Paper trading a strategy
With OctoBot, you can use paper trading with any strategy.
Paper trading is enabling you to test trading strategies in live conditions using a virtual portfolio.
It is perfect to experiment with a trading strategy without taking any risk as it is only using simulated funds.
- From the strategy you want to paper trade, hit Start trading
- Select Paper trading
- Select the amount you want to use in your simulated portfolio
No exchange account is required to use paper trading on OctoBot cloud.
Your paper trading OctoBot will now apply the selected strategy as if it were on a real exchange account except that it won't actually connect to any exchange account. OctoBot could uses the OctoBot built in trading simulator to simulate a real exchange account.
As with real trading OctoBots, you can follow your paper trading bot just as usual.
Using OctoBot cloud, you can have your paper trading OctoBot run for as long as you wish.
The only requirement is to click on Extend once a week when your OctoBot arrives close to its expiry time. This notifies OctoBot cloud that it should keep your paper trading OctoBot running.
Yes ! In fact, we even encourage you to use paper trading to experiment with strategies on OctoBot cloud, even after you found the ones to trade with using your real funds.
This allows you quickly test new strategies and optimize your gains by always using the strategies you prefer at any time.