First Paper Strategy
Published Jul 9, 2026 · Updated Sep 7, 2026
Internal AlphaFox Paper trading runs strategies with virtual funds on real market data; no real trading capital is used. Model and slippage assumptions, along with configuration, affect results. Moving to live trading can cause losses.
You can use parameters from a saved backtest version or configure a supported template. Check the account type and billing preview when creating it.
For a historical check first, follow Your First Strategy Backtest. See Core Concepts for Paper, backtest, and live terminology.
Before you start
Make sure you are signed in. The creation preview explains charges based on your current plan and available allowance. Virtual trading funds do not mean the running service is always free.
Prepare an Internal Paper Account
Open Trading accounts
Open Trading accounts, select Add new exchange, and choose Paper exchange.
Enter the details and save
Enter a name and a positive starting balance, then select Save config. Internal Paper needs no exchange API key.
To compare with a backtest, set the relevant simulated starting funds here and record the amount. Backtest initial equity does not automatically change this account’s balance.
Have a Saved Backtest? Create with Its Parameters
- Return to the experiment in Strategy backtest and select the intended version under Saved backtest parameters.
- Choose Use this version’s parameters, confirm, and check the current configuration. Viewing a historical result does not apply it.
- Select Create strategy from parameters, choose the Paper account you prepared, and check the billing preview.
- Select Create and start. This dialog creates the strategy and requests its start; it does not open the four-step template form below. Open the details to confirm runtime status.
The dialog also supports live accounts, so confirm that Paper is selected before submitting. See Backtest Settings and Reproducibility for input snapshots and save status.
Starting from a Template? Configure It First
Open New strategy
Open New Strategy in the Classic builder to enter the four-step form.
Pick a strategy
Choose an available template whose behavior you understand. Read the card description before filling in its supported symbols and settings.
Configure and set risk
- Name: something you will recognize.
- Connection: the paper exchange you just created.
- Parameters and risk: check the meaning and exposure of defaults before using them. If you came from a backtest, keep the tested configuration instead of resetting it to defaults.
Notifications (skippable)
Pick events to push (fills, SL/TP…). No channel configured yet? Skip—you can add it later.
Check billing, create
The bottom of the page shows included allowance or hourly billing. Confirm and select Create strategy; the system requests an automatic start for the new instance.
Paper Trading uses real Binance futures prices and rules; only the money is virtual. It is a simulation, so fills can differ because of model and slippage assumptions.
What to watch after creating
On the strategy detail page, in order:
- Runtime status: confirm that it reaches Running. If startup fails, read the error and events, then follow Strategy Won’t Start.
- Return curve: ROI, PnL, max drawdown.
- Positions and orders: what it actually did.
- Events: the full action timeline.
For comparison, record the backtest version, Paper account funds, actual start time, and later changes. Paper uses subsequent market data; it does not replay the backtest date range.
Closing the page does not stop a running strategy. To finish, select Stop, choose how to handle positions in the dialog, and confirm the resulting status. Record the original configuration before changing parameters so you can explain later results.