Before we practice, let's answer one question that matters more than the size of any number on this screen: which workspace are we using? TraderLobby has Paper and Live. Paper is the place for simulated trading. Live is the workspace connected to supported real exchange activity. Knowing which one you are viewing is the first habit we will build.

On the desktop layout, look near the top of the app for the two choices labeled Paper and Live. Read the words and look for the selected choice. On the mobile layout, the header also has Paper and Live controls. The screen is arranged differently, so use the labels to find your place instead of memorizing a spot on a large monitor.

For this lesson, choose Paper and let the screen finish updating. Check the label again, then look at the account information and any message the app shows. If the change fails, the information looks inconsistent, or an access message appears, stop before submitting anything. A button changing appearance is not enough to settle an unclear account state.

You may also see a connection indicator, a provider label, or information that continues moving. Those details have different jobs. A connection indicator describes communication with the app. A provider label helps identify the source or account context. Neither replaces the Paper and Live selection. A connected screen can still be a practice screen.

Now separate the workspace from a strategy. A strategy is a set of trading rules that can be enabled for a particular context. Selecting Paper tells the app which workspace you want to view. It does not mean every strategy has been switched off. These are separate controls, and reading one does not answer the question asked by the other.

This matters especially if you have already used Live. Moving into Paper does not pause enabled Live strategies or their position watchers. The desktop can show a notice explaining that Live automation is still running. Closing that notice with Got it only dismisses the message. It does not send an instruction to stop trading.

If you already have Live activity, understand and supervise it through its Live controls before treating this as a quiet practice session. Do not use the lesson as a shortcut for shutting that activity down. We will explain the stopping boundaries later. A new user who has never enabled Live activity can begin by identifying the Paper workspace and checking its information.

Take a moment to say what you know: I can find the mode control. I have checked that my exercise is in Paper. I understand that a selected workspace and an enabled strategy are different things. That short explanation is more useful than clicking quickly. It gives every action that follows a clear starting point.