Feeling a little stuck with your paper trading on Webull? Perhaps you've made some fantastic (or not-so-fantastic) virtual trades, and now your account balance is either soaring to unrealistic heights or has plummeted to the virtual abyss. Whatever the reason, you're ready for a fresh start, a clean slate to test new strategies, and explore the market without the baggage of past simulated performance. You've come to the right place!
This comprehensive guide will walk you through exactly how to reset your paper trading account on Webull. We'll cover everything from finding the right option to understanding what a reset entails, ensuring you're ready to dive back into the simulated market with renewed confidence.
A Fresh Start: How to Reset Your Webull Paper Trading Account
Webull's paper trading feature is an invaluable tool for both beginners and experienced traders. It allows you to practice trading stocks, options, and ETFs with virtual money in a real-time market environment, all without risking your hard-earned capital. But just like in real life, sometimes you need to hit the reset button.
Let's get your virtual trading journey back on track!
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| How To Reset Paper Trading Webull |
Step 1: Accessing Your Paper Trading Account
Before we can reset anything, you need to be in the right place!
Are you on the Webull mobile app, desktop platform, or web browser? Webull offers a seamless experience across all platforms, but the exact navigation might differ slightly. We'll focus on the mobile app as it's the most widely used, but the principles apply to others.
If you're on the Webull Mobile App:
Open the Webull app on your smartphone or tablet.
Look for the "Menu" or "Profile" icon. This is usually located in the bottom right corner of the screen, represented by a silhouette of a person or "Menu."
Tap on it to open your personal profile and settings.
If you're on the Webull Desktop Platform:
Launch the Webull desktop application.
Navigate to the "Paper Trading" section. This is often an icon that looks like a dollar sign in a square, usually found in the left-hand sidebar or top menu.
If you're on Webull Web (
app.webull.com/paper Open your web browser and go to the Webull paper trading URL (you might need to log in if you haven't already).
Once logged in, you should see your paper trading dashboard.
Step 2: Locating the Paper Trading Interface
Once you're in the general profile or menu section:
Find the "Paper Trading" or "Simulated Trading" option. On the mobile app, after tapping "Menu," you'll usually see "Paper Trading" as a distinct option in the list. Tap on it.
You should now be in your paper trading environment, seeing your virtual balance, open positions, and order history. This is where all your simulated trading action happens.
QuickTip: Skim the ending to preview key takeaways.
Step 3: Initiating the Reset Process
Now for the main event! The option to reset your paper trading account is usually found within the paper trading interface itself.
Look for an icon or button related to "Reset," "Manage Account," or "Settings" within the Paper Trading section. This might not be immediately obvious, so take your time to scan the screen.
On the Webull Mobile App, in the paper trading section, often there's a small gear icon (⚙️) or a "More" option, or even a direct "Reset" button near your account balance or account details.
If you're having trouble finding it, try looking for a small "..." (three dots) icon, which often indicates more options.
Once you find it, tap or click on the "Reset" option. This will typically bring up a confirmation prompt.
Step 4: Confirming Your Reset
This is a crucial step!
Read the confirmation message carefully. Webull will inform you that resetting your paper trading account will clear all your current positions, order history, and reset your virtual balance to its initial amount (which is usually $1,000,000 USD, though this can vary based on Webull's current offerings or if you've previously adjusted it).
Understand the implications:
All your virtual trades will be gone.
Your profit/loss history will be wiped clean.
Your virtual cash will return to the starting balance.
If you're sure you want to proceed, confirm the reset. There will typically be a button like "Confirm," "Reset Account," or "OK."
Be absolutely certain before you confirm, as this action is usually irreversible for that specific paper trading session.
Step 5: Verifying the Reset
Once you've confirmed, the paper trading account should refresh.
Check your virtual balance. It should now be back to the initial amount (e.g., $1,000,000).
Verify that your open positions and order history are empty.
Congratulations! You've successfully reset your Webull paper trading account. You now have a fresh start to experiment with new strategies, refine your trading skills, and learn from a clean slate.
Sub-heading: Why Reset Your Paper Trading Account?
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Resetting your paper trading account can be incredibly beneficial for several reasons:
To Test New Strategies from a Baseline: If your account has grown significantly or dipped substantially, it can be hard to gauge the effectiveness of a new strategy. A reset provides a clean starting point.
To Simulate a Different Starting Capital: While Webull typically starts you with a large sum, you might want to simulate trading with a smaller, more realistic amount if you ever intend to transition to live trading with less capital. (Note: Webull's direct reset usually brings you back to the default large sum, but you can sometimes adjust subsequent virtual deposits/withdrawals to simulate a different starting point if the platform allows.)
To Clear Clutter: A long history of simulated trades can make the interface feel cluttered and hard to analyze. A reset cleans it up.
To Overcome "Virtual Losses" Psychology: Even though it's not real money, a significant virtual loss can still be demotivating. A reset offers a psychological fresh start.
To Prepare for a Specific Trading Challenge: If you're undertaking a personal trading challenge with certain rules, a reset ensures your starting conditions are met.
Tip: Skim once, study twice.
Sub-heading: Tips for Effective Paper Trading After a Reset
Now that you have a clean slate, make the most of it!
Set Clear Goals: What do you want to achieve with this new paper trading session? Are you testing a specific indicator, a new entry/exit strategy, or simply learning the platform?
Treat It Like Real Money: This is perhaps the most crucial tip. The more seriously you take your paper trading, the more valuable the learning experience will be. Don't make reckless trades just because it's virtual money.
Journal Your Trades: Keep a record of your paper trades – why you entered, why you exited, what you learned. This is invaluable for identifying patterns in your decision-making.
Experiment with Different Order Types: Webull offers various order types (market, limit, stop, stop-limit, etc.). Practice using them in paper trading to understand their nuances before using them with real money.
Utilize Webull's Tools: Explore the charting tools, technical indicators, and news feeds within Webull to enhance your simulated trading decisions.
Don't Rush to Live Trading: Only consider live trading when you consistently demonstrate profitability and confidence in your strategies during paper trading.
10 Related FAQ Questions
Here are some frequently asked questions about Webull paper trading, structured to help you further:
How to start paper trading on Webull?
To start paper trading on Webull, first download the Webull app or access their desktop/web platform. After creating and logging into your account (no funding required for paper trading), navigate to the "Paper Trading" section, usually found in the main menu or sidebar, and activate your virtual account.
How to find the paper trading feature on Webull?
On the Webull mobile app, tap the "Menu" or "Profile" icon (bottom right), then select "Paper Trading." On the desktop platform, look for the dollar sign icon in a square on the left-hand sidebar. On the web platform, visit
Tip: Use this post as a starting point for exploration.
How to deposit virtual money into Webull paper trading?
Webull typically starts your paper trading account with a default amount (e.g., $1,000,000). While there isn't usually a direct "deposit" option like a real bank, resetting your account (as detailed in this guide) will replenish your virtual funds to the initial amount.
How to practice options trading on Webull's paper trading?
Webull's paper trading includes options! Once in the paper trading environment, select a stock, go to its options chain, and place your simulated options trades just as you would with real money.
How to check my paper trading history on Webull?
Within the "Paper Trading" section of Webull, you'll find tabs or sections for "Order History," "Positions," and "Account Details," which display all your past simulated trades and their outcomes.
How to know if I'm in paper trading or live trading on Webull?
Webull's paper trading interface has distinct visual cues, often a different color scheme or a clear "Paper Trading" label at the top of the screen. Always double-check this before placing any trades to ensure you're in the correct mode.
Tip: Reread complex ideas to fully understand them.
How to adjust the starting balance for Webull paper trading?
Generally, Webull resets your paper trading account to a default large sum (e.g., $1,000,000) when you initiate a full reset. Webull does not typically offer a direct option to manually set a lower initial virtual balance, but you can always virtually "withdraw" funds after a reset to simulate a smaller starting capital.
How to switch between paper trading and live trading on Webull?
On the Webull mobile app, you can usually switch between your live brokerage account and your paper trading account from the "Menu" or "Profile" section, often through a dropdown or toggle at the top of the screen.
How to access paper trading on Webull Desktop?
On the Webull Desktop platform, look for the "Paper Trading" icon, often a dollar sign in a square, usually located in the left-hand navigation bar. Clicking this will take you to your simulated trading environment.
How to delete all paper trades on Webull without resetting the balance?
Webull's primary "reset" function for paper trading typically resets both your trade history and your balance to the initial amount. There isn't a separate option to only clear trade history while retaining a custom virtual balance. The "reset" is usually an all-encompassing clear-out.
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