This is possible with Sanr which is a Decentralized paper trading Dapp and recently became partner of Leofinance and we've a club as well where all lions will be found and their overall trading performance.
I found this whole initiative a Great way to learn, improve trading and empowering strategies is all possible and I'll share how it's possible ahead in this.
What is Paper Trading?
Paper Trading is a concept to do practice with no investment or actual funds.
You can just Long/Short any coins like $BTC or others which is futures with use of leverage, take profits, stop loss like proper risk management. It is a way to improve your trading by doing practice.
What is Sanr?
Sanr is a Decentralized Application (Dapp) that is built for copy trading purpose in a way multiple members can form a club (community) and do paper trading than there's leaderboard and performances of people to signals by traders you can do copy with to open a real trade.
This is like trading and testing new strategies without risk of losing money.
Empowering Crypto Trading Strategies With Leofinance on Sanr
There's a Leofinance Club on Sanr where all Lions have joined as you can see below
And it is only major club on the platform so far with 69 members.
1. A Way to Empower Strategy with Lions
Couple of lions are actively doing paper trading like opening positions and performance can be seen on leaderboard like shown below
Currently I've made only 1 trade and that was a success and than opened some more positions today.
The way I'm improving my strategy is just study the market reading charts which is given on Dapp.
But as well as I take opinion or check sentiments on Leothreads as lions are there and by doing some talk about idea behind that trade you're about to open you get quite more clarity.
2. Using Leothreads to Improve it
The way I think everyone can improve in their trading strategy is everytime you open a position on Sanr you should create a thread and ask for what other lions think about it.
By exchanging thoughts and opinions on threads it could help to track your errors or mistakes and where you're doing good and better more easily.
3. Taking Notes of Error and Mistakes to Improve
Paper Trading is only beneficial when you're serious to improve your trading and it is important to take notes of your trades and see where you did mistake or error.
In my perspective you can learn it way better when you're actually aware of your mistakes than coming with a better plan helps to improve trading in real crypto.
How to Join Leofinance club on Sanr
You can join the Leofinance club on Sanr by clicking here and then connect your wallet with Metamask or connect wallet.
When you're in club now you can open signal to make your first paper trade and can track performance from leaderboard.
Wrapping Up...
In the end I hope you're taking Sanr and Leofinance to improve and polish your trading side... It's summer vacations and I'm focused on learning something.
So, just making journal and as well as following this path. Do let me know what your plans are and how's it going so far on Sanr in comments.
4/05/2023.