You already have a paper account. It was created with your login, holds 10,000 dollars of practice money, and runs on live Binance prices. There is nothing to connect.
Topping up or resetting
The Paper Funds page tops the account up or resets it to 10,000. Use it when a losing streak has made the numbers hard to learn from, and note in your journal that you did.
Spot or perpetuals
The ticket has two tabs. Spot / Market buys and sells the coin with no leverage; it cannot lose more than you put in. Perpetuals opens long or short positions with leverage from 1x to 100x; profit and loss count on the full notional, and the ticket shows the liquidation price, the margin and the fee before you confirm. The course trades perpetuals at low leverage and treats 2x as the sensible default.
Order types
- Market: fills now at the live price.
- Limit: rests at your price and fills when the market reaches it.
- Stop-Market and Stop-Limit (spot tab): arm at a trigger price and fire when it is hit.
- Reduce-only: the order can only shrink an existing position; the course uses it for staged exits.
Size and leverage
Type a dollar amount or use the 25 / 50 / 75 / 100 percent presets of your balance. On perpetuals, the leverage slider has 2x, 5x, 10x, 25x, 50x and 100x presets. Margin mode is Isolated (each position risks only its own margin) or Cross (all cross positions share your free balance). The course stays isolated.
Take-profit and stop-loss
The TP/SL block is on by default. Enter them as a percentage or as a price; the ticket checks they are on the right side of entry and warns when a stop sits beyond the liquidation distance, where it could never fire. Set both now; there is no edit button for them after the position is open, so this is the moment.
Watching and closing
Open positions show live profit and loss. Close all of it with the close button, or 25, 50 or 75 percent with the partial-close buttons. The journal records every fill with the reason: manual, take-profit, stop-loss or liquidation.
The course's practice drill, in dollars
The author's drill uses a Bitcoin-denominated balance. The paper account is in dollars, so: 10,000 dollar balance, 25 percent allocation is 2,500, five entries of 500. Place them as limit orders around a support zone, confirm the liquidation price is far below the zone, and let it play out. For exits, set the take-profit at resistance and add reduce-only limit orders a little below it so a wick that just misses the target still pays you something.
In the lab
Find a support zone on your coin, then run the drill on paper: five limit entries, a stop under the zone, a take-profit at the next resistance, four reduce-only limits under it.