Core Concepts
Paper vs. Live
Paper mode is not a demo — it is the full platform running against a simulated balance. This page explains exactly what is identical, what differs, and the path from one to the other.
What paper mode is
Every new account starts with a simulated paper account funded with virtual money. Paper mode is designed to mirror the AI engines, decision pipeline, risk controls, position management logic, and decision audit trail used for controlled live trading, while routing orders through simulated execution. Paper orders are filled by a dedicated simulated execution engine using real-time market data.
Identical vs. different
| Aspect | Paper | Live |
|---|---|---|
| AI engines & votes | Identical | Identical |
| Decision pipeline & gates | Identical | Identical |
| Risk controls enforcement | Identical | Identical |
| Market prices | Real, live prices | Real, live prices |
| Order fills | Simulated execution engine | Your exchange’s order book |
| Fees & slippage | Modeled approximately | Real |
| Funds | Virtual balance | Your assets, on your exchange |
| Emotional stakes | None | Real |
Paper results are hypothetical
Simulated fills can't fully reproduce live liquidity, slippage, and fees — and they can't reproduce how it feels to risk real money. Treat paper performance as validation of behaviour, not a forecast of live returns. See the Risk Disclosure.
The paper account
- Balances, positions, fills, and equity history are tracked exactly like a real account.
- End-of-day equity is snapshotted so your Portfolio Performance chart builds real history.
- Every decision lands in your Decision History with the same reasons live mode would produce.
The path to live trading
Live trading is a deliberate, gated step:
- Validation first — run paper long enough to see the AI through different market conditions and to trust your own settings.
- Exchange connection — connect your exchange via API keys from Settings → Exchange. Create keys without withdrawal permission; NeuroTrader needs trade and read access only.
- Non-custodial — your funds never move to NeuroTrader. All assets stay on your exchange account.
- Controlled rollout — live access activates only for approved users after required account, security, exchange, and operational checks, with platform-level safety switches available to operations.
How the app shows the difference
Live mode displays a persistent banner so there is never ambiguity about which mode you are in; paper mode shows a discreet indicator. The active mode also appears in the Pre-Flight Review before every session start.