Trading modes overview

Nocterm gives you three ways to trade from one cockpit. Paper is a fully simulated account for risk-free practice, prop-sim is that same paper account with enforced drawdown limits - like a prop challenge - and live routes real exchange orders through a connected desktop client. A paper/live toggle sits on each trading panel, so you switch modes without leaving the chart.

Where: Panel toolbar ▸ Paper/Live toggleTier: Live needs Trader

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Screenshot needed

id: trading-trading-modes

The trade panel toolbar with the paper/live toggle and connection dot

suggested 1280x720

Overview

Paper and prop-sim both run against the built-in simulator, so fills, PnL, and brackets all work without touching real money. Prop-sim simply layers risk rules on top of that simulator. Live mode hands your orders to a desktop trader that bridges your exchange account - everything else on screen (charts, order flow, brackets) is identical.

The toggle on each panel decides where an order goes. Paper and prop-sim share one simulated balance; live is wired to your real account.

How to use

1. Pick a mode from the panel toolbar. Most traders start in Paper to learn the cockpit.

2. To practice under pressure, turn on prop-sim limits in Settings ▸ Paper Account - the paper account now closes if you break a drawdown floor.

3. When you are ready for real orders, connect the desktop client and flip a panel to Live. The connection dot shows whether the bridge is online.

   📷

   Screenshot needed

   id: trading-trading-modes-toggle

   Switching a panel between paper and live from the toolbar

   suggested 640x480

The three modes

Mode	Money	Risk rules	Routes to
Paper	Simulated	None	Built-in simulator
Prop-sim	Simulated	Max + daily drawdown enforced	Simulator, latches closed on breach
Live	Real	Your exchange / prop account rules	Connected desktop client

Tip

Prove a strategy in paper, harden it under prop-sim limits, then go live. The cockpit is the same in every mode, so nothing about your workflow changes when the money becomes real.

Caution

Live mode places real orders against a real exchange account. Confirm the connection dot is green and double-check size and side before you submit.

Related

• Paper trading & account setup - the simulated account and how to reset it.
• Prop-sim risk limits - turn paper into a prop challenge.
• Live trading - route real orders through the desktop trader.