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Guide

What does paper trading not test before I go live?

Paper trading proves the setup works: the alert arrives, Nyria reads it the way you meant, and the bot places and closes the orders. It does not show how a live broker treats those orders. Nyria Paper fills a market order at the quoted bid or ask with no slippage, and it never partly fills, rejects, halts or assigns an order. Use paper to prove the path, then go live with a budget per entry you can afford to lose in full.

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Official documentation

Prove a setup on paper, then cover what paper cannot show

  1. 1

    Run the whole path on paper

    Send real alerts to a Nyria Paper bot. Check the bot fires, each alert reads the way you meant, and every exit closes the entry it belongs to.

  2. 2

    Check the quantity

    Read the quantity on each paper order. It shows how the budget per entry sizes an order.

  3. 3

    List what paper skips

    Slippage, partial fills, broker rejections, halts, assignment and corporate actions are all outside paper. Decide how you will watch each one live.

  4. 4

    Try the broker's own account

    Alpaca and Tradier run their own simulated accounts. Orders go over the broker's API there, so rejections you would see live can show up.

  5. 5

    Go live small

    Run this bot live starts a new bot on your live account with the paper bot's settings. Confirm a size you can afford to lose in full, and keep the paper bot running beside it.

What Nyria Paper does not simulate

  • Slippage: a market order fills at the quoted bid or ask, so it pays the spread. A live market order can fill past the quote.
  • Partial fills: a live limit order may fill partly or not at all, and a spread can fill on some legs and not others.
  • Broker rejections: option approval level, pattern day trader rules, margin, cash-account settlement and unsupported order types only show up at a real broker.
  • Halts and gaps: nothing stops a simulated fill. A live order can miss a halt, gap through a level or find no bid.

Options and perps

  • Assignment: a short option can be assigned before expiry at a real broker. Nyria Paper settles an option held to expiry in cash, at its intrinsic value from the underlying's official close.
  • Perps: Nyria Paper charges no funding and never liquidates, whatever the leverage.
  • Splits, dividends and symbol changes are broker-side facts that paper does not model.

Before the first live bot

  • Paper trade the strategy for 1 to 2 weeks.
  • If the alerts come from a TradingView script, check it does not repaint.
  • Hold capital for entries and exits. A credit spread exits as a debit.
  • Read the known limitations and the risk disclosure.

Questions

Does a good paper run mean live will behave the same?
No. Paper shows the setup works. Live fills, rejections and assignment can differ.
Is Nyria Paper free?
Yes, on every plan. A bot on a live account needs a Nyria plan.
How long should I paper trade?
Nyria's docs suggest 1 to 2 weeks before the first live bot.
Which brokers have their own paper account?
Alpaca and Tradier do. Charles Schwab and tastytrade have none, so test those setups on Nyria Paper.
What does it cost?
Paper is free. Live trading from $15 a month.
All questions

Next

Guides

Broker sandbox vs paper trading

What Nyria Paper, Tradier's sandbox and Alpaca paper each prove.

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Why is my trading bot not placing orders?

Open the bot's Logs tab. Seven states explain a bot that places nothing.

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How does Nyria Paper fill a limit order?

Decided at once against the quote. It never rests on a book.

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How do I test a TradingView webhook before going live?

Alert tester, Check format, then a Nyria Paper bot. Nothing live is touched.

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How do I move a paper trading bot to live trading?

Go live starts a new live bot with your paper settings. Same webhook URL.

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Try a paper bot first

No card required. Paper is free. Live trading from $15 a month.

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