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Your First Paper Trade

Watch and follow along as we walk through placing your first simulated futures trade using the MakeMoneyMarkets NQ algorithm on TradingView.

15-minute video tutorial

Video Walkthrough

Full tutorial covers account setup, chart configuration, signal reading, and trade execution.

What You'll Learn

Five chapters, each building on the last. Follow along at your own pace.

1
Chapter 1

Open a Paper Trading Account

Set up TradingView's built-in paper trading mode. No real money, no broker needed — just a free TradingView account. We'll configure the simulated balance and commission settings to match real-world conditions.

3 minutes
2
Chapter 2

Set Up Your NQ Chart

Open an MNQ (Micro Nasdaq) chart, set the timeframe to 2-minute for scalping or 15-minute for swing entries, and configure your chart layout for clean signal reading.

2 minutes
3
Chapter 3

Add the Algorithm Indicator

Search for the MakeMoneyMarkets NQ algorithm in TradingView's indicator library. Add it to your chart and configure the default settings. We'll explain what each signal overlay means.

3 minutes
4
Chapter 4

Read Signals & Place Your Trade

Walk through a live example: identify a buy/sell signal, set your entry price, place a stop-loss, and execute the paper trade. We'll cover the 5-contract scale-out approach for profit targets.

5 minutes
5
Chapter 5

Review Your Results

Check your paper trading P&L, review the trade in your TradingView history, and learn how to track performance over time. We'll show you how to use the Live Dashboard to compare against the algorithm's track record.

2 minutes

Common Mistakes to Avoid

New traders make these mistakes often. Read these before your first trade.

Don't Use Real Money Yet
Paper trade for at least 2 weeks before risking real capital. This lets you learn the signals, build confidence, and verify the algorithm works for your schedule — all with zero financial risk.
Start with MNQ, Not NQ
Micro contracts (MNQ) are 1/10th the size of full NQ contracts. A single NQ point = $20; MNQ = $2. Start small to limit risk while you learn. Scale up only after consistent results.
Always Set a Stop-Loss
Never enter a trade without a predetermined exit point for losses. The algorithm provides suggested stop levels — use them. A single runaway loss can wipe out weeks of gains.
Don't Override the Signals
The algorithm is systematic for a reason. Resist the urge to second-guess signals based on gut feeling. Follow the rules exactly during your paper trading period to get clean performance data.
Pro Tip: Keep a Trade Journal
Write down every trade — entry, exit, reason, and how you felt. After 2 weeks of paper trading, review your journal to identify patterns in your behavior. This is the single most effective way to improve as a trader.

Frequently Asked Questions

No. TradingView's free tier includes paper trading. However, a Pro subscription gives you real-time data (free tier has a 15-minute delay on some exchanges) and access to more indicators simultaneously. For paper trading practice, free is fine to start.
Paper trading simulates fills at the market price, but it doesn't account for slippage (the difference between expected and actual fill price) or partial fills. Real-world results will differ slightly. That said, paper trading is the best way to learn the mechanics before using real money.
The highest-volume period for NQ/MNQ is 9:30 AM – 11:30 AM ET (US market open). This is when the algorithm generates the most signals and when spreads are tightest. Avoid trading during low-volume periods (lunch hour, after 3 PM) when you're starting out.
Minimum 2 weeks, ideally 4–6 weeks. You want at least 30–50 paper trades to have a statistically meaningful sample. If you're profitable and consistent after that period, you can consider switching to live trading with micro contracts (MNQ).
Absolutely. The step-by-step chapter guide above covers everything in the video. You can also visit our Get Started guide for the full written walkthrough with screenshots and detailed instructions.

What's Next?

After your first paper trade, keep building your skills.

Full Setup Guide
Complete written guide covering broker selection, account funding, and advanced chart configuration.
Explore Algorithms
Browse all available NQ and ES algorithms on TradingView, including the latest v4.2 releases.
Live Dashboard
See real-time algorithm performance and compare your paper trading results against the live track record.
Read the Full Guide View Algorithms on TradingView
RISK DISCLOSURE: Futures trading carries substantial risk of loss and is not suitable for all investors. You can lose more than your initial investment. Only risk capital you can afford to lose. All backtested results shown are from historical simulation—not live trading results unless explicitly labeled. Past performance does not guarantee future results. MakeMoneyMarkets is not a registered investment advisor or broker. You are responsible for all trading decisions. Consult a financial advisor if unsure. The algorithms are provided for educational purposes only. MakeMoneyMarkets is an educational platform, not a registered investment advisor. We do not provide investment advice. Past backtested performance does not guarantee future results. All trading decisions are your responsibility.