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PAPER_TRADING_SETUP.md

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Paper Trading Setup Documentation

Overview

The ELVIS trading bot supports paper trading mode with multi-asset balances. In paper trading mode, the bot starts with $1000 USDT and $1000 BNB for a total portfolio value of $2000.

Initial Balances

  • USDT: $1,000.00 (for general cryptocurrency trading)
  • BNB: $1,000.00 (for Binance ecosystem trading and fee optimization)
  • Total Portfolio: $2,000.00

Configuration

Environment Variables

TRADING_MODE=paper  # Enable paper trading mode

Database Configuration

The paper trading system uses PostgreSQL to track:

  • Account balances for multiple assets
  • Trade history
  • Open positions
  • Performance metrics

Scripts

Reset Paper Trading

python reset_paper_trading.py

This script:

  • Clears all trade history
  • Clears all open positions
  • Resets USDT balance to $1000
  • Resets BNB balance to $1000
  • Initializes database structure

Check Current Balances

python check_paper_balances.py

This script displays:

  • Current balance for each asset
  • Total portfolio value
  • Trading status

Features

Multi-Asset Support

  • Trade multiple cryptocurrency pairs simultaneously
  • Track individual asset balances
  • Support for USDT and BNB trading pairs

BNB Fee Optimization

  • Use BNB to pay trading fees for discounts
  • Automatic BNB balance management
  • Fee optimization for better profitability

Performance Tracking

  • Real-time P&L calculation
  • Trade history and statistics
  • Portfolio performance metrics

Trading Pairs

Primary Pairs

  • BTCUSDT (Bitcoin trading)
  • BNBUSDT (BNB trading)

Secondary Pairs

  • ETHUSDT (Ethereum trading)
  • Other major cryptocurrencies

Benefits of Starting with BNB

  1. Fee Discounts: BNB provides trading fee discounts on Binance
  2. Diversification: Start with exposure to both USDT and BNB
  3. Ecosystem Benefits: Access to Binance ecosystem features
  4. Fee Optimization: Automatic use of BNB for fee payments

Usage

  1. Initialize Paper Trading:

    python reset_paper_trading.py

  2. Check Status:

    python check_paper_balances.py

  3. Start Trading:

    # Set environment to paper mode
export TRADING_MODE=paper

# Start the bot
python main.py

Database Schema

Account Balances Table

CREATE TABLE np.account_balances (
    id SERIAL PRIMARY KEY,
    asset TEXT UNIQUE NOT NULL,
    balance REAL NOT NULL DEFAULT 0,
    last_updated TIMESTAMP DEFAULT NOW()
);

Initial Data

INSERT INTO np.account_balances (asset, balance) VALUES 
('USDT', 1000.0),
('BNB', 1000.0);

Monitoring

The paper trading system provides real-time monitoring of:

  • Current balances
  • Open positions
  • Trade performance
  • Fee costs
  • Portfolio growth

Reset Instructions

To start fresh paper trading:

  1. Stop the trading bot if running
  2. Run the reset script: python reset_paper_trading.py
  3. Verify balances: python check_paper_balances.py
  4. Restart the trading bot in paper mode

Notes

  • Paper trading uses simulated trades, no real money is involved
  • All trading logic is identical to live trading
  • Performance metrics accurately reflect trading strategy effectiveness
  • Database persistence ensures trade history survives restarts