Guide
Paper trade a TradingView strategy for free
Nyria Paper is a simulated broker built into Nyria. Point a TradingView alert at it and watch every order the strategy would place, with no broker connected and no real money.
Set up a paper bot
- 1Create a Nyria account. Paper trading is free on every plan and needs no card.
- 2Select Integrations in the left sidebar, then the Nyria Paper card, then Create Nyria Paper account.
- 3Create a strategy with TradingView as the alert source, and copy its webhook URL and message from the Integration tab.
- 4In TradingView, create the alert, paste the message, select Webhook URL in Notifications and paste the URL.
- 5On the strategy, select Deploy bot, switch to Paper, set the Budget per entry and select Deploy on Nyria Paper.
- 6Let the alerts fire. Each order shows on the bot's Logs tab next to the alert that caused it.
The alert, the webhook URL and the message are covered in full in automate TradingView alerts.
How a paper fill is simulated
Fills are priced from live market data, not from a backtest.
Market orders
Fill at the ask to buy and the bid to sell, from the quote Nyria read when the alert arrived. A spread fills at its natural price. A market order never slips.
Limit orders
Filled or refused at once against that quote. A limit never rests on a book, and a refusal is written to the bot log with the reason.
Timing
Fills are immediate. Nothing queues and nothing partially fills. Stocks and crypto fill at any hour, weekends included. Options alerts are refused while the options market is closed.
Sizing is checked on paper too
A rejected entry in the bot log
One SPY contract costs $1,200.00, more than this bot's $1,000.00 budget per entry. Raise it to at least $1,200.00.
A budget per entry too small for one unit is caught on paper, the same way a live broker would reject it.
What paper does not show
- Slippage. A market order pays the quoted spread and nothing more, so paper P&L usually reads better than live.
- Partial fills and queue position. A live limit order can fill in part, or not at all.
- Broker rejections, such as option approval level, margin or an unsupported order type.
- Halts, gaps and thin liquidity.
- Assignment. An option held to expiry settles in cash at its intrinsic value.
When you go live
Run the strategy on paper for one to two weeks first. Then deploy a bot on your broker account next to the paper bot, or edit the paper bot and pick the account. The same alert reaches both, each in its own size. Live trading is at Charles Schwab, Tradier, tastytrade and Alpaca.
Questions
- Is paper trading on Nyria really free?
- Yes. It has no time limit and needs no card. Without a plan you can run up to 10 paper bots, on Nyria Paper or on a broker's own paper account.
- Do I need a broker account to paper trade?
- No. Nyria Paper is the simulated broker built into Nyria. Nothing reaches a real broker or exchange and no money moves.
- Do I need a paid TradingView plan?
- Yes, for the alert to reach Nyria. TradingView sends webhooks on its paid plans only, with two-factor sign-in turned on.
- What can a paper bot trade?
- Stocks, options including spreads of up to 4 legs, crypto spot and crypto perpetuals.
- Which brokers have their own paper account?
- Tradier connects its sandbox and Alpaca connects its paper account, both through the broker's own API. Charles Schwab and tastytrade have none, so test those strategies on Nyria Paper.
- Do paper results show the strategy will make money?
- No. Paper shows that the alert reaches Nyria, that Nyria reads it the way you meant and that every exit closes its entry. It does not show what a live account would earn.
Paper trade your first alert
Trade and test free on paper, forever. No card required.