How should you paper trade a Hyperliquid HIP-4 idea?

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Learn how to paper trade a Hyperliquid HIP-4 idea so you can test the contract logic, timing, and execution assumptions before going live. Why paper trading matters more than people think: HIP-4 ideas often look cleaner in hindsight than they feel in real time. Paper trading helps you see whether the market definition, timing, and liquidity conditions still make sense when you are not benefiting from a perfect replay chart. What to log every time: A useful paper-trade record stores enough detail to replay the decision honestly later. What you are really grading: The point is not just whether the outcome resolved your way. The point is whether the contract you chose, the timing you used, and the book you faced behaved the way your process assumed they would. When to promote an idea to live risk: Promote only after the paper log shows repeated discipline: correct contract framing, realistic entries, survivable exits, and a thesis that still makes sense when the market is messy instead of idealized.