: Paper trading execution
TradingView paper trading: Use TradingView's paper trading function to execute the developed trades for each instrument. Enter the trade details, including entry price, stop-loss, and profit target.
Monitoring and trade management: Monitor the paper trades as they progress. Consider adjustments to stop-loss or profit target levels if market conditions change.
Step 4: Evaluation and Reflection
Trade outcome analysis: After the paper trades are closed, analyse the outcomes of each trade. Did they hit your profit targets or stop-loss levels? Assess the effectiveness of your strategies.
Reflection and lessons learned: Reflect on the paper trading experience for each instrument. What strategies worked well? What could be improved? Identify lessons learned for future real trading experiences.
Assignment Instructions:
Prepare a detailed report summarising your paper trading experience for each instrument. Include technical analyses, strategy details, trade executions, and trade outcome analyses.
Utilise charts, graphs, and visuals to illustrate your technical analyses, strategy developments, and trade outcomes.
Submit a comprehensive report that covers all aspects of the paper trading process using TradingView for multiple instruments.
Budget: $50
Posted On: October 07, 2023 13:06 UTC
Category: Financial Analysis & Modeling
Skills:Financial Analysis, Statistics, Forex Trading, Trading Strategy, Cryptocurrency, Technical Analysis
Skills: Financial Analysis, Statistics, Forex Trading, Trading Strategy, Cryptocurrency, Technical Analysis
Country: Netherlands
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2023-10-07 19:06:19,
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