What if I profit in the paper trade account?

If you profited because you followed your own trading rules, and consciously controlled the emotional/psychological impact those trades may have had on you (you weren't lucky), then you're on the right track for consistency and can determine if you want to adjust the TradingWheels paper trade to live login ratio or not.

Note: Your paper trade account will automatically sync to the same value as your live account once all of your positions are flat and you have no outstanding working orders when you re–login.

What if I lose money in the live account?

Over time, you should be able to isolate if you lost money because of emotional/psychological reasons (fear, greed, or just irrational thought) or because of your trading methods and make any necessary adjustments. TradingWheels is designed to address your trading psyche and improve your trading confidence.

Note: Your paper trade account will automatically sync to the same value as your live account once all of your positions are flat and you have no outstanding working orders when you re–login.

What if I profit in the live account?

If you profited because you followed your own trading rules, and consciously controlled the emotional/psychological impact those trades may have had on you (you weren't lucky), then you're on the right track for consistency and can determine if you want to adjust the TradingWheels paper trade to live login ratio or not.

Note: Your paper trade account will automatically sync to the same value as your live account once all of your positions are flat and you have no outstanding working orders when you re–login.

Do you have a preferred broker?

The TradingWheels program needs to have access to quality paper trade and live pricing and execution to work properly and many firms simply don’t have great quality in both. This service is available with GFT (FX) and GFTUK (FX and CFDs) as we feel they can provide you with the highest quality of both to ensure your paper trade experience is as close to a live account as possible.

How long should I use TradingWheels?

This is completely up to you. While using this product you should begin to realize just how much emotions play in your trading decisions and be able to go back and analyze why you entered or exited each trade decision, what you were thinking, and if you made the decision based on your own predefined methods you set for yourself, or if you got in your own way. Once you feel comfortable that you can better understand your emotions to your satisfaction, you can scale back on using it or shut it off if you like and come back to it later.

How will I know if I made money in my live or paper trade account?

When all of your positions are flat and you have no outstanding working orders (you are not long or short anything in either your live or paper trade account, nor do you have any stop or limit orders unfilled) and you logout and re-log back in the system everything re–balances to your live account balance every time. So, if you made (or lost) money in your paper trade account you will not see any changes to your balance after you re–login. However, if you made (or lost money) in your live account then the balance in both your live and paper trade accounts would show the new live balance.

Will you offer other platforms with your system?

Yes, some are already in development but you can email us at: info@trading-wheels.com

How do I get support outside of the FAQ section?

The 3rd party companies we work with found on this site should help you on most questions you have that is relevant to their product or service. For a TradingWheels specific question, you should be able to find your answers in this FAQ section. If you cannot, simply email us your question at: info@trading-wheels.com

How can I tell if the trades went into my live or paper trade account?

Once you are flat (no open positions, or working orders), you need to log off of you data connection (or close the program) and log back in. Once you do that you will see in the “TradingWheels Connection Report” if the trades went into your live or paper trade account. You will also be able to tell by looking at the Equity in your account as the TradingWheels system will automatically sync to your Live account balance (ie: if you traded and had any profit or loss on a trade and the Equity changed, then you know it was on your live account. Or, if you traded and made a profit or loss and the Equity did not change, then you know it was on your paper trade account.)

Can I export the TradingWheels connectivity report?

Yes you can using Excel, TXT, or CSV.

Who do I contact if I have a question on software functionality?

If it is a TradingWheels software question please go to our Support page and be sure to detail your inquiry with as much information as possible so we can help you as soon as possible. If it is a Ninja Trader software question than please follow their processes at: NinjaTrader Support

Who do I contact if I have a trade or dealing question?

Please contact the broker or clearing firm whom you opened your account with.

What if either the live or paper trade account does not connect?

Please contact the broker or clearing firm with whom you opened your account to start and ensure you are typing in the correct username and password information for each account.

Can I have trades in both my live and paper trade account?

No, the TradingWheels program does not allow trades (positions or orders) to be in both your live and paper trade account at the same time while in use. If you turn off TradingWheels and login separately then this can occur. Don’t paper trade accounts act differently than live accounts so I’ll be able to tell which is which anyways when I trade? GFT has agreed to give TradingWheels users a paper trade account that is on the same servers as their live accounts. Most paper trade accounts are set up in second tier environments so this is quite rare and designed specifically so you will not be able to tell if you are in your live or paper trade account.

Why is their a $2,500 USD minimum account value to open an account and use TradingWheels?

TradingWheels was developed for experienced traders of all types looking to improve their trading emotional intelligence. Smaller account sizes attract novice traders or other speculators who should not be trading at all and may not understand the true value of the TradingWheels application.

Why is TradingWheels available only for Forex and CFDs (non-US)?

We are already working on solutions for other markets but would love to hear your comments on which markets and which providers you would prefer.

Can I turn TradingWheels off?

Of course you can. Simply Un–select the “Use Randomizer” button in the TradingWheels Configuration screen. You can also adjust the randomizer to be 100% live and 0% paper, or even 100% paper and 0% live if you like.

Can I use a TradingWheels account between multiple front–end's?

A TradingWheels account is designed to only work within the same software (GUI) at all times. Trading in one software with a TradingWheels account and then trading in another software with the same TradingWheels account will cause errors. For example, if you are using your TradingWheels account with Ninja Trader’s software, then you must continue to do all of your trading with Ninja Trader software. You should NOT trade in both Ninja Trader’s software and GFT’s software with the same account at any time.