> ## Documentation Index
> Fetch the complete documentation index at: https://docs.driven.ai/llms.txt
> Use this file to discover all available pages before exploring further.

# Place a Paper Trade

> How to place a simulated trade in Driven using natural language, see the portfolio impact before it executes, and manage orders including limit orders and cancellations.

This guide covers placing paper trades, simulated trades with real market data and virtual money. Paper trading lets you test ideas and practice without risking capital, and in Driven you place trades by describing them in plain language rather than filling out an order ticket.

The concept behind this is [Portfolio and Paper Trading](/concepts/portfolio-and-paper-trading).

## When to use this

* Testing a strategy before committing real money
* Tracking a research idea to see how it ages
* Practicing order workflows
* Comparing how different strategies perform

## Step 1: Describe the trade

Tell the Agent what you want in plain language:

```text theme={null}
Put 10% of available cash into NVDA in my paper account.
```

Or specify a dollar amount:

```text theme={null}
Buy $5,000 of [TICKER] in my paper account after showing portfolio impact and risks.
```

## Step 2: Review the impact before it executes

A good habit is asking for the consequences before the trade goes through. The Agent can show how the trade changes your portfolio:

```text theme={null}
Before executing, show me how this trade affects my portfolio concentration and risk.
```

This turns a trade into a decision rather than a reflex.

## Step 3: Use limit orders when you want a price

You are not limited to market orders. Set a price:

```text theme={null}
Place a limit order to buy [TICKER] at [price] in my paper account.
```

## Step 4: Manage open orders

Limit orders are fully managed by the Agent. It can see order IDs and cancel a pending order directly by ticker, so you do not need to go into the UI to clean up:

```text theme={null}
Cancel my open limit order on [TICKER].
```

```text theme={null}
Show me all my open paper orders and their status.
```

## Adjusting positions

Trimming and adding work the same way:

```text theme={null}
Cut my AAPL paper position in half and explain the impact on portfolio concentration.
```

```text theme={null}
Add to my [TICKER] position to bring it up to a 5% weight.
```

## Common mistakes

* **Trading without checking impact.** Always look at how a trade changes concentration and risk before executing.
* **Forgetting it is a test.** Paper trading is for learning. Use it to validate a process, then decide about real capital separately.
* **Ignoring coverage limits.** Paper trading coverage can be narrower than research coverage. Confirm the market is supported before building a workflow around it.

## Current limitation

Paper trading coverage may differ from research coverage. Check [supported markets](/reference/supported-markets) before relying on a trading workflow in a given market.

## Related

* [Portfolio and Paper Trading concept](/concepts/portfolio-and-paper-trading) — how it works
* [Build a portfolio](/guides/portfolio/build-a-portfolio) — construct a portfolio from scratch
* [Portfolio health check](/guides/portfolio/portfolio-health-check) — review what you've built
* [Paper trading prompts](/prompts/paper-trading-prompts) — more templates