Futures Tick Value Cheatsheet: Complete Guide to Point & Tick Values for Every Contract
If you don't know the tick value of the contract you're trading, you're flying blind. Every stop loss, profit target, and position size calculation depends on one number—and getting it wrong can blow up your account before you realize what happened.
This cheatsheet covers tick and point values for every major futures contract, with practical examples for position sizing, risk management, and prop firm trading.
Bookmark this page. You'll come back to it.
Ticks vs Points: What's the Difference?
Before we get into the numbers, let's clear up the confusion that trips up almost every new futures trader.
A tick is the smallest price increment a futures contract can move. It's the minimum unit of price change.
A point is one full unit of price movement (e.g., from 5000.00 to 5001.00).
The relationship between ticks and points varies by contract:
- ES (E-mini S&P 500): 1 point = 4 ticks (tick size is 0.25)
- NQ (E-mini Nasdaq): 1 point = 4 ticks (tick size is 0.25)
- CL (Crude Oil): 1 point = 100 ticks (tick size is 0.01)
- GC (Gold): 1 point = 10 ticks (tick size is 0.10)
This is why "I made 10 points on crude" and "I made 10 points on ES" are wildly different statements. On ES, that's $500. On CL, that's $10,000.
The takeaway: Always think in ticks when comparing across contracts. Points are meaningless without context.
Equity Index Futures: The Complete Tick Value Table
These are the most actively traded futures contracts for day traders. If you're trading prop firm evaluations, you're almost certainly trading one of these.
E-mini Contracts
| Contract | Symbol | Tick Size | Tick Value | Point Value | Ticks/Point |
|---|---|---|---|---|---|
| E-mini S&P 500 | ES | 0.25 | $12.50 | $50.00 | 4 |
| E-mini Nasdaq 100 | NQ | 0.25 | $5.00 | $20.00 | 4 |
| E-mini Dow | YM | 1.00 | $5.00 | $5.00 | 1 |
| E-mini Russell 2000 | RTY | 0.10 | $5.00 | $50.00 | 10 |
| E-mini S&P MidCap | EMD | 0.10 | $10.00 | $100.00 | 10 |
Micro E-mini Contracts
Micro contracts are 1/10th the size of their E-mini counterparts. They're perfect for small accounts, prop firm evaluations where you need precise position sizing, and learning the ropes without excessive risk.
| Contract | Symbol | Tick Size | Tick Value | Point Value | Ticks/Point |
|---|---|---|---|---|---|
| Micro E-mini S&P 500 | MES | 0.25 | $1.25 | $5.00 | 4 |
| Micro E-mini Nasdaq 100 | MNQ | 0.25 | $0.50 | $2.00 | 4 |
| Micro E-mini Dow | MYM | 1.00 | $0.50 | $0.50 | 1 |
| Micro E-mini Russell 2000 | M2K | 0.10 | $0.50 | $5.00 | 10 |
Quick math: If you're trading MES and your stop loss is 8 ticks (2 points), you're risking $10 per contract. On ES, that same 8-tick stop is $100 per contract. Big difference.
Energy Futures Tick Values
Energy contracts move fast and the dollar values add up quickly. Knowing these numbers is non-negotiable if you're trading crude or natural gas.
| Contract | Symbol | Tick Size | Tick Value | Point Value | Ticks/Point |
|---|---|---|---|---|---|
| Crude Oil | CL | 0.01 | $10.00 | $1,000.00 | 100 |
| Micro Crude Oil | MCL | 0.01 | $1.00 | $100.00 | 100 |
| Natural Gas | NG | 0.001 | $10.00 | $10,000.00 | 1,000 |
| E-mini Natural Gas | QG | 0.005 | $12.50 | $2,500.00 | 200 |
| RBOB Gasoline | RB | 0.0001 | $4.20 | $42,000.00 | 10,000 |
Reality check: A 50-tick move on CL is $500 per contract. That same move happens multiple times per session. This is why crude oil is both loved and feared by futures traders.
Metals Futures Tick Values
| Contract | Symbol | Tick Size | Tick Value | Point Value | Ticks/Point |
|---|---|---|---|---|---|
| Gold | GC | 0.10 | $10.00 | $100.00 | 10 |
| Micro Gold | MGC | 0.10 | $1.00 | $10.00 | 10 |
| Silver | SI | 0.005 | $25.00 | $5,000.00 | 200 |
| Micro Silver | SIL | 0.001 | $1.00 | $1,000.00 | 1,000 |
| Platinum | PL | 0.10 | $5.00 | $50.00 | 10 |
| Copper | HG | 0.0005 | $12.50 | $25,000.00 | 2,000 |
Gold (GC) is the metals favorite for day traders because of its liquidity and manageable tick value. Silver (SI) is deceptively dangerous—a $25 tick value means even small moves hit hard.
Agricultural & Grain Futures Tick Values
| Contract | Symbol | Tick Size | Tick Value | Point Value |
|---|---|---|---|---|
| Corn | ZC | 0.25 | $12.50 | $50.00 |
| Soybeans | ZS | 0.25 | $12.50 | $50.00 |
| Wheat | ZW | 0.25 | $12.50 | $50.00 |
| Soybean Oil | ZL | 0.01 | $6.00 | $600.00 |
| Live Cattle | LE | 0.025 | $10.00 | $400.00 |
| Lean Hogs | HE | 0.025 | $10.00 | $400.00 |
Currency & Interest Rate Futures Tick Values
Currency Futures
| Contract | Symbol | Tick Size | Tick Value | Point Value |
|---|---|---|---|---|
| Euro FX | 6E | 0.00005 | $6.25 | $125,000.00 |
| British Pound | 6B | 0.0001 | $6.25 | $62,500.00 |
| Japanese Yen | 6J | 0.0000005 | $6.25 | $12,500,000 |
| Australian Dollar | 6A | 0.0001 | $10.00 | $100,000.00 |
| Canadian Dollar | 6C | 0.00005 | $5.00 | $100,000.00 |
Interest Rate Futures
| Contract | Symbol | Tick Size | Tick Value | Point Value |
|---|---|---|---|---|
| 10-Year T-Note | ZN | 1/64 | $15.625 | $1,000.00 |
| 30-Year T-Bond | ZB | 1/32 | $31.25 | $1,000.00 |
| 5-Year T-Note | ZF | 1/128 | $7.8125 | $1,000.00 |
| 2-Year T-Note | ZT | 1/128 | $15.625 | $2,000.00 |
How to Use Tick Values for Position Sizing
This is where tick values actually matter in your day-to-day trading. Knowing the numbers is step one. Using them to size positions correctly is what keeps you in the game.
The Position Sizing Formula
Here's the formula every futures trader should have memorized:
Max Contracts = Dollar Risk / (Stop Loss in Ticks × Tick Value)
Let's walk through real examples:
Example 1: Trading ES with $500 risk
- Account risk: $500
- Stop loss: 8 ticks (2 points)
- Tick value: $12.50
- Max contracts: $500 / (8 × $12.50) = $500 / $100 = 5 contracts
Example 2: Trading MNQ with $100 risk
- Account risk: $100
- Stop loss: 40 ticks (10 points)
- Tick value: $0.50
- Max contracts: $100 / (40 × $0.50) = $100 / $20 = 5 contracts
Example 3: Trading CL with $300 risk
- Account risk: $300
- Stop loss: 15 ticks ($0.15)
- Tick value: $10.00
- Max contracts: $300 / (15 × $10) = $300 / $150 = 2 contracts
The 1-2% Rule for Futures
Most risk management guides say risk 1-2% of your account per trade. In futures, that calculation looks like this:
- $50,000 account at 1% risk = $500 per trade
- $25,000 account at 2% risk = $500 per trade
- $10,000 account at 1% risk = $100 per trade
Then plug that dollar amount into the formula above. This is how professional traders determine contract size—not by feel, not by excitement, not by "it looks like a good setup so I'll size up."
Tick Values and Prop Firm Trading
If you're trading a prop firm evaluation (Topstep, Apex, Take Profit Trader, etc.), tick values become even more critical. Here's why:
Daily Loss Limits
Most prop firms have a daily loss limit. If your daily max loss is $500 and you're trading NQ (tick value = $5.00), you can only afford to lose 100 ticks before you're done for the day.
Compare that to MNQ at $0.50 per tick—you'd need to lose 1,000 ticks to hit the same limit. That's a massive difference in margin for error.
Trailing Drawdown Calculations
Prop firm trailing drawdowns are calculated in real dollars. Every tick against you moves the drawdown closer to your limit. Knowing exact tick values lets you:
- Calculate exactly how many ticks of drawdown you can afford
- Set hard stops that keep you within limits
- Scale contract size as your cushion shrinks or grows
Why Automation Matters Here
Manual traders make mistakes under pressure. They miscalculate position sizes, forget to set stops, or revenge trade after a loss. One wrong calculation on a contract you don't fully understand can blow through a daily limit in seconds.
→ StealthScalp by Trinity Trading removes this problem entirely. It's a fully automated NinjaTrader strategy that executes one disciplined trade per day—with risk management built in. No manual position sizing errors, no emotional overtrading, no forgetting your tick values at the worst possible moment.
Common Tick Value Mistakes That Cost Traders Money
Mistake 1: Confusing Ticks and Points
This is the most expensive rookie mistake. A trader thinks their stop is "4 ticks" on ES but actually means 4 points (16 ticks). That's 4x the risk they intended.
Fix: Always specify whether you mean ticks or points. Better yet, think in dollar terms: "My stop is $100 on this trade."
Mistake 2: Using the Same Stop Size Across Different Contracts
A 10-tick stop on ES ($125) is very different from a 10-tick stop on CL ($100) or NQ ($50). Your stop size should be based on dollar risk, not tick count.
Mistake 3: Not Adjusting for Micro vs Full Contracts
Trading 10 MES contracts is equivalent to 1 ES contract in dollar exposure. Some traders don't realize they've accidentally sized into a full-size position using micros.
Mistake 4: Ignoring Tick Value When Switching Instruments
You've been trading MNQ for weeks, then switch to NQ. Same chart, same patterns—but now every tick is worth 10x more. This catches traders off guard constantly.
Quick Reference: Most Popular Day Trading Contracts
If you only trade the most common day trading contracts, here's your simplified cheatsheet:
| Contract | Tick Value | 10-Tick Move | 50-Tick Move | Best For |
|---|---|---|---|---|
| MES | $1.25 | $12.50 | $62.50 | Small accounts, learning |
| MNQ | $0.50 | $5.00 | $25.00 | Small accounts, Nasdaq exposure |
| ES | $12.50 | $125.00 | $625.00 | Funded traders, prop firms |
| NQ | $5.00 | $50.00 | $250.00 | Active day traders |
| CL | $10.00 | $100.00 | $500.00 | Momentum traders |
| GC | $10.00 | $100.00 | $500.00 | Metals traders |
Automating Risk Management (So You Never Miscalculate Again)
Here's the thing about tick values and position sizing: the math isn't hard. But doing it correctly every single time, under pressure, when you're excited about a setup or frustrated from a loss—that's where traders fail.
This is exactly why automated trading strategies have become so popular for futures day trading, especially in the prop firm space. When a bot handles execution, it:
- Calculates position size based on exact tick values every time
- Sets stops and targets precisely—no fat-finger errors
- Doesn't revenge trade after a loss
- Doesn't over-leverage because "this setup looks really good"
- Executes the same way at 6 AM or 2 PM
→ See how StealthScalp automates disciplined futures trading → One trade per day, built-in risk management, designed specifically for prop firm evaluations. No tick value math required—just consistent, automated execution.
Final Thoughts
Tick values aren't sexy. Nobody gets excited about memorizing contract specifications. But they're the foundation of every trade you take.
Get them wrong, and your risk management is meaningless. Get them right, and you can trade with precision and confidence—knowing exactly how much is on the line with every position.
Bookmark this cheatsheet. Reference it before trading any new contract. And if you want to skip the manual calculations entirely, consider letting automation handle the execution for you.
