First Paper Strategy
Published Jul 9, 2026 · Updated Jul 26, 2026
Alphafox paper trading runs automated strategies with virtual funds on real market data—practice risk-free before live. Pair it with backtests in the AI workspace when you want a historical check first. Definitions: Core Concepts .
Create an automated paper strategy in 10 minutes. Virtual funds, zero risk.
Before you start
Make sure you are logged in , ideally with the 3-day Pro trial claimed (5 free paper slots).
Create it
Add the paper exchange
Open Live Management → Trading accounts in the sidebar. Click Add exchange, pick Paper Trading.
Enter a name and an initial balance (say 1000), click Test connection, then Save connection.
Open New strategy
Click New strategy in the sidebar.
Pick a strategy
Five categories: Copy, DCA, Grid, Trend, Others. For a first run, pick a Grid or DCA strategy—each card explains itself.
Configure and set risk
- Name: something you will recognize.
- Connection: the paper exchange you just created.
- Parameters and risk: keep all defaults for the first run.
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 free-slot or hourly billing. Confirm and click Create strategy—it starts automatically.
Paper Trading uses real Binance futures prices and rules; only the money is virtual. Every trade you see matches the real environment.
What to watch after creating
On the strategy detail page, in order:
- Runtime status: should say Running.
- Return curve: ROI, PnL, max drawdown.
- Positions and orders: what it actually did.
- Events: the full action timeline.
Let it run a few days. You can hit Configure to tune parameters, or Stop anytime (keep or close positions).