Bots
A bot binds strategies to assets, timeframes, sizing, and risk. It does not start trading by itself.
Authoring vs running
Bots is the authoring surface. New opens the same editor. Allocation, sizing, risk, and instances stay hidden until exchange and asset type are set. Changing either of those fields after the rest is visible asks for confirmation and resets every setting below. Creating or editing a bot saves modeled configuration only. Start, stop, funding, and Modeled positions live on Execution.
Instances
Each instance assigns a strategy (optionally pinned to a version), a ticker, a timeframe, and a capital allocation weight. Venue identity on the bot is a market-data / Reference price fact, not an exchange login.
Modes later
When you run the bot from Execution you choose paper or API-output mode. Output mode requires a paid plan with Live API outputs entitlement and produces private feed URLs under Connections.