Micro vs mini futures contracts: which to choose?

On US index futures, each contract comes in two sizes: the mini (E-mini) and the micro (Micro E-mini), 10 times smaller. The market is exactly the same; only the amount won or lost per point changes. Picking the right size is the first rule to avoid burning your drawdown.

Point and tick values

Example: a 10-point stop costs $200 on 1 NQ, but $20 on 1 MNQ. On ES, 10 points cost $500, versus $50 on MES.

How much to risk per trade?

Start from your drawdown, not from your wish to win fast. On a $50,000 account with a $2,000 drawdown, risking 10% of your room per trade, i.e. $200, leaves you about ten mistakes before hitting the limit.

Micros let you match your size closely to your risk. That's their main advantage during a challenge.

Micros and the contract limit

Each prop firm counts micros its own way in the contract limit. At LibertyFutures, 10 micro contracts count as 1 contract: on a 50K account limited to 5 contracts, you can trade up to 50 MNQ, or for example 2 NQ and 30 MNQ.

When to move up to minis?

• When your usual stop, in minis, stays under 10 to 15% of your remaining room.
• When you've been consistent for several weeks with micros.
• Never to win back a loss: that's the fastest way to fail a challenge.

To understand how your remaining room is calculated, read EOD drawdown, explained simply.