Automated theorem provers have traditionally relied on manually tuned heuristics to guide how they perform proof search. Deep reinforcement learning has been proposed as a way to obviate the need for such heuristics, however, its deployment in automated theorem proving remains a challenge. We introduce TRAIL, a system that applies deep reinforcement learning to saturation-based theorem proving. TRAIL leverages (a) a novel neural representation of the state of a theorem prover and (b) a novel characterization of the inference selection process in terms of an attention-based action policy. We show through systematic analysis that these mechanisms allow TRAIL to significantly outperform previous reinforcement-learning-based theorem provers on two benchmark datasets for first-order logic automated theorem proving (proving around15% more theorems).