When should I create a Backtest / Batchtest / Paper Trade?

you can use backtests/batchtests to develop and test variations of your strategy we recommend trying out different inputs for indicators (where applicable), different leverages, multiple take profits/stop losses, etc when a strategy is running in paper trading mode, it simulates trading like it would in live trading except no orders get placed on the exchange tuned computes metrics and shows the user performance on live data under the assumption that all trades get executed and thus giving users the ability to measure the performance of the strategy without making any investment