#BinanceAcademy

How to Execute Your First Trade on Binance (Paper Trading Experience)

Step 1: What is a Paper Trade?

A paper trade is a trading process that does not use real money, helping you learn how to buy and sell without risk.

Step 2: How do you use the "Trading Simulator" or "Paper Trading" mode?

1. Use a website or app that offers free trading simulation (like TradingView or Binance Testnet).

You can create a free demo account there.

Virtual funds are available for trading.

2. Quick practical explanation on Binance Testnet:

Log into Binance Futures Testnet

Sign in or create a new demo account.

You will receive virtual funds.

Try opening buy and sell trades easily.

Step 3: Steps to Execute a Simple Buy Trade:

Choose a trading pair like ETH/USDT.

Specify the order type: "Market" (current market price).

Enter the purchase amount (e.g., 10 USDT).

Click "Buy/Long".

Watch how the trade is executed immediately.

Today's Exercise:

Register on Binance Futures Testnet (link above).

Open a buy trade at market price.

Monitor the price change and try selling in the same way.