How many contracts?
A position size calculator for NQ, MNQ, ES and MES. Put in your account, what you will risk and where your stop is. It tells you the size, the dollars on the line and what the target pays.
What a point is worth
Every one of these moves in ticks of 0.25 points. The micros are one tenth of the E-minis: ten MNQ move like one NQ, ten MES like one ES.
| Contract | 1 point | 1 tick (0.25) | 10 points |
|---|---|---|---|
| NQE-mini Nasdaq-100 | $20 | $5.00 | $200 |
| MNQMicro E-mini Nasdaq-100 | $2 | $0.50 | $20 |
| ESE-mini S&P 500 | $50 | $12.50 | $500 |
| MESMicro E-mini S&P 500 | $5 | $1.25 | $50 |
Sizing a futures trade, by hand
The calculator does three steps. Do them once on paper and the number never surprises you.
A share of the account, often 0.5% to 1%. On $50,000 at 1% that is $500.
Stop in points times the point value. A 20 point NQ stop is 20 × $20 = $400 a contract.
$500 ÷ $400 = 1.25, so 1 NQ. Always down: rounding up risks more than you chose.
Questions
What is one point of NQ worth?
One point of the E-mini Nasdaq-100 (NQ) is worth $20 per contract. The smallest move, one tick of 0.25 points, is $5.
What is one point of MNQ worth?
One point of the Micro E-mini Nasdaq-100 (MNQ) is worth $2 per contract, and one tick of 0.25 points is $0.50. Ten MNQ move like one NQ.
How do I work out how many futures contracts to trade?
Decide the dollars you will lose if the stop is hit (for example 1% of the account), then divide by what one contract loses at that stop: stop distance in points times the point value. Round down. $50,000 at 1% is $500; a 20 point NQ stop costs $400 a contract, so the size is 1 NQ.
Should I trade NQ or MNQ?
If your risk per trade is smaller than what one NQ loses at your stop, trade MNQ: it lets you size in steps of one tenth of an NQ. Most accounts under about $50,000 with normal NQ stops size correctly only with micros.
What are ES and MES worth per point?
ES (E-mini S&P 500) is $50 a point and $12.50 a tick. MES (Micro E-mini S&P 500) is $5 a point and $1.25 a tick.
The other half is reading NQ.
Echelon is d1's NQ training, session breakdowns and private member chat in one app. Or start in the free Discord.
Trading futures involves substantial risk of loss and is not suitable for every investor. This calculator is arithmetic, not advice: it does not know your broker's margin, fees or slippage, and a stop can fill worse than its price in a fast market.