On page 195 and 196 of you'll find the signal flow of Reaper described graphically. Go grab the PDF if you haven't already. There are actually two volume faders. One that you use in the Read/Trim mode, and which is called "Track Volume Fader" in the signal flow diagram, and the fader that appears when you use the Read, Latch, Touch and Write automation modes. It is important to know what these two faders do. Only one of them shows up at a time, depending on the automation mode you're in. The Read/Trim fader is static and cannot be automated, which is why some folks refer to it as a trim pot, like those found in consoles right at the top of a channel strip, except this one sits at the end of the channel strip. The volume automation is recorded and visually played back with the Read, Latch, Touch and Write fader. The signal flow diagram will tell you exactly where it all sits.