diff --git a/docs/source/live-trading.rst b/docs/source/live-trading.rst
index a2d8e0a5..a2898d61 100644
--- a/docs/source/live-trading.rst
+++ b/docs/source/live-trading.rst
@@ -4,11 +4,63 @@ This document explains how to get started with live trading.
 
 Supported Exchanges
 ^^^^^^^^^^^^^^^^^^^
-Catalyst can trade against these exchanges:
 
-- Bitfinex, id= ``bitfinex``
-- Bittrex, id= ``bittrex``
-- Poloniex, id= ``poloniex``
+Since version 0.4, Catalyst integrated with `CCXT <https://github.com/ccxt/ccxt>`_,
+a cryptocurrency trading library with support for more than 90 exchanges. The 
+range of CCXT and Catalyst support for each of those exchanges varies greatly. 
+The most supported exchanges are as follows:
+
+The exchanges available for backtesting are fully supported in live mode:
+
+- Bitfinex, id = ``bitfinex``
+- Bittrex, id = ``bittrex``
+- Poloniex, id = ``poloniex``
+
+Additionally, we have successfully tested the following exchanges:
+
+- Binance, id = ``binance``
+- Bitmex, id = ``bitmex``
+- GDAX, id = ``gdax``
+
+As Catalyst is currently in Alpha and in under active development, you are 
+encouraged to throughly test any exchange in *paper trading* mode before trading
+*live* with it.
+
+Paper Trading vs Live Trading modes
+^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
+
+Catalyst currently supports three different modes in which you can execute your
+trading algorithm. The first is backtesting, which is covered extensively in the 
+tutorial, and uses historical data to run your algorithm. There is no 
+interaction with the exchange in backtesting mode, and this is the first mode 
+that you should test any new algorithm.
+
+Once you are confident with the simulations that you have obtained with your
+algorithm in backtesting, you may switch to live trading, where you have two
+different modes:
+* *Paper Trading*: The simulated algorithm runs in real time, and fetches 
+pricing data in real time from the exchange, but the orders never reach the 
+exchange, and are instead kept within Catalyst and simulated. No real currency
+is bought or sold. Think of it as a `backtesting happening in real time`.
+* *Live Trading*: This is the proper live trading mode in which an algorithm
+runs in real time, fetching pricing data from live exchanges and placing orders 
+against the exchange. Real currency is transacted on the exchange driven by the 
+algorithm.
+
+These three modes are controlled by the following variables:
+
++---------------+-------------------------+
+|    Mode       |       Parameters        |
++               +-------+-----------------+
+|               | live  | simulate_orders |
++---------------+-------+-----------------+
+| backtesting   | False | True (default)  |
++---------------+-------+-----------------+
+| paper trading | True  | True            |
++---------------+-------+-----------------+
+| live trading  | True  | False           |
++---------------+-------+-----------------+
+
 
 Authentication
 ^^^^^^^^^^^^^^
@@ -106,20 +158,22 @@ What differs are the arguments provided to the catalyst client or
 
 Here is the breakdown of the new arguments:
 
-- ``live``: Boolean flag which enables live trading.
+- ``live``: Boolean flag which enables live trading. It defaults to ``False``.
 - ``capital_base``: The amount of base_currency assigned to the strategy.
   It has to be lower or equal to the amount of base currency available for
   trading on the exchange. For illustration, order_target_percent(asset, 1)
   will order the capital_base amount specified here of the specified asset.
-- ``exchange_name``: The name of the targeted exchange
-  (supported values: *bitfinex*, *bittrex*).
+- ``exchange_name``: The name of the targeted exchange. See the 
+  `CCXT Supported Exchanges <https://github.com/ccxt/ccxt/wiki/Exchange-Markets>`_ 
+  for the full list.
 - ``algo_namespace``: A arbitrary label assigned to your algorithm for
   data storage purposes.
 - ``base_currency``: The base currency used to calculate the
   statistics of your algorithm. Currently, the base currency of all
   trading pairs of your algorithm must match this value.
 - ``simulate_orders``: Enables the paper trading mode, in which orders are
-  simulated in Catalyst instead of processed on the exchange.
+  simulated in Catalyst instead of processed on the exchange. It defaults to 
+  ``True``.
 
 Here is a complete algorithm for reference:
 `Buy Low and Sell High <https://github.com/enigmampc/catalyst/blob/master/catalyst/examples/buy_low_sell_high_live.py>`_