Before a balance can tell you anything useful, you need to know which workspace it belongs to. Think of the label on a folder. Two folders can contain similar-looking pages while describing completely different things. TraderLobby's account and mode labels help you avoid that kind of mix-up.

First, find Paper or Live. Paper is the practice workspace. Its trading results are simulated. Live refers to the workspace for supported activity involving a connected exchange account. A practice balance is not money waiting to be withdrawn, and a successful practice trade does not prove that a real order would get the same result.

For this tour, read the current mode without changing it. If you are already in Paper, stay there. If you are in Live, you can still complete the lesson by looking at labels and using navigation. You do not need to switch modes or place an order to pass any of these checks.

Next, identify the exchange connection associated with the Live workspace, if one is configured. Look at the provider or account information shown, and use API Connections to inspect the connection details when necessary. If no connection is selected, treat that as missing account context. Do not assume the app has chosen the exchange account you had in mind.

Paper can also show a reference market source or a delay notice. That source tells you where practice market information comes from. It does not turn simulated funds into exchange funds. Read the whole label, including any timing information, rather than stopping after the provider's name.

There is one more important distinction. Selecting a workspace and stopping automation are different actions. Enabled Live strategies can continue running while you view Paper. The app may display a notice explaining this. Moving between sections, closing a panel, or returning to Learn does not mean those strategies have stopped either.

Also, the words Live connected on the update indicator do not mean that Live trading mode is selected. That indicator describes a connection for updates. We will return to it later. For now, use the Paper or Live mode label to identify the workspace, and use the exchange information to identify the account context.

Try saying this in your own words: I am signed in as this TraderLobby user. I am viewing this mode. The exchange connection is this account, or it has not been configured. If you cannot identify one of those pieces, pause before interpreting account figures. Finding the missing context is progress, not a mistake.