> For the complete documentation index, see [llms.txt](https://guida-2.gitbook.io/guida-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://guida-2.gitbook.io/guida-docs/features/paper-trading.md).

# Paper Trading

Paper trading lets you run a strategy on **live market prices** with **simulated funds** — a full dress rehearsal with zero financial risk. It's the second half of Guida's testing workflow and the centerpiece of the early-access experience.

*(For the reasoning behind paper trading, see the* [*Paper Trading concept*](/guida-docs/core-concepts/paper-trading.md)*. This page covers the feature.)*

## What it does

Activate paper trading on any strategy and Guida runs it forward in real time against live markets. It books simulated buys and sells exactly as it would with real money — same triggers, same timing, same behavior — and tracks the hypothetical results.

## What you can watch

* **Live positions** — what the strategy is "holding" right now.
* **Simulated P\&L** — running profit and loss on live prices.
* **Action log** — every trigger and trade, timestamped, so you can verify the strategy behaves as designed.

## Why it's powerful

* **Zero risk, full realism.** Everything is real except the money. It's the safest possible way to learn how a strategy — and Guida itself — actually behaves.
* **Forward-looking proof.** Backtests look at the past; paper trading tests your strategy against the market as it unfolds *now*.
* **The graduation path.** Strategies you build and validate on paper are ready to promote when live trading arrives in a later release.

## Getting the most from it

* **Give it real time.** Let a strategy run through a meaningful stretch of live conditions — including some volatility — before drawing conclusions.
* **Cross-check against the backtest.** Live results roughly matching the backtest is a healthy sign. Big gaps are worth investigating.
* **Judge behavior, not just P\&L.** Correct triggers, correct sizing, and clean exits matter more than a single profit figure over a short window.

## Early access is paper-first

Guida launches paper-trading first on purpose. It lets you master the entire loop — build, test, deploy, monitor — on live markets without risking a cent, so that when live trading arrives you're already fluent and your strategies are already proven.

> A flight simulator for your portfolio: real instruments, real conditions, real practice — no crash risk.

***

**Related:** [Paper Trading concept](/guida-docs/core-concepts/paper-trading.md) · [Backtesting Engine](/guida-docs/features/backtesting-engine.md) · [Going Live](/guida-docs/getting-started/going-live.md)


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