Welcome to AQ pretty_lil_fishy.
From the fish breeding point of view, nitrate levels should be as low as possible. From the plant health point of view, nitrate is essential for nitrogen, which plants need in considerable amounts for growth. However, for nitrate to be harmful to fish it has to be in extremely high levels of concentration in the water, something which is very difficult to achieve if you have a planted tank and when you change water regularly.
A tank can not sustain itself indefinitely without human interference. However, you can minimize the level of maintenance you have to do on the tank. This can only be learnt, in my opinion, after a period of time dabbling in planted tanks. To have a low maintenance tank you need to know how the planted tank "ecology" works. Try reading Diana Walstad's Ecology of the Planted Aquarium or the "Non-CO2 method" sticky in the Beginner's Forum written by Tom Barr.
When you add CO2, plant growth rates explode. However, they cannot grow well without adequate fertilisation to go with the CO2. When you grow, you need food. When you grow at fast rates, you finish up food faster, therefore you need to be replenished with enough food.
In the planted tank world the usual fish-only tank keeping tips do not necessarily apply. From the way we set the tank up, to the cycling process and weekly maintenance, everything is different. There is a lot of reading to do.
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