Paper Trading Order Entry: Practicing the Trade, Not Just the Idea

Execution Is Its Own Skill

Most retail traders obsess over picking the right name and ignore the mechanics of getting in and out. That's backwards. A correct thesis executed sloppily — chasing with market orders, missing stops, over-sizing — routinely underperforms an average thesis executed cleanly. Paper trading exists precisely to practice execution in a consequence-free environment. The Order Entry card is where that practice happens.

What the Order Entry Card Shows

The Paper Trading Order Entry card accepts market, limit, stop, and stop-limit orders with quantity, time-in-force (DAY / GTC / IOC), and optional OCO (one-cancels-other) bracket for stop + target. The simulated fill price is determined from the current quote (bid for sells, ask for buys) plus a configurable slippage model (default 2 bps for liquid large-caps, 10 bps for small-caps). A live position-size calculator shows dollar risk based on entry distance to stop as you type, so you see whether the trade sizes to your per-trade risk budget before you submit.

Using It Well

Three habits turn the Order Entry card from a toy into a training tool. First, always enter the stop at order entry, not after the position is open — if you can't decide where you're wrong before you're in, you'll rationalize a worse stop after you're in. Second, size from risk, not from gut — if the calculator says this trade is 4% of account risk and your plan is 1%, either tighten the stop or cut size; don't ignore the math. Third, use the same order types you'd use live — if your real broker charges a marketable-limit premium, simulate that; don't paper-trade market orders if you live-trade limits.

Where It Fits

Pair with Account Summary for the running book, Positions for the open-risk view, Order History for after-action review, and Coach for AI-assisted execution feedback.

Open the Order Entry card → /app/paper-trading