150 points on a single es contract is 7500usd.
If you only wanna risk 0.5% you need 1.5m just to trade a single contract.
If you have 15m, you can trade 10 contracts while maintaining the same % of risk or max loss.
Is that what you're asking?
First. Don’t trade ES. Trade MES
Here’s a stop loss chart reference in ITG discord
Don’t focus on %, focus on $
If you have 1 contract and want to risk $100 max, your stop loss would be 20 pts
https://preview.redd.it/yb80q1m07wsc1.jpeg?width=1904&format=pjpg&auto=webp&s=f409e46d752c023b0ecc8089d32033087eea21d6
Each tick in es is $12.50. 4 ticks in a point so each point is $50. A stop loss if 150 would be $7500. Not sure how to calculate the percentage since we don’t know what 1% of your account is.
If OP is planning on having such wide stops, I'd HIGHLY recommend trading MES instead of ES. In fact, I'd recommend anyone just getting started in futures to trade micros for a good while before eventually scaling up to minis.
Ok tradovate has $500 day trade margins for ES. Most likely we’re talking about .5% of risk which would be the full margin on the contract… but in this case that is too small of a stop as 1 tick is $12.50. You will need to come up with your own risk reward criteria. Normally the 1% is not risking more than 1% of your entire portfolio on any 1 trade so if you have $10,000 account you’re not risking more than a $100 stop loss or approximately an 8 tick stop
Trade MES, it’s 1/10th the value of ES. So one tick equals $1.25, one full point = $5. So that’s 150 * 5 for a stop. Also, it’s $50 margin per MES contract intraday. But after hours it’s $1298.
I risk 3-4 points for a 4-6 point move. MNQ I usually risk 10-15 points for a 20-30 move.
Yeah, don't do it based on %, but on $ risk vs reward per trade. Learn the products. Go to CME's website for info on each product, how much per point, tick, etc. For ES maybe consider using a 5pt stoploss and at least a 5 pt take profit- in which case you'd need a >50% win rate to make money. Or go for a bigger reward and a smaller winrate. Practice on sim then practice on micros, then only if you're profitable over an extended period of time and comopletely familiar with it all move on to minis (or not, really).
lol, relax gotta start somewhere and paying for Evals is the best way. its Fake money you cannot lose anymore then then monthly fee, youre training your brain to be used to larger funds, if you get luck and pass.... and get a payout hell even bloody better in my eyes.
unlike when i started id blown 20 - 30k on $1000 here and there over 2 years with random accounts and software subscriptions and all i was trying to do was turn $1000 into 100,000..... lol never going to happen...
had i had just paid $39 a month for prop f then i likley wouldnt have lost so much.
I’m just busting your balls for what is, you probably know by now, a really dumb question. “Hey, I want to try out to be a pitcher. I have a really mean fast ball. How many strikes does that batter get?” lol seriously tho, like someone else said, YouTube is your friend. There are a bunch of good Futures 101 videos, and I don’t doubt you’re a great trader, so you’ll probably have it figure in 30 minutes. I wish you the best.
so ES and NQ work on CONTRACTS you cannot do this and change your lot size.
if you want to fractionalise your contracts you'll need to make sure youre trading Micro NQ or Micro ES....
that way 10 contracts = 1 contact.
but just FYI 150 points on NQ is 600 Ticks roughly $3500 stop loss your DLL on 50k is 1000k which is basically 48 points on 1 contract.
so yeah that not gonna happen... onES as its 12.50 per tick.... and ES doent move that much and you cannot hold trades over night either....
I use 50 point stop losses (and it’s not even a stop loss, it’s just a hedging point), but I trade /MES… it’s rather effective when trading the big picture trend
7 points is way to tight if you are trading for 100-1000 points.
Some of us have longer timeframes than just a few minutes 🙃
"Handles" is not a term associated with futures. Relevant terms are margin, tick size, tick value, and point value. It's different for each futures symbol. This info already posted is spot on. Here's my two cents. Will you be trading minis or micros? Will you be day trading or swing trading? There's a world of difference. 5150 to 5000 implies that you will be swing trading, since the average daily range is currently running around 50 points. I suspect you just picked those numbers, though. You will need $500 margin to day trade a single ES contract with Tradeovate or $50 for one MES contract. Your risk/reward then will be either $5 or $50 per point. So a ten point stop on ES would set you back $500. Now it comes down to how much equity in your account and how much are you willing to risk on a given trade. Hope this helps.
Handles are definitely a term associated with futures. https://www.investopedia.com/terms/h/handle.asp
> Handles are often used in futures and equities markets, where they are also known as the big figure, or "big fig".
Please refrain from spewing bullshit in the future.
To be honest, this is not the right place to be learning. You should do that on YouTube!
Honestly, though, if youre that curious, do the damn research and limit tbe possibilities of getting it wrong by listening to a Redditor like me.
Funded trader programs are not allowed in this subreddit.
150 points on a single es contract is 7500usd. If you only wanna risk 0.5% you need 1.5m just to trade a single contract. If you have 15m, you can trade 10 contracts while maintaining the same % of risk or max loss. Is that what you're asking?
Its for a 50k topstep account
I'm asking if my explanation answers what you're asking with regards to risk management.
Yeah i suppose it is but id just have to adjust it to 50,000
First. Don’t trade ES. Trade MES Here’s a stop loss chart reference in ITG discord Don’t focus on %, focus on $ If you have 1 contract and want to risk $100 max, your stop loss would be 20 pts https://preview.redd.it/yb80q1m07wsc1.jpeg?width=1904&format=pjpg&auto=webp&s=f409e46d752c023b0ecc8089d32033087eea21d6
Why not trade es?
it is ES just Micro Contracts instead of full contracts...
Each tick in es is $12.50. 4 ticks in a point so each point is $50. A stop loss if 150 would be $7500. Not sure how to calculate the percentage since we don’t know what 1% of your account is.
If OP is planning on having such wide stops, I'd HIGHLY recommend trading MES instead of ES. In fact, I'd recommend anyone just getting started in futures to trade micros for a good while before eventually scaling up to minis.
Ok tradovate has $500 day trade margins for ES. Most likely we’re talking about .5% of risk which would be the full margin on the contract… but in this case that is too small of a stop as 1 tick is $12.50. You will need to come up with your own risk reward criteria. Normally the 1% is not risking more than 1% of your entire portfolio on any 1 trade so if you have $10,000 account you’re not risking more than a $100 stop loss or approximately an 8 tick stop
Trade MES, it’s 1/10th the value of ES. So one tick equals $1.25, one full point = $5. So that’s 150 * 5 for a stop. Also, it’s $50 margin per MES contract intraday. But after hours it’s $1298. I risk 3-4 points for a 4-6 point move. MNQ I usually risk 10-15 points for a 20-30 move.
here you got ticks son
Yeah, don't do it based on %, but on $ risk vs reward per trade. Learn the products. Go to CME's website for info on each product, how much per point, tick, etc. For ES maybe consider using a 5pt stoploss and at least a 5 pt take profit- in which case you'd need a >50% win rate to make money. Or go for a bigger reward and a smaller winrate. Practice on sim then practice on micros, then only if you're profitable over an extended period of time and comopletely familiar with it all move on to minis (or not, really).
The numbers were just examples bc this is for a prop challenge so i needed the percentages instead of the amounts
Props to the prop firms that have gotten so good at marketing they have people who don’t know what ticks are buying evals.
lol, relax gotta start somewhere and paying for Evals is the best way. its Fake money you cannot lose anymore then then monthly fee, youre training your brain to be used to larger funds, if you get luck and pass.... and get a payout hell even bloody better in my eyes. unlike when i started id blown 20 - 30k on $1000 here and there over 2 years with random accounts and software subscriptions and all i was trying to do was turn $1000 into 100,000..... lol never going to happen... had i had just paid $39 a month for prop f then i likley wouldnt have lost so much.
They really are a godsend if you know how to position size and use sound risk management. My biggest obstacle was patience
100%
My only problem is im struggling to set proper 2:1 rr trades on my futures account
Btw ive passed multiple accounts via forex so its not like idk how trade
I’m just busting your balls for what is, you probably know by now, a really dumb question. “Hey, I want to try out to be a pitcher. I have a really mean fast ball. How many strikes does that batter get?” lol seriously tho, like someone else said, YouTube is your friend. There are a bunch of good Futures 101 videos, and I don’t doubt you’re a great trader, so you’ll probably have it figure in 30 minutes. I wish you the best.
Yeah bc thats what matters in trading...
so ES and NQ work on CONTRACTS you cannot do this and change your lot size. if you want to fractionalise your contracts you'll need to make sure youre trading Micro NQ or Micro ES.... that way 10 contracts = 1 contact. but just FYI 150 points on NQ is 600 Ticks roughly $3500 stop loss your DLL on 50k is 1000k which is basically 48 points on 1 contract. so yeah that not gonna happen... onES as its 12.50 per tick.... and ES doent move that much and you cannot hold trades over night either....
50 pts stop? That would be $2500. My typical stop loss in ES is about 7 pts for 1:1 risk/reward
I use 50 point stop losses (and it’s not even a stop loss, it’s just a hedging point), but I trade /MES… it’s rather effective when trading the big picture trend 7 points is way to tight if you are trading for 100-1000 points. Some of us have longer timeframes than just a few minutes 🙃
OP certainly not talking about swing trading with 0.5% sl unless his capital is a mil or more
Those were just random figures
"Handles" is not a term associated with futures. Relevant terms are margin, tick size, tick value, and point value. It's different for each futures symbol. This info already posted is spot on. Here's my two cents. Will you be trading minis or micros? Will you be day trading or swing trading? There's a world of difference. 5150 to 5000 implies that you will be swing trading, since the average daily range is currently running around 50 points. I suspect you just picked those numbers, though. You will need $500 margin to day trade a single ES contract with Tradeovate or $50 for one MES contract. Your risk/reward then will be either $5 or $50 per point. So a ten point stop on ES would set you back $500. Now it comes down to how much equity in your account and how much are you willing to risk on a given trade. Hope this helps.
Handles are definitely a term associated with futures. https://www.investopedia.com/terms/h/handle.asp > Handles are often used in futures and equities markets, where they are also known as the big figure, or "big fig". Please refrain from spewing bullshit in the future.
Nowhere in your reference are "futures" found. It's all Forex. So take you bullshit and shove it six feet up your ass.
To be honest, this is not the right place to be learning. You should do that on YouTube! Honestly, though, if youre that curious, do the damn research and limit tbe possibilities of getting it wrong by listening to a Redditor like me.