What's the difference between paper and live mode?

Should I start on paper? What changes when I flip to live?

Always start on paper — it uses a simulated Alpaca account with fake money so you can watch the engine and your settings safely. Live mode uses your funded Alpaca account and places real orders. Same strategies, same risk controls; only the account differs. Toggle it from the PAPER/LIVE switch on the dashboard.

Paper for at least a couple weeks saved me from a few dumb settings. +1 to this.