Hi all, I’m new to futures trading and need some clarification. Can someone explain the difference in tick size between regular and micro futures contracts, and how this impacts trading strategies and potential gains/losses? Thank you.
Greetings @Meidec, and a warm welcome to the Optimus Futures community. We have created a helpful table that displays a comparison between the micros, minis, and standard contracts. For instance, MES represents the Micro Emini S&P, while ES represents the Mini S&P. The tick size for MES is 1.25, whereas, for the Mini, it’s $12.5. It’s essential to keep in mind that the Micro is 1/10th the size of the Mini/Standard. We hope that this information will be very helpful to you. Feel free to ask any further questions you may have.
Best,
Matt Z
Optimus Futures
| Micro Contract | Contract Name | Standard Contract | Contract Size 📏 | Dollar Value per Tick (Micro) 💵 | Dollar Value per Tick (Standard) 💰 |
|---|---|---|---|---|---|
| MES | 📈 Micro S&P 500 | ES | 1/10th of ES | $1.25 | $12.50 |
| MNQ | 📊 Micro Nasdaq 100 | NQ | 1/10th of NQ | $0.50 | $5.00 |
| MYM | 🏢 Micro Dow Jones | YM | 1/10th of YM | $0.50 | $5.00 |
| M2K | 📉 Micro Russell 2000 | RTY | 1/10th of RTY | $0.50 | $5.00 |
| MCL | 🛢️ Micro WTI Crude Oil | CL | 1/10th of CL | $1.00 | $10.00 |
| MGC | 🥇 Micro Gold | GC | 1/10th of GC | $1.00 | $10.00 |
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Thank you! Your response is very helpful. Could you please explain what a “point” is? Additionally, I have some questions regarding your software. Is it appropriate to ask them here?
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It’s worth noting that certain contracts have a specific point value. For instance, MES 4 ticks equal one complete point, which translates to a value of $5. On the other hand, for ES, the standard contract, it’s 10X, making it $50 per point.
Similarly, for MNQ/NQ, 2 ticks constitute a point, while YM/MYM has no points. RTY/M2K, on the other hand, has 2 ticks per point.
It’s important to keep in mind that most futures trading software allows you to create targets with ticks. Therefore, when setting your targets for stops and objectives, ensure that you place the right number of ticks to achieve the desired $ amount.
Feel free to ask as many questions as you need, but kindly ensure they are relevant to the topic at hand. In case you have inquiries regarding trading software, kindly create a new thread. Thanks. Have a great day!
Best,
Matt Z
Optimus Futures
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