> ## Documentation Index
> Fetch the complete documentation index at: https://docs-d0.donutbrowser.ai/llms.txt
> Use this file to discover all available pages before exploring further.

# Live vs Paper Mode

> Test a strategy or a signal with $100,000 in virtual funds before you commit real ones. One toggle, two accounts.

D0 keeps two accounts side by side. **Live** trades with the funds you deposited. **Paper** trades with virtual equity and never touches your money.

## Switching

The **Live / Paper** toggle is in the top bar, on every page. The first time you switch, D0 offers the paper account: **Start trading with $100,000 in virtual funds. Test-drive everything D0 can do, with zero real-money risk.** Click **Claim $100,000**.

<Frame caption="Claiming the paper account.">
  <img src="https://mintcdn.com/donut-6b37471f/pEjKTqDiw0xT717N/media/getting-started/live-vs-paper/paper-claim.jpg?fit=max&auto=format&n=pEjKTqDiw0xT717N&q=85&s=d600d6cf5a433285b445ac6f7d793794" alt="The Paper trading modal offering $100,000 in virtual funds" width="1920" height="1080" data-path="media/getting-started/live-vs-paper/paper-claim.jpg" />
</Frame>

While Paper is on, a banner across the top says *Paper trading. Practicing with virtual funds — no real money at risk.* with your paper balance, a **Transfer** link, and **Go live** to switch back. Everything else stays the same: the same chat, the same markets, the same order modal. Only the account behind the order changes.

## What Paper is good for

* **Testing a strategy.** Strategies with a low quality score are best run in Paper first. Every strategy card and signal card has a **Paper Trade** button next to **Execute**. See [Strategy Library](/strategies/strategy-library).
* **Trying a signal** without a fill.
* **Learning the order modal** without paying fees.

## Moving a strategy from Paper to Live

A strategy that ran in Paper does not go live on its own. Switch to **Live**, open the strategy, and go through **Run strategy → Position management** again, with the daily loss cap set for your real balance. See [Run a Strategy: Position Management](/strategies/position-management).

<Info>
  Real-money strategy following requires an explicit deployment step and your confirmation of the consent terms. Paper results are never carried into the live account.
</Info>

## What's next

* [Your First 10 Minutes](/getting-started/dashboard-tour)
* [Strategy Library](/strategies/strategy-library)


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