Trading Modes
Warren always starts in paper: simulated funds, live market data, and no exchange keys required. Going live is a separate, deliberate step you take only when a strategy has earned it.
After selecting strategies, you choose how you want to interact with Warren. Current trading modes:
- Live Trading
- Paper Trading
- Demo Environment
Paper is always the default, and it needs no exchange account. Every execution path in Warren, both strategy bots and Warren's own book, runs in paper mode first: simulated capital against live market data, zero risk. Going live is never automatic. You connect an exchange with your own keys and explicitly switch a specific bot or position to live, only when you are ready.
Paper trading
Paper trading lets you:
- Simulate execution
- Evaluate strategies
- Monitor performance
- Explore Warren without risking real capital
Paper trading currently uses:
- Live market data
- Simulated capital
- Runtime monitoring
- Real-time strategy behavior
No real funds are used during paper trading, and no API keys are needed to start. This is the honest bridge between a backtest and live capital: the same strategy runs against the same live market you would trade, without a cent at stake.
Live trading
Live trading allows Warren to execute strategies using your connected exchanges. Live trading requires:
- Exchange connection
- API authorization
- Capital allocation
- Strategy activation
You remain fully in control of:
- Exchange permissions
- Allocation boundaries
- Execution limits
- Strategy runtime behavior
Live mode moves real funds, so every entry and exit passes a mandatory pre-trade risk review, the leverage cap, and a confirm-to-approve step: Warren proposes, you approve. Nothing trades live by accident.
Demo environment
The demo environment lets you:
- Explore the platform
- Browse strategies
- Understand workflows
- Navigate Warren without connecting an exchange
Demo is the friction-free path if you want to look around before authenticating an exchange.
Continue
Capital Allocation
Set the pool, pair, and boundaries your strategies trade within.
Exchange Connectivity
Connect a venue with your own keys when you are ready to go live.
Next: Capital Allocation
Strategy Recommendations
Warren surfaces strategies from a vetted preset library ranked by regime fit, lets you build your own in plain English, and versions everything so any result traces back to the exact code that produced it.
Capital Allocation
Configure the exchange, pair, amount, and boundaries Warren trades within, backed by one shared capital pool that keeps your strategy bots and Warren's own book from ever double-spending the same funds.