A practical checklist for paper trading
Use simulation to rehearse your operating process before connecting execution.
Label every assumption
AlgoIndex paper fills are manual simulations at the price you enter. The position mark is the last assumed fill price, not a current quote. Keep these records distinct from broker positions and do not treat their P&L as a live account valuation.
Set bounds before recording fills
Choose your simulated order-value, exposure, and loss caps in Risk controls. Saving limits pauses paper trading for review. Resume explicitly with a reason; the event is recorded in the audit trail.
Rehearse the stop
The persisted pause switch blocks simulated fills without flattening positions. A reached paper loss ceiling latches the stop for the current IST date. Changing limits does not clear the same-day latch. Practice these controls before relying on any future automation.
Know what simulation leaves out
Manual paper fills do not enforce an account cash balance, margin, partial fills, or broker reconciliation. A real execution runtime needs separate current-price checks, durable order state, uncertainty handling, and explicit live authorization.
Put the process into practice.
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