Trading Modes
Progress from Paper to Testnet to Real — a deliberate path that proves a strategy before any real capital is at risk.
Three modes, one recommended path
Aegis has three trading modes. The recommended progression is PAPER → TESTNET → REAL. Each step raises the stakes only after the previous one has earned your confidence.
PAPER
A fully simulated account seeded with $10,000. Orders fill against live market data but no real money and no exchange are involved. Use Paper to validate a strategy's behavior, its risk limits, and your own comfort with the automation — all with zero risk.
TESTNET
Trading against the exchange's testnet. This exercises the real order-placement path — API keys, order types, fills, cancellations — using the exchange's test environment instead of real funds. Testnet catches integration issues that a pure simulation cannot.
REAL
Live trading with real funds on the exchange. REAL is a deliberate, deploy-time decision — not a public toggle you can flip casually. Move here only after Paper and Testnet have confirmed the strategy behaves as you expect.
Recommended progression
| Mode | Funds | Exchange | Purpose |
|---|---|---|---|
| PAPER | Simulated $10,000 | None (simulated) | Validate strategy and risk limits |
| TESTNET | Test funds | Exchange testnet | Verify the real order path |
| REAL | Real funds | Live exchange | Trade for real, once proven |
Throughout every mode the same guardrails apply: per-symbol and portfolio limits, atomic reservations, and a kill switch. Automation always starts disabled, and enabling it requires a step-up signature — see Your first strategy.