How Trade Micro NASDAQ Futures Using TradingView?
Want to experience a dynamic way to engage in high-frequency trading without a big capital? Try trading micro NASDAQ Futures using TradingView. If you're one of those investors who want to leverage upon the movement of tech giants, you should definitely try out this. 

These contracts help traders speculate on the NASDAQ 100 index with manageable and smaller units. Pairing this strategy with good algorithm trading software will allow you to profit from the market. You will be able to automate the trades based on real-time data and obtain technical analysis and preset strategies.

Trade Micro NASDAQ Futures With TradingView

TradingView is one of the most powerful charting tools available today. The platform's wide range of features enables traders to develop, test, and then integrate trading algorithms to achieve precision. As a result, the tools help minimize human error.

Trading Micro NASDAQ Futures using TradingView is one of the best ways to get maximum exposure with low expenditure. This will play an important role in shaping your digital future as you maximize the revenues.

What are Micro NASDAQ Futures?

Micro NASDAQ Futures or micro e-mini NASDAQ Futures refer to the type of Futures contracts that help traders get maximum exposure to the NASDAQ 100 index but at cost-effective rates. Comparatively, these are small Futures, amounting to 1/10th size, which makes them accessible to almost all traders, even the ones with smaller ones.
Some of the key features of micro NASDAQ Futures that make them an ideal choice for traders include the following:

  • Leverage: These future contracts allow the traders to gain control of large notional value to amplify profits and reduce losses. Therefore, traders can use options strategy builders to enhance their impact. 
  • Small Contract Size: The notional value of micro NASDAQ Futures is quite affordable. Therefore, it brings about the benefits of precise position sizing. 
  • Hedging and Speculation: the micro NASDAQ Futures can be highly beneficial for hedging against market exposure. Therefore, traders can use price movements to analyze when to trade. 
  • Liquidity: The micro NASDAQ Futures have higher liquidity than the NASDAQ 100 index. Therefore, the traders can use one of the leading algo trading software to automate trading and measure their entry and exit positions. 
  • Margin: The margin for micro NASDAQ Futures contracts is comparatively lower than that of NASDAQ 100 index contracts. Thus, the retail traders have better access to it.

How Do You Trade Micro NASDAQ Futures using TradingView?

The symbol of micro NASDAQ Futures is MNQ. So, when logging into TradingView to begin your trading journey, ensure that you do not confuse it to be the same as NQ. 

Below is a stepwise procedure to trade Micro NASDAQ Futures with TradingView, a prominent options strategy builder:

Step 1: Log in to TradingView

Begin by logging into your TradingView account. Sign up on the platform if you do not have a TradingView account. Once done, connect with the broker. The option to choose your broker is available in the Trading Panel option at the bottom of the TradingView page. 

Step 2: Set Up the Charts

Once logged in and selected your broker, you must set up the charts to trade Micro NASDAQ Futures efficiently. Using TradingView, you can check out future contracts across numerous time frames, ranging from one second to 12 months.

While using TradingView, it is advisable to add indicators to the chart. Then, the alerts are set depending on the conditions the indicator meets. However, you can automate the process using an algo trading software so that you can be immediately notified about the changes. 

Placing and Managing Trades

It is advisable to be extra careful while placing and managing trades on TradingView. Consider using custom TradingView Strategy Developers to initiate the process. This will help you establish a proper strategy through which you can achieve success.

Placing Orders

The order panel is available on the right side of the main TradingView screen. You can click on Order Option, select the type and enter the details such as entry price, stop loss level and profit target. Click on Buy/Sell accordingly. TradingView will now send the order to the broker to execute the trade. 

Managing Positions

If you do not instantly want to buy or sell the position, it is advisable to manage it. You may refer to the trading panel to manage the positions. Using an algo trading software may help you understand precise order placement. As a result, you can increase your chances of drawing maximum profit in the market.

Benefits of Trading Micro NASDAQ Futures with TradingView

Enhancing accessibility and efficiency is one of the main roles of TradingView. Whether you're a beginner trader or have been in the market for a while, you are probably prepared for the benefits of TradingView. 

Thus, some of the significant benefits of trading micro NASDAQ Futures with TradingView are as follows: