Paper trading allows you to set up algo, and test the working of your trading system. But it is not a substitute for live trading to check the performance of your strategy.
What is the difference between Live Trading and Paper Trading?
| Case | Paper Trading | Live Trading |
| Subscription | Free | 1500/30 days |
| Integration with Broker API required | NO | YES |
| Broker Change | Not Required | YES |
| Market order with actual price from Bid & Ask | NO | YES |
| Trailing Stoploss | NO | YES |
| Time-based Entry From and Entry To | YES | YES |
| Auto Square-Off | NO | YES |
| Accurate PnL to test strategies | NO | Currently Under Beta Mode |
| BO & CO | NO | YES |
| MAX Profit & MAX Loss | YES | YES |
| Risk Management Settings | YES | YES |
| Signal Rules | YES | YES |
| Telegram Notifications | YES | YES |
- All orders get filled. If you are sending the Price in order, it will be considered as traded price. If 0/null price is sent in Signal, then it will show 0 prices. PnL in trade history also depends on order price; so it may show wrong values. This is the biggest difference in Paper vs Live trading. Because in live trading, the Price/PnL calculations are taken based on actual values given by Broker API. You are advised to use only Limit Orders in paper trading with valid prices in Signal also.
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