Choosing between a micro and a mini contract isn't a style preference. It's a risk decision. The same 5-point move on gold is $50 on a micro and $500 on a full contract. Under a $2,000 trailing max loss, that difference is the whole game.
Dollars per point
| Contract | Market | $ per point | Tick | $ per tick |
|---|---|---|---|---|
| MGC | Micro Gold | $10 | 0.10 | $1.00 |
| GC | Gold | $100 | 0.10 | $10.00 |
| MES | Micro S&P 500 | $5 | 0.25 | $1.25 |
| ES | E-mini S&P 500 | $50 | 0.25 | $12.50 |
| MNQ | Micro Nasdaq-100 | $2 | 0.25 | $0.50 |
| NQ | E-mini Nasdaq-100 | $20 | 0.25 | $5.00 |
| MYM | Micro Dow | $0.50 | 1 | $0.50 |
| YM | E-mini Dow | $5 | 1 | $5.00 |
Contract specs are set by the exchange and can change. Check your broker's specs before trading.
Size from the stop, not the account
Work backwards from the dollar loss you can accept on one trade:
Contracts = (risk per trade in $) ÷ (stop in points × $ per point)
Example: you accept $150 of risk on a gold trade with a 6-point stop. On MGC that's 6 × $10 = $60 per contract, so 2 contracts ($120). On GC, one contract would risk $600, four times your limit. On a small account, micros are often the only way to size correctly.
The buffer ladder
Under a trailing max loss, the right size changes as your buffer (balance minus floor) changes. A simple ladder:
- Pick a block size, for example $700 of buffer per contract.
- Each morning, contracts = buffer ÷ block, rounded down, with a minimum of 1.
- When the buffer grows, size grows. After a drawdown, size shrinks automatically.
| Buffer | Block $700 | Block $500 |
|---|---|---|
| $1,200 | 1 | 2 |
| $2,000 | 2 | 4 |
| $3,500 | 5 | 7 |
The ladder does what discipline often doesn't: it cuts size after losses and only adds it when the account has earned the room.
The block size is the key number. Too small and a normal losing streak breaches the floor. Too large and the account grows slowly. The Contract Sizing tool searches for the smallest block that keeps your breach chance under a limit you choose.
Don't forget costs
Commission and slippage are charged per contract, so they scale with size. One tick of slippage on MNQ is $0.50, but over hundreds of trades and several contracts it adds up. Always test your size with costs included.
Test it on your numbers. The Contract Sizing tool runs this on your own win rate, averages or TradingView trade list.
Educational content only, not investment advice. Rules differ by firm and change often, so always check your firm's current rules. Examples use round numbers for clarity.