Paper trading helps us improve our outcome in the long run

And say you don't know if you use these indicators to buy and sell stock or not? Why not test it out for a few months using paper trading and see for yourself?
As you buy and sell, as you earn and loss fake money, you can analyse and learn when you should or should not use it. Thus when you use real money next time, it should help improve your odds a little
Some of my tested hypothesis
I do use paper portfolio myself to test out some hypothesis that I have.
All in on Tesla hoping for super short term extraordinary gain
Well the first portfolio that I create was mainly for a competition held by moo moo in June. The competition is to create the winning portfolio and at the end of June, the most profitable portfolio will win.
My hypothesis was that with safer stock that doesn't have extremely high volatility, it won't create extraordinary gains. So to win, it is to go big or go home .
Thus I choose to go 100% into $Tesla (TSLA.US)$ as it has very high volatility and a highest chance for external events to happen that could pump the stock up. I know many are anticipating Elon might announce a stock split so I just pray that he will tweet a stock split in June so that I can win
With that in a bear market, this portfolio manage to get a 14.28% gain. I did check and screenshot all other competitors portfolio and my portfolio won, but the result is not announced yet I think. The result is not out yet right @Meta Moo ?

Let me buy over and shut it down
The next hypothesis I wanted to test was to buy stocks with price that made absolutely no sense. The price is so low that if I were to buy 100% of the shares, the forcefully shut the whole company down, sell its asset at a discount. I will still earn tons of money.
And the first target I found was $DiDi Global Inc (DIDIY.US)$.  When DiDi was trading at $1.40, the PB ratio was 0.4. Just with the amount of cash it had, even after paying all its liabilities, it is more than $1.40. If I have the money? I will buy every single share and shut the whole company down and profit from it man. So this is the hostile takeover portfolio.
DiDi reached manage to hit a high of $3.80 after a while. But why is my returns only 10% instead of 200+%? Because I chickened out. Delisting fear taken over, and I sold at a small profit and missed out on the big one. So this is a painful but valuable lesson for me

Trying to trade at the stock trading band
The next portfolio I created is mainly to test if it is profitable to do swing trading. I realised that $Grab Holdings (GRAB.US)$ have been moving between $2.50 and $3.00. So this portfolio is for me to buy when GRAB is around $2.50 and sell when it is around $3.00. So far so good
I intent to keep testing it out and use it to better my skill at swing trading before doing it for real. I'm sure there are many things that I don't know yet, so hope to uncover more and learn more along the way

If you are here, why aren't you supporting Moo Moo?
The last paper portfolio I have is just to all in and support Moo Moo, $Futu Holdings Ltd (FUTU.US)$. I mean I love it here, so why not right? hahahahaha