Coat the brisket generously with salt, pepper and paprika. Place water pan underneath grill. Place brisket fat side up on grill in smoker set for 225-250 degrees. Smoke for 8-10 hours. The idea is slow heat without billowing smoke. Your traeger will do it right if you set the temp and use cherry, oak, apple or mesquite. For the last couple hours of smoking, wrap the brisket in the butcher paper to retain moisture. You can substitute heavy duty foil if you like.
Allow to rest for 5-6 minutes after removing from the smoker, then slice against the grain (watch it as the grains converge on a brisket…you’ll need to change your slicing angle about ½ way through) and serve with baked beans and coleslaw.