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In thinkorswim desktop, switch to paperMoney, then go to Monitor > Activity and Positions > Adjust account. Enter the cash amount you want for your simulated account and apply the change. Schwab’s walkthrough illustrates the control with $200,000, but that is an example—not a recommended balance.
Change the paperMoney account amount
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Sign in to thinkorswim in paperMoney mode. Check that you are in simulated trading rather than your live account before changing anything. Schwab describes paperMoney as a simulated-trading environment in its stock-trading simulator tutorial.
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Open Monitor, then select Activity and Positions.
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Select Adjust account.
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Enter the account cash amount you want and apply the change. Schwab’s stock tutorial demonstrates $200,000, while its simulated-options tutorial illustrates $10,000. Both are examples of custom amounts, not typical or recommended balances.
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Choose the right adjustment
Use Adjust account to change the account cash setting. If you only want to add cash while keeping the existing account setup, choose the separate Adjust cash action instead. Schwab shows both actions in its stock-trading tutorial.
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When to use a full reset
If you want to clear your practice activity rather than simply change the cash amount, use Reset All Balances and Positions. Schwab says this resets balances and positions, cancels working orders, and returns the account to its initial state. Its tutorials say a reset may take overnight to complete (stock tutorial; options tutorial).
What to know about the simulated balance
paperMoney funds are hypothetical, not cash in a live brokerage account. Schwab says simulated trading can differ from real trading, and simulated performance does not ensure success in a live account. See Schwab’s paperMoney practice-trading overview and paper-trading explanation. Schwab International describes paperMoney as providing US$100,000 of virtual buying power; the page’s publication date is not stated, and the figure is a product description that may change.
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Platform limitation
These menu names and steps are shown in Schwab’s desktop walkthroughs. Do not assume that thinkorswim web or mobile uses the same labels or flow; check the controls in the interface you are using.
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- Issued in 1963 by Whitman Publishing
- For 2 to 8 players
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