How does trading software differentiate between regular and micro futures contracts and automatically adjust tick size and value?
1 Like
When participating in trading, it’s vital to use the correct symbols. This means using MES, MNQ, and MCL symbols, among others, when trading Micro Futures Contracts. If any other symbol is used, it should be corrected immediately. Furthermore, it’s crucial to ensure that you’re trading the active month and the correct year.
After being filled, keep an eye on the markets and check if the P&L (profit and loss) aligns with the value of the Micro contract you’re trading.
Best regards,
Matt Z
Optimus Futures
Hi @Meidec,
Thank you for your question. Following up on @Mod-MattZ’s response, on Optimus Flow specifically, the user will have to determine which contract they are trading by selecting it within their symbol search bar.
As shown in the image below, you will first want to click on the search bar on the panel of your choice. In my example I am using the chart:
As you can see, we have symbols broken down and listed by exchange, within the exchanges the futures contracts are listed in alphabetical order. Typically the micro contracts are listed with an “M” in front of the contract name. You can see I have highlighted both the ES (Emini SP500) and the MES (Micro EminiSP500).
Once you click the rightward-facing arrow, the options are further expanded and you can choose the specific contract month of that contract. You will see to the right of the contracts the name of the actual control. For example, you can see (Micro E-mini S&P 500) next to the MES options.
Finally, in the event you are unsure of the tick/point values of these contracts, you can use our SYM – Symbol info panel to gather this information.
- Open the main menu of Optimus Flow
- Click on the SYM button
In the image above I have put a red square around the fields you should be looking at to determine the point and tick values of the given contract you have specified on this panel. As you can see, the single point value of the ES is $50 and the tick value is $12.50.
Compared to the MES as shown below, which is 10x less and $5 per point or $1.25 per tick:
I hope this covers all of your questions!
Jake
Optimus Futures Support
1 Like