Futures Trading#

Type#

Mini
Micro (worth 1/10 of a Mini)
NQ 20 dollar per points
MNQ 2 dollar per points

NOTE

the M before MNQ means micro which is worth 1/10 of a Mini which is the normal one (NQ)!

Points#

point value is the smallest whole number 1000->1001 move is 1 point move

Ticks#

tick value is the smallest decimal number movement
NQ moves 0,25 decimal points minimum!
But ES moves 0,1 decimal points minimum!
1 NQ point is 4 NQ tick
1 ES point is 10 Es tick

CAUTION

you always need to know which one is in the current use when i place your stoploss and takeprofit, you make this mistake once and instead of 20 ticks stoploss you place a 20 points stoploss and bye bye mmy whole savings or funded account

Contracts#

Contracts are multipliers to point or tick values, you can buy 3 * 20 dollar worth of “contracts”

Margin#

intraday (market open)
overnight (market closed)

NinjaTrader#

intraday 500 dollar per contract
overnight 2000 dollar per contract

WARNING

every broker has a different intraday and overnight requirement, so always check that before you assume the above example

Requirement#

if buying 3 contracts, you will need to set aside 1500 dollar with intraday margin on NinjaTrader, if you have 2000 dollar in the account you will have 500 dollar liquidity if you lose more than 500 dollar you will get a margin call, and you will be liquidated!

TIP

because of the information above I advise you to calculate how many points you can go down before a margin call sso remember the calculation below

Calculation#

Calculate how many points you can lose before margin call
(Account Size - Contracts * Margin Each Contract) / (Contracts * Point Value)
(150.000-15×500)÷(15×20)=475Points

Position Worth#

contract * point value or
contract * tick value
3 * 20 = 60 dollar for points in NQ
3 * 5 = 15 dollar for ticks in NQ

Win Calculation#

contract * point value * point movement or
contract * tick value * tick movement
3 * 20 * 8 = 480 dollar for 8 point movement into profit on NQ
3 * 5 * 32 = 480 dollar for 32 tick movement into profit on NQ (8 point * 4 tick per point = 32 tick)

IMPORTANT

I don’t actually want you to calculate how much money can you make because then you could make unrealistic expectations to yourself and won’t archive anything so this is just to remember but do not calculate everytime you win how much money could you made when…

NOTE

these notes are specific to MyFundedFutures, which is one of the best Futures trading firm what I know, but the first rules under “Funded Firms” are generally there on every Futures firms and only the last rule is MyFundedFutures specific which I marked as “MyFundedFutures Profitable Month Bonus”

Consistency Rule#

40% -> If a trader makes a total of 10.000 dollar in profit, no single profit can exceed 4,000 dollar (40% of $10,000)

Scaling#

You can only scale by contracts, so if you scale, you are actually allowed to use more contracts to trade, but does not get more money

Subscription Model#

You will need to pay a monthly fee for your funded account but only in the evaluation stage, once funded, you will not have to pay anymore

Reset after Fail#

Once you have failed the account before renewal, then the account will automatically change your balance back to starting balance, sometimes you need to pay an additional fee for reset

Drawdown Modes#

End of Day (EOD) drawdown refers to the maximum loss a trader can incur within a trading day, calculated at the end of the day based on the accounts balance.

Intraday drawdown Tracks the highest and lowest points of the account balance within the day, including unrealized gains and losses.

MyFundedFutures Profitable Month Bonus#

If you close a month in profit and pay for the next month’s subscription, you earn a valuable bonus—a free reset. This free reset can be used at any point in the future.

One Free Reset Limit: Account resets don’t accumulate. You can have a maximum of one free reset available at any given time.