A futures paper trading account, also called a simulated trading account, lets you place trades on real futures contracts using virtual money, so you can practice trading without putting capital at risk. Here's what you need to do to set up a futures paper trading (sim) account in NinjaTrader Desktop.
Simulated trading does not represent actual trading and is based on hypothetical conditions. Actual trading results may differ significantly due to factors such as market conditions, liquidity, execution, and the emotional and psychological impact of risking real money. Simulated trading is provided for educational and platform-familiarization purposes only and should not be relied upon as an indication or expectation of results in a live trading environment.
What you need before you start
This walkthrough covers NinjaTrader Desktop, which is built for Windows-based systems. For more info, see our guide on how to practice futures trading with a paper account and our futures trading simulator page.
First, you'll need to find your Sim101 account, which is NinjaTrader's default simulated account. It tracks a cash balance and profit and loss like a live account, and each simulated order is checked against your buying power.
Find and customize your Sim101 account
You can set initial values for your Sim101 account, reset it, and clear its order history from the Control Center.
To get there:
- Open the Control Center and select the Accounts tab. If you don't see the tab, select the "+" tab button, then select New accounts.
- Edit the Sim101 account.
With the account open for editing, you can set your starting cash.
Set your initial cash and reset Sim101
In the Simulation Accounts window:
- Set the Initial cash property to the amount you want the account to reset to.
- Click reset.
A reset gives you a fresh starting balance, set to the initial cash amount you chose. Once it's where you want it, you can place your first orders.
Place orders with Sim101 selected
To trade in the sim environment, select the Sim101 account in any NinjaTrader order entry feature.
For the basics of buy and sell orders and order types, see how to place a futures order. Not sure where to start? Here's what to practice once your account is set up.
Ready to take the next step? Open a NinjaTrader account when you want to trade live.
FAQs on setting up a futures paper trading account
How do I reset a Sim101 account in NinjaTrader Desktop?
To reset a Sim101 account in NinjaTrader Desktop, edit the account from the Accounts tab, enter the initial cash value you want, and select reset.
What currency does a NinjaTrader Desktop sim account use?
Simulated accounts in NinjaTrader Desktop currently support U.S. dollars (USD) only.
What if I don't see the Accounts tab in the Control Center?
Select the "+" tab button, then select New accounts.
How do I place orders in a futures trading simulator on NinjaTrader Desktop?
Select the Sim101 account in any NinjaTrader order entry feature. With Sim101 selected, you're placing orders in the sim environment.
