Setting the symphony status
In this article, you’ll learn how to set the trading status of a symphony and about the differences between Testing and Paper Trading.
Where can you set the trading status of a symphony?
You can set the status of a symphony in the symphony details panel of the symphony editor.
You can also set the status from your symphony library.
What is the difference between testing and paper trading?
A symphony set to Testing can be backtested in Composer. It will not be deployed in your brokerage account. Setting symphonies to Testing allows you to research and test out symphony ideas in a sandbox environment without connecting to a brokerage account. There is no limit to how many symphonies you can set to Testing.
Setting a symphony to Paper Trading allows you to simulate trading your symphony in a connected paper trading account and to track its day-to-day performance over time. Paper trading does not risk real money. You set an amount of money to model trades in your paper trading account, and the assets making up your symphony will be bought and sold according to the specifications of the symphony at the trading frequency you specified (i.e., daily, weekly, etc.).
To use paper trading, follow the directions to connect your brokerage to Alpaca and select the Paper Trading status for the symphony.
Currently, you can set a maximum of one symphony to Paper Trading at a time. If you have a symphony set to Paper Trading and then set a different symphony to Paper Trading, the symphony previously set to Paper Trading will be moved to Testing.