Nyria Paper

Nyria Paper is a simulated broker built into Nyria. Watch a strategy trade its alerts here before you connect a real brokerage account. The second half of this page says how the simulator prices each fill.

What it trades

Stocks, options (including spreads of up to 4 legs), crypto spot and crypto perpetuals.

Account types

Paper only. You don't need a plan to run a bot on Nyria Paper, and deploying one doesn't ask you to accept the risk disclosure.

Connecting Nyria Paper

The same account can be created from the Start with paper trading card on an empty Integrations page, or from the deploy wizard's Account step with Paper on.

How fills are simulated

• A market order fills at the ask to buy and the bid to sell, and a spread at its natural price, from the quote Nyria read when the alert arrived. It never slips.
• A limit order is filled or refused at once against the quote. It never rests on a book. The edge cases below give the exact prices.
• Fills are immediate. Nothing queues, nothing partially fills, and no broker is called.
• Stocks and crypto fill at any hour, weekends included. Options alerts are refused while the options market is closed.
• An option held to expiry is settled. After the expiration date, the simulator closes the position at the contract's intrinsic value from the underlying's official close that day: a call at the close less the strike, a put at the strike less the close, and $0 if it finished out of the money. The exit shows in the bot's trades as Expiry settlement (simulated), and it is not a fill. It settles in cash, so no shares are delivered. A settlement is written only once two market-data sources agree on that close, so it can come days after the expiration date. Until it does, the position counts at $0. Cash-settled index options other than SPX (NDX, RUT, XSP, VIX and similar) and third-Friday SPX options are not settled this way, and count at $0.

Edge cases

• A quote with no price on one side. A market order fills at the price on the order.
• Limit prices. A limit is checked against the quote Nyria priced it from. A buy limit at or above the ask fills at the ask, and a sell limit at or below the bid fills at the bid.
• A limit entry fills only then. An entry limit the market has not reached is not filled, and neither is one that arrived with no quote to check it against.
• A limit exit also fills at its own price when it sits inside the bid-ask spread. When the quote has a price on one side only, an exit limit within 0.5% of that price fills at its own price. An exit that came with no quote fills at the price on the order.
• A spread limit fills at the legs' combined market price (the ask of each leg bought and the bid of each leg sold) when its limit covers that price. A spread exit also fills at its own limit when the limit sits between that price and the legs' combined mid.
• Any other limit is not filled. Nothing is recorded as filled, and the bot log gives the reason with the limit and the market price it was checked against. A limit is also refused when the quote has no price on the side it would fill against.
• Force market orders sends a limit alert as a market order. On Nyria Paper that order fills at the ask to buy and the bid to sell. If the quote has no price on that side, it fills at the price on the order.
• Orders can still be rejected. The simulator enforces your sizing. An entry whose budget can't cover one contract is rejected with a reason like 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., shown in the bot log like a live broker rejection.

Crypto perpetuals

A Nyria Paper bot opens each perpetual position at the size of its budget. At 5x, a $100 budget opens about $100 of the coin. Funding rates and liquidation are not simulated.

The strategy's record is stated at its leverage: each trade's price move times the leverage, with a loss capped at -100% of the entry. That shows on the strategy page, its cards and Discord trade posts. Discover shows it unleveraged.

Limits

• 10 paper bots in total without a plan, across all your paper accounts. Paper bots on Nyria Paper and on a broker's own paper account count toward the same 10
• One bot per strategy per account, the same rule as every other broker

See pricing and limits for what each plan includes.

Limitations

• Simulated only. There is no live Nyria Paper account
• Order state is not synced from a broker, because there isn't one. What the simulator records is the whole record
• No funding rates, liquidation, assignment, corporate actions, or margin modelling
• No slippage. A market order pays the quoted bid-ask spread and nothing more, however thin the market, so paper P&L usually reads better than live P&L on the same alerts

Troubleshooting

"You've reached your paper bot limit"

Delete a paper bot from its detail page, or deploy on a live account instead. The cap counts bots, not strategies, and includes paper bots on every broker.

The bot log says one unit costs more than the budget

The line reads like One SPY contract costs $1,200.00, more than this bot's $1,000.00 budget per entry. The bot's budget per entry is below the cost of one unit (a contract, a share or a spread). Raise the budget above the price shown.

Nothing appears in the bot log at all

Either the alert never reached the strategy, or the strategy filtered it out before it reached the bot. Check the strategy's Logs tab first, then see when an order fails.

Next steps

• Your first strategy: the end-to-end walkthrough that starts here
• Paper trading: what simulated results do and do not prove
• Deploy a bot